Target 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.
Target Bouw
Largest movements
- Receivables within one year +€173,686
up €173,686 (+2,535%), from €6,853 to €180,538
of which Trade receivables: +€164,261
- Cash +€30,927
up €30,927 (+289,575%), from €11 to €30,937
mainly Advances received (+€132,539) and Net result for the year (+€33,023)
- Intangible fixed assets +€6,690
up €6,690 (+24.8%), from €26,959 to €33,649
- Advances received +€132,539
new in 2025: €132,539
- Profit (loss) carried forward +€33,023
up €33,023, from -€11,673 to €21,350
- Trade debts +€24,073
new in 2025: €24,073
- Tax, wage and social debts +€22,162
new in 2025: €22,162
of which Remuneration and social security: +€16,824
- Gross operating margin +€85,350
up €85,350, from -€7,050 to €78,300
- Staff costs +€34,941
new in 2025: €34,941
- Taxes +€5,338
new in 2025: €5,338
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 | €38,434 | €250,231 | +€211,797 | +551% |
| Fixed assets | 21/28 | €31,146 | €38,755 | +€7,610 | +24.4% |
| Intangible fixed assets | 21 | €26,959 | €33,649 | +€6,690 | +24.8% |
| Tangible fixed assets | 22/27 | €4,186 | €5,106 | +€919 | +22.0% |
| Plant, machinery and equipment | 23 | - | €1,970 | +€1,970 | |
| Furniture and vehicles | 24 | €4,186 | €3,136 | -€1,050 | -25.1% |
| Current assets | 29/58 | €7,288 | €211,475 | +€204,187 | +2,802% |
| Amounts receivable within one year | 40/41 | €6,853 | €180,538 | +€173,686 | +2,535% |
| Trade receivables | 40 | - | €164,261 | +€164,261 | |
| Other amounts receivable | 41 | €6,853 | €16,277 | +€9,425 | +138% |
| Cash at bank and in hand | 54/58 | €11 | €30,937 | +€30,927 | +289,575% |
| Deferred charges and accrued income | 490/1 | €425 | - | -€425 | |
| Total equity and liabilities | 10/49 | €38,434 | €250,231 | +€211,797 | +551% |
| Equity | 10/15 | -€6,673 | €26,350 | +€33,023 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,673 | €21,350 | +€33,023 | |
| Amounts payable | 17/49 | €45,106 | €223,881 | +€178,775 | +396% |
| Amounts payable within one year | 42/48 | €45,106 | €223,881 | +€178,775 | +396% |
| Trade debts | 44 | - | €24,073 | +€24,073 | |
| Suppliers | 440/4 | - | €24,073 | +€24,073 | |
| Advances received on contracts in progress | 46 | - | €132,539 | +€132,539 | |
| Taxes, remuneration and social security | 45 | - | €22,162 | +€22,162 | |
| Taxes | 450/3 | - | €5,338 | +€5,338 | |
| Remuneration and social security | 454/9 | - | €16,824 | +€16,824 | |
| Other amounts payable | 47/48 | €45,106 | €45,106 | = | 0.0% |
| Remuneration, social security and pensions | 62 | - | €34,941 | +€34,941 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,106 | €4,431 | +€325 | +7.9% |
| Other operating charges | 640/8 | €517 | €479 | -€38 | -7.3% |
| Gross operating margin | 9900 | -€7,050 | €78,300 | +€85,350 | |
| Operating profit (loss) | 9901 | -€11,673 | €38,450 | +€50,122 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | - | €89 | +€89 | |
| Recurring financial charges | 65 | - | €89 | +€89 | |
| Profit (loss) for the period before taxes | 9903 | -€11,673 | €38,360 | +€50,033 | |
| Income taxes | 67/77 | - | €5,338 | +€5,338 | |
| Profit (loss) for the period | 9904 | -€11,673 | €33,023 | +€44,695 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,673 | €33,023 | +€44,695 |
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 18 October 2026 via checked.be.