BOUCQUET: 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.
BOUCQUET
Largest movements
- Receivables within one year +€804,622
up €804,622 (+69.0%), from €1.2m to €2.0m
of which Trade receivables: +€713,782
- Deferred charges and accrued income -€392,173
down €392,173 (-81.7%), from €480,091 to €87,918
- Tangible fixed assets -€267,783
down €267,783 (-12.6%), from €2.1m to €1.9m
of which Leasing and similar rights: -€234,599
- Cash +€176,078
up €176,078 (+434%), from €40,542 to €216,621
mainly Depreciation (+€621,297) and Net result for the year (+€563,843)
- Debts after one year -€447,423
down €447,423 (-34.5%), from €1.3m to €849,404
- Reserves +€413,843
up €413,843 (+24.5%), from €1.7m to €2.1m
of which Distributable reserves: +€361,703
- Trade debts +€140,210
up €140,210 (+79.0%), from €177,498 to €317,708
- Other debts +€100,000
up €100,000 (+200%), from €50,000 to €150,000
- Tax, wage and social debts +€88,273
up €88,273 (+150%), from €58,847 to €147,120
of which Taxes: +€90,609
- Gross operating margin +€664,538
up €664,538 (+47.8%), from €1.4m to €2.1m
- Depreciation +€148,792
up €148,792 (+31.5%), from €472,505 to €621,297
- Staff costs +€75,624
up €75,624 (+12.9%), from €588,279 to €663,903
- Taxes +€48,251
up €48,251 (+72.6%), from €66,438 to €114,689
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 | €3,955,411 | €4,299,336 | +€343,925 | +8.7% |
| Fixed assets | 21/28 | €2,138,529 | €1,870,746 | -€267,783 | -12.5% |
| Tangible fixed assets | 22/27 | €2,131,043 | €1,863,260 | -€267,783 | -12.6% |
| Land and buildings | 22 | €262,557 | €256,033 | -€6,524 | -2.5% |
| Plant, machinery and equipment | 23 | €127,169 | €84,301 | -€42,868 | -33.7% |
| Furniture and vehicles | 24 | €678,485 | €694,694 | +€16,208 | +2.4% |
| Leasing and similar rights | 25 | €1,062,831 | €828,232 | -€234,599 | -22.1% |
| Financial fixed assets | 28 | €7,486 | €7,486 | = | 0.0% |
| Current assets | 29/58 | €1,816,882 | €2,428,590 | +€611,708 | +33.7% |
| Amounts receivable after more than one year | 29 | €129,841 | €134,385 | +€4,544 | +3.5% |
| Other amounts receivable | 291 | €129,841 | €134,385 | +€4,544 | +3.5% |
| Stocks and contracts in progress | 3 | - | €18,637 | +€18,637 | |
| Stocks | 30/36 | - | €18,637 | +€18,637 | |
| Amounts receivable within one year | 40/41 | €1,166,407 | €1,971,029 | +€804,622 | +69.0% |
| Trade receivables | 40 | €960,140 | €1,673,922 | +€713,782 | +74.3% |
| Other amounts receivable | 41 | €206,267 | €297,107 | +€90,840 | +44.0% |
| Cash at bank and in hand | 54/58 | €40,542 | €216,621 | +€176,078 | +434% |
| Deferred charges and accrued income | 490/1 | €480,091 | €87,918 | -€392,173 | -81.7% |
| Total equity and liabilities | 10/49 | €3,955,411 | €4,299,336 | +€343,925 | +8.7% |
| Equity | 10/15 | €1,711,123 | €2,124,967 | +€413,843 | +24.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,692,531 | €2,106,375 | +€413,843 | +24.5% |
| Non-distributable reserves | 130/1 | €1,859 | €0 | -€1,859 | -100% |
| Reserves not available under the articles | 1311 | €1,859 | €0 | -€1,859 | -100% |
| Tax-exempt reserves | 132 | - | €54,000 | +€54,000 | |
| Distributable reserves | 133 | €1,690,672 | €2,052,375 | +€361,703 | +21.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €45,120 | €18,000 | -€27,120 | -60.1% |
| Provisions for liabilities and charges | 160/5 | €45,120 | €0 | -€45,120 | -100% |
| Pensions and similar obligations | 160 | €45,120 | €0 | -€45,120 | -100% |
| Deferred taxes | 168 | - | €18,000 | +€18,000 | |
| Amounts payable | 17/49 | €2,199,168 | €2,156,369 | -€42,798 | -1.9% |
| Amounts payable after more than one year | 17 | €1,296,828 | €849,404 | -€447,423 | -34.5% |
| Financial debts | 170/4 | €1,296,828 | €849,404 | -€447,423 | -34.5% |
| Amounts payable within one year | 42/48 | €900,940 | €1,306,545 | +€405,605 | +45.0% |
| Current portion of amounts payable after more than one year | 42 | €487,246 | €490,165 | +€2,919 | +0.6% |
| Financial debts | 43 | €127,349 | €201,551 | +€74,202 | +58.3% |
| Credit institutions | 430/8 | €127,349 | €201,551 | +€74,202 | +58.3% |
| Trade debts | 44 | €177,498 | €317,708 | +€140,210 | +79.0% |
| Suppliers | 440/4 | €177,498 | €317,708 | +€140,210 | +79.0% |
| Taxes, remuneration and social security | 45 | €58,847 | €147,120 | +€88,273 | +150% |
| Taxes | 450/3 | €35,212 | €125,821 | +€90,609 | +257% |
| Remuneration and social security | 454/9 | €23,635 | €21,300 | -€2,335 | -9.9% |
| Other amounts payable | 47/48 | €50,000 | €150,000 | +€100,000 | +200% |
| Accrued charges and deferred income | 492/3 | €1,400 | €420 | -€980 | -70.0% |
| Non-recurring operating income | 76A | €0 | €207,791 | +€207,791 | |
| Remuneration, social security and pensions | 62 | €588,279 | €663,903 | +€75,624 | +12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €472,505 | €621,297 | +€148,792 | +31.5% |
| Other operating charges | 640/8 | €21,869 | €22,467 | +€598 | +2.7% |
| Gross operating margin | 9900 | €1,390,461 | €2,054,999 | +€664,538 | +47.8% |
| Operating profit (loss) | 9901 | €307,808 | €747,332 | +€439,524 | +143% |
| Financial income | 75/76B | €8,231 | €12,126 | +€3,896 | +47.3% |
| Recurring financial income | 75 | €8,231 | €12,126 | +€3,896 | +47.3% |
| Financial charges | 65/66B | €57,619 | €62,927 | +€5,308 | +9.2% |
| Recurring financial charges | 65 | €57,619 | €62,927 | +€5,308 | +9.2% |
| Profit (loss) for the period before taxes | 9903 | €258,420 | €696,532 | +€438,112 | +170% |
| Transfer to deferred taxes | 680 | - | €18,000 | +€18,000 | |
| Income taxes | 67/77 | €66,438 | €114,689 | +€48,251 | +72.6% |
| Profit (loss) for the period | 9904 | €191,982 | €563,843 | +€371,861 | +194% |
| Transfer to tax-exempt reserves | 689 | - | €54,000 | +€54,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €191,982 | €509,843 | +€317,861 | +166% |
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 18 October 2026 via checked.be.