BOUCAN Brussels: 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.
BOUCAN Brussels
Largest movements
- Intangible fixed assets -€975,446
down €975,446 (-80.4%), from €1.2m to €238,165
- Receivables within one year -€218,410
down €218,410 (-17.5%), from €1.2m to €1.0m
of which Other amounts receivable: -€254,200
- Cash +€55,503
up €55,503 (+205%), from €27,072 to €82,575
mainly Depreciation (+€976,791) and Receivables within one year (+€218,410)
- Investment grants -€1.1m
down €1.1m (-99.1%), from €1.1m to €10,000
- Short-term financial debts +€154,745
new in 2025: €154,745
- Trade debts -€132,590
down €132,590 (-35.1%), from €377,328 to €244,737
- Current portion of long-term debt -€30,941
down €30,941 (-40.8%), from €75,788 to €44,848
- Tax, wage and social debts -€29,883
down €29,883 (-33.5%), from €89,164 to €59,281
of which Taxes: -€20,902
- Gross operating margin -€2.8m
down €2.8m (-71.5%), from €3.9m to €1.1m
- Depreciation -€2.7m
down €2.7m (-73.8%), from €3.7m to €976,791
- Staff costs -€75,779
down €75,779 (-39.4%), from €192,320 to €116,541
- Financial income -€65,972
down €65,972 (-99.8%), from €66,109 to €138
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 | €2,492,175 | €1,353,020 | -€1.1m | -45.7% |
| Fixed assets | 21/28 | €1,217,389 | €241,248 | -€976,142 | -80.2% |
| Intangible fixed assets | 21 | €1,213,611 | €238,165 | -€975,446 | -80.4% |
| Tangible fixed assets | 22/27 | €2,179 | €1,483 | -€696 | -31.9% |
| Furniture and vehicles | 24 | €2,179 | €1,483 | -€696 | -31.9% |
| Financial fixed assets | 28 | €1,600 | €1,600 | = | 0.0% |
| Current assets | 29/58 | €1,274,786 | €1,111,772 | -€163,014 | -12.8% |
| Amounts receivable within one year | 40/41 | €1,247,608 | €1,029,198 | -€218,410 | -17.5% |
| Trade receivables | 40 | €210,271 | €246,062 | +€35,790 | +17.0% |
| Other amounts receivable | 41 | €1,037,337 | €783,136 | -€254,200 | -24.5% |
| Cash at bank and in hand | 54/58 | €27,072 | €82,575 | +€55,503 | +205% |
| Deferred charges and accrued income | 490/1 | €106 | - | -€106 | |
| Total equity and liabilities | 10/49 | €2,492,175 | €1,353,020 | -€1.1m | -45.7% |
| Equity | 10/15 | €1,248,938 | €137,261 | -€1.1m | -89.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €112,023 | €121,060 | +€9,038 | +8.1% |
| Investment grants | 15 | €1,130,715 | €10,000 | -€1.1m | -99.1% |
| Amounts payable | 17/49 | €1,243,237 | €1,215,759 | -€27,478 | -2.2% |
| Amounts payable after more than one year | 17 | €89,750 | €87,950 | -€1,800 | -2.0% |
| Financial debts | 170/4 | €49,750 | €49,750 | = | 0.0% |
| Other amounts payable | 178/9 | €40,000 | €38,200 | -€1,800 | -4.5% |
| Amounts payable within one year | 42/48 | €1,153,487 | €1,127,809 | -€25,678 | -2.2% |
| Current portion of amounts payable after more than one year | 42 | €75,788 | €44,848 | -€30,941 | -40.8% |
| Financial debts | 43 | - | €154,745 | +€154,745 | |
| Credit institutions | 430/8 | - | €154,745 | +€154,745 | |
| Trade debts | 44 | €377,328 | €244,737 | -€132,590 | -35.1% |
| Suppliers | 440/4 | €377,328 | €244,737 | -€132,590 | -35.1% |
| Taxes, remuneration and social security | 45 | €89,164 | €59,281 | -€29,883 | -33.5% |
| Taxes | 450/3 | €56,357 | €35,454 | -€20,902 | -37.1% |
| Remuneration and social security | 454/9 | €32,808 | €23,827 | -€8,981 | -27.4% |
| Other amounts payable | 47/48 | €611,207 | €624,198 | +€12,991 | +2.1% |
| Non-recurring operating income | 76A | €20,500 | - | -€20,500 | |
| Remuneration, social security and pensions | 62 | €192,320 | €116,541 | -€75,779 | -39.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,722,695 | €976,791 | -€2.7m | -73.8% |
| Other operating charges | 640/8 | €17,115 | €831 | -€16,284 | -95.1% |
| Non-recurring operating charges | 66A | €23,197 | €1,579 | -€21,618 | -93.2% |
| Gross operating margin | 9900 | €3,946,491 | €1,125,730 | -€2.8m | -71.5% |
| Operating profit (loss) | 9901 | -€8,837 | €29,988 | +€38,825 | |
| Financial income | 75/76B | €66,109 | €138 | -€65,972 | -99.8% |
| Recurring financial income | 75 | €66,109 | €138 | -€65,972 | -99.8% |
| Financial charges | 65/66B | €49,810 | €15,443 | -€34,367 | -69.0% |
| Recurring financial charges | 65 | €49,810 | €15,443 | -€34,367 | -69.0% |
| Profit (loss) for the period before taxes | 9903 | €7,463 | €14,683 | +€7,220 | +96.8% |
| Income taxes | 67/77 | - | €5,645 | +€5,645 | |
| Profit (loss) for the period | 9904 | €7,463 | €9,038 | +€1,575 | +21.1% |
| Profit (loss) for the period to be appropriated | 9905 | €7,463 | €9,038 | +€1,575 | +21.1% |
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 16 October 2026 via checked.be.