SIEMKA BOUW: what changed
SIEMKA BOUW
Largest movements
- Tangible fixed assets +€194,596
up €194,596 (+15,511%), from €1,255 to €195,851
of which Furniture and vehicles: +€174,834
- Receivables within one year +€133,952
up €133,952 (+38.5%), from €347,967 to €481,919
of which Other amounts receivable: +€161,865
- Stocks and contracts +€51,776
up €51,776 (+259%), from €20,000 to €71,776
of which Stocks: +€51,776
- Cash -€13,895
down €13,895 (-46.3%), from €30,004 to €16,109
mainly Investment in fixed assets (net) (-€211,654) and Receivables within one year (-€133,952)
- Reserves +€229,460
new in 2025: €229,460
- Profit (loss) carried forward -€167,568
no longer reported in 2025 (was €167,568)
- Other debts +€116,261
up €116,261 (+122%), from €95,128 to €211,389
- Debts after one year +€106,985
new in 2025: €106,985
- Trade debts +€50,295
up €50,295 (+40.6%), from €123,942 to €174,237
- Depreciation +€16,963
up €16,963 (+17,777%), from €95 to €17,058
- Staff costs -€15,469
no longer reported in 2025 (was €15,469)
- Gross operating margin +€13,603
up €13,603 (+14.6%), from €93,150 to €106,753
- Taxes +€5,672
up €5,672 (+30.8%), from €18,400 to €24,072
- Financial income +€1,974
up €1,974 (+204%), from €967 to €2,941
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €403,072 | €774,444 | +€371,372 | +92.1% |
| Fixed assets | 21/28 | €1,255 | €195,851 | +€194,596 | +15,511% |
| Tangible fixed assets | 22/27 | €1,255 | €195,851 | +€194,596 | +15,511% |
| Plant, machinery and equipment | 23 | €1,255 | €21,017 | +€19,762 | +1,575% |
| Furniture and vehicles | 24 | - | €174,834 | +€174,834 | |
| Current assets | 29/58 | €401,817 | €578,593 | +€176,776 | +44.0% |
| Stocks and contracts in progress | 3 | €20,000 | €71,776 | +€51,776 | +259% |
| Stocks | 30/36 | €20,000 | €71,776 | +€51,776 | +259% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €347,967 | €481,919 | +€133,952 | +38.5% |
| Trade receivables | 40 | €347,623 | €319,709 | -€27,913 | -8.0% |
| Other amounts receivable | 41 | €344 | €162,210 | +€161,865 | +46,999% |
| Cash at bank and in hand | 54/58 | €30,004 | €16,109 | -€13,895 | -46.3% |
| Deferred charges and accrued income | 490/1 | €3,846 | €8,789 | +€4,942 | +128% |
| Total equity and liabilities | 10/49 | €403,072 | €774,444 | +€371,372 | +92.1% |
| Equity | 10/15 | €168,568 | €230,460 | +€61,891 | +36.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | - | €229,460 | +€229,460 | |
| Distributable reserves | 133 | - | €229,460 | +€229,460 | |
| Profit (loss) carried forward | 14 | €167,568 | - | -€167,568 | |
| Amounts payable | 17/49 | €234,504 | €543,984 | +€309,480 | +132% |
| Amounts payable after more than one year | 17 | - | €106,985 | +€106,985 | |
| Financial debts | 170/4 | - | €106,985 | +€106,985 | |
| Amounts payable within one year | 42/48 | €234,504 | €436,999 | +€202,496 | +86.4% |
| Current portion of amounts payable after more than one year | 42 | - | €47,973 | +€47,973 | |
| Trade debts | 44 | €123,942 | €174,237 | +€50,295 | +40.6% |
| Suppliers | 440/4 | €123,942 | €174,237 | +€50,295 | +40.6% |
| Taxes, remuneration and social security | 45 | €15,433 | €3,400 | -€12,033 | -78.0% |
| Taxes | 450/3 | €15,433 | €3,400 | -€12,033 | -78.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €95,128 | €211,389 | +€116,261 | +122% |
| Remuneration, social security and pensions | 62 | €15,469 | - | -€15,469 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95 | €17,058 | +€16,963 | +17,777% |
| Other operating charges | 640/8 | €1,021 | €2,629 | +€1,607 | +157% |
| Non-recurring operating charges | 66A | €446 | - | -€446 | |
| Gross operating margin | 9900 | €93,150 | €106,753 | +€13,603 | +14.6% |
| Operating profit (loss) | 9901 | €76,118 | €87,066 | +€10,948 | +14.4% |
| Financial income | 75/76B | €967 | €2,941 | +€1,974 | +204% |
| Recurring financial income | 75 | €967 | €2,941 | +€1,974 | +204% |
| Financial charges | 65/66B | €3,635 | €4,044 | +€409 | +11.3% |
| Recurring financial charges | 65 | €3,635 | €4,044 | +€409 | +11.3% |
| Profit (loss) for the period before taxes | 9903 | €73,450 | €85,963 | +€12,513 | +17.0% |
| Income taxes | 67/77 | €18,400 | €24,072 | +€5,672 | +30.8% |
| Profit (loss) for the period | 9904 | €55,050 | €61,891 | +€6,841 | +12.4% |
| Profit (loss) for the period to be appropriated | 9905 | €55,050 | €61,891 | +€6,841 | +12.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.