BOUWKAMPIOEN: what changed
BOUWKAMPIOEN
Largest movements
- Current investments +€599,998
up €599,998 (+107%), from €560,650 to €1.2m
- Receivables within one year -€369,280
down €369,280 (-65.4%), from €564,380 to €195,100
of which Other amounts receivable: -€358,632
- Cash -€297,612
down €297,612 (-44.7%), from €665,429 to €367,817
mainly Contributions, distributions and other (-€911,203) and Current investments (-€599,998)
- Tangible fixed assets -€58,944
down €58,944 (-16.8%), from €351,412 to €292,467
of which Land and buildings: -€232,192
- Reserves -€521,203
down €521,203 (-26.2%), from €2.0m to €1.5m
of which Distributable reserves: -€521,203
- Debts after one year +€351,127
new in 2025: €351,127
of which Other amounts payable: +€215,340
- Trade debts +€25,597
up €25,597 (+33.6%), from €76,278 to €101,876
- Gross operating margin +€206,515
up €206,515 (+27.2%), from €759,479 to €965,995
- Financial income -€92,973
down €92,973 (-87.9%), from €105,819 to €12,846
- Depreciation +€43,303
up €43,303 (+81.7%), from €52,981 to €96,283
- Staff costs +€41,637
up €41,637 (+13.7%), from €303,665 to €345,302
- Other operating charges +€18,955
up €18,955 (+520%), from €3,642 to €22,597
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,159,674 | €2,030,210 | -€129,464 | -6.0% |
| Fixed assets | 21/28 | €359,182 | €300,237 | -€58,944 | -16.4% |
| Tangible fixed assets | 22/27 | €351,412 | €292,467 | -€58,944 | -16.8% |
| Land and buildings | 22 | €232,192 | - | -€232,192 | |
| Plant, machinery and equipment | 23 | €80,136 | €214,778 | +€134,642 | +168% |
| Furniture and vehicles | 24 | €39,084 | €52,417 | +€13,333 | +34.1% |
| Other tangible fixed assets | 26 | - | €25,272 | +€25,272 | |
| Financial fixed assets | 28 | €7,770 | €7,770 | = | 0.0% |
| Current assets | 29/58 | €1,800,492 | €1,729,973 | -€70,520 | -3.9% |
| Amounts receivable within one year | 40/41 | €564,380 | €195,100 | -€369,280 | -65.4% |
| Trade receivables | 40 | €111,638 | €100,990 | -€10,647 | -9.5% |
| Other amounts receivable | 41 | €452,742 | €94,110 | -€358,632 | -79.2% |
| Current investments | 50/53 | €560,650 | €1,160,648 | +€599,998 | +107% |
| Cash at bank and in hand | 54/58 | €665,429 | €367,817 | -€297,612 | -44.7% |
| Deferred charges and accrued income | 490/1 | €10,033 | €6,408 | -€3,626 | -36.1% |
| Total equity and liabilities | 10/49 | €2,159,674 | €2,030,210 | -€129,464 | -6.0% |
| Equity | 10/15 | €2,019,762 | €1,495,984 | -€523,778 | -25.9% |
| Contributions | 10/11 | €23,250 | €23,250 | = | 0.0% |
| Reserves | 13 | €1,988,671 | €1,467,467 | -€521,203 | -26.2% |
| Tax-exempt reserves | 132 | €18,491 | €18,491 | = | 0.0% |
| Distributable reserves | 133 | €1,970,179 | €1,448,976 | -€521,203 | -26.5% |
| Profit (loss) carried forward | 14 | €7,841 | €5,267 | -€2,574 | -32.8% |
| Amounts payable | 17/49 | €139,912 | €534,226 | +€394,314 | +282% |
| Amounts payable after more than one year | 17 | - | €351,127 | +€351,127 | |
| Financial debts | 170/4 | - | €135,786 | +€135,786 | |
| Other amounts payable | 178/9 | - | €215,340 | +€215,340 | |
| Amounts payable within one year | 42/48 | €139,912 | €168,424 | +€28,512 | +20.4% |
| Trade debts | 44 | €76,278 | €101,876 | +€25,597 | +33.6% |
| Suppliers | 440/4 | €76,278 | €101,876 | +€25,597 | +33.6% |
| Taxes, remuneration and social security | 45 | €63,633 | €62,733 | -€901 | -1.4% |
| Taxes | 450/3 | €23,505 | €18,238 | -€5,267 | -22.4% |
| Remuneration and social security | 454/9 | €40,128 | €44,494 | +€4,366 | +10.9% |
| Other amounts payable | 47/48 | - | €3,815 | +€3,815 | |
| Accrued charges and deferred income | 492/3 | - | €14,675 | +€14,675 | |
| Remuneration, social security and pensions | 62 | €303,665 | €345,302 | +€41,637 | +13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,981 | €96,283 | +€43,303 | +81.7% |
| Other operating charges | 640/8 | €3,642 | €22,597 | +€18,955 | +520% |
| Gross operating margin | 9900 | €759,479 | €965,995 | +€206,515 | +27.2% |
| Operating profit (loss) | 9901 | €399,191 | €501,812 | +€102,621 | +25.7% |
| Financial income | 75/76B | €105,819 | €12,846 | -€92,973 | -87.9% |
| Recurring financial income | 75 | €105,819 | €12,846 | -€92,973 | -87.9% |
| Financial charges | 65/66B | €3,412 | €1,494 | -€1,918 | -56.2% |
| Recurring financial charges | 65 | €3,412 | €1,494 | -€1,918 | -56.2% |
| Profit (loss) for the period before taxes | 9903 | €501,598 | €513,164 | +€11,566 | +2.3% |
| Income taxes | 67/77 | €122,248 | €125,738 | +€3,490 | +2.9% |
| Profit (loss) for the period | 9904 | €379,350 | €387,426 | +€8,076 | +2.1% |
| Profit (loss) for the period to be appropriated | 9905 | €379,350 | €387,426 | +€8,076 | +2.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.