BWM - CONSTRUCTIE: 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.
BWM - CONSTRUCTIE
Largest movements
- Receivables within one year +€50,319
up €50,319 (+30.6%), from €164,623 to €214,942
of which Trade receivables: +€40,992
- Tangible fixed assets -€49,845
down €49,845 (-8.4%), from €592,673 to €542,829
of which Furniture and vehicles: -€43,115
- Receivables after one year -€26,186
down €26,186 (-58.2%), from €45,000 to €18,815
- Cash -€25,190
down €25,190 (-87.0%), from €28,959 to €3,769
mainly Investment in fixed assets (net) (-€56,123) and Receivables within one year (-€50,319)
- Deferred charges and accrued income +€10,372
up €10,372 (+143.9%), from €7,210 to €17,582
- Debts after one year -€41,146
down €41,146 (-31.9%), from €129,177 to €88,031
- Reserves -€20,279
down €20,279 (-3.7%), from €544,197 to €523,918
of which Distributable reserves: -€14,548
- Trade debts +€17,937
up €17,937 (+76.9%), from €23,317 to €41,254
- Current portion of long-term debt -€14,733
down €14,733 (-26.4%), from €55,879 to €41,146
- Short-term financial debts +€12,876
new in 2025: €12,876
- Gross operating margin -€47,909
down €47,909 (-18.3%), from €262,142 to €214,233
- Staff costs +€40,800
up €40,800 (+158.2%), from €25,795 to €66,596
- Taxes -€30,548
down €30,548 (-67.5%), from €45,252 to €14,704
- Depreciation +€15,967
up €15,967 (+17.7%), from €90,001 to €105,968
- Other operating charges -€2,635
down €2,635 (-16.2%), from €16,253 to €13,618
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 | €852,466 | €819,936 | -€32,529 | -3.8% |
| Fixed assets | 21/28 | €592,673 | €542,829 | -€49,845 | -8.4% |
| Tangible fixed assets | 22/27 | €592,673 | €542,829 | -€49,845 | -8.4% |
| Land and buildings | 22 | €310,338 | €298,904 | -€11,434 | -3.7% |
| Plant, machinery and equipment | 23 | €86,504 | €91,209 | +€4,705 | +5.4% |
| Furniture and vehicles | 24 | €188,199 | €145,084 | -€43,115 | -22.9% |
| Other tangible fixed assets | 26 | €7,632 | €7,632 | = | 0.0% |
| Current assets | 29/58 | €259,792 | €277,108 | +€17,316 | +6.7% |
| Amounts receivable after more than one year | 29 | €45,000 | €18,815 | -€26,186 | -58.2% |
| Other amounts receivable | 291 | €45,000 | €18,815 | -€26,186 | -58.2% |
| Stocks and contracts in progress | 3 | €14,000 | €22,000 | +€8,000 | +57.1% |
| Stocks | 30/36 | €5,000 | €7,500 | +€2,500 | +50.0% |
| Contracts in progress | 37 | €9,000 | €14,500 | +€5,500 | +61.1% |
| Amounts receivable within one year | 40/41 | €164,623 | €214,942 | +€50,319 | +30.6% |
| Trade receivables | 40 | €148,230 | €189,222 | +€40,992 | +27.7% |
| Other amounts receivable | 41 | €16,393 | €25,720 | +€9,327 | +56.9% |
| Cash at bank and in hand | 54/58 | €28,959 | €3,769 | -€25,190 | -87.0% |
| Deferred charges and accrued income | 490/1 | €7,210 | €17,582 | +€10,372 | +143.9% |
| Total equity and liabilities | 10/49 | €852,466 | €819,936 | -€32,529 | -3.8% |
| Equity | 10/15 | €594,197 | €573,918 | -€20,279 | -3.4% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €544,197 | €523,918 | -€20,279 | -3.7% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €59,805 | €54,074 | -€5,731 | -9.6% |
| Distributable reserves | 133 | €479,391 | €464,843 | -€14,548 | -3.0% |
| Provisions and deferred taxes | 16 | €14,951 | €13,519 | -€1,433 | -9.6% |
| Deferred taxes | 168 | €14,951 | €13,519 | -€1,433 | -9.6% |
| Amounts payable | 17/49 | €243,317 | €232,500 | -€10,817 | -4.4% |
| Amounts payable after more than one year | 17 | €129,177 | €88,031 | -€41,146 | -31.9% |
| Financial debts | 170/4 | €129,177 | €88,031 | -€41,146 | -31.9% |
| Amounts payable within one year | 42/48 | €102,467 | €128,461 | +€25,995 | +25.4% |
| Current portion of amounts payable after more than one year | 42 | €55,879 | €41,146 | -€14,733 | -26.4% |
| Financial debts | 43 | - | €12,876 | +€12,876 | |
| Credit institutions | 430/8 | - | €12,876 | +€12,876 | |
| Trade debts | 44 | €23,317 | €41,254 | +€17,937 | +76.9% |
| Suppliers | 440/4 | €23,317 | €41,254 | +€17,937 | +76.9% |
| Taxes, remuneration and social security | 45 | €23,191 | €33,153 | +€9,963 | +43.0% |
| Taxes | 450/3 | €16,331 | €23,810 | +€7,479 | +45.8% |
| Remuneration and social security | 454/9 | €6,860 | €9,343 | +€2,483 | +36.2% |
| Other amounts payable | 47/48 | €80 | €32 | -€48 | -59.5% |
| Accrued charges and deferred income | 492/3 | €11,674 | €16,007 | +€4,334 | +37.1% |
| Remuneration, social security and pensions | 62 | €25,795 | €66,596 | +€40,800 | +158.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,001 | €105,968 | +€15,967 | +17.7% |
| Other operating charges | 640/8 | €16,253 | €13,618 | -€2,635 | -16.2% |
| Gross operating margin | 9900 | €262,142 | €214,233 | -€47,909 | -18.3% |
| Operating profit (loss) | 9901 | €130,093 | €28,052 | -€102,041 | -78.4% |
| Financial income | 75/76B | €3,200 | €1,332 | -€1,868 | -58.4% |
| Recurring financial income | 75 | €3,200 | €1,332 | -€1,868 | -58.4% |
| Financial charges | 65/66B | €4,595 | €5,699 | +€1,104 | +24.0% |
| Recurring financial charges | 65 | €4,595 | €5,699 | +€1,104 | +24.0% |
| Profit (loss) for the period before taxes | 9903 | €128,698 | €23,685 | -€105,013 | -81.6% |
| Transfer from deferred taxes | 780 | €1,433 | €1,433 | = | 0.0% |
| Income taxes | 67/77 | €45,252 | €14,704 | -€30,548 | -67.5% |
| Profit (loss) for the period | 9904 | €84,879 | €10,413 | -€74,465 | -87.7% |
| Transfer from tax-exempt reserves | 789 | €5,731 | €5,731 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €90,610 | €16,144 | -€74,465 | -82.2% |
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 9 October 2026 via checked.be.