DR. BOUCKAERT WIM: 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.
DR. BOUCKAERT WIM
Largest movements
- Current investments +€49,575
up €49,575 (+6.4%), from €771,208 to €820,784
- Tangible fixed assets +€26,386
up €26,386 (+89.0%), from €29,659 to €56,045
of which Furniture and vehicles: +€28,360
- Receivables within one year +€24,629
up €24,629 (+11.2%), from €219,750 to €244,379
of which Trade receivables: +€77,146
- Cash +€13,191
up €13,191 (+11.4%), from €115,693 to €128,885
mainly Net result for the year (+€299,219) and Other debts (+€256,417)
- Other debts +€256,417
up €256,417 (+10,482%), from €2,446 to €258,863
- Reserves -€186,277
down €186,277 (-17.0%), from €1.1m to €912,344
- Tax, wage and social debts +€45,215
up €45,215 (+165%), from €27,392 to €72,606
of which Taxes: +€47,715
- Gross operating margin +€75,609
up €75,609 (+23.6%), from €320,040 to €395,648
- Taxes +€34,600
up €34,600 (+34.6%), from €99,960 to €134,561
- Financial income +€33,325
up €33,325 (+157%), from €21,291 to €54,616
- Depreciation -€6,068
down €6,068 (-46.0%), from €13,189 to €7,121
- Financial charges +€5,821
up €5,821 (+247%), from €2,357 to €8,178
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 | €1,146,407 | €1,258,031 | +€111,625 | +9.7% |
| Fixed assets | 21/28 | €32,159 | €58,545 | +€26,386 | +82.1% |
| Tangible fixed assets | 22/27 | €29,659 | €56,045 | +€26,386 | +89.0% |
| Plant, machinery and equipment | 23 | €19,670 | €18,129 | -€1,540 | -7.8% |
| Furniture and vehicles | 24 | €8,689 | €37,049 | +€28,360 | +326% |
| Other tangible fixed assets | 26 | €1,300 | €867 | -€433 | -33.3% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €1,114,248 | €1,199,486 | +€85,238 | +7.6% |
| Amounts receivable within one year | 40/41 | €219,750 | €244,379 | +€24,629 | +11.2% |
| Trade receivables | 40 | €165,010 | €242,156 | +€77,146 | +46.8% |
| Other amounts receivable | 41 | €54,740 | €2,223 | -€52,517 | -95.9% |
| Current investments | 50/53 | €771,208 | €820,784 | +€49,575 | +6.4% |
| Cash at bank and in hand | 54/58 | €115,693 | €128,885 | +€13,191 | +11.4% |
| Deferred charges and accrued income | 490/1 | €7,596 | €5,439 | -€2,158 | -28.4% |
| Total equity and liabilities | 10/49 | €1,146,407 | €1,258,031 | +€111,625 | +9.7% |
| Equity | 10/15 | €1,111,021 | €924,744 | -€186,277 | -16.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,098,621 | €912,344 | -€186,277 | -17.0% |
| Distributable reserves | 133 | €1,098,621 | €912,344 | -€186,277 | -17.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €35,386 | €333,287 | +€297,902 | +842% |
| Amounts payable within one year | 42/48 | €35,386 | €333,116 | +€297,730 | +841% |
| Current portion of amounts payable after more than one year | 42 | €5,415 | €0 | -€5,415 | -100% |
| Financial debts | 43 | €132 | €0 | -€132 | -100% |
| Credit institutions | 430/8 | €132 | €0 | -€132 | -100% |
| Trade debts | 44 | - | €1,646 | +€1,646 | |
| Suppliers | 440/4 | - | €1,646 | +€1,646 | |
| Taxes, remuneration and social security | 45 | €27,392 | €72,606 | +€45,215 | +165% |
| Taxes | 450/3 | €24,892 | €72,606 | +€47,715 | +192% |
| Remuneration and social security | 454/9 | €2,500 | €0 | -€2,500 | -100% |
| Other amounts payable | 47/48 | €2,446 | €258,863 | +€256,417 | +10,482% |
| Accrued charges and deferred income | 492/3 | - | €172 | +€172 | |
| Non-recurring operating income | 76A | - | €8,683 | +€8,683 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,189 | €7,121 | -€6,068 | -46.0% |
| Other operating charges | 640/8 | €1,154 | €1,184 | +€31 | +2.7% |
| Gross operating margin | 9900 | €320,040 | €395,648 | +€75,609 | +23.6% |
| Operating profit (loss) | 9901 | €305,697 | €387,343 | +€81,646 | +26.7% |
| Financial income | 75/76B | €21,291 | €54,616 | +€33,325 | +157% |
| Recurring financial income | 75 | €21,291 | €54,616 | +€33,325 | +157% |
| Financial charges | 65/66B | €2,357 | €8,178 | +€5,821 | +247% |
| Recurring financial charges | 65 | €2,357 | €8,178 | +€5,821 | +247% |
| Profit (loss) for the period before taxes | 9903 | €324,630 | €433,780 | +€109,150 | +33.6% |
| Income taxes | 67/77 | €99,960 | €134,561 | +€34,600 | +34.6% |
| Profit (loss) for the period | 9904 | €224,670 | €299,219 | +€74,550 | +33.2% |
| Profit (loss) for the period to be appropriated | 9905 | €224,670 | €299,219 | +€74,550 | +33.2% |
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 26 October 2026 via checked.be.