BOUG-ART MANAGEMENT: 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.
BOUG-ART MANAGEMENT
Largest movements
- Receivables within one year +€17,210
up €17,210 (+85.6%), from €20,112 to €37,322
of which Trade receivables: +€17,184
- Financial fixed assets +€8,000
new in 2025: €8,000
- Cash +€6,942
up €6,942 (+33.9%), from €20,502 to €27,444
mainly Net result for the year (+€15,703) and Tax, wage and social debts (+€7,172)
- Reserves +€15,703
up €15,703 (+55.1%), from €28,512 to €44,215
- Tax, wage and social debts +€7,172
up €7,172 (+83.1%), from €8,626 to €15,799
of which Taxes: +€7,530
- Debts after one year +€4,551
new in 2025: €4,551
- Current portion of long-term debt +€3,300
new in 2025: €3,300
- Trade debts +€1,233
up €1,233 (+209%), from €589 to €1,821
- Gross operating margin +€4,334
up €4,334 (+19.0%), from €22,832 to €27,166
- Taxes +€1,660
up €1,660 (+27.6%), from €6,009 to €7,668
- Other operating charges -€799
down €799 (-37.8%), from €2,113 to €1,313
- Financial charges +€595
up €595 (+31.5%), from €1,886 to €2,481
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 | €40,615 | €72,778 | +€32,163 | +79.2% |
| Fixed assets | 21/28 | - | €8,000 | +€8,000 | |
| Financial fixed assets | 28 | - | €8,000 | +€8,000 | |
| Current assets | 29/58 | €40,615 | €64,778 | +€24,163 | +59.5% |
| Amounts receivable within one year | 40/41 | €20,112 | €37,322 | +€17,210 | +85.6% |
| Trade receivables | 40 | €18,525 | €35,709 | +€17,184 | +92.8% |
| Other amounts receivable | 41 | €1,588 | €1,613 | +€25 | +1.6% |
| Cash at bank and in hand | 54/58 | €20,502 | €27,444 | +€6,942 | +33.9% |
| Deferred charges and accrued income | 490/1 | - | €12 | +€12 | |
| Total equity and liabilities | 10/49 | €40,615 | €72,778 | +€32,163 | +79.2% |
| Equity | 10/15 | €31,312 | €47,015 | +€15,703 | +50.1% |
| Contributions | 10/11 | €2,800 | €2,800 | = | 0.0% |
| Reserves | 13 | €28,512 | €44,215 | +€15,703 | +55.1% |
| Distributable reserves | 133 | €28,512 | €44,215 | +€15,703 | +55.1% |
| Amounts payable | 17/49 | €9,303 | €25,763 | +€16,461 | +177% |
| Amounts payable after more than one year | 17 | - | €4,551 | +€4,551 | |
| Financial debts | 170/4 | - | €4,551 | +€4,551 | |
| Amounts payable within one year | 42/48 | €9,303 | €21,212 | +€11,909 | +128% |
| Current portion of amounts payable after more than one year | 42 | - | €3,300 | +€3,300 | |
| Trade debts | 44 | €589 | €1,821 | +€1,233 | +209% |
| Suppliers | 440/4 | €589 | €1,821 | +€1,233 | +209% |
| Taxes, remuneration and social security | 45 | €8,626 | €15,799 | +€7,172 | +83.1% |
| Taxes | 450/3 | €8,269 | €15,799 | +€7,530 | +91.1% |
| Remuneration and social security | 454/9 | €358 | €0 | -€358 | -100% |
| Other amounts payable | 47/48 | €87 | €291 | +€204 | +234% |
| Other operating charges | 640/8 | €2,113 | €1,313 | -€799 | -37.8% |
| Gross operating margin | 9900 | €22,832 | €27,166 | +€4,334 | +19.0% |
| Operating profit (loss) | 9901 | €20,719 | €25,852 | +€5,133 | +24.8% |
| Financial income | 75/76B | €6 | €0 | -€6 | -100% |
| Recurring financial income | 75 | €6 | €0 | -€6 | -100% |
| Financial charges | 65/66B | €1,886 | €2,481 | +€595 | +31.5% |
| Recurring financial charges | 65 | €1,886 | €2,481 | +€595 | +31.5% |
| Profit (loss) for the period before taxes | 9903 | €18,839 | €23,371 | +€4,532 | +24.1% |
| Income taxes | 67/77 | €6,009 | €7,668 | +€1,660 | +27.6% |
| Profit (loss) for the period | 9904 | €12,830 | €15,703 | +€2,873 | +22.4% |
| Profit (loss) for the period to be appropriated | 9905 | €12,830 | €15,703 | +€2,873 | +22.4% |
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 29 October 2026 via checked.be.