BOLWERK: 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.
BOLWERK
Largest movements
- Cash -€5,058
down €5,058 (-39.0%), from €12,963 to €7,905
mainly Net result for the year (-€4,810) and Trade debts (-€661)
- Receivables within one year +€454
up €454 (+18.1%), from €2,514 to €2,968
of which Trade receivables: +€334
- Profit (loss) carried forward -€4,810
down €4,810 (-10.0%), from -€47,927 to -€52,737
- Other debts +€871
up €871 (+420.8%), from €207 to €1,078
- Trade debts -€661
down €661 (-37.3%), from €1,772 to €1,111
- Gross operating margin -€2,123
down €2,123 (-134.3%), from -€1,581 to -€3,704
- Depreciation -€508
down €508 (-96.4%), from €527 to €19
- Other operating charges +€228
up €228 (+27.0%), from €845 to €1,073
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.
Cash bridge derived
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 | €18,941 | €14,336 | -€4,605 | -24.3% |
| Fixed assets | 21/28 | €3,019 | €3,000 | -€19 | -0.6% |
| Tangible fixed assets | 22/27 | €19 | - | -€19 | |
| Other tangible fixed assets | 26 | €19 | - | -€19 | |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €15,922 | €11,336 | -€4,586 | -28.8% |
| Amounts receivable within one year | 40/41 | €2,514 | €2,968 | +€454 | +18.1% |
| Trade receivables | 40 | €2,440 | €2,774 | +€334 | +13.7% |
| Other amounts receivable | 41 | €74 | €194 | +€120 | +162.2% |
| Cash at bank and in hand | 54/58 | €12,963 | €7,905 | -€5,058 | -39.0% |
| Deferred charges and accrued income | 490/1 | €445 | €463 | +€18 | +4.0% |
| Total equity and liabilities | 10/49 | €18,941 | €14,336 | -€4,605 | -24.3% |
| Equity | 10/15 | -€13,624 | -€18,435 | -€4,811 | -35.3% |
| Contributions | 10/11 | €18,593 | €18,592 | -€1 | 0.0% |
| Contributions outside capital | 11 | €18,593 | €18,592 | -€1 | 0.0% |
| Share premium | 1100/10 | €18,593 | €18,592 | -€1 | 0.0% |
| Reserves | 13 | €15,710 | €15,710 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €13,851 | €13,851 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€47,927 | -€52,737 | -€4,810 | -10.0% |
| Amounts payable | 17/49 | €32,565 | €32,771 | +€206 | +0.6% |
| Amounts payable after more than one year | 17 | €26,000 | €26,000 | = | 0.0% |
| Financial debts | 170/4 | €26,000 | €26,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €4,936 | €5,142 | +€206 | +4.2% |
| Trade debts | 44 | €1,772 | €1,111 | -€661 | -37.3% |
| Suppliers | 440/4 | €1,772 | €1,111 | -€661 | -37.3% |
| Taxes, remuneration and social security | 45 | €2,957 | €2,953 | -€4 | -0.1% |
| Taxes | 450/3 | €2,957 | €2,953 | -€4 | -0.1% |
| Other amounts payable | 47/48 | €207 | €1,078 | +€871 | +420.8% |
| Accrued charges and deferred income | 492/3 | €1,629 | €1,629 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €527 | €19 | -€508 | -96.4% |
| Other operating charges | 640/8 | €845 | €1,073 | +€228 | +27.0% |
| Gross operating margin | 9900 | -€1,581 | -€3,704 | -€2,123 | -134.3% |
| Operating profit (loss) | 9901 | -€2,953 | -€4,796 | -€1,843 | -62.4% |
| Financial income | 75/76B | €125 | €116 | -€9 | -7.2% |
| Recurring financial income | 75 | €125 | €116 | -€9 | -7.2% |
| Financial charges | 65/66B | €131 | €130 | -€1 | -0.8% |
| Recurring financial charges | 65 | €131 | €130 | -€1 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | -€2,959 | -€4,810 | -€1,851 | -62.6% |
| Profit (loss) for the period | 9904 | -€2,959 | -€4,810 | -€1,851 | -62.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,959 | -€4,810 | -€1,851 | -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 11 October 2026 via checked.be.