BAUWENS & Co: what changed
BAUWENS & Co
Largest movements
- Tangible fixed assets +€234,766
up €234,766 (+61.1%), from €384,540 to €619,306
of which Other tangible fixed assets: +€226,597
- Receivables within one year -€60,530
down €60,530 (-57.2%), from €105,880 to €45,350
of which Trade receivables: -€54,435
- Intangible fixed assets +€13,006
new in 2025: €13,006
- Cash +€10,634
up €10,634 (+55.1%), from €19,316 to €29,950
mainly Debts after one year (+€261,326) and Depreciation (+€68,518)
- Financial fixed assets +€9,999
up €9,999 (+22.2%), from €45,001 to €55,000
- Debts after one year +€261,326
up €261,326 (+35.6%), from €734,903 to €996,229
- Profit (loss) carried forward -€92,924
down €92,924 (-16.1%), from -€575,914 to -€668,838
- Current portion of long-term debt +€33,988
up €33,988 (+258%), from €13,153 to €47,141
- Accrued charges and deferred income +€25,000
new in 2025: €25,000
- Other debts -€13,410
down €13,410 (-44.2%), from €30,366 to €16,956
- Financial charges -€549,431
down €549,431 (-94.5%), from €581,136 to €31,705
of which Non-recurring financial charges: -€570,741
- Depreciation +€51,087
up €51,087 (+293%), from €17,431 to €68,518
- Gross operating margin -€10,270
down €10,270 (-46.9%), from €21,914 to €11,643
- Other operating charges +€4,047
up €4,047 (+280%), from €1,447 to €5,494
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €556,258 | €765,484 | +€209,226 | +37.6% |
| Fixed assets | 21/28 | €429,541 | €687,312 | +€257,771 | +60.0% |
| Intangible fixed assets | 21 | - | €13,006 | +€13,006 | |
| Tangible fixed assets | 22/27 | €384,540 | €619,306 | +€234,766 | +61.1% |
| Furniture and vehicles | 24 | €81,844 | €90,014 | +€8,169 | +10.0% |
| Other tangible fixed assets | 26 | €302,695 | €529,292 | +€226,597 | +74.9% |
| Financial fixed assets | 28 | €45,001 | €55,000 | +€9,999 | +22.2% |
| Current assets | 29/58 | €126,718 | €78,172 | -€48,546 | -38.3% |
| Amounts receivable within one year | 40/41 | €105,880 | €45,350 | -€60,530 | -57.2% |
| Trade receivables | 40 | €60,000 | €5,565 | -€54,435 | -90.7% |
| Other amounts receivable | 41 | €45,880 | €39,785 | -€6,095 | -13.3% |
| Cash at bank and in hand | 54/58 | €19,316 | €29,950 | +€10,634 | +55.1% |
| Deferred charges and accrued income | 490/1 | €1,522 | €2,872 | +€1,350 | +88.7% |
| Total equity and liabilities | 10/49 | €556,258 | €765,484 | +€209,226 | +37.6% |
| Equity | 10/15 | -€303,645 | -€396,569 | -€92,924 | -30.6% |
| Contributions | 10/11 | €4,600 | €4,600 | = | 0.0% |
| Reserves | 13 | €267,669 | €267,669 | = | 0.0% |
| Distributable reserves | 133 | €267,669 | €267,669 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€575,914 | -€668,838 | -€92,924 | -16.1% |
| Amounts payable | 17/49 | €859,903 | €1,162,053 | +€302,150 | +35.1% |
| Amounts payable after more than one year | 17 | €734,903 | €996,229 | +€261,326 | +35.6% |
| Financial debts | 170/4 | €734,903 | €996,229 | +€261,326 | +35.6% |
| Amounts payable within one year | 42/48 | €125,000 | €140,824 | +€15,824 | +12.7% |
| Current portion of amounts payable after more than one year | 42 | €13,153 | €47,141 | +€33,988 | +258% |
| Trade debts | 44 | €51,838 | €49,552 | -€2,286 | -4.4% |
| Suppliers | 440/4 | €51,838 | €49,552 | -€2,286 | -4.4% |
| Taxes, remuneration and social security | 45 | €29,643 | €27,175 | -€2,468 | -8.3% |
| Taxes | 450/3 | €29,643 | €27,175 | -€2,468 | -8.3% |
| Other amounts payable | 47/48 | €30,366 | €16,956 | -€13,410 | -44.2% |
| Accrued charges and deferred income | 492/3 | - | €25,000 | +€25,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,431 | €68,518 | +€51,087 | +293% |
| Other operating charges | 640/8 | €1,447 | €5,494 | +€4,047 | +280% |
| Gross operating margin | 9900 | €21,914 | €11,643 | -€10,270 | -46.9% |
| Operating profit (loss) | 9901 | €3,035 | -€62,369 | -€65,404 | |
| Financial income | 75/76B | €1,351 | €1,350 | -€1 | -0.1% |
| Recurring financial income | 75 | €1,351 | €1,350 | -€1 | -0.1% |
| Financial charges | 65/66B | €581,136 | €31,705 | -€549,431 | -94.5% |
| Recurring financial charges | 65 | €10,395 | €31,705 | +€21,310 | +205% |
| Non-recurring financial charges | 66B | €570,741 | - | -€570,741 | |
| Profit (loss) for the period before taxes | 9903 | -€576,750 | -€92,724 | +€484,026 | +83.9% |
| Income taxes | 67/77 | €220 | €200 | -€20 | -9.1% |
| Profit (loss) for the period | 9904 | -€576,970 | -€92,924 | +€484,046 | +83.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€576,970 | -€92,924 | +€484,046 | +83.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.