BOUWTECO: 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.
BOUWTECO
Largest movements
- Tangible fixed assets +€502,629
up €502,629 (+192%), from €261,681 to €764,310
of which Assets under construction and advance payments: +€274,672
- Cash -€89,217
down €89,217 (-55.6%), from €160,382 to €71,165
mainly Investment in fixed assets (net) (-€550,398) and Net result for the year (-€22,014)
- Receivables within one year -€13,959
down €13,959 (-96.4%), from €14,481 to €522
of which Trade receivables: -€14,334
- Debts after one year +€420,201
up €420,201 (+142%), from €296,269 to €716,470
- Profit (loss) carried forward -€22,014
new in 2025: -€22,014
- Other debts +€11,889
up €11,889 (+192%), from €6,178 to €18,066
- Current portion of long-term debt +€10,895
up €10,895 (+89.4%), from €12,194 to €23,089
- Tax, wage and social debts -€8,916
down €8,916 (-21.5%), from €41,510 to €32,594
- Gross operating margin -€84,269
down €84,269 (-64.8%), from €130,084 to €45,815
- Depreciation +€22,984
up €22,984 (+92.7%), from €24,785 to €47,768
- Taxes -€17,762
down €17,762 (-99.2%), from €17,903 to €141
- Financial charges +€8,830
up €8,830 (+95.9%), from €9,212 to €18,042
- Other operating charges -€6,271
down €6,271 (-54.4%), from €11,528 to €5,257
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 | €442,191 | €846,812 | +€404,621 | +91.5% |
| Fixed assets | 21/28 | €261,681 | €764,310 | +€502,629 | +192% |
| Tangible fixed assets | 22/27 | €261,681 | €764,310 | +€502,629 | +192% |
| Land and buildings | 22 | €240,991 | €476,666 | +€235,675 | +97.8% |
| Furniture and vehicles | 24 | - | €5,919 | +€5,919 | |
| Leasing and similar rights | 25 | €18,869 | €5,726 | -€13,144 | -69.7% |
| Other tangible fixed assets | 26 | €1,820 | €1,327 | -€493 | -27.1% |
| Assets under construction and advance payments | 27 | - | €274,672 | +€274,672 | |
| Current assets | 29/58 | €180,511 | €82,502 | -€98,009 | -54.3% |
| Amounts receivable within one year | 40/41 | €14,481 | €522 | -€13,959 | -96.4% |
| Trade receivables | 40 | €14,464 | €130 | -€14,334 | -99.1% |
| Other amounts receivable | 41 | €16 | €392 | +€376 | +2,288% |
| Cash at bank and in hand | 54/58 | €160,382 | €71,165 | -€89,217 | -55.6% |
| Deferred charges and accrued income | 490/1 | €5,647 | €10,815 | +€5,167 | +91.5% |
| Total equity and liabilities | 10/49 | €442,191 | €846,812 | +€404,621 | +91.5% |
| Equity | 10/15 | €71,865 | €49,851 | -€22,014 | -30.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €66,865 | €66,865 | = | 0.0% |
| Distributable reserves | 133 | €66,865 | €66,865 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€22,014 | -€22,014 | |
| Amounts payable | 17/49 | €370,326 | €796,961 | +€426,635 | +115% |
| Amounts payable after more than one year | 17 | €296,269 | €716,470 | +€420,201 | +142% |
| Financial debts | 170/4 | €296,269 | €716,470 | +€420,201 | +142% |
| Amounts payable within one year | 42/48 | €72,869 | €80,348 | +€7,479 | +10.3% |
| Current portion of amounts payable after more than one year | 42 | €12,194 | €23,089 | +€10,895 | +89.4% |
| Trade debts | 44 | €12,988 | €6,598 | -€6,389 | -49.2% |
| Suppliers | 440/4 | €12,988 | €6,598 | -€6,389 | -49.2% |
| Taxes, remuneration and social security | 45 | €41,510 | €32,594 | -€8,916 | -21.5% |
| Taxes | 450/3 | €41,510 | €32,594 | -€8,916 | -21.5% |
| Other amounts payable | 47/48 | €6,178 | €18,066 | +€11,889 | +192% |
| Accrued charges and deferred income | 492/3 | €1,188 | €143 | -€1,044 | -87.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,785 | €47,768 | +€22,984 | +92.7% |
| Other operating charges | 640/8 | €11,528 | €5,257 | -€6,271 | -54.4% |
| Gross operating margin | 9900 | €130,084 | €45,815 | -€84,269 | -64.8% |
| Operating profit (loss) | 9901 | €93,771 | -€7,211 | -€100,982 | |
| Financial income | 75/76B | €209 | €3,379 | +€3,170 | +1,516% |
| Recurring financial income | 75 | €209 | €3,379 | +€3,170 | +1,516% |
| Financial charges | 65/66B | €9,212 | €18,042 | +€8,830 | +95.9% |
| Recurring financial charges | 65 | €9,212 | €18,042 | +€8,830 | +95.9% |
| Profit (loss) for the period before taxes | 9903 | €84,769 | -€21,873 | -€106,642 | |
| Income taxes | 67/77 | €17,903 | €141 | -€17,762 | -99.2% |
| Profit (loss) for the period | 9904 | €66,865 | -€22,014 | -€88,880 | |
| Profit (loss) for the period to be appropriated | 9905 | €66,865 | -€22,014 | -€88,880 |
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 20 October 2026 via checked.be.