A. Bouverne: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
A. Bouverne
NACE 47.770, Retail sale of watches and jewellery
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.4m
2024 · €2.2m-€786,860
Equity
€8.5m
2024 · €7.5m+€993,680
Cash
€1.6m
2024 · €1.7m-€99,266
Balance sheet total
€12.0m
2024 · €11.5m+€496,464
Largest movements
Assets
- Stocks and contracts +€747,966
up €747,966 (+25.8%), from €2.9m to €3.6m
- Tangible fixed assets -€129,849
down €129,849 (-10.8%), from €1.2m to €1.1m
of which Land and buildings: -€77,557
Equity and liabilities
- Reserves +€993,685
up €993,685 (+15.4%), from €6.5m to €7.5m
of which Distributable reserves: +€998,685
- Debts after one year -€633,333
down €633,333 (-23.5%), from €2.7m to €2.1m
Income statement
- Gross operating margin -€1.5m
down €1.5m (-35.5%), from €4.3m to €2.8m
- Taxes -€349,192
down €349,192 (-34.8%), from €1.0m to €654,905
- Staff costs -€299,554
down €299,554 (-42.4%), from €705,919 to €406,365
- Depreciation -€159,399
down €159,399 (-51.7%), from €308,347 to €148,948
- Financial income -€78,942
down €78,942 (-99.4%), from €79,419 to €477
of which Non-recurring financial income: -€59,418
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2024
€2.2m
Gross operating margin
-€1.5m
Staff costs
+€299,554
Depreciation
+€159,399
Write-downs
-€38,158
Other operating charges
+€974
Financial income
-€78,942
Financial charges
+€66,733
Taxes
+€349,192
Result 2025
€1.4m
raises the resultlowers the result
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€954,767
Investment
-€19,099
Financing
-€1.0m
Cash 2024
€1.7m
From operations (derived)
+€954,767
Net result for the year
+€1.4m
Depreciation
+€148,948
Stocks and contracts
-€747,966
Receivables within one year
+€38,797
Deferred charges and accrued income
-€16,410
Trade debts
+€105,048
Tax, wage and social debts
-€19,461
Other debts
+€52,501
Accrued charges and deferred income
-€1,971
Investment (derived)
-€19,099
Investment in fixed assets (net)
-€19,099
Financing
-€1.0m
Debts after one year
-€633,333
Contributions, distributions and other
-€401,601
Cash 2025
€1.6m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,511,608 | €12,008,072 | +€496,464 | +4.3% |
| Fixed assets | 21/28 | €6,553,734 | €6,423,885 | -€129,849 | -2.0% |
| Tangible fixed assets | 22/27 | €1,203,209 | €1,073,360 | -€129,849 | -10.8% |
| Land and buildings | 22 | €955,921 | €878,364 | -€77,557 | -8.1% |
| Plant, machinery and equipment | 23 | €83,732 | €68,448 | -€15,284 | -18.3% |
| Furniture and vehicles | 24 | €163,555 | €126,547 | -€37,008 | -22.6% |
| Financial fixed assets | 28 | €5,350,525 | €5,350,525 | = | 0.0% |
| Current assets | 29/58 | €4,957,875 | €5,584,188 | +€626,313 | +12.6% |
| Stocks and contracts in progress | 3 | €2,898,620 | €3,646,586 | +€747,966 | +25.8% |
| Stocks | 30/36 | €2,898,620 | €3,646,586 | +€747,966 | +25.8% |
| Amounts receivable within one year | 40/41 | €322,706 | €283,909 | -€38,797 | -12.0% |
| Trade receivables | 40 | €67,438 | €229,317 | +€161,879 | +240% |
| Other amounts receivable | 41 | €255,268 | €54,593 | -€200,675 | -78.6% |
| Cash at bank and in hand | 54/58 | €1,719,650 | €1,620,384 | -€99,266 | -5.8% |
| Deferred charges and accrued income | 490/1 | €16,898 | €33,308 | +€16,410 | +97.1% |
| Total equity and liabilities | 10/49 | €11,511,608 | €12,008,072 | +€496,464 | +4.3% |
| Equity | 10/15 | €7,522,997 | €8,516,678 | +€993,680 | +13.2% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €6,465,574 | €7,459,259 | +€993,685 | +15.4% |
| Non-distributable reserves | 130/1 | €5,000 | - | -€5,000 | |
| Other | 1319 | €5,000 | - | -€5,000 | |
| Tax-exempt reserves | 132 | €3,073 | €3,073 | = | 0.0% |
| Distributable reserves | 133 | €6,457,501 | €7,456,186 | +€998,685 | +15.5% |
| Profit (loss) carried forward | 14 | €1,007,423 | €1,007,418 | -€5 | 0.0% |
| Amounts payable | 17/49 | €3,988,611 | €3,491,395 | -€497,216 | -12.5% |
| Amounts payable after more than one year | 17 | €2,691,667 | €2,058,333 | -€633,333 | -23.5% |
| Financial debts | 170/4 | €2,691,667 | €2,058,333 | -€633,333 | -23.5% |
| Amounts payable within one year | 42/48 | €1,293,473 | €1,431,561 | +€138,088 | +10.7% |
| Current portion of amounts payable after more than one year | 42 | €633,333 | €633,333 | = | 0.0% |
| Trade debts | 44 | €94,742 | €199,791 | +€105,048 | +111% |
| Suppliers | 440/4 | €94,742 | €199,791 | +€105,048 | +111% |
| Taxes, remuneration and social security | 45 | €564,293 | €544,832 | -€19,461 | -3.4% |
| Taxes | 450/3 | €518,021 | €503,110 | -€14,910 | -2.9% |
| Remuneration and social security | 454/9 | €46,273 | €41,721 | -€4,551 | -9.8% |
| Other amounts payable | 47/48 | €1,104 | €53,605 | +€52,501 | +4,755% |
| Accrued charges and deferred income | 492/3 | €3,471 | €1,501 | -€1,971 | -56.8% |
| Remuneration, social security and pensions | 62 | €705,919 | €406,365 | -€299,554 | -42.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €308,347 | €148,948 | -€159,399 | -51.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€34,746 | €3,412 | +€38,158 | |
| Other operating charges | 640/8 | €10,140 | €9,166 | -€974 | -9.6% |
| Gross operating margin | 9900 | €4,348,726 | €2,803,114 | -€1.5m | -35.5% |
| Operating profit (loss) | 9901 | €3,359,066 | €2,235,221 | -€1.1m | -33.5% |
| Financial income | 75/76B | €79,419 | €477 | -€78,942 | -99.4% |
| Recurring financial income | 75 | €20,001 | €477 | -€19,524 | -97.6% |
| Non-recurring financial income | 76B | €59,418 | - | -€59,418 | |
| Financial charges | 65/66B | €252,245 | €185,512 | -€66,733 | -26.5% |
| Recurring financial charges | 65 | €252,245 | €185,512 | -€66,733 | -26.5% |
| Profit (loss) for the period before taxes | 9903 | €3,186,239 | €2,050,186 | -€1.1m | -35.7% |
| Income taxes | 67/77 | €1,004,098 | €654,905 | -€349,192 | -34.8% |
| Profit (loss) for the period | 9904 | €2,182,141 | €1,395,281 | -€786,860 | -36.1% |
| Profit (loss) for the period to be appropriated | 9905 | €2,182,141 | €1,395,281 | -€786,860 | -36.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.