FIRST 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.
FIRST BOUW
Largest movements
- Cash -€3,977
down €3,977 (-70.1%), from €5,671 to €1,695
mainly Trade debts (-€6,840) and Receivables within one year (-€302)
- Tangible fixed assets -€1,725
no longer reported in 2025 (was €1,725)
of which Plant, machinery and equipment: -€1,208
- Receivables within one year +€302
up €302 (+7.7%), from €3,907 to €4,209
of which Other amounts receivable: +€3,261
- Trade debts -€6,840
down €6,840 (-95.8%), from €7,143 to €303
- Reserves +€909
up €909 (+62.4%), from €1,456 to €2,365
- Other debts +€656
new in 2025: €656
- Tax, wage and social debts -€124
down €124 (-17.6%), from €704 to €580
- Depreciation -€779
no longer reported in 2025 (was €779)
- Gross operating margin -€759
down €759 (-21.0%), from €3,609 to €2,850
- Financial charges +€645
up €645 (+327.4%), from €197 to €841
- Taxes -€91
down €91 (-13.6%), from €671 to €580
- Other operating charges -€49
down €49 (-8.7%), from €569 to €520
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 | €11,303 | €5,904 | -€5,400 | -47.8% |
| Fixed assets | 21/28 | €1,725 | - | -€1,725 | |
| Tangible fixed assets | 22/27 | €1,725 | - | -€1,725 | |
| Plant, machinery and equipment | 23 | €1,208 | - | -€1,208 | |
| Furniture and vehicles | 24 | €517 | - | -€517 | |
| Current assets | 29/58 | €9,578 | €5,904 | -€3,675 | -38.4% |
| Amounts receivable within one year | 40/41 | €3,907 | €4,209 | +€302 | +7.7% |
| Trade receivables | 40 | €2,959 | - | -€2,959 | |
| Other amounts receivable | 41 | €948 | €4,209 | +€3,261 | +344.0% |
| Cash at bank and in hand | 54/58 | €5,671 | €1,695 | -€3,977 | -70.1% |
| Total equity and liabilities | 10/49 | €11,303 | €5,904 | -€5,400 | -47.8% |
| Equity | 10/15 | €3,456 | €4,365 | +€909 | +26.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €1,456 | €2,365 | +€909 | +62.4% |
| Distributable reserves | 133 | €1,456 | €2,365 | +€909 | +62.4% |
| Amounts payable | 17/49 | €7,847 | €1,538 | -€6,309 | -80.4% |
| Amounts payable within one year | 42/48 | €7,847 | €1,538 | -€6,309 | -80.4% |
| Trade debts | 44 | €7,143 | €303 | -€6,840 | -95.8% |
| Suppliers | 440/4 | €7,143 | €303 | -€6,840 | -95.8% |
| Taxes, remuneration and social security | 45 | €704 | €580 | -€124 | -17.6% |
| Taxes | 450/3 | €704 | €580 | -€124 | -17.6% |
| Other amounts payable | 47/48 | - | €656 | +€656 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €779 | - | -€779 | |
| Other operating charges | 640/8 | €569 | €520 | -€49 | -8.7% |
| Gross operating margin | 9900 | €3,609 | €2,850 | -€759 | -21.0% |
| Operating profit (loss) | 9901 | €2,260 | €2,330 | +€70 | +3.1% |
| Financial income | 75/76B | €7 | - | -€7 | |
| Recurring financial income | 75 | €7 | - | -€7 | |
| Financial charges | 65/66B | €197 | €841 | +€645 | +327.4% |
| Recurring financial charges | 65 | €197 | €841 | +€645 | +327.4% |
| Profit (loss) for the period before taxes | 9903 | €2,070 | €1,489 | -€581 | -28.1% |
| Income taxes | 67/77 | €671 | €580 | -€91 | -13.6% |
| Profit (loss) for the period | 9904 | €1,398 | €909 | -€490 | -35.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,398 | €909 | -€490 | -35.0% |
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 10 October 2026 via checked.be.