WARD BOUCIQUE: 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.
WARD BOUCIQUE
Largest movements
- Receivables within one year +€39,094
up €39,094 (+877%), from €4,458 to €43,552
of which Trade receivables: +€39,244
- Tangible fixed assets -€15,579
down €15,579 (-49.7%), from €31,364 to €15,784
of which Furniture and vehicles: -€15,071
- Cash +€10,629
up €10,629 (+52.1%), from €20,386 to €31,015
mainly Net result for the year (+€71,716) and Other debts (+€52,673)
- Deferred charges and accrued income +€4,147
up €4,147 (+32.9%), from €12,624 to €16,771
- Other debts +€52,673
up €52,673 (+72.3%), from €72,851 to €125,524
- Profit (loss) carried forward -€19,903
down €19,903 (-100%), from €19,903 to €0
- Tax, wage and social debts +€5,216
up €5,216 (+39.4%), from €13,254 to €18,471
- Gross operating margin +€47,492
up €47,492 (+72.7%), from €65,317 to €112,809
- Taxes +€14,626
up €14,626 (+134%), from €10,883 to €25,510
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 | €125,252 | €163,543 | +€38,291 | +30.6% |
| Fixed assets | 21/28 | €87,785 | €72,206 | -€15,579 | -17.7% |
| Tangible fixed assets | 22/27 | €31,364 | €15,784 | -€15,579 | -49.7% |
| Plant, machinery and equipment | 23 | €1,072 | €564 | -€509 | -47.4% |
| Furniture and vehicles | 24 | €30,291 | €15,221 | -€15,071 | -49.8% |
| Financial fixed assets | 28 | €56,421 | €56,421 | = | 0.0% |
| Current assets | 29/58 | €37,467 | €91,337 | +€53,870 | +144% |
| Amounts receivable within one year | 40/41 | €4,458 | €43,552 | +€39,094 | +877% |
| Trade receivables | 40 | €4,307 | €43,552 | +€39,244 | +911% |
| Other amounts receivable | 41 | €150 | €0 | -€150 | -100% |
| Cash at bank and in hand | 54/58 | €20,386 | €31,015 | +€10,629 | +52.1% |
| Deferred charges and accrued income | 490/1 | €12,624 | €16,771 | +€4,147 | +32.9% |
| Total equity and liabilities | 10/49 | €125,252 | €163,543 | +€38,291 | +30.6% |
| Equity | 10/15 | €38,626 | €18,600 | -€20,026 | -51.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €123 | €0 | -€123 | -100% |
| Distributable reserves | 133 | €123 | €0 | -€123 | -100% |
| Profit (loss) carried forward | 14 | €19,903 | €0 | -€19,903 | -100% |
| Amounts payable | 17/49 | €86,626 | €144,943 | +€58,317 | +67.3% |
| Amounts payable within one year | 42/48 | €86,626 | €144,943 | +€58,317 | +67.3% |
| Trade debts | 44 | €520 | €948 | +€428 | +82.3% |
| Suppliers | 440/4 | €520 | €948 | +€428 | +82.3% |
| Taxes, remuneration and social security | 45 | €13,254 | €18,471 | +€5,216 | +39.4% |
| Taxes | 450/3 | €13,254 | €18,471 | +€5,216 | +39.4% |
| Other amounts payable | 47/48 | €72,851 | €125,524 | +€52,673 | +72.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,066 | €15,579 | -€487 | -3.0% |
| Other operating charges | 640/8 | €63 | €0 | -€63 | -100% |
| Gross operating margin | 9900 | €65,317 | €112,809 | +€47,492 | +72.7% |
| Operating profit (loss) | 9901 | €49,188 | €97,230 | +€48,042 | +97.7% |
| Financial income | 75/76B | €41 | €63 | +€22 | +53.9% |
| Recurring financial income | 75 | €41 | €63 | +€22 | +53.9% |
| Financial charges | 65/66B | €89 | €67 | -€22 | -24.7% |
| Recurring financial charges | 65 | €89 | €67 | -€22 | -24.7% |
| Profit (loss) for the period before taxes | 9903 | €49,140 | €97,226 | +€48,086 | +97.9% |
| Income taxes | 67/77 | €10,883 | €25,510 | +€14,626 | +134% |
| Profit (loss) for the period | 9904 | €38,256 | €71,716 | +€33,460 | +87.5% |
| Profit (loss) for the period to be appropriated | 9905 | €38,256 | €71,716 | +€33,460 | +87.5% |
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.