BOUCKAERT: what changed
Two fiscal 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.
BOUCKAERT
Largest movements
- Receivables within one year -€24,629
down €24,629 (-81.2%), from €30,321 to €5,692
- Tangible fixed assets -€18,808
down €18,808 (-9.3%), from €202,323 to €183,515
of which Land and buildings: -€19,276
- Debts after one year -€63,618
down €63,618 (-28.9%), from €220,455 to €156,837
- Profit (loss) carried forward +€22,056
up €22,056 (+59.9%), from -€36,799 to -€14,743
- Tax, wage and social debts -€6,280
down €6,280 (-56.1%), from €11,200 to €4,920
- Trade debts +€3,942
new in 2025: €3,942
- Gross operating margin -€18,403
down €18,403 (-21.3%), from €86,243 to €67,840
- Taxes -€4,402
down €4,402 (-30.9%), from €14,224 to €9,822
- Financial charges +€1,645
up €1,645 (+20.2%), from €8,129 to €9,774
- Depreciation +€989
up €989 (+4.8%), from €20,427 to €21,416
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 | €236,285 | €193,942 | -€42,343 | -17.9% |
| Fixed assets | 21/28 | €202,673 | €183,865 | -€18,808 | -9.3% |
| Tangible fixed assets | 22/27 | €202,323 | €183,515 | -€18,808 | -9.3% |
| Land and buildings | 22 | €194,930 | €175,654 | -€19,276 | -9.9% |
| Plant, machinery and equipment | 23 | €339 | €2,250 | +€1,911 | +563.7% |
| Furniture and vehicles | 24 | €7,054 | €5,611 | -€1,443 | -20.5% |
| Financial fixed assets | 28 | €350 | €350 | = | 0.0% |
| Current assets | 29/58 | €33,612 | €10,077 | -€23,535 | -70.0% |
| Amounts receivable within one year | 40/41 | €30,321 | €5,692 | -€24,629 | -81.2% |
| Other amounts receivable | 41 | €30,321 | €5,692 | -€24,629 | -81.2% |
| Cash at bank and in hand | 54/58 | €3,291 | €4,385 | +€1,094 | +33.2% |
| Total equity and liabilities | 10/49 | €236,285 | €193,942 | -€42,343 | -17.9% |
| Equity | 10/15 | -€11,432 | €10,624 | +€22,056 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €19,167 | €19,167 | = | 0.0% |
| Distributable reserves | 133 | €19,167 | €19,167 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36,799 | -€14,743 | +€22,056 | +59.9% |
| Amounts payable | 17/49 | €247,717 | €183,318 | -€64,399 | -26.0% |
| Amounts payable after more than one year | 17 | €220,455 | €156,837 | -€63,618 | -28.9% |
| Financial debts | 170/4 | €220,455 | €156,837 | -€63,618 | -28.9% |
| Amounts payable within one year | 42/48 | €27,262 | €26,481 | -€781 | -2.9% |
| Current portion of amounts payable after more than one year | 42 | €13,221 | €14,678 | +€1,457 | +11.0% |
| Trade debts | 44 | - | €3,942 | +€3,942 | |
| Suppliers | 440/4 | - | €3,942 | +€3,942 | |
| Taxes, remuneration and social security | 45 | €11,200 | €4,920 | -€6,280 | -56.1% |
| Taxes | 450/3 | €11,200 | €4,920 | -€6,280 | -56.1% |
| Other amounts payable | 47/48 | €2,841 | €2,941 | +€100 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,427 | €21,416 | +€989 | +4.8% |
| Other operating charges | 640/8 | €6,954 | €6,184 | -€770 | -11.1% |
| Gross operating margin | 9900 | €86,243 | €67,840 | -€18,403 | -21.3% |
| Operating profit (loss) | 9901 | €58,862 | €40,240 | -€18,622 | -31.6% |
| Financial income | 75/76B | €1,066 | €1,412 | +€346 | +32.5% |
| Recurring financial income | 75 | €1,066 | €1,412 | +€346 | +32.5% |
| Financial charges | 65/66B | €8,129 | €9,774 | +€1,645 | +20.2% |
| Recurring financial charges | 65 | €8,129 | €9,774 | +€1,645 | +20.2% |
| Profit (loss) for the period before taxes | 9903 | €51,799 | €31,878 | -€19,921 | -38.5% |
| Income taxes | 67/77 | €14,224 | €9,822 | -€4,402 | -30.9% |
| Profit (loss) for the period | 9904 | €37,575 | €22,056 | -€15,519 | -41.3% |
| Profit (loss) for the period to be appropriated | 9905 | €37,575 | €22,056 | -€15,519 | -41.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.