BOWLINE MANAGEMENT: 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.
BOWLINE MANAGEMENT
Largest movements
- Tangible fixed assets +€13,896
up €13,896 (+204%), from €6,826 to €20,722
of which Furniture and vehicles: +€13,820
- Cash +€12,470
up €12,470 (+49.3%), from €25,268 to €37,738
mainly Net result for the year (+€19,764) and Depreciation (+€4,830)
- Financial fixed assets -€2,092
no longer reported in 2025 (was €2,092)
- Profit (loss) carried forward +€19,764
up €19,764, from -€2,048 to €17,716
- Short-term financial debts +€4,419
new in 2025: €4,419
- Tax, wage and social debts +€3,392
up €3,392 (+46.1%), from €7,351 to €10,743
- Other debts -€2,502
down €2,502 (-16.0%), from €15,680 to €13,178
- Gross operating margin +€25,205
up €25,205 (+239%), from €10,544 to €35,749
- Financial charges -€9,825
down €9,825 (-96.5%), from €10,185 to €361
of which Non-recurring financial charges: -€10,000
- Taxes +€6,257
up €6,257 (+417%), from €1,500 to €7,757
- Other operating charges +€2,822
up €2,822 (+1,312%), from €215 to €3,037
- Depreciation +€2,585
up €2,585 (+115%), from €2,246 to €4,830
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 | €38,140 | €62,699 | +€24,560 | +64.4% |
| Fixed assets | 21/28 | €8,918 | €20,722 | +€11,804 | +132% |
| Tangible fixed assets | 22/27 | €6,826 | €20,722 | +€13,896 | +204% |
| Plant, machinery and equipment | 23 | €1,870 | €1,946 | +€76 | +4.1% |
| Furniture and vehicles | 24 | €4,956 | €18,776 | +€13,820 | +279% |
| Financial fixed assets | 28 | €2,092 | - | -€2,092 | |
| Current assets | 29/58 | €29,221 | €41,977 | +€12,756 | +43.7% |
| Amounts receivable within one year | 40/41 | €3,939 | €4,239 | +€300 | +7.6% |
| Other amounts receivable | 41 | €3,939 | €4,239 | +€300 | +7.6% |
| Cash at bank and in hand | 54/58 | €25,268 | €37,738 | +€12,470 | +49.3% |
| Deferred charges and accrued income | 490/1 | €14 | - | -€14 | |
| Total equity and liabilities | 10/49 | €38,140 | €62,699 | +€24,560 | +64.4% |
| Equity | 10/15 | €13,905 | €33,669 | +€19,764 | +142% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €3,553 | €3,553 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,850 | €1,850 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,850 | €1,850 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,703 | €1,703 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,048 | €17,716 | +€19,764 | |
| Amounts payable | 17/49 | €24,235 | €29,030 | +€4,795 | +19.8% |
| Amounts payable within one year | 42/48 | €24,235 | €29,030 | +€4,795 | +19.8% |
| Financial debts | 43 | - | €4,419 | +€4,419 | |
| Credit institutions | 430/8 | - | €4,419 | +€4,419 | |
| Trade debts | 44 | €1,204 | €690 | -€514 | -42.7% |
| Suppliers | 440/4 | €1,204 | €690 | -€514 | -42.7% |
| Taxes, remuneration and social security | 45 | €7,351 | €10,743 | +€3,392 | +46.1% |
| Taxes | 450/3 | €7,351 | €10,743 | +€3,392 | +46.1% |
| Other amounts payable | 47/48 | €15,680 | €13,178 | -€2,502 | -16.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,246 | €4,830 | +€2,585 | +115% |
| Other operating charges | 640/8 | €215 | €3,037 | +€2,822 | +1,312% |
| Gross operating margin | 9900 | €10,544 | €35,749 | +€25,205 | +239% |
| Operating profit (loss) | 9901 | €8,083 | €27,882 | +€19,799 | +245% |
| Financial charges | 65/66B | €10,185 | €361 | -€9,825 | -96.5% |
| Recurring financial charges | 65 | €185 | €361 | +€175 | +94.6% |
| Non-recurring financial charges | 66B | €10,000 | - | -€10,000 | |
| Profit (loss) for the period before taxes | 9903 | -€2,102 | €27,521 | +€29,623 | |
| Income taxes | 67/77 | €1,500 | €7,757 | +€6,257 | +417% |
| Profit (loss) for the period | 9904 | -€3,602 | €19,764 | +€23,367 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,602 | €19,764 | +€23,367 |
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.