STEVEN BOUDT 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.
STEVEN BOUDT BOUW
Largest movements
- Receivables within one year +€18,942
up €18,942 (+92.8%), from €20,421 to €39,364
of which Other amounts receivable: +€12,087
- Stocks and contracts -€13,750
no longer reported in 2025 (was €13,750)
- Tangible fixed assets -€11,479
down €11,479 (-27.6%), from €41,595 to €30,116
of which Furniture and vehicles: -€10,958
- Cash -€1,663
down €1,663 (-99.6%), from €1,669 to €6
mainly Receivables within one year (-€18,942) and Debts after one year (-€13,103)
- Debts after one year -€13,103
down €13,103 (-75.7%), from €17,300 to €4,197
- Reserves +€8,684
up €8,684 (+44.5%), from €19,500 to €28,184
- Current portion of long-term debt -€3,709
down €3,709 (-21.6%), from €17,153 to €13,444
- Tax, wage and social debts +€2,946
up €2,946 (+53.8%), from €5,475 to €8,420
of which Remuneration and social security: +€1,500
- Profit (loss) carried forward -€1,741
no longer reported in 2025 (was €1,741)
- Gross operating margin +€14,123
up €14,123 (+65.9%), from €21,444 to €35,567
- Taxes +€5,206
up €5,206 (+380%), from €1,372 to €6,577
- Other operating charges +€3,744
up €3,744 (+588%), from €637 to €4,382
- Financial charges -€719
down €719 (-49.5%), from €1,454 to €735
- Depreciation +€541
up €541 (+3.3%), from €16,638 to €17,179
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 | €77,837 | €69,688 | -€8,149 | -10.5% |
| Fixed assets | 21/28 | €41,997 | €30,319 | -€11,679 | -27.8% |
| Intangible fixed assets | 21 | €402 | €202 | -€200 | -49.7% |
| Tangible fixed assets | 22/27 | €41,595 | €30,116 | -€11,479 | -27.6% |
| Plant, machinery and equipment | 23 | €17,711 | €17,191 | -€520 | -2.9% |
| Furniture and vehicles | 24 | €23,884 | €12,925 | -€10,958 | -45.9% |
| Current assets | 29/58 | €35,840 | €39,370 | +€3,530 | +9.8% |
| Stocks and contracts in progress | 3 | €13,750 | - | -€13,750 | |
| Contracts in progress | 37 | €13,750 | - | -€13,750 | |
| Amounts receivable within one year | 40/41 | €20,421 | €39,364 | +€18,942 | +92.8% |
| Trade receivables | 40 | €5,143 | €11,998 | +€6,855 | +133% |
| Other amounts receivable | 41 | €15,278 | €27,365 | +€12,087 | +79.1% |
| Cash at bank and in hand | 54/58 | €1,669 | €6 | -€1,663 | -99.6% |
| Total equity and liabilities | 10/49 | €77,837 | €69,688 | -€8,149 | -10.5% |
| Equity | 10/15 | €23,741 | €30,684 | +€6,942 | +29.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €19,500 | €28,184 | +€8,684 | +44.5% |
| Distributable reserves | 133 | €19,500 | €28,184 | +€8,684 | +44.5% |
| Profit (loss) carried forward | 14 | €1,741 | - | -€1,741 | |
| Amounts payable | 17/49 | €54,096 | €39,005 | -€15,091 | -27.9% |
| Amounts payable after more than one year | 17 | €17,300 | €4,197 | -€13,103 | -75.7% |
| Financial debts | 170/4 | €17,300 | €4,197 | -€13,103 | -75.7% |
| Amounts payable within one year | 42/48 | €36,796 | €34,807 | -€1,988 | -5.4% |
| Current portion of amounts payable after more than one year | 42 | €17,153 | €13,444 | -€3,709 | -21.6% |
| Trade debts | 44 | €14,168 | €12,943 | -€1,225 | -8.6% |
| Suppliers | 440/4 | €14,168 | €12,943 | -€1,225 | -8.6% |
| Taxes, remuneration and social security | 45 | €5,475 | €8,420 | +€2,946 | +53.8% |
| Taxes | 450/3 | €5,475 | €6,920 | +€1,446 | +26.4% |
| Remuneration and social security | 454/9 | - | €1,500 | +€1,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,638 | €17,179 | +€541 | +3.3% |
| Other operating charges | 640/8 | €637 | €4,382 | +€3,744 | +588% |
| Gross operating margin | 9900 | €21,444 | €35,567 | +€14,123 | +65.9% |
| Operating profit (loss) | 9901 | €4,170 | €14,007 | +€9,838 | +236% |
| Financial income | 75/76B | €28 | €247 | +€219 | +791% |
| Recurring financial income | 75 | €28 | €247 | +€219 | +791% |
| Financial charges | 65/66B | €1,454 | €735 | -€719 | -49.5% |
| Recurring financial charges | 65 | €1,454 | €735 | -€719 | -49.5% |
| Profit (loss) for the period before taxes | 9903 | €2,743 | €13,520 | +€10,776 | +393% |
| Income taxes | 67/77 | €1,372 | €6,577 | +€5,206 | +380% |
| Profit (loss) for the period | 9904 | €1,372 | €6,942 | +€5,571 | +406% |
| Profit (loss) for the period to be appropriated | 9905 | €1,372 | €6,942 | +€5,571 | +406% |
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 31 October 2026 via checked.be.