Balboa Projects: what changed
Balboa Projects
Largest movements
- Cash -€1,054
down €1,054 (-21.9%), from €4,821 to €3,767
mainly Trade debts (-€2,130) and Receivables within one year (-€532)
- Receivables within one year +€532
up €532 (+59.8%), from €889 to €1,421
of which Trade receivables: +€500
- Tangible fixed assets -€480
down €480 (-50.0%), from €959 to €480
- Trade debts -€2,130
down €2,130 (-94.7%), from €2,250 to €120
- Accrued charges and deferred income +€605
new in 2025: €605
- Profit (loss) carried forward +€523
up €523 (+3.9%), from -€13,580 to -€13,057
- Gross operating margin +€7,608
up €7,608, from -€5,963 to €1,645
- Other operating charges +€402
up €402 (+340%), from €118 to €520
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,670 | €5,668 | -€1,002 | -15.0% |
| Fixed assets | 21/28 | €959 | €480 | -€480 | -50.0% |
| Tangible fixed assets | 22/27 | €959 | €480 | -€480 | -50.0% |
| Furniture and vehicles | 24 | €959 | €480 | -€480 | -50.0% |
| Current assets | 29/58 | €5,711 | €5,189 | -€522 | -9.1% |
| Amounts receivable within one year | 40/41 | €889 | €1,421 | +€532 | +59.8% |
| Trade receivables | 40 | - | €500 | +€500 | |
| Other amounts receivable | 41 | €889 | €921 | +€32 | +3.6% |
| Cash at bank and in hand | 54/58 | €4,821 | €3,767 | -€1,054 | -21.9% |
| Total equity and liabilities | 10/49 | €6,670 | €5,668 | -€1,002 | -15.0% |
| Equity | 10/15 | €4,420 | €4,943 | +€523 | +11.8% |
| Contributions | 10/11 | €18,000 | €18,000 | = | 0.0% |
| Capital | 10 | €18,000 | - | -€18,000 | |
| Issued capital | 100 | €18,000 | - | -€18,000 | |
| Profit (loss) carried forward | 14 | -€13,580 | -€13,057 | +€523 | +3.9% |
| Amounts payable | 17/49 | €2,250 | €725 | -€1,525 | -67.8% |
| Amounts payable within one year | 42/48 | €2,250 | €120 | -€2,130 | -94.7% |
| Trade debts | 44 | €2,250 | €120 | -€2,130 | -94.7% |
| Suppliers | 440/4 | €2,250 | €120 | -€2,130 | -94.7% |
| Accrued charges and deferred income | 492/3 | - | €605 | +€605 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €480 | €480 | = | 0.0% |
| Other operating charges | 640/8 | €118 | €520 | +€402 | +340% |
| Gross operating margin | 9900 | -€5,963 | €1,645 | +€7,608 | |
| Operating profit (loss) | 9901 | -€6,561 | €646 | +€7,207 | |
| Financial income | 75/76B | - | €6 | +€6 | |
| Recurring financial income | 75 | - | €6 | +€6 | |
| Financial charges | 65/66B | €130 | €128 | -€2 | -1.4% |
| Recurring financial charges | 65 | €130 | €128 | -€2 | -1.4% |
| Profit (loss) for the period before taxes | 9903 | -€6,691 | €523 | +€7,215 | |
| Profit (loss) for the period | 9904 | -€6,691 | €523 | +€7,215 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,691 | €523 | +€7,215 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.