BOWOOD: 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.
BOWOOD
Largest movements
- Receivables within one year -€246,284
down €246,284 (-35.3%), from €697,408 to €451,123
- Tangible fixed assets -€101,654
down €101,654 (-4.2%), from €2.4m to €2.3m
of which Leasing and similar rights: -€94,921
- Cash +€83,444
up €83,444 (+115.1%), from €72,485 to €155,929
mainly Net result for the year (+€290,015) and Receivables within one year (+€246,284)
- Other debts -€182,359
down €182,359 (-96.6%), from €188,736 to €6,377
- Reserves -€151,985
down €151,985 (-26.1%), from €582,685 to €430,700
- Tax, wage and social debts +€136,914
up €136,914 (+580.7%), from €23,576 to €160,490
- Debts after one year -€70,518
down €70,518 (-3.1%), from €2.3m to €2.2m
- Depreciation -€236,193
down €236,193 (-69.9%), from €337,848 to €101,654
- Financial charges +€58,447
up €58,447 (+8534.1%), from €685 to €59,132
- Taxes +€44,786
up €44,786 (+85.8%), from €52,176 to €96,962
- Gross operating margin +€20,324
up €20,324 (+4.0%), from €506,738 to €527,063
- Financial income -€8,499
down €8,499 (-27.0%), from €31,489 to €22,991
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,195,867 | €2,928,465 | -€267,402 | -8.4% |
| Fixed assets | 21/28 | €2,411,155 | €2,309,501 | -€101,654 | -4.2% |
| Tangible fixed assets | 22/27 | €2,408,655 | €2,307,001 | -€101,654 | -4.2% |
| Furniture and vehicles | 24 | €37,445 | €30,712 | -€6,733 | -18.0% |
| Leasing and similar rights | 25 | €2,371,210 | €2,276,289 | -€94,921 | -4.0% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €784,712 | €618,965 | -€165,748 | -21.1% |
| Amounts receivable within one year | 40/41 | €697,408 | €451,123 | -€246,284 | -35.3% |
| Other amounts receivable | 41 | €697,408 | €451,123 | -€246,284 | -35.3% |
| Cash at bank and in hand | 54/58 | €72,485 | €155,929 | +€83,444 | +115.1% |
| Deferred charges and accrued income | 490/1 | €14,820 | €11,913 | -€2,907 | -19.6% |
| Total equity and liabilities | 10/49 | €3,195,867 | €2,928,465 | -€267,402 | -8.4% |
| Equity | 10/15 | €601,285 | €449,300 | -€151,985 | -25.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €582,685 | €430,700 | -€151,985 | -26.1% |
| Distributable reserves | 133 | €582,685 | €430,700 | -€151,985 | -26.1% |
| Amounts payable | 17/49 | €2,594,582 | €2,479,166 | -€115,416 | -4.4% |
| Amounts payable after more than one year | 17 | €2,281,202 | €2,210,683 | -€70,518 | -3.1% |
| Financial debts | 170/4 | €2,281,202 | €2,210,683 | -€70,518 | -3.1% |
| Amounts payable within one year | 42/48 | €286,646 | €242,732 | -€43,914 | -15.3% |
| Current portion of amounts payable after more than one year | 42 | €68,798 | €70,518 | +€1,720 | +2.5% |
| Trade debts | 44 | €5,536 | €5,347 | -€189 | -3.4% |
| Suppliers | 440/4 | €5,536 | €5,347 | -€189 | -3.4% |
| Taxes, remuneration and social security | 45 | €23,576 | €160,490 | +€136,914 | +580.7% |
| Taxes | 450/3 | €23,576 | €160,490 | +€136,914 | +580.7% |
| Other amounts payable | 47/48 | €188,736 | €6,377 | -€182,359 | -96.6% |
| Accrued charges and deferred income | 492/3 | €26,734 | €25,750 | -€984 | -3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €337,848 | €101,654 | -€236,193 | -69.9% |
| Other operating charges | 640/8 | €1,611 | €2,291 | +€680 | +42.2% |
| Gross operating margin | 9900 | €506,738 | €527,063 | +€20,324 | +4.0% |
| Operating profit (loss) | 9901 | €167,280 | €423,118 | +€255,838 | +152.9% |
| Financial income | 75/76B | €31,489 | €22,991 | -€8,499 | -27.0% |
| Recurring financial income | 75 | €31,489 | €22,991 | -€8,499 | -27.0% |
| Financial charges | 65/66B | €685 | €59,132 | +€58,447 | +8534.1% |
| Recurring financial charges | 65 | €685 | €59,132 | +€58,447 | +8534.1% |
| Profit (loss) for the period before taxes | 9903 | €198,084 | €386,977 | +€188,892 | +95.4% |
| Income taxes | 67/77 | €52,176 | €96,962 | +€44,786 | +85.8% |
| Profit (loss) for the period | 9904 | €145,908 | €290,015 | +€144,106 | +98.8% |
| Profit (loss) for the period to be appropriated | 9905 | €145,908 | €290,015 | +€144,106 | +98.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.