Bowlines: 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.
Bowlines
Largest movements
- Current investments +€200,000
new in 2025: €200,000
- Receivables within one year -€114,107
down €114,107 (-99.7%), from €114,425 to €317
- Cash -€11,956
down €11,956 (-4.8%), from €249,634 to €237,679
mainly Current investments (-€200,000) and Trade debts (-€771)
- Reserves +€56,155
up €56,155 (+15.9%), from €352,316 to €408,471
of which Distributable reserves: +€58,010
- Tax, wage and social debts +€9,123
up €9,123 (+109%), from €8,391 to €17,514
- Write-downs -€40,000
down €40,000, from €35,000 to -€5,000
- Gross operating margin +€17,847
up €17,847 (+30.6%), from €58,394 to €76,240
- Taxes +€8,341
up €8,341 (+59.9%), from €13,919 to €22,260
- Financial income -€2,624
down €2,624 (-71.1%), from €3,692 to €1,067
- Other operating charges -€1,159
down €1,159 (-59.8%), from €1,938 to €779
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 | €380,581 | €445,088 | +€64,507 | +16.9% |
| Fixed assets | 21/28 | €3,764 | €1,019 | -€2,745 | -72.9% |
| Tangible fixed assets | 22/27 | €3,275 | €530 | -€2,745 | -83.8% |
| Furniture and vehicles | 24 | €2,279 | €489 | -€1,790 | -78.5% |
| Other tangible fixed assets | 26 | €997 | €41 | -€955 | -95.9% |
| Financial fixed assets | 28 | €489 | €489 | = | 0.0% |
| Current assets | 29/58 | €376,817 | €444,069 | +€67,252 | +17.8% |
| Amounts receivable after more than one year | 29 | €8,150 | €4,927 | -€3,223 | -39.6% |
| Other amounts receivable | 291 | €8,150 | €4,927 | -€3,223 | -39.6% |
| Amounts receivable within one year | 40/41 | €114,425 | €317 | -€114,107 | -99.7% |
| Other amounts receivable | 41 | €114,425 | €317 | -€114,107 | -99.7% |
| Current investments | 50/53 | - | €200,000 | +€200,000 | |
| Cash at bank and in hand | 54/58 | €249,634 | €237,679 | -€11,956 | -4.8% |
| Deferred charges and accrued income | 490/1 | €4,608 | €1,147 | -€3,462 | -75.1% |
| Total equity and liabilities | 10/49 | €380,581 | €445,088 | +€64,507 | +16.9% |
| Equity | 10/15 | €370,866 | €427,021 | +€56,155 | +15.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €352,316 | €408,471 | +€56,155 | +15.9% |
| Non-distributable reserves | 130/1 | €1,855 | - | -€1,855 | |
| Reserves not available under the articles | 1311 | €1,855 | - | -€1,855 | |
| Distributable reserves | 133 | €350,461 | €408,471 | +€58,010 | +16.6% |
| Amounts payable | 17/49 | €9,715 | €18,067 | +€8,352 | +86.0% |
| Amounts payable within one year | 42/48 | €9,715 | €18,067 | +€8,352 | +86.0% |
| Trade debts | 44 | €1,325 | €553 | -€771 | -58.2% |
| Suppliers | 440/4 | €1,325 | €553 | -€771 | -58.2% |
| Taxes, remuneration and social security | 45 | €8,391 | €17,514 | +€9,123 | +109% |
| Taxes | 450/3 | €8,391 | €17,514 | +€9,123 | +109% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,274 | €2,745 | -€529 | -16.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €35,000 | -€5,000 | -€40,000 | |
| Other operating charges | 640/8 | €1,938 | €779 | -€1,159 | -59.8% |
| Gross operating margin | 9900 | €58,394 | €76,240 | +€17,847 | +30.6% |
| Operating profit (loss) | 9901 | €18,182 | €77,716 | +€59,534 | +327% |
| Financial income | 75/76B | €3,692 | €1,067 | -€2,624 | -71.1% |
| Recurring financial income | 75 | €3,692 | €1,067 | -€2,624 | -71.1% |
| Financial charges | 65/66B | €382 | €368 | -€14 | -3.5% |
| Recurring financial charges | 65 | €382 | €368 | -€14 | -3.5% |
| Profit (loss) for the period before taxes | 9903 | €21,492 | €78,415 | +€56,923 | +265% |
| Income taxes | 67/77 | €13,919 | €22,260 | +€8,341 | +59.9% |
| Profit (loss) for the period | 9904 | €7,573 | €56,155 | +€48,582 | +641% |
| Profit (loss) for the period to be appropriated | 9905 | €7,573 | €56,155 | +€48,582 | +641% |
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 28 October 2026 via checked.be.