BOUWELHOF: 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.
BOUWELHOF
Largest movements
- Receivables within one year -€5.0m
down €5.0m (-99.7%), from €5.0m to €15,424
of which Other amounts receivable: -€5.0m
- Financial fixed assets -€2.7m
down €2.7m (-3.1%), from €86.5m to €83.8m
of which Affiliated companies: -€2.7m
- Cash -€1.3m
down €1.3m (-47.9%), from €2.8m to €1.5m
mainly Other debts (-€13.1m) and Contributions, distributions and other (-€2.0m)
- Other debts -€13.1m
down €13.1m (-74.2%), from €17.6m to €4.5m
- Profit (loss) carried forward +€6.4m
up €6.4m (+14.7%), from €43.5m to €50.0m
- Debts after one year -€1.5m
down €1.5m (-34.2%), from €4.4m to €2.9m
of which Financial debts: -€1.5m
- Financial income -€17.7m
down €17.7m (-57.4%), from €30.8m to €13.1m
- Financial charges +€3.2m
up €3.2m (+243%), from €1.3m to €4.5m
of which Non-recurring financial charges: +€3.4m
- Services and other goods +€45,618
up €45,618 (+23.6%), from €193,383 to €239,000
- Turnover +€34,255
up €34,255 (+30.4%), from €112,619 to €146,874
- Depreciation -€1,804
down €1,804 (-1.8%), from €102,490 to €100,686
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 | €96,668,365 | €87,547,543 | -€9.1m | -9.4% |
| Fixed assets | 21/28 | €88,893,259 | €86,080,019 | -€2.8m | -3.2% |
| Tangible fixed assets | 22/27 | €2,355,604 | €2,254,918 | -€100,686 | -4.3% |
| Land and buildings | 22 | €1,478,613 | €1,406,162 | -€72,451 | -4.9% |
| Plant, machinery and equipment | 23 | €89,789 | €65,291 | -€24,497 | -27.3% |
| Furniture and vehicles | 24 | €7,202 | €3,464 | -€3,738 | -51.9% |
| Other tangible fixed assets | 26 | €780,000 | €780,000 | = | 0.0% |
| Financial fixed assets | 28 | €86,537,655 | €83,825,101 | -€2.7m | -3.1% |
| Affiliated companies | 280/1 | €86,537,184 | €83,824,630 | -€2.7m | -3.1% |
| Participating interests | 280 | €83,245,821 | €79,718,267 | -€3.5m | -4.2% |
| Amounts receivable | 281 | €3,291,363 | €4,106,363 | +€815,000 | +24.8% |
| Other financial fixed assets | 284/8 | €471 | €471 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €471 | €471 | = | 0.0% |
| Current assets | 29/58 | €7,775,106 | €1,467,525 | -€6.3m | -81.1% |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €4,989,117 | €15,424 | -€5.0m | -99.7% |
| Trade receivables | 40 | - | €9,000 | +€9,000 | |
| Other amounts receivable | 41 | €4,989,117 | €6,424 | -€5.0m | -99.9% |
| Cash at bank and in hand | 54/58 | €2,785,989 | €1,452,101 | -€1.3m | -47.9% |
| Total equity and liabilities | 10/49 | €96,668,365 | €87,547,543 | -€9.1m | -9.4% |
| Equity | 10/15 | €72,170,010 | €78,591,659 | +€6.4m | +8.9% |
| Contributions | 10/11 | €16,835,070 | €16,835,070 | = | 0.0% |
| Capital | 10 | €16,835,070 | €16,835,070 | = | 0.0% |
| Issued capital | 100 | €16,835,070 | €16,835,070 | = | 0.0% |
| Reserves | 13 | €11,796,342 | €11,796,342 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,796,342 | €2,796,342 | = | 0.0% |
| Legal reserve | 130 | €2,796,342 | €2,796,342 | = | 0.0% |
| Distributable reserves | 133 | €9,000,000 | €9,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €43,538,598 | €49,960,248 | +€6.4m | +14.7% |
| Amounts payable | 17/49 | €24,498,355 | €8,955,884 | -€15.5m | -63.4% |
| Amounts payable after more than one year | 17 | €4,399,707 | €2,893,607 | -€1.5m | -34.2% |
| Financial debts | 170/4 | €4,393,758 | €2,887,658 | -€1.5m | -34.3% |
| Credit institutions | 173 | €4,081,258 | €2,887,658 | -€1.2m | -29.2% |
| Other loans | 174 | €312,500 | €0 | -€312,500 | -100% |
| Other amounts payable | 178/9 | €5,949 | €5,949 | = | 0.0% |
| Amounts payable within one year | 42/48 | €20,088,448 | €6,062,276 | -€14.0m | -69.8% |
| Current portion of amounts payable after more than one year | 42 | €2,422,562 | €1,506,100 | -€916,462 | -37.8% |
| Trade debts | 44 | €21,461 | €7,329 | -€14,132 | -65.9% |
| Suppliers | 440/4 | €21,461 | €7,329 | -€14,132 | -65.9% |
| Other amounts payable | 47/48 | €17,644,424 | €4,548,847 | -€13.1m | -74.2% |
| Accrued charges and deferred income | 492/3 | €10,200 | €0 | -€10,200 | -100% |
| Operating income | 70/76A | €112,619 | €151,244 | +€38,625 | +34.3% |
| Turnover | 70 | €112,619 | €146,874 | +€34,255 | +30.4% |
| Non-recurring operating income | 76A | - | €4,370 | +€4,370 | |
| Operating charges | 60/66A | €312,186 | €355,307 | +€43,121 | +13.8% |
| Services and other goods | 61 | €193,383 | €239,000 | +€45,618 | +23.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €102,490 | €100,686 | -€1,804 | -1.8% |
| Other operating charges | 640/8 | €16,314 | €15,621 | -€693 | -4.2% |
| Non-recurring operating charges | 66A | - | €0 | = | |
| Operating profit (loss) | 9901 | -€199,567 | -€204,063 | -€4,496 | -2.3% |
| Financial income | 75/76B | €30,826,758 | €13,145,590 | -€17.7m | -57.4% |
| Recurring financial income | 75 | €30,826,758 | €13,145,590 | -€17.7m | -57.4% |
| Income from financial fixed assets | 750 | €30,644,340 | €13,145,590 | -€17.5m | -57.1% |
| Income from current assets | 751 | €182,417 | €0 | -€182,417 | -100% |
| Financial charges | 65/66B | €1,319,603 | €4,519,877 | +€3.2m | +243% |
| Recurring financial charges | 65 | €919,603 | €734,827 | -€184,776 | -20.1% |
| Debt charges | 650 | €913,334 | €717,931 | -€195,403 | -21.4% |
| Other financial charges | 652/9 | €6,269 | €16,896 | +€10,627 | +170% |
| Non-recurring financial charges | 66B | €400,000 | €3,785,050 | +€3.4m | +846% |
| Profit (loss) for the period before taxes | 9903 | €29,307,587 | €8,421,650 | -€20.9m | -71.3% |
| Profit (loss) for the period | 9904 | €29,307,587 | €8,421,650 | -€20.9m | -71.3% |
| Profit (loss) for the period to be appropriated | 9905 | €29,307,587 | €8,421,650 | -€20.9m | -71.3% |
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 17 October 2026 via checked.be.