Bouton Claude: 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.
Bouton Claude
Largest movements
- Tangible fixed assets -€27,767
down €27,767 (-6.7%), from €416,096 to €388,328
of which Land and buildings: -€15,185
- Receivables within one year -€26,560
down €26,560 (-96.1%), from €27,632 to €1,072
of which Trade receivables: -€22,755
- Stocks and contracts -€8,405
down €8,405 (-35.0%), from €24,000 to €15,595
of which Contracts in progress: -€6,455
- Debts after one year -€45,777
down €45,777 (-25.2%), from €181,787 to €136,010
- Advances received -€18,950
no longer reported in 2025 (was €18,950)
- Trade debts +€18,312
up €18,312 (+43.8%), from €41,829 to €60,140
- Other debts -€11,331
down €11,331 (-14.8%), from €76,730 to €65,399
- Reserves +€5,040
up €5,040 (+8.8%), from €57,316 to €62,356
of which Distributable reserves: +€5,040
- Gross operating margin +€15,886
up €15,886 (+16.5%), from €96,024 to €111,911
- Depreciation +€14,619
up €14,619 (+111%), from €13,149 to €27,767
- Staff costs +€4,666
up €4,666 (+7.8%), from €59,987 to €64,653
- Financial charges -€4,040
down €4,040 (-27.2%), from €14,874 to €10,834
of which Financial charges: -€3,159
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €468,206 | €405,872 | -€62,333 | -13.3% |
| Fixed assets | 21/28 | €416,096 | €388,328 | -€27,767 | -6.7% |
| Tangible fixed assets | 22/27 | €416,096 | €388,328 | -€27,767 | -6.7% |
| Land and buildings | 22 | €382,810 | €367,626 | -€15,185 | -4.0% |
| Plant, machinery and equipment | 23 | €1,074 | €593 | -€481 | -44.8% |
| Furniture and vehicles | 24 | €1,250 | €664 | -€586 | -46.9% |
| Leasing and similar rights | 25 | €30,962 | €19,446 | -€11,516 | -37.2% |
| Current assets | 29/58 | €52,110 | €17,544 | -€34,566 | -66.3% |
| Stocks and contracts in progress | 3 | €24,000 | €15,595 | -€8,405 | -35.0% |
| Stocks | 30/36 | €8,000 | €6,050 | -€1,950 | -24.4% |
| Contracts in progress | 37 | €16,000 | €9,545 | -€6,455 | -40.3% |
| Amounts receivable within one year | 40/41 | €27,632 | €1,072 | -€26,560 | -96.1% |
| Trade receivables | 40 | €22,755 | - | -€22,755 | |
| Other amounts receivable | 41 | €4,877 | €1,072 | -€3,805 | -78.0% |
| Deferred charges and accrued income | 490/1 | €478 | €877 | +€399 | +83.4% |
| Total equity and liabilities | 10/49 | €468,206 | €405,872 | -€62,333 | -13.3% |
| Equity | 10/15 | €75,908 | €80,948 | +€5,040 | +6.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €57,316 | €62,356 | +€5,040 | +8.8% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €55,457 | €60,497 | +€5,040 | +9.1% |
| Amounts payable | 17/49 | €392,298 | €324,925 | -€67,373 | -17.2% |
| Amounts payable after more than one year | 17 | €181,787 | €136,010 | -€45,777 | -25.2% |
| Financial debts | 170/4 | €181,787 | €136,010 | -€45,777 | -25.2% |
| Amounts payable within one year | 42/48 | €204,653 | €187,265 | -€17,388 | -8.5% |
| Current portion of amounts payable after more than one year | 42 | €44,195 | €45,777 | +€1,582 | +3.6% |
| Financial debts | 43 | €9,423 | €6,327 | -€3,097 | -32.9% |
| Credit institutions | 430/8 | €9,423 | €6,327 | -€3,097 | -32.9% |
| Trade debts | 44 | €41,829 | €60,140 | +€18,312 | +43.8% |
| Suppliers | 440/4 | €41,829 | €60,140 | +€18,312 | +43.8% |
| Advances received on contracts in progress | 46 | €18,950 | - | -€18,950 | |
| Taxes, remuneration and social security | 45 | €13,526 | €9,622 | -€3,904 | -28.9% |
| Taxes | 450/3 | €11,930 | €7,977 | -€3,954 | -33.1% |
| Remuneration and social security | 454/9 | €1,596 | €1,645 | +€50 | +3.1% |
| Other amounts payable | 47/48 | €76,730 | €65,399 | -€11,331 | -14.8% |
| Accrued charges and deferred income | 492/3 | €5,858 | €1,650 | -€4,208 | -71.8% |
| Remuneration, social security and pensions | 62 | €59,987 | €64,653 | +€4,666 | +7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,149 | €27,767 | +€14,619 | +111% |
| Other operating charges | 640/8 | €2,884 | €3,149 | +€265 | +9.2% |
| Gross operating margin | 9900 | €96,024 | €111,911 | +€15,886 | +16.5% |
| Operating profit (loss) | 9901 | €20,005 | €16,341 | -€3,664 | -18.3% |
| Financial income | 75/76B | €6 | - | -€6 | |
| Recurring financial income | 75 | €6 | - | -€6 | |
| Financial charges | 65/66B | €14,874 | €10,834 | -€4,040 | -27.2% |
| Recurring financial charges | 65 | €13,993 | €10,834 | -€3,159 | -22.6% |
| Non-recurring financial charges | 66B | €881 | - | -€881 | |
| Profit (loss) for the period before taxes | 9903 | €5,137 | €5,507 | +€370 | +7.2% |
| Income taxes | 67/77 | €140 | €467 | +€328 | +235% |
| Profit (loss) for the period | 9904 | €4,998 | €5,040 | +€42 | +0.8% |
| Profit (loss) for the period to be appropriated | 9905 | €4,998 | €5,040 | +€42 | +0.8% |
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 30 October 2026 via checked.be.