BD-BOUW: 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.
BD-BOUW
Largest movements
- Tangible fixed assets +€12,665
up €12,665 (+6.2%), from €205,024 to €217,689
of which Leasing and similar rights: +€35,652
- Deferred charges and accrued income +€8,561
up €8,561 (+296%), from €2,897 to €11,457
- Cash -€4,828
down €4,828 (-6.1%), from €79,718 to €74,890
mainly Investment in fixed assets (net) (-€52,887) and Contributions, distributions and other (-€16,079)
- Other debts +€6,902
up €6,902 (+60.2%), from €11,464 to €18,366
- Debts after one year +€4,543
up €4,543 (+3.8%), from €118,516 to €123,059
- Depreciation +€7,078
up €7,078 (+21.4%), from €33,144 to €40,222
- Staff costs +€6,954
up €6,954 (+14.1%), from €49,435 to €56,389
- Taxes -€5,689
down €5,689 (-42.8%), from €13,304 to €7,615
- Gross operating margin -€3,833
down €3,833 (-2.9%), from €133,619 to €129,785
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 | €313,216 | €331,740 | +€18,524 | +5.9% |
| Fixed assets | 21/28 | €205,024 | €217,689 | +€12,665 | +6.2% |
| Tangible fixed assets | 22/27 | €205,024 | €217,689 | +€12,665 | +6.2% |
| Land and buildings | 22 | €108,654 | €100,334 | -€8,320 | -7.7% |
| Plant, machinery and equipment | 23 | €56,012 | €47,778 | -€8,234 | -14.7% |
| Furniture and vehicles | 24 | €15,670 | €9,238 | -€6,432 | -41.0% |
| Leasing and similar rights | 25 | €24,688 | €60,340 | +€35,652 | +144% |
| Current assets | 29/58 | €108,192 | €114,051 | +€5,859 | +5.4% |
| Amounts receivable within one year | 40/41 | €25,577 | €27,703 | +€2,126 | +8.3% |
| Trade receivables | 40 | €12,581 | €17,105 | +€4,524 | +36.0% |
| Other amounts receivable | 41 | €12,996 | €10,598 | -€2,398 | -18.4% |
| Cash at bank and in hand | 54/58 | €79,718 | €74,890 | -€4,828 | -6.1% |
| Deferred charges and accrued income | 490/1 | €2,897 | €11,457 | +€8,561 | +296% |
| Total equity and liabilities | 10/49 | €313,216 | €331,740 | +€18,524 | +5.9% |
| Equity | 10/15 | €132,556 | €134,261 | +€1,706 | +1.3% |
| Reserves | 13 | €132,556 | €134,261 | +€1,706 | +1.3% |
| Distributable reserves | 133 | €132,556 | €134,261 | +€1,706 | +1.3% |
| Amounts payable | 17/49 | €180,660 | €197,478 | +€16,819 | +9.3% |
| Amounts payable after more than one year | 17 | €118,516 | €123,059 | +€4,543 | +3.8% |
| Financial debts | 170/4 | €118,516 | €123,059 | +€4,543 | +3.8% |
| Amounts payable within one year | 42/48 | €62,144 | €71,289 | +€9,145 | +14.7% |
| Current portion of amounts payable after more than one year | 42 | €27,867 | €27,970 | +€104 | +0.4% |
| Trade debts | 44 | €21,084 | €22,530 | +€1,446 | +6.9% |
| Suppliers | 440/4 | €21,084 | €22,530 | +€1,446 | +6.9% |
| Taxes, remuneration and social security | 45 | €1,730 | €2,423 | +€693 | +40.1% |
| Taxes | 450/3 | €364 | €1,085 | +€721 | +198% |
| Remuneration and social security | 454/9 | €1,366 | €1,338 | -€28 | -2.1% |
| Other amounts payable | 47/48 | €11,464 | €18,366 | +€6,902 | +60.2% |
| Accrued charges and deferred income | 492/3 | - | €3,131 | +€3,131 | |
| Non-recurring operating income | 76A | €1,967 | €1,628 | -€339 | -17.2% |
| Remuneration, social security and pensions | 62 | €49,435 | €56,389 | +€6,954 | +14.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,144 | €40,222 | +€7,078 | +21.4% |
| Other operating charges | 640/8 | €3,626 | €4,061 | +€435 | +12.0% |
| Gross operating margin | 9900 | €133,619 | €129,785 | -€3,833 | -2.9% |
| Operating profit (loss) | 9901 | €47,414 | €29,114 | -€18,301 | -38.6% |
| Financial income | 75/76B | €1,554 | €972 | -€582 | -37.5% |
| Recurring financial income | 75 | €1,554 | €972 | -€582 | -37.5% |
| Financial charges | 65/66B | €4,924 | €4,686 | -€238 | -4.8% |
| Recurring financial charges | 65 | €4,924 | €4,686 | -€238 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | €44,044 | €25,399 | -€18,645 | -42.3% |
| Income taxes | 67/77 | €13,304 | €7,615 | -€5,689 | -42.8% |
| Profit (loss) for the period | 9904 | €30,740 | €17,785 | -€12,955 | -42.1% |
| Profit (loss) for the period to be appropriated | 9905 | €30,740 | €17,785 | -€12,955 | -42.1% |
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 15 October 2026 via checked.be.