BOUDEWIJN PROJECTEN: 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.
BOUDEWIJN PROJECTEN
Largest movements
- Tangible fixed assets -€157,446
down €157,446 (-34.2%), from €459,746 to €302,300
- Receivables within one year +€56,682
up €56,682 (+154%), from €36,812 to €93,494
- Debts after one year -€160,116
down €160,116 (-41.0%), from €390,723 to €230,607
of which Financial debts: -€160,116
- Tax, wage and social debts +€27,380
new in 2025: €27,380
of which Remuneration and social security: +€24,559
- Trade debts +€26,816
up €26,816 (+4,339%), from €618 to €27,434
- Financial income -€143,840
down €143,840 (-79.9%), from €179,930 to €36,090
of which Non-recurring financial income: -€143,045
- Purchases and services -€117,398
down €117,398 (-53.2%), from €220,701 to €103,303
- Other operating charges -€39,986
no longer reported in 2025 (was €39,986)
- Gross operating margin +€26,745
up €26,745 (+80.6%), from -€33,175 to -€6,430
- Financial charges -€14,208
down €14,208 (-44.7%), from €31,804 to €17,596
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 | €499,717 | €396,142 | -€103,575 | -20.7% |
| Fixed assets | 21/28 | €460,091 | €302,645 | -€157,446 | -34.2% |
| Tangible fixed assets | 22/27 | €459,746 | €302,300 | -€157,446 | -34.2% |
| Land and buildings | 22 | €459,746 | €302,300 | -€157,446 | -34.2% |
| Financial fixed assets | 28 | €345 | €345 | = | 0.0% |
| Current assets | 29/58 | €39,626 | €93,497 | +€53,871 | +136% |
| Amounts receivable within one year | 40/41 | €36,812 | €93,494 | +€56,682 | +154% |
| Other amounts receivable | 41 | €36,812 | €93,494 | +€56,682 | +154% |
| Cash at bank and in hand | 54/58 | €2,814 | €3 | -€2,811 | -99.9% |
| Total equity and liabilities | 10/49 | €499,717 | €396,142 | -€103,575 | -20.7% |
| Equity | 10/15 | €94,268 | €95,999 | +€1,731 | +1.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €91,768 | €93,499 | +€1,731 | +1.9% |
| Amounts payable | 17/49 | €405,449 | €300,143 | -€105,306 | -26.0% |
| Amounts payable after more than one year | 17 | €390,723 | €230,607 | -€160,116 | -41.0% |
| Financial debts | 170/4 | €385,993 | €225,877 | -€160,116 | -41.5% |
| Other amounts payable | 178/9 | €4,730 | €4,730 | = | 0.0% |
| Amounts payable within one year | 42/48 | €14,726 | €69,536 | +€54,810 | +372% |
| Current portion of amounts payable after more than one year | 42 | €14,108 | €14,722 | +€614 | +4.4% |
| Trade debts | 44 | €618 | €27,434 | +€26,816 | +4,339% |
| Suppliers | 440/4 | €618 | €27,434 | +€26,816 | +4,339% |
| Taxes, remuneration and social security | 45 | - | €27,380 | +€27,380 | |
| Taxes | 450/3 | - | €2,821 | +€2,821 | |
| Remuneration and social security | 454/9 | - | €24,559 | +€24,559 | |
| Goods, raw materials, services and sundry goods | 60/61 | €220,701 | €103,303 | -€117,398 | -53.2% |
| Remuneration, social security and pensions | 62 | -€236 | €28 | +€264 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,896 | €6,635 | -€261 | -3.8% |
| Other operating charges | 640/8 | €39,986 | - | -€39,986 | |
| Gross operating margin | 9900 | -€33,175 | -€6,430 | +€26,745 | +80.6% |
| Operating profit (loss) | 9901 | -€79,821 | -€13,093 | +€66,728 | +83.6% |
| Financial income | 75/76B | €179,930 | €36,090 | -€143,840 | -79.9% |
| Recurring financial income | 75 | €795 | €36,090 | +€35,295 | +4,440% |
| Non-recurring financial income | 76B | €179,135 | €36,090 | -€143,045 | -79.9% |
| Financial charges | 65/66B | €31,804 | €17,596 | -€14,208 | -44.7% |
| Recurring financial charges | 65 | €31,804 | €17,596 | -€14,208 | -44.7% |
| Profit (loss) for the period before taxes | 9903 | €68,305 | €5,401 | -€62,904 | -92.1% |
| Income taxes | 67/77 | €1,297 | €3,670 | +€2,373 | +183% |
| Profit (loss) for the period | 9904 | €67,008 | €1,731 | -€65,277 | -97.4% |
| Profit (loss) for the period to be appropriated | 9905 | €67,008 | €1,731 | -€65,277 | -97.4% |
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 14 October 2026 via checked.be.