DE CLERCQ - BOURDEAUD'HUI: 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.
DE CLERCQ - BOURDEAUD'HUI
Largest movements
- Stocks and contracts +€735,938
up €735,938 (+57.8%), from €1.3m to €2.0m
- Cash +€194,491
up €194,491 (+38.4%), from €506,975 to €701,466
mainly Trade debts (+€634,106) and Receivables within one year (+€192,873)
- Receivables within one year -€192,873
down €192,873 (-22.2%), from €868,253 to €675,381
of which Trade receivables: -€233,390
- Tangible fixed assets -€54,370
down €54,370 (-8.6%), from €630,597 to €576,227
of which Land and buildings: -€30,555
- Trade debts +€634,106
up €634,106 (+107%), from €592,400 to €1.2m
- Reserves +€72,400
up €72,400 (+7.8%), from €922,487 to €994,887
of which Distributable reserves: +€72,400
- Advances received -€54,754
down €54,754 (-100%), from €54,754 to €0
- Gross operating margin -€148,680
down €148,680 (-44.3%), from €335,460 to €186,780
- Taxes -€37,047
down €37,047 (-54.4%), from €68,072 to €31,025
- Staff costs -€29,645
down €29,645 (-100%), from €29,645 to €0
- Depreciation -€13,455
down €13,455 (-19.8%), from €68,058 to €54,603
- Other operating charges +€4,626
up €4,626 (+64.9%), from €7,131 to €11,757
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 | €3,308,124 | €3,966,797 | +€658,673 | +19.9% |
| Fixed assets | 21/28 | €658,296 | €578,903 | -€79,392 | -12.1% |
| Intangible fixed assets | 21 | €410 | €177 | -€233 | -56.9% |
| Tangible fixed assets | 22/27 | €630,597 | €576,227 | -€54,370 | -8.6% |
| Land and buildings | 22 | €582,387 | €551,832 | -€30,555 | -5.2% |
| Plant, machinery and equipment | 23 | €3,710 | €2,544 | -€1,166 | -31.4% |
| Furniture and vehicles | 24 | €44,500 | €21,850 | -€22,650 | -50.9% |
| Financial fixed assets | 28 | €27,289 | €2,500 | -€24,789 | -90.8% |
| Current assets | 29/58 | €2,649,828 | €3,387,893 | +€738,065 | +27.9% |
| Stocks and contracts in progress | 3 | €1,273,982 | €2,009,920 | +€735,938 | +57.8% |
| Stocks | 30/36 | €1,273,982 | €2,009,920 | +€735,938 | +57.8% |
| Amounts receivable within one year | 40/41 | €868,253 | €675,381 | -€192,873 | -22.2% |
| Trade receivables | 40 | €847,975 | €614,585 | -€233,390 | -27.5% |
| Other amounts receivable | 41 | €20,278 | €60,796 | +€40,517 | +200% |
| Cash at bank and in hand | 54/58 | €506,975 | €701,466 | +€194,491 | +38.4% |
| Deferred charges and accrued income | 490/1 | €617 | €1,126 | +€509 | +82.5% |
| Total equity and liabilities | 10/49 | €3,308,124 | €3,966,797 | +€658,673 | +19.9% |
| Equity | 10/15 | €2,553,018 | €2,625,421 | +€72,403 | +2.8% |
| Contributions | 10/11 | €1,620,000 | €1,620,000 | = | 0.0% |
| Capital | 10 | €1,620,000 | €1,620,000 | = | 0.0% |
| Issued capital | 100 | €1,620,000 | €1,620,000 | = | 0.0% |
| Reserves | 13 | €922,487 | €994,887 | +€72,400 | +7.8% |
| Non-distributable reserves | 130/1 | €162,000 | €162,000 | = | 0.0% |
| Legal reserve | 130 | €162,000 | €162,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,487 | €1,487 | = | 0.0% |
| Distributable reserves | 133 | €759,000 | €831,400 | +€72,400 | +9.5% |
| Profit (loss) carried forward | 14 | €10,531 | €10,534 | +€3 | 0.0% |
| Amounts payable | 17/49 | €755,105 | €1,341,375 | +€586,270 | +77.6% |
| Amounts payable within one year | 42/48 | €745,511 | €1,335,775 | +€590,264 | +79.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €592,400 | €1,226,507 | +€634,106 | +107% |
| Suppliers | 440/4 | €592,400 | €1,226,507 | +€634,106 | +107% |
| Advances received on contracts in progress | 46 | €54,754 | €0 | -€54,754 | -100% |
| Taxes, remuneration and social security | 45 | €21,245 | €28,485 | +€7,240 | +34.1% |
| Taxes | 450/3 | €21,245 | €28,485 | +€7,240 | +34.1% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €77,112 | €80,783 | +€3,671 | +4.8% |
| Accrued charges and deferred income | 492/3 | €9,594 | €5,600 | -€3,994 | -41.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €29,645 | €0 | -€29,645 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,058 | €54,603 | -€13,455 | -19.8% |
| Other operating charges | 640/8 | €7,131 | €11,757 | +€4,626 | +64.9% |
| Gross operating margin | 9900 | €335,460 | €186,780 | -€148,680 | -44.3% |
| Operating profit (loss) | 9901 | €230,625 | €120,420 | -€110,206 | -47.8% |
| Financial income | 75/76B | €2,376 | €5 | -€2,371 | -99.8% |
| Recurring financial income | 75 | €2,376 | €5 | -€2,371 | -99.8% |
| Financial charges | 65/66B | €13,958 | €16,997 | +€3,039 | +21.8% |
| Recurring financial charges | 65 | €13,958 | €16,997 | +€3,039 | +21.8% |
| Profit (loss) for the period before taxes | 9903 | €219,043 | €103,428 | -€115,615 | -52.8% |
| Income taxes | 67/77 | €68,072 | €31,025 | -€37,047 | -54.4% |
| Profit (loss) for the period | 9904 | €150,971 | €72,403 | -€78,569 | -52.0% |
| Profit (loss) for the period to be appropriated | 9905 | €150,971 | €72,403 | -€78,569 | -52.0% |
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 27 October 2026 via checked.be.