AP BOUW: 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.
AP BOUW
Largest movements
- Receivables within one year -€18,322
down €18,322 (-24.8%), from €73,925 to €55,603
of which Trade receivables: -€11,230
- Tangible fixed assets -€13,134
down €13,134 (-22.0%), from €59,656 to €46,522
of which Leasing and similar rights: -€12,638
- Deferred charges and accrued income +€4,649
up €4,649 (+234%), from €1,983 to €6,632
- Reserves -€20,539
down €20,539 (-43.2%), from €47,539 to €27,000
- Debts after one year -€13,835
down €13,835 (-34.9%), from €39,651 to €25,816
- Current portion of long-term debt +€6,012
up €6,012 (+46.9%), from €12,823 to €18,835
- Gross operating margin -€63,859
down €63,859, from €63,032 to -€827
- Taxes -€10,028
down €10,028 (-100%), from €10,028 to €0
- Depreciation +€7,417
up €7,417 (+130%), from €5,717 to €13,134
- Financial charges +€2,060
up €2,060 (+92.6%), from €2,224 to €4,284
- Staff costs -€1,506
down €1,506 (-33.7%), from €4,474 to €2,968
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €139,061 | €113,722 | -€25,338 | -18.2% |
| Fixed assets | 21/28 | €62,041 | €49,312 | -€12,729 | -20.5% |
| Tangible fixed assets | 22/27 | €59,656 | €46,522 | -€13,134 | -22.0% |
| Plant, machinery and equipment | 23 | €1,635 | €1,140 | -€495 | -30.3% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Leasing and similar rights | 25 | €58,021 | €45,382 | -€12,638 | -21.8% |
| Financial fixed assets | 28 | €2,385 | €2,790 | +€405 | +17.0% |
| Current assets | 29/58 | €77,020 | €64,410 | -€12,609 | -16.4% |
| Amounts receivable within one year | 40/41 | €73,925 | €55,603 | -€18,322 | -24.8% |
| Trade receivables | 40 | €37,693 | €26,463 | -€11,230 | -29.8% |
| Other amounts receivable | 41 | €36,232 | €29,140 | -€7,092 | -19.6% |
| Cash at bank and in hand | 54/58 | €1,112 | €2,175 | +€1,063 | +95.6% |
| Deferred charges and accrued income | 490/1 | €1,983 | €6,632 | +€4,649 | +234% |
| Total equity and liabilities | 10/49 | €139,061 | €113,722 | -€25,338 | -18.2% |
| Equity | 10/15 | €52,539 | €32,000 | -€20,539 | -39.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €47,539 | €27,000 | -€20,539 | -43.2% |
| Distributable reserves | 133 | €47,539 | €27,000 | -€20,539 | -43.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €86,522 | €81,722 | -€4,800 | -5.5% |
| Amounts payable after more than one year | 17 | €39,651 | €25,816 | -€13,835 | -34.9% |
| Financial debts | 170/4 | €39,651 | €25,816 | -€13,835 | -34.9% |
| Amounts payable within one year | 42/48 | €46,871 | €55,907 | +€9,035 | +19.3% |
| Current portion of amounts payable after more than one year | 42 | €12,823 | €18,835 | +€6,012 | +46.9% |
| Trade debts | 44 | €18,131 | €18,714 | +€583 | +3.2% |
| Suppliers | 440/4 | €18,131 | €18,714 | +€583 | +3.2% |
| Taxes, remuneration and social security | 45 | €11,697 | €13,065 | +€1,368 | +11.7% |
| Taxes | 450/3 | €6,697 | €5,376 | -€1,321 | -19.7% |
| Remuneration and social security | 454/9 | €5,000 | €7,688 | +€2,688 | +53.8% |
| Other amounts payable | 47/48 | €4,221 | €5,293 | +€1,073 | +25.4% |
| Remuneration, social security and pensions | 62 | €4,474 | €2,968 | -€1,506 | -33.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,717 | €13,134 | +€7,417 | +130% |
| Other operating charges | 640/8 | €1,234 | €1,071 | -€162 | -13.2% |
| Non-recurring operating charges | 66A | €994 | €0 | -€994 | -100% |
| Gross operating margin | 9900 | €63,032 | -€827 | -€63,859 | |
| Operating profit (loss) | 9901 | €50,613 | -€18,000 | -€68,613 | |
| Financial income | 75/76B | €1,100 | €1,745 | +€646 | +58.7% |
| Recurring financial income | 75 | €1,100 | €1,745 | +€646 | +58.7% |
| Financial charges | 65/66B | €2,224 | €4,284 | +€2,060 | +92.6% |
| Recurring financial charges | 65 | €2,224 | €4,284 | +€2,060 | +92.6% |
| Profit (loss) for the period before taxes | 9903 | €49,488 | -€20,539 | -€70,027 | |
| Income taxes | 67/77 | €10,028 | €0 | -€10,028 | -100% |
| Profit (loss) for the period | 9904 | €39,460 | -€20,539 | -€59,999 | |
| Profit (loss) for the period to be appropriated | 9905 | €39,460 | -€20,539 | -€59,999 |
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.