BAUWERAERTS: 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.
BAUWERAERTS
Largest movements
- Cash +€19,906
up €19,906 (+54.2%), from €36,740 to €56,646
mainly Net result for the year (+€14,722) and Tax, wage and social debts (+€8,078)
- Tangible fixed assets -€3,467
down €3,467 (-29.8%), from €11,651 to €8,184
of which Furniture and vehicles: -€2,295
- Receivables within one year -€1,011
down €1,011 (-32.8%), from €3,085 to €2,074
of which Other amounts receivable: -€780
- Reserves +€14,722
up €14,722 (+86.6%), from €17,004 to €31,726
- Tax, wage and social debts +€8,078
up €8,078 (+486%), from €1,662 to €9,740
of which Taxes: +€5,182
- Trade debts -€4,221
down €4,221 (-79.5%), from €5,308 to €1,087
- Current portion of long-term debt -€2,973
no longer reported in 2025 (was €2,973)
- Staff costs -€8,506
down €8,506 (-29.0%), from €29,351 to €20,846
- Taxes +€4,473
up €4,473 (+293%), from €1,525 to €5,997
- Other operating charges -€2,193
down €2,193 (-53.0%), from €4,136 to €1,942
- Gross operating margin -€1,156
down €1,156 (-2.3%), from €51,343 to €50,187
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 | €54,701 | €69,754 | +€15,053 | +27.5% |
| Fixed assets | 21/28 | €14,036 | €10,569 | -€3,467 | -24.7% |
| Tangible fixed assets | 22/27 | €11,651 | €8,184 | -€3,467 | -29.8% |
| Plant, machinery and equipment | 23 | €3,644 | €2,473 | -€1,172 | -32.2% |
| Furniture and vehicles | 24 | €8,006 | €5,711 | -€2,295 | -28.7% |
| Financial fixed assets | 28 | €2,385 | €2,385 | = | 0.0% |
| Current assets | 29/58 | €40,665 | €59,185 | +€18,520 | +45.5% |
| Stocks and contracts in progress | 3 | €840 | €465 | -€375 | -44.6% |
| Stocks | 30/36 | €840 | €465 | -€375 | -44.6% |
| Amounts receivable within one year | 40/41 | €3,085 | €2,074 | -€1,011 | -32.8% |
| Trade receivables | 40 | €2,305 | €2,074 | -€231 | -10.0% |
| Other amounts receivable | 41 | €780 | - | -€780 | |
| Cash at bank and in hand | 54/58 | €36,740 | €56,646 | +€19,906 | +54.2% |
| Total equity and liabilities | 10/49 | €54,701 | €69,754 | +€15,053 | +27.5% |
| Equity | 10/15 | €33,117 | €47,839 | +€14,722 | +44.5% |
| Contributions | 10/11 | €16,113 | €16,113 | = | 0.0% |
| Reserves | 13 | €17,004 | €31,726 | +€14,722 | +86.6% |
| Distributable reserves | 133 | €17,004 | €31,726 | +€14,722 | +86.6% |
| Amounts payable | 17/49 | €21,584 | €21,916 | +€332 | +1.5% |
| Amounts payable within one year | 42/48 | €21,584 | €21,916 | +€332 | +1.5% |
| Current portion of amounts payable after more than one year | 42 | €2,973 | - | -€2,973 | |
| Financial debts | 43 | €313 | €302 | -€11 | -3.4% |
| Credit institutions | 430/8 | €313 | - | -€313 | |
| Other loans | 439 | - | €302 | +€302 | |
| Trade debts | 44 | €5,308 | €1,087 | -€4,221 | -79.5% |
| Suppliers | 440/4 | €5,308 | €1,087 | -€4,221 | -79.5% |
| Taxes, remuneration and social security | 45 | €1,662 | €9,740 | +€8,078 | +486% |
| Taxes | 450/3 | €982 | €6,165 | +€5,182 | +528% |
| Remuneration and social security | 454/9 | €680 | €3,575 | +€2,895 | +426% |
| Other amounts payable | 47/48 | €11,329 | €10,787 | -€541 | -4.8% |
| Remuneration, social security and pensions | 62 | €29,351 | €20,846 | -€8,506 | -29.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,156 | €6,762 | -€394 | -5.5% |
| Other operating charges | 640/8 | €4,136 | €1,942 | -€2,193 | -53.0% |
| Gross operating margin | 9900 | €51,343 | €50,187 | -€1,156 | -2.3% |
| Operating profit (loss) | 9901 | €10,700 | €20,637 | +€9,937 | +92.9% |
| Financial income | 75/76B | - | €101 | +€101 | |
| Recurring financial income | 75 | - | €101 | +€101 | |
| Financial charges | 65/66B | €121 | €19 | -€102 | -84.5% |
| Recurring financial charges | 65 | €121 | €19 | -€102 | -84.5% |
| Profit (loss) for the period before taxes | 9903 | €10,579 | €20,719 | +€10,140 | +95.8% |
| Income taxes | 67/77 | €1,525 | €5,997 | +€4,473 | +293% |
| Profit (loss) for the period | 9904 | €9,054 | €14,722 | +€5,667 | +62.6% |
| Profit (loss) for the period to be appropriated | 9905 | €9,054 | €14,722 | +€5,667 | +62.6% |
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 25 October 2026 via checked.be.