BOEF: 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.
BOEF
Largest movements
- Intangible fixed assets -€1,565
down €1,565 (-100%), from €1,565 to €0
- Cash -€1,309
down €1,309 (-23.0%), from €5,683 to €4,373
mainly Net result for the year (-€4,581) and Deferred charges and accrued income (-€463)
- Formation expenses -€604
down €604 (-83.0%), from €727 to €123
- Deferred charges and accrued income +€463
up €463, from €0 to €463
- Receivables within one year -€160
down €160 (-36.5%), from €437 to €277
of which Other amounts receivable: -€160
- Profit (loss) carried forward -€4,581
down €4,581 (-14.3%), from -€32,061 to -€36,642
- Trade debts +€1,301
up €1,301 (+275%), from €473 to €1,774
- Accrued charges and deferred income +€105
up €105, from €0 to €105
- Depreciation -€2,787
down €2,787 (-56.2%), from €4,956 to €2,169
- Gross operating margin +€1,760
up €1,760 (+48.2%), from -€3,650 to -€1,890
- Other operating charges -€447
down €447 (-49.2%), from €909 to €462
- Financial income -€52
down €52 (-100%), from €52 to €0
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 | €8,412 | €5,237 | -€3,175 | -37.7% |
| Formation expenses | 20 | €727 | €123 | -€604 | -83.0% |
| Fixed assets | 21/28 | €1,565 | €0 | -€1,565 | -100% |
| Intangible fixed assets | 21 | €1,565 | €0 | -€1,565 | -100% |
| Current assets | 29/58 | €6,119 | €5,114 | -€1,006 | -16.4% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €437 | €277 | -€160 | -36.5% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €437 | €277 | -€160 | -36.5% |
| Cash at bank and in hand | 54/58 | €5,683 | €4,373 | -€1,309 | -23.0% |
| Deferred charges and accrued income | 490/1 | €0 | €463 | +€463 | |
| Total equity and liabilities | 10/49 | €8,412 | €5,237 | -€3,175 | -37.7% |
| Equity | 10/15 | €7,939 | €3,358 | -€4,581 | -57.7% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,061 | -€36,642 | -€4,581 | -14.3% |
| Amounts payable | 17/49 | €473 | €1,879 | +€1,406 | +298% |
| Amounts payable within one year | 42/48 | €473 | €1,774 | +€1,301 | +275% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €473 | €1,774 | +€1,301 | +275% |
| Suppliers | 440/4 | €473 | €1,774 | +€1,301 | +275% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | €105 | +€105 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,956 | €2,169 | -€2,787 | -56.2% |
| Other operating charges | 640/8 | €909 | €462 | -€447 | -49.2% |
| Gross operating margin | 9900 | -€3,650 | -€1,890 | +€1,760 | +48.2% |
| Operating profit (loss) | 9901 | -€9,515 | -€4,521 | +€4,994 | +52.5% |
| Financial income | 75/76B | €52 | €0 | -€52 | -100% |
| Recurring financial income | 75 | €52 | €0 | -€52 | -100% |
| Financial charges | 65/66B | €60 | €60 | +€0 | 0.0% |
| Recurring financial charges | 65 | €60 | €60 | +€0 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€9,523 | -€4,581 | +€4,942 | +51.9% |
| Profit (loss) for the period | 9904 | -€9,523 | -€4,581 | +€4,942 | +51.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,523 | -€4,581 | +€4,942 | +51.9% |
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.