BOUW STUDIE MAES: 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.
BOUW STUDIE MAES
Largest movements
- Cash -€41,086
down €41,086 (-70.8%), from €58,049 to €16,963
mainly Receivables within one year (-€33,597) and Trade debts (-€3,655)
- Receivables within one year +€33,597
up €33,597 (+8.9%), from €377,685 to €411,283
of which Other amounts receivable: +€33,597
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€9,196
up €9,196, from -€8,989 to €207
- Financial income +€842
new in 2025: €842
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 | €443,808 | €438,224 | -€5,585 | -1.3% |
| Fixed assets | 21/28 | €7,130 | €7,130 | = | 0.0% |
| Tangible fixed assets | 22/27 | €7,080 | €7,080 | = | 0.0% |
| Land and buildings | 22 | €7,080 | €7,080 | = | 0.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €436,678 | €431,094 | -€5,585 | -1.3% |
| Amounts receivable within one year | 40/41 | €377,685 | €411,283 | +€33,597 | +8.9% |
| Trade receivables | 40 | €30,250 | €30,250 | = | 0.0% |
| Other amounts receivable | 41 | €347,435 | €381,033 | +€33,597 | +9.7% |
| Current investments | 50/53 | €7 | €7 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €58,049 | €16,963 | -€41,086 | -70.8% |
| Deferred charges and accrued income | 490/1 | €937 | €2,841 | +€1,904 | +203% |
| Total equity and liabilities | 10/49 | €443,808 | €438,224 | -€5,585 | -1.3% |
| Equity | 10/15 | €436,461 | €434,706 | -€1,755 | -0.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €417,869 | €416,114 | -€1,755 | -0.4% |
| 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 | €416,009 | €414,255 | -€1,755 | -0.4% |
| Amounts payable | 17/49 | €7,348 | €3,518 | -€3,830 | -52.1% |
| Amounts payable within one year | 42/48 | €5,848 | €2,018 | -€3,830 | -65.5% |
| Trade debts | 44 | €5,122 | €1,466 | -€3,655 | -71.4% |
| Suppliers | 440/4 | €5,122 | €1,466 | -€3,655 | -71.4% |
| Taxes, remuneration and social security | 45 | €726 | €552 | -€175 | -24.1% |
| Taxes | 450/3 | €726 | €552 | -€175 | -24.1% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €2,366 | €2,377 | +€11 | +0.5% |
| Gross operating margin | 9900 | -€8,989 | €207 | +€9,196 | |
| Operating profit (loss) | 9901 | -€11,355 | -€2,170 | +€9,185 | +80.9% |
| Financial income | 75/76B | - | €842 | +€842 | |
| Recurring financial income | 75 | - | €842 | +€842 | |
| Financial charges | 65/66B | €144 | €107 | -€37 | -25.6% |
| Recurring financial charges | 65 | €144 | €107 | -€37 | -25.6% |
| Profit (loss) for the period before taxes | 9903 | -€11,500 | -€1,435 | +€10,064 | +87.5% |
| Income taxes | 67/77 | €306 | €319 | +€13 | +4.2% |
| Profit (loss) for the period | 9904 | -€11,806 | -€1,755 | +€10,051 | +85.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,806 | -€1,755 | +€10,051 | +85.1% |
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 1 November 2026 via checked.be.