BAUWENS ROGER: 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.
BAUWENS ROGER
Largest movements
- Stocks and contracts +€67,752
up €67,752 (+22.7%), from €298,526 to €366,279
- Cash -€64,884
down €64,884 (-96.2%), from €67,428 to €2,544
mainly Stocks and contracts (-€67,752) and Receivables within one year (-€62,336)
- Receivables within one year +€62,336
up €62,336 (+8.3%), from €747,552 to €809,888
of which Other amounts receivable: +€87,838
- Trade debts +€61,634
up €61,634 (+51.7%), from €119,216 to €180,851
- Debts after one year -€29,409
down €29,409 (-33.9%), from €86,749 to €57,340
- Profit (loss) carried forward +€25,046
up €25,046 (+17.9%), from €140,184 to €165,230
- Turnover -€994,791
no longer reported in 2025 (was €994,791)
- Purchases and services -€803,700
no longer reported in 2025 (was €803,700)
- Gross operating margin +€18,541
up €18,541 (+8.3%), from €222,883 to €241,425
- Staff costs -€10,436
down €10,436 (-6.4%), from €162,000 to €151,563
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 | €1,159,616 | €1,227,121 | +€67,505 | +5.8% |
| Fixed assets | 21/28 | €46,110 | €47,683 | +€1,573 | +3.4% |
| Intangible fixed assets | 21 | €6,240 | €17,048 | +€10,808 | +173% |
| Tangible fixed assets | 22/27 | €39,870 | €30,384 | -€9,485 | -23.8% |
| Plant, machinery and equipment | 23 | €4,378 | €3,073 | -€1,305 | -29.8% |
| Furniture and vehicles | 24 | €1,063 | €804 | -€259 | -24.4% |
| Leasing and similar rights | 25 | €34,429 | €26,508 | -€7,921 | -23.0% |
| Financial fixed assets | 28 | - | €250 | +€250 | |
| Current assets | 29/58 | €1,113,507 | €1,179,439 | +€65,932 | +5.9% |
| Stocks and contracts in progress | 3 | €298,526 | €366,279 | +€67,752 | +22.7% |
| Stocks | 30/36 | €298,526 | €366,279 | +€67,752 | +22.7% |
| Amounts receivable within one year | 40/41 | €747,552 | €809,888 | +€62,336 | +8.3% |
| Trade receivables | 40 | €211,363 | €185,860 | -€25,502 | -12.1% |
| Other amounts receivable | 41 | €536,190 | €624,028 | +€87,838 | +16.4% |
| Cash at bank and in hand | 54/58 | €67,428 | €2,544 | -€64,884 | -96.2% |
| Deferred charges and accrued income | 490/1 | - | €728 | +€728 | |
| Total equity and liabilities | 10/49 | €1,159,616 | €1,227,121 | +€67,505 | +5.8% |
| Equity | 10/15 | €569,983 | €595,028 | +€25,046 | +4.4% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €367,825 | €367,825 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €361,628 | €361,628 | = | 0.0% |
| Profit (loss) carried forward | 14 | €140,184 | €165,230 | +€25,046 | +17.9% |
| Amounts payable | 17/49 | €589,634 | €632,093 | +€42,459 | +7.2% |
| Amounts payable after more than one year | 17 | €86,749 | €57,340 | -€29,409 | -33.9% |
| Financial debts | 170/4 | €86,749 | €57,340 | -€29,409 | -33.9% |
| Amounts payable within one year | 42/48 | €502,885 | €574,753 | +€71,868 | +14.3% |
| Current portion of amounts payable after more than one year | 42 | €7,613 | €19,346 | +€11,733 | +154% |
| Financial debts | 43 | €292,621 | €302,439 | +€9,818 | +3.4% |
| Credit institutions | 430/8 | €292,621 | €302,439 | +€9,818 | +3.4% |
| Trade debts | 44 | €119,216 | €180,851 | +€61,634 | +51.7% |
| Suppliers | 440/4 | €119,216 | €180,851 | +€61,634 | +51.7% |
| Taxes, remuneration and social security | 45 | €83,434 | €72,118 | -€11,317 | -13.6% |
| Taxes | 450/3 | €74,085 | €60,006 | -€14,080 | -19.0% |
| Remuneration and social security | 454/9 | €9,349 | €12,112 | +€2,763 | +29.6% |
| Turnover | 70 | €994,791 | - | -€994,791 | |
| Goods, raw materials, services and sundry goods | 60/61 | €803,700 | - | -€803,700 | |
| Remuneration, social security and pensions | 62 | €162,000 | €151,563 | -€10,436 | -6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,901 | €15,717 | +€5,816 | +58.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €1,939 | €1,595 | -€344 | -17.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €222,883 | €241,425 | +€18,541 | +8.3% |
| Operating profit (loss) | 9901 | €49,043 | €72,549 | +€23,506 | +47.9% |
| Financial income | 75/76B | €446 | €0 | -€446 | -99.9% |
| Recurring financial income | 75 | €446 | €0 | -€446 | -99.9% |
| Financial charges | 65/66B | €28,413 | €36,257 | +€7,843 | +27.6% |
| Recurring financial charges | 65 | €28,413 | €36,257 | +€7,843 | +27.6% |
| Profit (loss) for the period before taxes | 9903 | €21,076 | €36,293 | +€15,217 | +72.2% |
| Income taxes | 67/77 | €9,414 | €11,247 | +€1,832 | +19.5% |
| Profit (loss) for the period | 9904 | €11,661 | €25,046 | +€13,384 | +115% |
| Profit (loss) for the period to be appropriated | 9905 | €11,661 | €25,046 | +€13,384 | +115% |
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 20 October 2026 via checked.be.