D.W. Bouwt: 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.
D.W. Bouwt
Largest movements
- Financial fixed assets +€108,348
up €108,348 (+39.4%), from €275,000 to €383,348
- Receivables within one year -€52,495
down €52,495 (-83.2%), from €63,090 to €10,595
of which Trade receivables: -€45,770
- Tangible fixed assets -€10,542
down €10,542 (-23.0%), from €45,902 to €35,360
- Debts after one year +€56,061
up €56,061 (+19.5%), from €287,169 to €343,230
- Profit (loss) carried forward -€14,136
down €14,136 (-694.3%), from -€2,036 to -€16,172
- Tax, wage and social debts +€8,485
up €8,485 (+373.4%), from €2,273 to €10,758
of which Taxes: +€10,058
- Trade debts -€7,729
down €7,729 (-46.3%), from €16,708 to €8,979
- Accrued charges and deferred income +€5,157
up €5,157 (+298.5%), from €1,727 to €6,884
- Financial charges +€5,007
up €5,007 (+77.6%), from €6,454 to €11,461
- Gross operating margin -€4,790
down €4,790 (-44.6%), from €10,737 to €5,946
- Depreciation +€3,140
up €3,140 (+42.4%), from €7,402 to €10,542
- Financial income +€2,314
up €2,314 (+129.8%), from €1,783 to €4,096
- Other operating charges +€2,044
new in 2025: €2,044
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 | €388,074 | €436,456 | +€48,382 | +12.5% |
| Fixed assets | 21/28 | €320,902 | €418,708 | +€97,806 | +30.5% |
| Tangible fixed assets | 22/27 | €45,902 | €35,360 | -€10,542 | -23.0% |
| Furniture and vehicles | 24 | €45,902 | €35,360 | -€10,542 | -23.0% |
| Financial fixed assets | 28 | €275,000 | €383,348 | +€108,348 | +39.4% |
| Current assets | 29/58 | €67,172 | €17,748 | -€49,424 | -73.6% |
| Amounts receivable within one year | 40/41 | €63,090 | €10,595 | -€52,495 | -83.2% |
| Trade receivables | 40 | €56,365 | €10,595 | -€45,770 | -81.2% |
| Other amounts receivable | 41 | €6,725 | €0 | -€6,725 | -100.0% |
| Cash at bank and in hand | 54/58 | €2,299 | €1,818 | -€481 | -20.9% |
| Deferred charges and accrued income | 490/1 | €1,783 | €5,335 | +€3,552 | +199.2% |
| Total equity and liabilities | 10/49 | €388,074 | €436,456 | +€48,382 | +12.5% |
| Equity | 10/15 | €59,464 | €45,328 | -€14,136 | -23.8% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Contributions outside capital | 11 | €61,500 | €61,500 | = | 0.0% |
| Other | 1109/19 | €61,500 | €61,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,036 | -€16,172 | -€14,136 | -694.3% |
| Amounts payable | 17/49 | €328,610 | €391,128 | +€62,518 | +19.0% |
| Amounts payable after more than one year | 17 | €287,169 | €343,230 | +€56,061 | +19.5% |
| Financial debts | 170/4 | €287,169 | €343,230 | +€56,061 | +19.5% |
| Amounts payable within one year | 42/48 | €39,714 | €41,014 | +€1,300 | +3.3% |
| Current portion of amounts payable after more than one year | 42 | €20,024 | €20,666 | +€643 | +3.2% |
| Trade debts | 44 | €16,708 | €8,979 | -€7,729 | -46.3% |
| Suppliers | 440/4 | €16,708 | €8,979 | -€7,729 | -46.3% |
| Taxes, remuneration and social security | 45 | €2,273 | €10,758 | +€8,485 | +373.4% |
| Taxes | 450/3 | €700 | €10,758 | +€10,058 | +1437.7% |
| Remuneration and social security | 454/9 | €1,573 | €0 | -€1,573 | -100.0% |
| Other amounts payable | 47/48 | €710 | €611 | -€99 | -13.9% |
| Accrued charges and deferred income | 492/3 | €1,727 | €6,884 | +€5,157 | +298.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,402 | €10,542 | +€3,140 | +42.4% |
| Other operating charges | 640/8 | - | €2,044 | +€2,044 | |
| Gross operating margin | 9900 | €10,737 | €5,946 | -€4,790 | -44.6% |
| Operating profit (loss) | 9901 | €3,335 | -€6,640 | -€9,974 | |
| Financial income | 75/76B | €1,783 | €4,096 | +€2,314 | +129.8% |
| Recurring financial income | 75 | €1,783 | €4,096 | +€2,314 | +129.8% |
| Financial charges | 65/66B | €6,454 | €11,461 | +€5,007 | +77.6% |
| Recurring financial charges | 65 | €6,454 | €11,461 | +€5,007 | +77.6% |
| Profit (loss) for the period before taxes | 9903 | -€1,337 | -€14,004 | -€12,668 | -947.8% |
| Income taxes | 67/77 | €700 | €132 | -€568 | -81.1% |
| Profit (loss) for the period | 9904 | -€2,036 | -€14,136 | -€12,100 | -594.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,036 | -€14,136 | -€12,100 | -594.3% |
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 10 October 2026 via checked.be.