Bauwers: 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.
Bauwers
Largest movements
- Stocks and contracts -€455,976
no longer reported in 2025 (was €455,976)
- Current investments +€253,324
new in 2025: €253,324
- Receivables within one year +€101,942
up €101,942 (+466%), from €21,861 to €123,803
of which Trade receivables: +€88,330
- Cash -€10,723
down €10,723 (-24.3%), from €44,039 to €33,316
mainly Current investments (-€253,324) and Contributions, distributions and other (-€123,000)
- Other debts -€115,621
down €115,621 (-44.6%), from €259,011 to €143,389
- Debts after one year -€50,000
no longer reported in 2025 (was €50,000)
- Current portion of long-term debt +€50,000
new in 2025: €50,000
- Reserves +€26,182
up €26,182 (+27.9%), from €93,840 to €120,022
of which Tax-exempt reserves: +€42,100
- Contributions -€18,721
down €18,721 (-31.2%), from €60,000 to €41,279
- Gross operating margin +€74,793
up €74,793 (+69.9%), from €107,052 to €181,846
- Taxes +€23,770
up €23,770 (+127%), from €18,732 to €42,502
- Financial charges +€7,882
up €7,882 (+395%), from €1,995 to €9,877
- Financial income +€3,370
new in 2025: €3,370
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 | €525,016 | €412,272 | -€112,743 | -21.5% |
| Formation expenses | 20 | €896 | €442 | -€453 | -50.6% |
| Fixed assets | 21/28 | €2,245 | €1,388 | -€857 | -38.2% |
| Tangible fixed assets | 22/27 | €2,245 | €1,388 | -€857 | -38.2% |
| Plant, machinery and equipment | 23 | €2,245 | €1,388 | -€857 | -38.2% |
| Current assets | 29/58 | €521,875 | €410,443 | -€111,433 | -21.4% |
| Stocks and contracts in progress | 3 | €455,976 | - | -€455,976 | |
| Stocks | 30/36 | €455,976 | - | -€455,976 | |
| Amounts receivable within one year | 40/41 | €21,861 | €123,803 | +€101,942 | +466% |
| Trade receivables | 40 | €13,188 | €101,517 | +€88,330 | +670% |
| Other amounts receivable | 41 | €8,673 | €22,285 | +€13,613 | +157% |
| Current investments | 50/53 | - | €253,324 | +€253,324 | |
| Cash at bank and in hand | 54/58 | €44,039 | €33,316 | -€10,723 | -24.3% |
| Total equity and liabilities | 10/49 | €525,016 | €412,272 | -€112,743 | -21.5% |
| Equity | 10/15 | €153,840 | €161,301 | +€7,461 | +4.8% |
| Contributions | 10/11 | €60,000 | €41,279 | -€18,721 | -31.2% |
| Reserves | 13 | €93,840 | €120,022 | +€26,182 | +27.9% |
| Tax-exempt reserves | 132 | - | €42,100 | +€42,100 | |
| Distributable reserves | 133 | €93,840 | €77,922 | -€15,918 | -17.0% |
| Amounts payable | 17/49 | €371,175 | €250,971 | -€120,204 | -32.4% |
| Amounts payable after more than one year | 17 | €50,000 | - | -€50,000 | |
| Financial debts | 170/4 | €50,000 | - | -€50,000 | |
| Amounts payable within one year | 42/48 | €320,788 | €249,973 | -€70,815 | -22.1% |
| Current portion of amounts payable after more than one year | 42 | - | €50,000 | +€50,000 | |
| Trade debts | 44 | €36,646 | €24,172 | -€12,474 | -34.0% |
| Suppliers | 440/4 | €36,646 | €24,172 | -€12,474 | -34.0% |
| Taxes, remuneration and social security | 45 | €25,132 | €32,411 | +€7,280 | +29.0% |
| Taxes | 450/3 | €24,010 | €27,988 | +€3,978 | +16.6% |
| Remuneration and social security | 454/9 | €1,122 | €4,423 | +€3,301 | +294% |
| Other amounts payable | 47/48 | €259,011 | €143,389 | -€115,621 | -44.6% |
| Accrued charges and deferred income | 492/3 | €387 | €998 | +€611 | +158% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,763 | €1,311 | -€452 | -25.6% |
| Other operating charges | 640/8 | €513 | €1,064 | +€551 | +107% |
| Gross operating margin | 9900 | €107,052 | €181,846 | +€74,793 | +69.9% |
| Operating profit (loss) | 9901 | €104,776 | €179,471 | +€74,694 | +71.3% |
| Financial income | 75/76B | - | €3,370 | +€3,370 | |
| Recurring financial income | 75 | - | €3,370 | +€3,370 | |
| Financial charges | 65/66B | €1,995 | €9,877 | +€7,882 | +395% |
| Recurring financial charges | 65 | €1,995 | €9,877 | +€7,882 | +395% |
| Profit (loss) for the period before taxes | 9903 | €102,781 | €172,963 | +€70,182 | +68.3% |
| Income taxes | 67/77 | €18,732 | €42,502 | +€23,770 | +127% |
| Profit (loss) for the period | 9904 | €84,049 | €130,461 | +€46,412 | +55.2% |
| Transfer to tax-exempt reserves | 689 | - | €42,100 | +€42,100 | |
| Profit (loss) for the period to be appropriated | 9905 | €84,049 | €88,361 | +€4,312 | +5.1% |
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 18 October 2026 via checked.be.