BAUWENS THOMAS: 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 THOMAS
Largest movements
- Cash -€50,724
down €50,724 (-58.8%), from €86,303 to €35,579
mainly Contributions, distributions and other (-€95,863) and Investment in fixed assets (net) (-€42,851)
- Tangible fixed assets +€38,882
new in 2025: €38,882
- Receivables within one year +€21,013
up €21,013 (+151%), from €13,933 to €34,946
of which Trade receivables: +€21,013
- Other debts -€23,645
down €23,645 (-48.9%), from €48,337 to €24,692
- Current portion of long-term debt +€21,314
new in 2025: €21,314
- Debts after one year +€14,574
new in 2025: €14,574
- Tax, wage and social debts -€2,057
down €2,057 (-4.4%), from €46,846 to €44,789
- Gross operating margin +€17,711
up €17,711 (+15.5%), from €113,992 to €131,703
- Depreciation +€3,968
new in 2025: €3,968
- Taxes +€3,818
up €3,818 (+15.8%), from €24,139 to €27,957
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 | €100,236 | €110,370 | +€10,133 | +10.1% |
| Fixed assets | 21/28 | - | €38,882 | +€38,882 | |
| Tangible fixed assets | 22/27 | - | €38,882 | +€38,882 | |
| Leasing and similar rights | 25 | - | €38,882 | +€38,882 | |
| Current assets | 29/58 | €100,236 | €71,487 | -€28,749 | -28.7% |
| Amounts receivable within one year | 40/41 | €13,933 | €34,946 | +€21,013 | +151% |
| Trade receivables | 40 | €13,933 | €34,946 | +€21,013 | +151% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €86,303 | €35,579 | -€50,724 | -58.8% |
| Deferred charges and accrued income | 490/1 | - | €962 | +€962 | |
| Total equity and liabilities | 10/49 | €100,236 | €110,370 | +€10,133 | +10.1% |
| Equity | 10/15 | €5,000 | €5,000 | = | 0.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €95,236 | €105,370 | +€10,133 | +10.6% |
| Amounts payable after more than one year | 17 | - | €14,574 | +€14,574 | |
| Financial debts | 170/4 | - | €14,574 | +€14,574 | |
| Amounts payable within one year | 42/48 | €95,236 | €90,795 | -€4,441 | -4.7% |
| Current portion of amounts payable after more than one year | 42 | - | €21,314 | +€21,314 | |
| Trade debts | 44 | €54 | €0 | -€54 | -100% |
| Suppliers | 440/4 | €54 | €0 | -€54 | -100% |
| Taxes, remuneration and social security | 45 | €46,846 | €44,789 | -€2,057 | -4.4% |
| Taxes | 450/3 | €46,846 | €44,789 | -€2,057 | -4.4% |
| Other amounts payable | 47/48 | €48,337 | €24,692 | -€23,645 | -48.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €3,968 | +€3,968 | |
| Other operating charges | 640/8 | €777 | €2,000 | +€1,223 | +157% |
| Gross operating margin | 9900 | €113,992 | €131,703 | +€17,711 | +15.5% |
| Operating profit (loss) | 9901 | €113,215 | €125,736 | +€12,521 | +11.1% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €612 | €1,915 | +€1,302 | +213% |
| Recurring financial charges | 65 | €612 | €1,915 | +€1,302 | +213% |
| Profit (loss) for the period before taxes | 9903 | €112,603 | €123,821 | +€11,218 | +10.0% |
| Income taxes | 67/77 | €24,139 | €27,957 | +€3,818 | +15.8% |
| Profit (loss) for the period | 9904 | €88,464 | €95,863 | +€7,400 | +8.4% |
| Profit (loss) for the period to be appropriated | 9905 | €88,464 | €95,863 | +€7,400 | +8.4% |
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.