Advocaat Michaël Boudry: 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.
Advocaat Michaël Boudry
Largest movements
- Current investments -€53,102
down €53,102 (-38.8%), from €137,018 to €83,916
- Receivables within one year +€52,776
up €52,776 (+269%), from €19,625 to €72,401
of which Trade receivables: +€67,419
- Tangible fixed assets -€34,691
down €34,691 (-15.8%), from €219,090 to €184,399
of which Furniture and vehicles: -€18,739
- Cash +€22,154
up €22,154 (+149%), from €14,874 to €37,028
mainly Net result for the year (+€74,268) and Current investments (+€53,102)
- Debts after one year -€30,446
down €30,446 (-22.8%), from €133,406 to €102,960
- Other debts +€9,554
up €9,554 (+19.1%), from €50,000 to €59,554
- Tax, wage and social debts +€5,029
up €5,029 (+74.1%), from €6,785 to €11,814
- Gross operating margin +€24,659
up €24,659 (+22.8%), from €108,217 to €132,876
- Taxes +€7,710
up €7,710 (+61.7%), from €12,493 to €20,203
- Financial income -€1,576
down €1,576 (-27.6%), from €5,702 to €4,126
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 | €455,200 | €442,438 | -€12,762 | -2.8% |
| Fixed assets | 21/28 | €244,090 | €209,399 | -€34,691 | -14.2% |
| Tangible fixed assets | 22/27 | €219,090 | €184,399 | -€34,691 | -15.8% |
| Land and buildings | 22 | €158,107 | €142,155 | -€15,952 | -10.1% |
| Furniture and vehicles | 24 | €59,234 | €40,494 | -€18,739 | -31.6% |
| Other tangible fixed assets | 26 | €1,750 | €1,750 | = | 0.0% |
| Financial fixed assets | 28 | €25,000 | €25,000 | = | 0.0% |
| Current assets | 29/58 | €211,110 | €233,039 | +€21,929 | +10.4% |
| Amounts receivable after more than one year | 29 | €37,715 | €37,715 | = | 0.0% |
| Other amounts receivable | 291 | €37,715 | €37,715 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €19,625 | €72,401 | +€52,776 | +269% |
| Trade receivables | 40 | €81 | €67,500 | +€67,419 | +83,574% |
| Other amounts receivable | 41 | €19,544 | €4,901 | -€14,643 | -74.9% |
| Current investments | 50/53 | €137,018 | €83,916 | -€53,102 | -38.8% |
| Cash at bank and in hand | 54/58 | €14,874 | €37,028 | +€22,154 | +149% |
| Deferred charges and accrued income | 490/1 | €1,878 | €1,980 | +€102 | +5.4% |
| Total equity and liabilities | 10/49 | €455,200 | €442,438 | -€12,762 | -2.8% |
| Equity | 10/15 | €232,001 | €233,769 | +€1,768 | +0.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €213,401 | €215,169 | +€1,768 | +0.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €545 | €545 | = | 0.0% |
| Distributable reserves | 133 | €210,996 | €212,764 | +€1,768 | +0.8% |
| Amounts payable | 17/49 | €223,199 | €208,670 | -€14,530 | -6.5% |
| Amounts payable after more than one year | 17 | €133,406 | €102,960 | -€30,446 | -22.8% |
| Financial debts | 170/4 | €133,406 | €102,960 | -€30,446 | -22.8% |
| Amounts payable within one year | 42/48 | €89,794 | €105,710 | +€15,916 | +17.7% |
| Current portion of amounts payable after more than one year | 42 | €30,723 | €30,446 | -€277 | -0.9% |
| Trade debts | 44 | €2,286 | €3,895 | +€1,610 | +70.4% |
| Suppliers | 440/4 | €2,286 | €3,895 | +€1,610 | +70.4% |
| Taxes, remuneration and social security | 45 | €6,785 | €11,814 | +€5,029 | +74.1% |
| Taxes | 450/3 | €6,785 | €11,814 | +€5,029 | +74.1% |
| Other amounts payable | 47/48 | €50,000 | €59,554 | +€9,554 | +19.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,568 | €38,522 | +€955 | +2.5% |
| Other operating charges | 640/8 | €938 | €314 | -€624 | -66.6% |
| Gross operating margin | 9900 | €108,217 | €132,876 | +€24,659 | +22.8% |
| Operating profit (loss) | 9901 | €69,712 | €94,040 | +€24,328 | +34.9% |
| Financial income | 75/76B | €5,702 | €4,126 | -€1,576 | -27.6% |
| Recurring financial income | 75 | €5,702 | €4,126 | -€1,576 | -27.6% |
| Financial charges | 65/66B | €3,817 | €3,695 | -€122 | -3.2% |
| Recurring financial charges | 65 | €3,817 | €3,695 | -€122 | -3.2% |
| Profit (loss) for the period before taxes | 9903 | €71,597 | €94,471 | +€22,874 | +31.9% |
| Income taxes | 67/77 | €12,493 | €20,203 | +€7,710 | +61.7% |
| Profit (loss) for the period | 9904 | €59,103 | €74,268 | +€15,164 | +25.7% |
| Profit (loss) for the period to be appropriated | 9905 | €59,103 | €74,268 | +€15,164 | +25.7% |
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 15 October 2026 via checked.be.