Bothuyne&Roels: 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.
Bothuyne&Roels
Largest movements
- Receivables within one year +€31,452
up €31,452 (+73.5%), from €42,809 to €74,261
of which Trade receivables: +€30,761
- Stocks and contracts +€29,149
up €29,149 (+189%), from €15,402 to €44,551
of which Contracts in progress: +€30,820
- Cash -€14,647
down €14,647 (-10.0%), from €147,150 to €132,503
mainly Receivables within one year (-€31,452) and Stocks and contracts (-€29,149)
- Tangible fixed assets -€12,269
down €12,269 (-38.7%), from €31,716 to €19,447
of which Plant, machinery and equipment: -€6,169
- Reserves +€62,000
up €62,000 (+56.4%), from €110,000 to €172,000
- Tax, wage and social debts -€11,853
no longer reported in 2025 (was €11,853)
- Debts after one year -€11,189
down €11,189 (-46.9%), from €23,877 to €12,688
- Short-term financial debts -€7,094
down €7,094 (-17.4%), from €40,710 to €33,616
- Gross operating margin -€69,810
down €69,810 (-27.6%), from €252,874 to €183,064
- Staff costs -€24,036
down €24,036 (-32.2%), from €74,762 to €50,726
- Other operating charges +€9,279
up €9,279 (+581%), from €1,597 to €10,876
- Depreciation -€6,849
down €6,849 (-33.2%), from €20,608 to €13,759
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 | €237,077 | €272,941 | +€35,864 | +15.1% |
| Fixed assets | 21/28 | €31,716 | €19,447 | -€12,269 | -38.7% |
| Tangible fixed assets | 22/27 | €31,716 | €19,447 | -€12,269 | -38.7% |
| Plant, machinery and equipment | 23 | €16,474 | €10,305 | -€6,169 | -37.4% |
| Furniture and vehicles | 24 | €15,242 | €9,142 | -€6,100 | -40.0% |
| Current assets | 29/58 | €205,361 | €253,494 | +€48,133 | +23.4% |
| Stocks and contracts in progress | 3 | €15,402 | €44,551 | +€29,149 | +189% |
| Stocks | 30/36 | €11,191 | €9,520 | -€1,671 | -14.9% |
| Contracts in progress | 37 | €4,211 | €35,031 | +€30,820 | +732% |
| Amounts receivable within one year | 40/41 | €42,809 | €74,261 | +€31,452 | +73.5% |
| Trade receivables | 40 | €37,973 | €68,734 | +€30,761 | +81.0% |
| Other amounts receivable | 41 | €4,836 | €5,527 | +€691 | +14.3% |
| Cash at bank and in hand | 54/58 | €147,150 | €132,503 | -€14,647 | -10.0% |
| Deferred charges and accrued income | 490/1 | - | €2,179 | +€2,179 | |
| Total equity and liabilities | 10/49 | €237,077 | €272,941 | +€35,864 | +15.1% |
| Equity | 10/15 | €136,306 | €200,018 | +€63,712 | +46.7% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Capital | 10 | €25,000 | - | -€25,000 | |
| Issued capital | 100 | €25,000 | - | -€25,000 | |
| Reserves | 13 | €110,000 | €172,000 | +€62,000 | +56.4% |
| Tax-exempt reserves | 132 | €110,000 | €172,000 | +€62,000 | +56.4% |
| Profit (loss) carried forward | 14 | €1,306 | €3,018 | +€1,712 | +131% |
| Amounts payable | 17/49 | €100,771 | €72,923 | -€27,848 | -27.6% |
| Amounts payable after more than one year | 17 | €23,877 | €12,688 | -€11,189 | -46.9% |
| Financial debts | 170/4 | €23,877 | €12,688 | -€11,189 | -46.9% |
| Amounts payable within one year | 42/48 | €76,894 | €60,235 | -€16,659 | -21.7% |
| Financial debts | 43 | €40,710 | €33,616 | -€7,094 | -17.4% |
| Credit institutions | 430/8 | €40,710 | €33,616 | -€7,094 | -17.4% |
| Trade debts | 44 | €11,363 | €13,606 | +€2,243 | +19.7% |
| Suppliers | 440/4 | €11,363 | €13,606 | +€2,243 | +19.7% |
| Taxes, remuneration and social security | 45 | €11,853 | - | -€11,853 | |
| Taxes | 450/3 | €11,853 | - | -€11,853 | |
| Other amounts payable | 47/48 | €12,968 | €13,013 | +€45 | +0.3% |
| Remuneration, social security and pensions | 62 | €74,762 | €50,726 | -€24,036 | -32.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,608 | €13,759 | -€6,849 | -33.2% |
| Other operating charges | 640/8 | €1,597 | €10,876 | +€9,279 | +581% |
| Gross operating margin | 9900 | €252,874 | €183,064 | -€69,810 | -27.6% |
| Operating profit (loss) | 9901 | €155,907 | €107,703 | -€48,204 | -30.9% |
| Financial charges | 65/66B | €2,601 | €2,040 | -€561 | -21.6% |
| Recurring financial charges | 65 | €2,601 | €2,040 | -€561 | -21.6% |
| Non-recurring financial charges | 66B | €2,601 | €2,040 | -€561 | -21.6% |
| Profit (loss) for the period before taxes | 9903 | €153,306 | €105,663 | -€47,643 | -31.1% |
| Income taxes | 67/77 | €42,000 | €41,951 | -€49 | -0.1% |
| Profit (loss) for the period | 9904 | €111,306 | €63,712 | -€47,594 | -42.8% |
| Profit (loss) for the period to be appropriated | 9905 | €111,306 | €63,712 | -€47,594 | -42.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.