BOUTTENS: 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.
What changed
BOUTTENS
NACE 46.832, Wholesale of timber
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€8.2m
2024 · €7.1m+€1.0m
Equity
€34.5m
2024 · €31.3m+€3.2m
Cash
€5.3m
2024 · €2.5m+€2.9m
Balance sheet total
€41.3m
2024 · €38.0m+€3.3m
Largest movements
Assets
- Current investments +€5.0m
up €5.0m (+62.5%), from €8.0m to €13.0m
- Receivables within one year -€3.6m
down €3.6m (-32.6%), from €10.9m to €7.4m
of which Other amounts receivable: -€3.8m
- Cash +€2.9m
up €2.9m (+117%), from €2.5m to €5.3m
mainly Net result for the year (+€8.2m) and Receivables within one year (+€3.6m)
- Tangible fixed assets -€680,157
down €680,157 (-7.1%), from €9.6m to €8.9m
of which Land and buildings: -€602,430
Equity and liabilities
- Reserves +€3.2m
up €3.2m (+11.3%), from €28.2m to €31.4m
of which Distributable reserves: +€3.2m
Income statement
- Turnover +€1.3m
up €1.3m (+1.8%), from €74.3m to €75.6m
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.
Result 2024
€7.1m
Turnover
+€1.3m
Other operating income
-€84,177
Goods and materials
-€400,428
Services and other goods
+€371,344
Staff costs
+€78,118
Depreciation
-€22,333
Write-downs
+€2,802
Other operating charges
-€3,221
Other operating items
-€2,757
Financial income
+€60,832
Financial charges
-€624
Taxes
-€297,048
Result 2025
€8.2m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€12.9m
Investment
-€5.1m
Financing
-€5.0m
Cash 2024
€2.5m
From operations (derived)
+€12.9m
Net result for the year
+€8.2m
Depreciation
+€737,158
Stocks and contracts
+€360,416
Receivables within one year
+€3.6m
Deferred charges and accrued income
-€21,807
Trade debts
-€29,019
Tax, wage and social debts
+€33,749
Other debts
+€234,391
Accrued charges and deferred income
-€100,353
Investment (derived)
-€5.1m
Investment in fixed assets (net)
-€57,001
Current investments
-€5.0m
Financing
-€5.0m
Contributions, distributions and other
-€5.0m
Cash 2025
€5.3m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €38,017,980 | €41,330,859 | +€3.3m | +8.7% |
| Fixed assets | 21/28 | €11,687,545 | €11,007,388 | -€680,157 | -5.8% |
| Tangible fixed assets | 22/27 | €9,575,828 | €8,895,671 | -€680,157 | -7.1% |
| Land and buildings | 22 | €8,297,951 | €7,695,521 | -€602,430 | -7.3% |
| Plant, machinery and equipment | 23 | €1,203,035 | €1,144,516 | -€58,519 | -4.9% |
| Furniture and vehicles | 24 | €74,842 | €55,634 | -€19,209 | -25.7% |
| Financial fixed assets | 28 | €2,111,717 | €2,111,717 | = | 0.0% |
| Affiliated companies | 280/1 | €2,100,000 | €2,100,000 | = | 0.0% |
| Participating interests | 280 | €2,100,000 | €2,100,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €11,717 | €11,717 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €11,717 | €11,717 | = | 0.0% |
| Current assets | 29/58 | €26,330,436 | €30,323,472 | +€4.0m | +15.2% |
| Stocks and contracts in progress | 3 | €4,961,441 | €4,601,025 | -€360,416 | -7.3% |
| Stocks | 30/36 | €4,961,441 | €4,601,025 | -€360,416 | -7.3% |
| Goods purchased for resale | 34 | €4,961,441 | €4,601,025 | -€360,416 | -7.3% |
| Amounts receivable within one year | 40/41 | €10,908,472 | €7,351,031 | -€3.6m | -32.6% |
| Trade receivables | 40 | €6,818,107 | €7,049,610 | +€231,503 | +3.4% |
| Other amounts receivable | 41 | €4,090,365 | €301,421 | -€3.8m | -92.6% |
| Current investments | 50/53 | €8,000,000 | €13,000,000 | +€5.0m | +62.5% |
| Other investments | 51/53 | €8,000,000 | €13,000,000 | +€5.0m | +62.5% |
| Cash at bank and in hand | 54/58 | €2,460,523 | €5,349,608 | +€2.9m | +117% |
| Deferred charges and accrued income | 490/1 | - | €21,807 | +€21,807 | |
| Total equity and liabilities | 10/49 | €38,017,980 | €41,330,859 | +€3.3m | +8.7% |
| Equity | 10/15 | €31,277,116 | €34,451,228 | +€3.2m | +10.1% |
| Contributions | 10/11 | €3,063,121 | €3,063,121 | = | 0.0% |
| Capital | 10 | €3,063,121 | €3,063,121 | = | 0.0% |
| Issued capital | 100 | €3,063,121 | €3,063,121 | = | 0.0% |
| Reserves | 13 | €28,213,995 | €31,388,107 | +€3.2m | +11.3% |
| Non-distributable reserves | 130/1 | €323,356 | €323,356 | = | 0.0% |
| Legal reserve | 130 | €306,312 | €306,312 | = | 0.0% |
| Other | 1319 | €17,044 | €17,044 | = | 0.0% |
| Tax-exempt reserves | 132 | €201,456 | €201,456 | = | 0.0% |
| Distributable reserves | 133 | €27,689,183 | €30,863,294 | +€3.2m | +11.5% |
| Amounts payable | 17/49 | €6,740,864 | €6,879,632 | +€138,767 | +2.1% |
| Amounts payable within one year | 42/48 | €6,640,511 | €6,879,632 | +€239,121 | +3.6% |
| Trade debts | 44 | €923,494 | €894,475 | -€29,019 | -3.1% |
| Suppliers | 440/4 | €923,494 | €894,475 | -€29,019 | -3.1% |
| Taxes, remuneration and social security | 45 | €951,408 | €985,157 | +€33,749 | +3.5% |
| Taxes | 450/3 | €673,465 | €732,005 | +€58,540 | +8.7% |
| Remuneration and social security | 454/9 | €277,944 | €253,152 | -€24,791 | -8.9% |
| Other amounts payable | 47/48 | €4,765,609 | €5,000,000 | +€234,391 | +4.9% |
| Accrued charges and deferred income | 492/3 | €100,353 | - | -€100,353 | |
| Operating income | 70/76A | €75,796,761 | €77,041,709 | +€1.2m | +1.6% |
| Turnover | 70 | €74,254,096 | €75,583,221 | +€1.3m | +1.8% |
| Other operating income | 74 | €1,542,665 | €1,458,488 | -€84,177 | -5.5% |
| Operating charges | 60/66A | €67,729,669 | €67,706,144 | -€23,525 | 0.0% |
| Goods for resale, raw materials and consumables | 60 | €54,652,894 | €55,053,322 | +€400,428 | +0.7% |
| Purchases | 600/8 | €55,742,024 | €54,692,906 | -€1.0m | -1.9% |
| Change in stocks: decrease (increase) | 609 | -€1,089,130 | €360,416 | +€1.4m | |
| Services and other goods | 61 | €9,851,881 | €9,480,537 | -€371,344 | -3.8% |
| Remuneration, social security and pensions | 62 | €2,400,437 | €2,322,319 | -€78,118 | -3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €714,825 | €737,158 | +€22,333 | +3.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,499 | -€1,303 | -€2,802 | |
| Other operating charges | 640/8 | €108,132 | €111,353 | +€3,221 | +3.0% |
| Non-recurring operating charges | 66A | - | €2,757 | +€2,757 | |
| Operating profit (loss) | 9901 | €8,067,093 | €9,335,565 | +€1.3m | +15.7% |
| Financial income | 75/76B | €1,579,899 | €1,640,731 | +€60,832 | +3.9% |
| Recurring financial income | 75 | €1,579,899 | €1,640,731 | +€60,832 | +3.9% |
| Income from current assets | 751 | €189,598 | €289,435 | +€99,837 | +52.7% |
| Other financial income | 752/9 | €1,390,301 | €1,351,296 | -€39,005 | -2.8% |
| Financial charges | 65/66B | €3,349 | €3,973 | +€624 | +18.6% |
| Recurring financial charges | 65 | €3,349 | €3,973 | +€624 | +18.6% |
| Other financial charges | 652/9 | €3,349 | €3,973 | +€624 | +18.6% |
| Profit (loss) for the period before taxes | 9903 | €9,643,643 | €10,972,323 | +€1.3m | +13.8% |
| Income taxes | 67/77 | €2,501,153 | €2,798,200 | +€297,048 | +11.9% |
| Taxes | 670/3 | €2,506,879 | €2,798,200 | +€291,321 | +11.6% |
| Tax adjustments and reversals of tax provisions | 77 | €5,727 | - | -€5,727 | |
| Profit (loss) for the period | 9904 | €7,142,490 | €8,174,122 | +€1.0m | +14.4% |
| Profit (loss) for the period to be appropriated | 9905 | €7,142,490 | €8,174,122 | +€1.0m | +14.4% |
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 16 October 2026 via checked.be.