BOWHOUS: what changed
Two fiscal 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.
What changed
BOWHOUS
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€32,289
2024 · €53,782-€21,493
Equity
€1.6m
2024 · €1.6m+€32,289
Cash
€12,818
2024 · €23,313-€10,495
Balance sheet total
€3.3m
2024 · €3.3m-€24,247
Largest movements
Assets
- Tangible fixed assets -€57,604
down €57,604 (-2.2%), from €2.7m to €2.6m
of which Land and buildings: -€56,478
Equity and liabilities
- Debts after one year -€136,715
down €136,715 (-15.8%), from €862,970 to €726,254
of which Financial debts: -€136,715
- Other debts +€99,932
up €99,932 (+16.3%), from €614,752 to €714,684
Income statement
- Gross operating margin -€16,435
down €16,435 (-6.4%), from €256,544 to €240,109
- Financial charges +€12,396
up €12,396 (+45.2%), from €27,398 to €39,794
- Depreciation -€7,573
down €7,573 (-5.5%), from €137,810 to €130,237
- Taxes -€5,733
down €5,733 (-31.8%), from €18,010 to €12,277
- Other operating charges +€5,542
up €5,542 (+24.5%), from €22,643 to €28,184
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.
Result 2024
€53,782
Gross operating margin
-€16,435
Depreciation
+€7,573
Other operating charges
-€5,542
Financial income
-€425
Financial charges
-€12,396
Taxes
+€5,733
Result 2025
€32,289
Cash bridge derived
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.
From operations
+€192,609
Investment
-€72,786
Financing
-€130,318
Cash 2024
€23,313
From operations (derived)
+€192,609
Net result for the year
+€32,289
Depreciation
+€130,237
Receivables within one year
-€19,340
Deferred charges and accrued income
-€24,359
Trade debts
-€20,937
Tax, wage and social debts
-€4,746
Other debts
+€99,932
Accrued charges and deferred income
-€468
Investment (derived)
-€72,786
Investment in fixed assets (net)
-€72,633
Current investments
-€153
Financing
-€130,318
Debts after one year
-€136,715
Current portion of long-term debt
+€6,398
Cash 2025
€12,818
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,302,400 | €3,278,153 | -€24,247 | -0.7% |
| Fixed assets | 21/28 | €3,180,146 | €3,122,542 | -€57,604 | -1.8% |
| Tangible fixed assets | 22/27 | €2,677,113 | €2,619,509 | -€57,604 | -2.2% |
| Land and buildings | 22 | €2,670,064 | €2,613,587 | -€56,478 | -2.1% |
| Furniture and vehicles | 24 | €3,427 | €2,409 | -€1,018 | -29.7% |
| Other tangible fixed assets | 26 | €3,623 | €3,514 | -€109 | -3.0% |
| Financial fixed assets | 28 | €503,033 | €503,033 | = | 0.0% |
| Current assets | 29/58 | €122,254 | €155,611 | +€33,357 | +27.3% |
| Amounts receivable within one year | 40/41 | €61,232 | €80,572 | +€19,340 | +31.6% |
| Trade receivables | 40 | €6,240 | €0 | -€6,240 | -100.0% |
| Other amounts receivable | 41 | €54,993 | €80,572 | +€25,579 | +46.5% |
| Current investments | 50/53 | €29,192 | €29,345 | +€153 | +0.5% |
| Cash at bank and in hand | 54/58 | €23,313 | €12,818 | -€10,495 | -45.0% |
| Deferred charges and accrued income | 490/1 | €8,517 | €32,876 | +€24,359 | +286.0% |
| Total equity and liabilities | 10/49 | €3,302,400 | €3,278,153 | -€24,247 | -0.7% |
| Equity | 10/15 | €1,568,587 | €1,600,876 | +€32,289 | +2.1% |
| Contributions | 10/11 | €1,374,000 | €1,374,000 | = | 0.0% |
| Capital | 10 | €1,374,000 | €1,374,000 | = | 0.0% |
| Issued capital | 100 | €1,374,000 | €1,374,000 | = | 0.0% |
| Reserves | 13 | €22,697 | €22,697 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,661 | €11,661 | = | 0.0% |
| Legal reserve | 130 | €11,661 | €11,661 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,934 | €4,934 | = | 0.0% |
| Distributable reserves | 133 | €6,102 | €6,102 | = | 0.0% |
| Profit (loss) carried forward | 14 | €171,889 | €204,178 | +€32,289 | +18.8% |
| Amounts payable | 17/49 | €1,733,813 | €1,677,277 | -€56,536 | -3.3% |
| Amounts payable after more than one year | 17 | €862,970 | €726,254 | -€136,715 | -15.8% |
| Financial debts | 170/4 | €861,300 | €724,584 | -€136,715 | -15.9% |
| Other amounts payable | 178/9 | €1,670 | €1,670 | = | 0.0% |
| Amounts payable within one year | 42/48 | €845,933 | €926,580 | +€80,647 | +9.5% |
| Current portion of amounts payable after more than one year | 42 | €192,768 | €199,166 | +€6,398 | +3.3% |
| Trade debts | 44 | €28,619 | €7,682 | -€20,937 | -73.2% |
| Suppliers | 440/4 | €28,619 | €7,682 | -€20,937 | -73.2% |
| Taxes, remuneration and social security | 45 | €9,794 | €5,048 | -€4,746 | -48.5% |
| Taxes | 450/3 | €9,794 | €5,048 | -€4,746 | -48.5% |
| Other amounts payable | 47/48 | €614,752 | €714,684 | +€99,932 | +16.3% |
| Accrued charges and deferred income | 492/3 | €24,910 | €24,442 | -€468 | -1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €137,810 | €130,237 | -€7,573 | -5.5% |
| Other operating charges | 640/8 | €22,643 | €28,184 | +€5,542 | +24.5% |
| Gross operating margin | 9900 | €256,544 | €240,109 | -€16,435 | -6.4% |
| Operating profit (loss) | 9901 | €96,091 | €81,687 | -€14,404 | -15.0% |
| Financial income | 75/76B | €3,098 | €2,673 | -€425 | -13.7% |
| Recurring financial income | 75 | €3,098 | €2,673 | -€425 | -13.7% |
| Financial charges | 65/66B | €27,398 | €39,794 | +€12,396 | +45.2% |
| Recurring financial charges | 65 | €27,398 | €39,794 | +€12,396 | +45.2% |
| Profit (loss) for the period before taxes | 9903 | €71,792 | €44,566 | -€27,226 | -37.9% |
| Income taxes | 67/77 | €18,010 | €12,277 | -€5,733 | -31.8% |
| Profit (loss) for the period | 9904 | €53,782 | €32,289 | -€21,493 | -40.0% |
| Profit (loss) for the period to be appropriated | 9905 | €53,782 | €32,289 | -€21,493 | -40.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.