Bouwfonds: 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.
Bouwfonds
Largest movements
- Current investments -€28.8m
down €28.8m (-72.6%), from €39.6m to €10.9m
- Cash -€4.4m
down €4.4m (-71.6%), from €6.1m to €1.7m
mainly Debts within one year (-€35.9m) and Debts after one year (-€1.1m)
- Tangible fixed assets -€1.2m
down €1.2m (-3.1%), from €40.0m to €38.8m
of which Land and buildings: -€640,536
- Receivables within one year -€1.1m
down €1.1m (-39.9%), from €2.8m to €1.7m
of which Other amounts receivable: -€912,141
- Receivables after one year -€1.0m
down €1.0m (-28.4%), from €3.5m to €2.5m
of which Trade receivables: -€1.0m
- Debts within one year -€35.9m
down €35.9m (-95.3%), from €37.7m to €1.8m
- Debts after one year -€1.1m
down €1.1m (-3.7%), from €29.4m to €28.3m
of which Financial debts: -€1.1m
- Turnover -€3.4m
no longer reported in 2025 (was €3.4m)
- Purchases and services -€2.2m
no longer reported in 2025 (was €2.2m)
- Financial charges +€539,519
up €539,519, from -€233,705 to €305,814
- Financial income +€425,094
up €425,094 (+201%), from €211,953 to €637,047
of which Financial income: +€425,094
- Gross operating margin +€319,955
up €319,955 (+19.8%), from €1.6m to €1.9m
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 | €96,939,707 | €60,431,243 | -€36.5m | -37.7% |
| Fixed assets | 21/28 | €44,818,334 | €43,606,452 | -€1.2m | -2.7% |
| Intangible fixed assets | 21 | - | €16,486 | +€16,486 | |
| Tangible fixed assets | 22/27 | €40,013,650 | €38,785,146 | -€1.2m | -3.1% |
| Land and buildings | 22 | €37,189,995 | €36,549,459 | -€640,536 | -1.7% |
| Plant, machinery and equipment | 23 | €2,005,743 | €1,492,027 | -€513,716 | -25.6% |
| Furniture and vehicles | 24 | €786,993 | €687,321 | -€99,672 | -12.7% |
| Other tangible fixed assets | 26 | €30,919 | €56,339 | +€25,420 | +82.2% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €4,804,685 | €4,804,819 | +€135 | 0.0% |
| Current assets | 29/58 | €52,121,372 | €16,824,792 | -€35.3m | -67.7% |
| Amounts receivable after more than one year | 29 | €3,536,602 | €2,533,316 | -€1.0m | -28.4% |
| Trade receivables | 290 | €3,021,992 | €2,001,126 | -€1.0m | -33.8% |
| Other amounts receivable | 291 | €514,610 | €532,191 | +€17,581 | +3.4% |
| Amounts receivable within one year | 40/41 | €2,809,935 | €1,688,404 | -€1.1m | -39.9% |
| Trade receivables | 40 | €808,570 | €599,180 | -€209,390 | -25.9% |
| Other amounts receivable | 41 | €2,001,366 | €1,089,225 | -€912,141 | -45.6% |
| Current investments | 50/53 | €39,644,625 | €10,861,816 | -€28.8m | -72.6% |
| Cash at bank and in hand | 54/58 | €6,098,548 | €1,733,013 | -€4.4m | -71.6% |
| Deferred charges and accrued income | 490/1 | €31,662 | €8,242 | -€23,420 | -74.0% |
| Total equity and liabilities | 10/49 | €96,939,707 | €60,431,243 | -€36.5m | -37.7% |
| Equity | 10/15 | €29,902,439 | €30,364,647 | +€462,209 | +1.5% |
| Contributions | 10/11 | €33,767,763 | €33,767,763 | = | 0.0% |
| Capital | 10 | €33,767,763 | €33,767,763 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,865,324 | -€3,403,116 | +€462,209 | +12.0% |
| Amounts payable | 17/49 | €67,037,268 | €30,066,596 | -€37.0m | -55.1% |
| Amounts payable after more than one year | 17 | €29,359,163 | €28,279,253 | -€1.1m | -3.7% |
| Financial debts | 170/4 | €29,358,583 | €28,278,673 | -€1.1m | -3.7% |
| Other amounts payable | 178/9 | €580 | €580 | = | 0.0% |
| Amounts payable within one year | 42/48 | €37,675,846 | €1,779,733 | -€35.9m | -95.3% |
| Current portion of amounts payable after more than one year | 42 | €1,069,773 | €1,079,911 | +€10,138 | +0.9% |
| Trade debts | 44 | €1,378,281 | €561,910 | -€816,371 | -59.2% |
| Suppliers | 440/4 | €1,378,281 | €561,910 | -€816,371 | -59.2% |
| Taxes, remuneration and social security | 45 | €207,784 | €137,912 | -€69,872 | -33.6% |
| Taxes | 450/3 | €207,784 | €137,912 | -€69,872 | -33.6% |
| Accrued charges and deferred income | 492/3 | €2,258 | €7,611 | +€5,353 | +237% |
| Turnover | 70 | €3,447,408 | - | -€3.4m | |
| Non-recurring operating income | 76A | €341,125 | €0 | -€341,125 | -100% |
| Goods, raw materials, services and sundry goods | 60/61 | €2,176,644 | - | -€2.2m | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,516,289 | €1,434,611 | -€81,678 | -5.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €24,259 | -€21,871 | -€46,130 | |
| Other operating charges | 640/8 | €607,088 | €378,725 | -€228,364 | -37.6% |
| Non-recurring operating charges | 66A | €34,989 | €9,817 | -€25,172 | -71.9% |
| Gross operating margin | 9900 | €1,612,302 | €1,932,257 | +€319,955 | +19.8% |
| Operating profit (loss) | 9901 | -€570,322 | €130,976 | +€701,298 | |
| Financial income | 75/76B | €211,953 | €637,047 | +€425,094 | +201% |
| Recurring financial income | 75 | €211,953 | €637,047 | +€425,094 | +201% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | -€233,705 | €305,814 | +€539,519 | |
| Recurring financial charges | 65 | -€233,705 | €305,814 | +€539,519 | |
| Profit (loss) for the period before taxes | 9903 | -€124,664 | €462,209 | +€586,873 | |
| Profit (loss) for the period | 9904 | -€124,664 | €462,209 | +€586,873 | |
| Profit (loss) for the period to be appropriated | 9905 | -€124,664 | €462,209 | +€586,873 |
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 15 October 2026 via checked.be.