Boatmen: 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.
Boatmen
Largest movements
- Receivables within one year -€44,130
down €44,130 (-97.0%), from €45,482 to €1,352
of which Trade receivables: -€33,015
- Cash -€36,324
down €36,324 (-39.6%), from €91,782 to €55,458
mainly Other debts (-€82,095) and Net result for the year (-€12,482)
- Tangible fixed assets -€27,253
down €27,253 (-35.5%), from €76,706 to €49,453
of which Plant, machinery and equipment: -€15,700
- Other debts -€82,095
down €82,095 (-96.6%), from €85,000 to €2,905
- Profit (loss) carried forward -€12,482
down €12,482 (-14.7%), from €84,801 to €72,319
- Trade debts -€11,546
down €11,546 (-95.6%), from €12,076 to €530
- Gross operating margin -€104,991
down €104,991 (-84.9%), from €123,681 to €18,690
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 | €214,320 | €106,613 | -€107,707 | -50.3% |
| Fixed assets | 21/28 | €77,056 | €49,803 | -€27,253 | -35.4% |
| Tangible fixed assets | 22/27 | €76,706 | €49,453 | -€27,253 | -35.5% |
| Plant, machinery and equipment | 23 | €34,269 | €18,568 | -€15,700 | -45.8% |
| Furniture and vehicles | 24 | €42,437 | €30,885 | -€11,552 | -27.2% |
| Financial fixed assets | 28 | €350 | €350 | = | 0.0% |
| Current assets | 29/58 | €137,264 | €56,810 | -€80,455 | -58.6% |
| Amounts receivable within one year | 40/41 | €45,482 | €1,352 | -€44,130 | -97.0% |
| Trade receivables | 40 | €33,921 | €906 | -€33,015 | -97.3% |
| Other amounts receivable | 41 | €11,561 | €446 | -€11,115 | -96.1% |
| Cash at bank and in hand | 54/58 | €91,782 | €55,458 | -€36,324 | -39.6% |
| Total equity and liabilities | 10/49 | €214,320 | €106,613 | -€107,707 | -50.3% |
| Equity | 10/15 | €115,261 | €102,779 | -€12,482 | -10.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €11,860 | €11,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €84,801 | €72,319 | -€12,482 | -14.7% |
| Amounts payable | 17/49 | €99,060 | €3,834 | -€95,226 | -96.1% |
| Amounts payable within one year | 42/48 | €98,166 | €3,834 | -€94,331 | -96.1% |
| Financial debts | 43 | €1 | €45 | +€45 | +8012.5% |
| Credit institutions | 430/8 | €1 | €45 | +€45 | +8012.5% |
| Trade debts | 44 | €12,076 | €530 | -€11,546 | -95.6% |
| Suppliers | 440/4 | €12,076 | €530 | -€11,546 | -95.6% |
| Taxes, remuneration and social security | 45 | €1,088 | €353 | -€735 | -67.5% |
| Taxes | 450/3 | €1,088 | €353 | -€735 | -67.5% |
| Other amounts payable | 47/48 | €85,000 | €2,905 | -€82,095 | -96.6% |
| Accrued charges and deferred income | 492/3 | €894 | - | -€894 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,124 | €30,181 | +€1,058 | +3.6% |
| Other operating charges | 640/8 | €488 | €550 | +€62 | +12.7% |
| Gross operating margin | 9900 | €123,681 | €18,690 | -€104,991 | -84.9% |
| Operating profit (loss) | 9901 | €94,070 | -€12,041 | -€106,111 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €214 | €271 | +€57 | +26.8% |
| Recurring financial charges | 65 | €214 | €271 | +€57 | +26.8% |
| Profit (loss) for the period before taxes | 9903 | €93,856 | -€12,313 | -€106,168 | |
| Income taxes | 67/77 | €184 | €169 | -€15 | -8.1% |
| Profit (loss) for the period | 9904 | €93,671 | -€12,482 | -€106,153 | |
| Profit (loss) for the period to be appropriated | 9905 | €93,671 | -€12,482 | -€106,153 |
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 4 October 2026 via checked.be.