BOUDENGEN: 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.
BOUDENGEN
Largest movements
- Tangible fixed assets -€19,024
down €19,024 (-18.6%), from €102,239 to €83,215
of which Plant, machinery and equipment: -€18,168
- Receivables within one year +€18,384
up €18,384 (+21.9%), from €83,880 to €102,264
of which Trade receivables: +€26,415
- Stocks and contracts +€7,969
up €7,969 (+21.2%), from €37,664 to €45,633
- Deferred charges and accrued income +€4,014
up €4,014 (+13821.1%), from €29 to €4,043
- Short-term financial debts +€14,740
up €14,740 (+232.8%), from €6,331 to €21,071
- Other debts -€4,647
down €4,647 (-3.2%), from €144,419 to €139,772
- Tax, wage and social debts +€4,169
up €4,169 (+271.7%), from €1,535 to €5,703
of which Taxes: +€4,244
- Trade debts -€2,924
down €2,924 (-3.6%), from €81,680 to €78,756
- Gross operating margin +€43,535
up €43,535 (+658.9%), from €6,607 to €50,142
- Depreciation +€26,503
up €26,503 (+2912.7%), from €910 to €27,413
- Staff costs +€2,687
up €2,687 (+29.8%), from €9,002 to €11,690
- Financial charges +€2,653
up €2,653 (+99.6%), from €2,663 to €5,316
- Taxes +€2,359
up €2,359 (+435.8%), from €541 to €2,900
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 | €227,310 | €238,893 | +€11,583 | +5.1% |
| Formation expenses | 20 | €3,198 | €1,939 | -€1,260 | -39.4% |
| Fixed assets | 21/28 | €102,414 | €83,389 | -€19,024 | -18.6% |
| Tangible fixed assets | 22/27 | €102,239 | €83,215 | -€19,024 | -18.6% |
| Plant, machinery and equipment | 23 | €99,909 | €81,741 | -€18,168 | -18.2% |
| Furniture and vehicles | 24 | €2,330 | €1,474 | -€856 | -36.7% |
| Financial fixed assets | 28 | €175 | €175 | = | 0.0% |
| Current assets | 29/58 | €121,698 | €153,565 | +€31,867 | +26.2% |
| Stocks and contracts in progress | 3 | €37,664 | €45,633 | +€7,969 | +21.2% |
| Stocks | 30/36 | €37,664 | €45,633 | +€7,969 | +21.2% |
| Amounts receivable within one year | 40/41 | €83,880 | €102,264 | +€18,384 | +21.9% |
| Trade receivables | 40 | €75,849 | €102,264 | +€26,415 | +34.8% |
| Other amounts receivable | 41 | €8,031 | - | -€8,031 | |
| Cash at bank and in hand | 54/58 | €125 | €1,625 | +€1,500 | +1201.0% |
| Deferred charges and accrued income | 490/1 | €29 | €4,043 | +€4,014 | +13821.1% |
| Total equity and liabilities | 10/49 | €227,310 | €238,893 | +€11,583 | +5.1% |
| Equity | 10/15 | -€6,654 | -€6,410 | +€245 | +3.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,654 | -€7,410 | +€245 | +3.2% |
| Amounts payable | 17/49 | €233,965 | €245,303 | +€11,338 | +4.8% |
| Amounts payable within one year | 42/48 | €233,965 | €245,303 | +€11,338 | +4.8% |
| Financial debts | 43 | €6,331 | €21,071 | +€14,740 | +232.8% |
| Credit institutions | 430/8 | €6,331 | €21,071 | +€14,740 | +232.8% |
| Trade debts | 44 | €81,680 | €78,756 | -€2,924 | -3.6% |
| Suppliers | 440/4 | €81,680 | €78,756 | -€2,924 | -3.6% |
| Taxes, remuneration and social security | 45 | €1,535 | €5,703 | +€4,169 | +271.7% |
| Taxes | 450/3 | €640 | €4,884 | +€4,244 | +663.1% |
| Remuneration and social security | 454/9 | €895 | €819 | -€76 | -8.4% |
| Other amounts payable | 47/48 | €144,419 | €139,772 | -€4,647 | -3.2% |
| Non-recurring operating income | 76A | - | €616 | +€616 | |
| Remuneration, social security and pensions | 62 | €9,002 | €11,690 | +€2,687 | +29.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €910 | €27,413 | +€26,503 | +2912.7% |
| Other operating charges | 640/8 | €1,414 | €3,603 | +€2,189 | +154.8% |
| Gross operating margin | 9900 | €6,607 | €50,142 | +€43,535 | +658.9% |
| Operating profit (loss) | 9901 | -€4,719 | €7,437 | +€12,156 | |
| Financial income | 75/76B | €269 | €1,024 | +€755 | +280.4% |
| Recurring financial income | 75 | €269 | €1,024 | +€755 | +280.4% |
| Financial charges | 65/66B | €2,663 | €5,316 | +€2,653 | +99.6% |
| Recurring financial charges | 65 | €2,663 | €5,316 | +€2,653 | +99.6% |
| Profit (loss) for the period before taxes | 9903 | -€7,113 | €3,145 | +€10,258 | |
| Income taxes | 67/77 | €541 | €2,900 | +€2,359 | +435.8% |
| Profit (loss) for the period | 9904 | -€7,654 | €245 | +€7,899 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,654 | €245 | +€7,899 |
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 5 October 2026 via checked.be.