VAN BOUWEL: what changed
Two fiscal 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.
VAN BOUWEL
Largest movements
- Tangible fixed assets -€13,607
down €13,607 (-12.9%), from €105,606 to €91,999
of which Furniture and vehicles: -€21,734
- Cash -€6,461
down €6,461 (-8.3%), from €77,710 to €71,249
mainly Other debts (-€23,717) and Investment in fixed assets (net) (-€21,750)
- Stocks and contracts -€2,300
down €2,300 (-71.9%), from €3,200 to €900
- Receivables within one year -€2,173
down €2,173 (-8.5%), from €25,635 to €23,463
of which Trade receivables: -€3,138
- Other debts -€23,717
down €23,717 (-30.8%), from €76,930 to €53,213
- Debts after one year -€21,676
down €21,676 (-49.6%), from €43,674 to €21,997
- Reserves +€18,181
up €18,181 (+37.8%), from €48,079 to €66,260
of which Distributable reserves: +€18,181
- Trade debts +€3,747
up €3,747 (+117.0%), from €3,201 to €6,948
- Depreciation -€7,267
down €7,267 (-17.0%), from €42,624 to €35,357
- Taxes +€4,275
up €4,275 (+711.6%), from €601 to €4,876
- Staff costs +€2,054
up €2,054 (+52.6%), from €3,907 to €5,961
- Gross operating margin +€1,230
up €1,230 (+1.7%), from €73,275 to €74,505
- Financial charges +€983
up €983 (+22.7%), from €4,338 to €5,322
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 | €216,740 | €190,946 | -€25,795 | -11.9% |
| Fixed assets | 21/28 | €105,771 | €92,164 | -€13,607 | -12.9% |
| Tangible fixed assets | 22/27 | €105,606 | €91,999 | -€13,607 | -12.9% |
| Land and buildings | 22 | €11,909 | €9,716 | -€2,193 | -18.4% |
| Plant, machinery and equipment | 23 | €43,156 | €53,475 | +€10,320 | +23.9% |
| Furniture and vehicles | 24 | €50,541 | €28,808 | -€21,734 | -43.0% |
| Financial fixed assets | 28 | €165 | €165 | = | 0.0% |
| Current assets | 29/58 | €110,969 | €98,782 | -€12,188 | -11.0% |
| Stocks and contracts in progress | 3 | €3,200 | €900 | -€2,300 | -71.9% |
| Stocks | 30/36 | €3,200 | €900 | -€2,300 | -71.9% |
| Amounts receivable within one year | 40/41 | €25,635 | €23,463 | -€2,173 | -8.5% |
| Trade receivables | 40 | €24,622 | €21,484 | -€3,138 | -12.7% |
| Other amounts receivable | 41 | €1,013 | €1,978 | +€965 | +95.2% |
| Cash at bank and in hand | 54/58 | €77,710 | €71,249 | -€6,461 | -8.3% |
| Deferred charges and accrued income | 490/1 | €4,424 | €3,170 | -€1,254 | -28.4% |
| Total equity and liabilities | 10/49 | €216,740 | €190,946 | -€25,795 | -11.9% |
| Equity | 10/15 | €67,379 | €85,560 | +€18,181 | +27.0% |
| Contributions | 10/11 | €19,300 | €19,300 | = | 0.0% |
| Reserves | 13 | €48,079 | €66,260 | +€18,181 | +37.8% |
| Tax-exempt reserves | 132 | €7,569 | €7,569 | = | 0.0% |
| Distributable reserves | 133 | €40,510 | €58,691 | +€18,181 | +44.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €149,362 | €105,386 | -€43,976 | -29.4% |
| Amounts payable after more than one year | 17 | €43,674 | €21,997 | -€21,676 | -49.6% |
| Financial debts | 170/4 | €43,674 | €21,997 | -€21,676 | -49.6% |
| Amounts payable within one year | 42/48 | €105,688 | €83,389 | -€22,299 | -21.1% |
| Current portion of amounts payable after more than one year | 42 | €23,790 | €21,676 | -€2,113 | -8.9% |
| Trade debts | 44 | €3,201 | €6,948 | +€3,747 | +117.0% |
| Suppliers | 440/4 | €3,201 | €6,948 | +€3,747 | +117.0% |
| Taxes, remuneration and social security | 45 | €1,767 | €1,551 | -€216 | -12.2% |
| Taxes | 450/3 | €1,215 | €1,089 | -€127 | -10.4% |
| Remuneration and social security | 454/9 | €552 | €462 | -€89 | -16.2% |
| Other amounts payable | 47/48 | €76,930 | €53,213 | -€23,717 | -30.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €3,907 | €5,961 | +€2,054 | +52.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,624 | €35,357 | -€7,267 | -17.0% |
| Other operating charges | 640/8 | €4,503 | €4,809 | +€306 | +6.8% |
| Gross operating margin | 9900 | €73,275 | €74,505 | +€1,230 | +1.7% |
| Operating profit (loss) | 9901 | €22,242 | €28,378 | +€6,136 | +27.6% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €4,338 | €5,322 | +€983 | +22.7% |
| Recurring financial charges | 65 | €4,338 | €5,322 | +€983 | +22.7% |
| Profit (loss) for the period before taxes | 9903 | €17,904 | €23,057 | +€5,153 | +28.8% |
| Income taxes | 67/77 | €601 | €4,876 | +€4,275 | +711.6% |
| Profit (loss) for the period | 9904 | €17,303 | €18,181 | +€878 | +5.1% |
| Profit (loss) for the period to be appropriated | 9905 | €17,303 | €18,181 | +€878 | +5.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.