BOUWELEK: 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.
BOUWELEK
Largest movements
- Receivables after one year +€430,000
new in 2025: €430,000
- Stocks and contracts -€138,659
down €138,659 (-17.4%), from €796,130 to €657,471
- Receivables within one year +€55,304
up €55,304 (+4.4%), from €1.3m to €1.3m
of which Other amounts receivable: +€266,103
- Tangible fixed assets -€48,893
down €48,893 (-23.7%), from €206,011 to €157,118
of which Furniture and vehicles: -€35,195
- Cash +€33,225
up €33,225 (+14.6%), from €227,815 to €261,040
mainly Trade debts (+€256,751) and Stocks and contracts (+€138,659)
- Trade debts +€256,751
up €256,751 (+49.5%), from €518,383 to €775,134
- Short-term financial debts +€101,320
up €101,320 (+39.4%), from €257,121 to €358,441
- Reserves +€87,739
up €87,739 (+8.2%), from €1.1m to €1.2m
of which Distributable reserves: +€87,739
- Other debts -€75,000
no longer reported in 2025 (was €75,000)
- Debts after one year -€31,601
down €31,601 (-47.4%), from €66,735 to €35,134
- Turnover -€884,984
down €884,984 (-10.9%), from €8.1m to €7.2m
- Purchases and services -€511,805
down €511,805 (-7.5%), from €6.8m to €6.3m
- Gross operating margin -€373,179
down €373,179 (-29.0%), from €1.3m to €913,552
- Taxes -€82,453
down €82,453 (-67.7%), from €121,734 to €39,281
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 | €2,485,863 | €2,816,840 | +€330,977 | +13.3% |
| Fixed assets | 21/28 | €206,011 | €157,118 | -€48,893 | -23.7% |
| Tangible fixed assets | 22/27 | €206,011 | €157,118 | -€48,893 | -23.7% |
| Plant, machinery and equipment | 23 | €8,748 | €6,889 | -€1,859 | -21.3% |
| Furniture and vehicles | 24 | €118,086 | €82,891 | -€35,195 | -29.8% |
| Other tangible fixed assets | 26 | €79,177 | €67,338 | -€11,839 | -15.0% |
| Current assets | 29/58 | €2,279,852 | €2,659,722 | +€379,870 | +16.7% |
| Amounts receivable after more than one year | 29 | - | €430,000 | +€430,000 | |
| Other amounts receivable | 291 | - | €430,000 | +€430,000 | |
| Stocks and contracts in progress | 3 | €796,130 | €657,471 | -€138,659 | -17.4% |
| Stocks | 30/36 | €796,130 | €657,471 | -€138,659 | -17.4% |
| Amounts receivable within one year | 40/41 | €1,255,907 | €1,311,211 | +€55,304 | +4.4% |
| Trade receivables | 40 | €1,242,010 | €1,031,211 | -€210,799 | -17.0% |
| Other amounts receivable | 41 | €13,897 | €280,000 | +€266,103 | +1914.8% |
| Cash at bank and in hand | 54/58 | €227,815 | €261,040 | +€33,225 | +14.6% |
| Total equity and liabilities | 10/49 | €2,485,863 | €2,816,840 | +€330,977 | +13.3% |
| Equity | 10/15 | €1,318,037 | €1,405,776 | +€87,739 | +6.7% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €1,068,037 | €1,155,776 | +€87,739 | +8.2% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Legal reserve | 130 | €25,000 | €25,000 | = | 0.0% |
| Distributable reserves | 133 | €1,043,037 | €1,130,776 | +€87,739 | +8.4% |
| Amounts payable | 17/49 | €1,167,826 | €1,411,064 | +€243,238 | +20.8% |
| Amounts payable after more than one year | 17 | €66,735 | €35,134 | -€31,601 | -47.4% |
| Financial debts | 170/4 | €66,735 | €35,134 | -€31,601 | -47.4% |
| Amounts payable within one year | 42/48 | €1,101,091 | €1,375,930 | +€274,839 | +25.0% |
| Current portion of amounts payable after more than one year | 42 | €66,180 | €67,402 | +€1,222 | +1.8% |
| Financial debts | 43 | €257,121 | €358,441 | +€101,320 | +39.4% |
| Credit institutions | 430/8 | €257,121 | €358,441 | +€101,320 | +39.4% |
| Trade debts | 44 | €518,383 | €775,134 | +€256,751 | +49.5% |
| Suppliers | 440/4 | €518,383 | €775,134 | +€256,751 | +49.5% |
| Taxes, remuneration and social security | 45 | €184,407 | €174,953 | -€9,454 | -5.1% |
| Taxes | 450/3 | €81,698 | €74,555 | -€7,143 | -8.7% |
| Remuneration and social security | 454/9 | €102,709 | €100,398 | -€2,311 | -2.3% |
| Other amounts payable | 47/48 | €75,000 | - | -€75,000 | |
| Turnover | 70 | €8,096,218 | €7,211,234 | -€884,984 | -10.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €6,809,487 | €6,297,682 | -€511,805 | -7.5% |
| Remuneration, social security and pensions | 62 | €728,972 | €707,634 | -€21,338 | -2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,803 | €50,506 | -€6,297 | -11.1% |
| Other operating charges | 640/8 | €19,524 | €9,931 | -€9,593 | -49.1% |
| Gross operating margin | 9900 | €1,286,731 | €913,552 | -€373,179 | -29.0% |
| Operating profit (loss) | 9901 | €481,432 | €145,481 | -€335,951 | -69.8% |
| Financial income | 75/76B | €40 | €251 | +€211 | +527.5% |
| Recurring financial income | 75 | €40 | €251 | +€211 | +527.5% |
| Financial charges | 65/66B | €14,576 | €18,712 | +€4,136 | +28.4% |
| Recurring financial charges | 65 | €14,576 | €18,712 | +€4,136 | +28.4% |
| Profit (loss) for the period before taxes | 9903 | €466,896 | €127,020 | -€339,876 | -72.8% |
| Income taxes | 67/77 | €121,734 | €39,281 | -€82,453 | -67.7% |
| Profit (loss) for the period | 9904 | €345,162 | €87,739 | -€257,423 | -74.6% |
| Profit (loss) for the period to be appropriated | 9905 | €345,162 | €87,739 | -€257,423 | -74.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.