C.S.BOUW: 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.
C.S.BOUW
Largest movements
- Stocks and contracts +€29,451
new in 2025: €29,451
- Receivables within one year +€26,568
up €26,568 (+26.4%), from €100,573 to €127,140
of which Trade receivables: +€37,124
- Financial fixed assets +€5,263
up €5,263 (+3,899%), from €135 to €5,398
- Deferred charges and accrued income +€3,710
new in 2025: €3,710
- Tangible fixed assets +€2,860
up €2,860 (+10.9%), from €26,349 to €29,209
of which Plant, machinery and equipment: +€1,441
- Reserves +€105,285
up €105,285 (+96.2%), from €109,491 to €214,777
of which Distributable reserves: +€88,196
- Profit (loss) carried forward -€92,269
down €92,269, from €477 to -€91,793
- Trade debts +€30,413
up €30,413 (+3,001%), from €1,013 to €31,427
- Contributions +€18,600
up €18,600 (+100%), from €18,600 to €37,200
- Other debts +€6,110
up €6,110 (+373%), from €1,640 to €7,750
- Gross operating margin -€26,047
down €26,047, from €3,052 to -€22,995
- Financial charges +€5,182
up €5,182 (+4,413%), from €117 to €5,299
- Other operating charges +€2,040
up €2,040 (+335%), from €609 to €2,649
- Depreciation +€1,574
up €1,574 (+85.7%), from €1,836 to €3,410
- Taxes +€334
up €334 (+229%), from €146 to €480
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 | €137,171 | €205,416 | +€68,245 | +49.8% |
| Fixed assets | 21/28 | €26,484 | €34,607 | +€8,123 | +30.7% |
| Tangible fixed assets | 22/27 | €26,349 | €29,209 | +€2,860 | +10.9% |
| Land and buildings | 22 | €26,349 | €26,845 | +€496 | +1.9% |
| Plant, machinery and equipment | 23 | - | €1,441 | +€1,441 | |
| Furniture and vehicles | 24 | - | €923 | +€923 | |
| Financial fixed assets | 28 | €135 | €5,398 | +€5,263 | +3,899% |
| Current assets | 29/58 | €110,687 | €170,808 | +€60,122 | +54.3% |
| Stocks and contracts in progress | 3 | - | €29,451 | +€29,451 | |
| Stocks | 30/36 | - | €29,451 | +€29,451 | |
| Amounts receivable within one year | 40/41 | €100,573 | €127,140 | +€26,568 | +26.4% |
| Trade receivables | 40 | €1,420 | €38,544 | +€37,124 | +2,614% |
| Other amounts receivable | 41 | €99,153 | €88,596 | -€10,556 | -10.6% |
| Cash at bank and in hand | 54/58 | €10,114 | €10,508 | +€394 | +3.9% |
| Deferred charges and accrued income | 490/1 | - | €3,710 | +€3,710 | |
| Total equity and liabilities | 10/49 | €137,171 | €205,416 | +€68,245 | +49.8% |
| Equity | 10/15 | €128,568 | €160,184 | +€31,616 | +24.6% |
| Contributions | 10/11 | €18,600 | €37,200 | +€18,600 | +100% |
| Reserves | 13 | €109,491 | €214,777 | +€105,285 | +96.2% |
| Non-distributable reserves | 130/1 | €1,860 | €3,720 | +€1,860 | +100% |
| Reserves not available under the articles | 1311 | €1,860 | €3,720 | +€1,860 | +100% |
| Tax-exempt reserves | 132 | - | €15,229 | +€15,229 | |
| Distributable reserves | 133 | €107,631 | €195,828 | +€88,196 | +81.9% |
| Profit (loss) carried forward | 14 | €477 | -€91,793 | -€92,269 | |
| Amounts payable | 17/49 | €8,603 | €45,232 | +€36,629 | +426% |
| Amounts payable after more than one year | 17 | €910 | €910 | = | 0.0% |
| Other amounts payable | 178/9 | €910 | €910 | = | 0.0% |
| Amounts payable within one year | 42/48 | €7,693 | €44,322 | +€36,629 | +476% |
| Trade debts | 44 | €1,013 | €31,427 | +€30,413 | +3,001% |
| Suppliers | 440/4 | €1,013 | €31,427 | +€30,413 | +3,001% |
| Taxes, remuneration and social security | 45 | €5,039 | €5,146 | +€106 | +2.1% |
| Taxes | 450/3 | €5,039 | €146 | -€4,894 | -97.1% |
| Remuneration and social security | 454/9 | - | €5,000 | +€5,000 | |
| Other amounts payable | 47/48 | €1,640 | €7,750 | +€6,110 | +373% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,836 | €3,410 | +€1,574 | +85.7% |
| Other operating charges | 640/8 | €609 | €2,649 | +€2,040 | +335% |
| Gross operating margin | 9900 | €3,052 | -€22,995 | -€26,047 | |
| Operating profit (loss) | 9901 | €607 | -€29,055 | -€29,662 | |
| Financial income | 75/76B | €45 | €148 | +€103 | +231% |
| Recurring financial income | 75 | €45 | €148 | +€103 | +231% |
| Financial charges | 65/66B | €117 | €5,299 | +€5,182 | +4,413% |
| Recurring financial charges | 65 | €117 | €5,299 | +€5,182 | +4,413% |
| Profit (loss) for the period before taxes | 9903 | €534 | -€34,206 | -€34,740 | |
| Income taxes | 67/77 | €146 | €480 | +€334 | +229% |
| Profit (loss) for the period | 9904 | €389 | -€34,685 | -€35,074 | |
| Profit (loss) for the period to be appropriated | 9905 | €389 | -€34,685 | -€35,074 |
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 1 November 2026 via checked.be.