BOUTTON ERWIN: 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.
BOUTTON ERWIN
Largest movements
- Current investments +€846,694
up €846,694 (+54.7%), from €1.5m to €2.4m
- Cash -€321,867
down €321,867 (-19.5%), from €1.6m to €1.3m
mainly Current investments (-€846,694) and Other debts (-€185,837)
- Reserves +€593,948
up €593,948 (+15.9%), from €3.7m to €4.3m
- Other debts -€185,837
down €185,837 (-41.7%), from €445,541 to €259,704
- Tax, wage and social debts +€55,094
up €55,094 (+117.1%), from €47,057 to €102,151
of which Taxes: +€57,139
- Gross operating margin +€332,185
up €332,185 (+27.2%), from €1.2m to €1.6m
- Taxes +€102,242
up €102,242 (+61.2%), from €167,150 to €269,392
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 | €4,252,959 | €4,758,780 | +€505,821 | +11.9% |
| Fixed assets | 21/28 | €338,864 | €299,228 | -€39,636 | -11.7% |
| Tangible fixed assets | 22/27 | €338,614 | €298,978 | -€39,636 | -11.7% |
| Land and buildings | 22 | €219,286 | €156,353 | -€62,933 | -28.7% |
| Plant, machinery and equipment | 23 | €14,628 | €13,212 | -€1,416 | -9.7% |
| Furniture and vehicles | 24 | €104,700 | €129,413 | +€24,713 | +23.6% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €3,914,095 | €4,459,552 | +€545,457 | +13.9% |
| Stocks and contracts in progress | 3 | €103,703 | €105,963 | +€2,260 | +2.2% |
| Stocks | 30/36 | €103,703 | €105,963 | +€2,260 | +2.2% |
| Amounts receivable within one year | 40/41 | €604,402 | €612,259 | +€7,857 | +1.3% |
| Trade receivables | 40 | €585,740 | €607,978 | +€22,238 | +3.8% |
| Other amounts receivable | 41 | €18,662 | €4,281 | -€14,381 | -77.1% |
| Current investments | 50/53 | €1,548,682 | €2,395,376 | +€846,694 | +54.7% |
| Cash at bank and in hand | 54/58 | €1,648,589 | €1,326,722 | -€321,867 | -19.5% |
| Deferred charges and accrued income | 490/1 | €8,719 | €19,232 | +€10,513 | +120.6% |
| Total equity and liabilities | 10/49 | €4,252,959 | €4,758,780 | +€505,821 | +11.9% |
| Equity | 10/15 | €3,758,340 | €4,352,288 | +€593,948 | +15.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €3,739,740 | €4,333,688 | +€593,948 | +15.9% |
| Distributable reserves | 133 | €3,739,740 | €4,333,688 | +€593,948 | +15.9% |
| Amounts payable | 17/49 | €494,619 | €406,492 | -€88,127 | -17.8% |
| Amounts payable within one year | 42/48 | €494,619 | €406,492 | -€88,127 | -17.8% |
| Trade debts | 44 | €2,021 | €44,637 | +€42,616 | +2108.7% |
| Suppliers | 440/4 | €2,021 | €44,637 | +€42,616 | +2108.7% |
| Taxes, remuneration and social security | 45 | €47,057 | €102,151 | +€55,094 | +117.1% |
| Taxes | 450/3 | €32,770 | €89,909 | +€57,139 | +174.4% |
| Remuneration and social security | 454/9 | €14,287 | €12,242 | -€2,045 | -14.3% |
| Other amounts payable | 47/48 | €445,541 | €259,704 | -€185,837 | -41.7% |
| Remuneration, social security and pensions | 62 | €597,593 | €593,000 | -€4,593 | -0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101,086 | €110,076 | +€8,990 | +8.9% |
| Other operating charges | 640/8 | €13,896 | €15,729 | +€1,833 | +13.2% |
| Non-recurring operating charges | 66A | €357 | - | -€357 | |
| Gross operating margin | 9900 | €1,222,244 | €1,554,429 | +€332,185 | +27.2% |
| Operating profit (loss) | 9901 | €509,312 | €835,624 | +€326,312 | +64.1% |
| Financial income | 75/76B | €35,302 | €47,192 | +€11,890 | +33.7% |
| Recurring financial income | 75 | €35,302 | €47,192 | +€11,890 | +33.7% |
| Financial charges | 65/66B | €24,122 | €19,476 | -€4,646 | -19.3% |
| Recurring financial charges | 65 | €24,122 | €19,476 | -€4,646 | -19.3% |
| Profit (loss) for the period before taxes | 9903 | €520,492 | €863,340 | +€342,848 | +65.9% |
| Income taxes | 67/77 | €167,150 | €269,392 | +€102,242 | +61.2% |
| Profit (loss) for the period | 9904 | €353,342 | €593,948 | +€240,606 | +68.1% |
| Profit (loss) for the period to be appropriated | 9905 | €353,342 | €593,948 | +€240,606 | +68.1% |
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 8 October 2026 via checked.be.