BOUWVAST: 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.
BOUWVAST
Largest movements
- Receivables within one year +€203,297
up €203,297 (+231%), from €88,017 to €291,314
of which Trade receivables: +€181,482
- Cash -€151,088
down €151,088 (-66.2%), from €228,375 to €77,288
mainly Receivables within one year (-€203,297) and Contributions, distributions and other (-€89,228)
- Tangible fixed assets -€9,539
down €9,539 (-8.3%), from €115,104 to €105,565
- Other debts +€51,621
up €51,621 (+27.2%), from €189,534 to €241,155
- Trade debts +€30,331
up €30,331 (+134%), from €22,596 to €52,926
- Debts after one year -€20,593
no longer reported in 2025 (was €20,593)
- Tax, wage and social debts -€19,305
down €19,305 (-54.2%), from €35,639 to €16,334
- Current portion of long-term debt +€4,786
up €4,786 (+30.3%), from €15,808 to €20,593
- Gross operating margin -€56,643
down €56,643 (-22.4%), from €253,040 to €196,398
- Taxes -€14,997
down €14,997 (-39.3%), from €38,182 to €23,185
- Staff costs +€3,135
up €3,135 (+5.1%), from €61,897 to €65,033
- Depreciation -€2,668
down €2,668 (-21.9%), from €12,207 to €9,539
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 | €434,721 | €476,941 | +€42,221 | +9.7% |
| Fixed assets | 21/28 | €115,104 | €105,565 | -€9,539 | -8.3% |
| Tangible fixed assets | 22/27 | €115,104 | €105,565 | -€9,539 | -8.3% |
| Land and buildings | 22 | €104,013 | €99,769 | -€4,243 | -4.1% |
| Plant, machinery and equipment | 23 | €5,073 | €2,850 | -€2,223 | -43.8% |
| Furniture and vehicles | 24 | €6,018 | €2,945 | -€3,073 | -51.1% |
| Current assets | 29/58 | €319,617 | €371,377 | +€51,760 | +16.2% |
| Stocks and contracts in progress | 3 | €3,225 | €2,775 | -€450 | -14.0% |
| Stocks | 30/36 | €3,225 | €2,775 | -€450 | -14.0% |
| Amounts receivable within one year | 40/41 | €88,017 | €291,314 | +€203,297 | +231% |
| Trade receivables | 40 | €46,466 | €227,948 | +€181,482 | +391% |
| Other amounts receivable | 41 | €41,551 | €63,366 | +€21,815 | +52.5% |
| Cash at bank and in hand | 54/58 | €228,375 | €77,288 | -€151,088 | -66.2% |
| Total equity and liabilities | 10/49 | €434,721 | €476,941 | +€42,221 | +9.7% |
| Equity | 10/15 | €150,551 | €145,933 | -€4,618 | -3.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €144,351 | €139,733 | -€4,618 | -3.2% |
| Distributable reserves | 133 | €144,351 | €139,733 | -€4,618 | -3.2% |
| Amounts payable | 17/49 | €284,170 | €331,009 | +€46,839 | +16.5% |
| Amounts payable after more than one year | 17 | €20,593 | - | -€20,593 | |
| Financial debts | 170/4 | €20,593 | - | -€20,593 | |
| Amounts payable within one year | 42/48 | €263,576 | €331,009 | +€67,432 | +25.6% |
| Current portion of amounts payable after more than one year | 42 | €15,808 | €20,593 | +€4,786 | +30.3% |
| Trade debts | 44 | €22,596 | €52,926 | +€30,331 | +134% |
| Suppliers | 440/4 | €22,596 | €52,926 | +€30,331 | +134% |
| Taxes, remuneration and social security | 45 | €35,639 | €16,334 | -€19,305 | -54.2% |
| Taxes | 450/3 | €35,639 | €16,334 | -€19,305 | -54.2% |
| Other amounts payable | 47/48 | €189,534 | €241,155 | +€51,621 | +27.2% |
| Remuneration, social security and pensions | 62 | €61,897 | €65,033 | +€3,135 | +5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,207 | €9,539 | -€2,668 | -21.9% |
| Other operating charges | 640/8 | €2,826 | €4,522 | +€1,696 | +60.0% |
| Gross operating margin | 9900 | €253,040 | €196,398 | -€56,643 | -22.4% |
| Operating profit (loss) | 9901 | €176,110 | €117,304 | -€58,806 | -33.4% |
| Financial income | 75/76B | - | €63 | +€63 | |
| Recurring financial income | 75 | - | €63 | +€63 | |
| Financial charges | 65/66B | €7,268 | €9,572 | +€2,303 | +31.7% |
| Recurring financial charges | 65 | €7,268 | €9,572 | +€2,303 | +31.7% |
| Profit (loss) for the period before taxes | 9903 | €168,841 | €107,795 | -€61,046 | -36.2% |
| Income taxes | 67/77 | €38,182 | €23,185 | -€14,997 | -39.3% |
| Profit (loss) for the period | 9904 | €130,659 | €84,610 | -€46,049 | -35.2% |
| Profit (loss) for the period to be appropriated | 9905 | €130,659 | €84,610 | -€46,049 | -35.2% |
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 23 October 2026 via checked.be.