BOEF: 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.
BOEF
Largest movements
- Cash +€24,906
up €24,906 (+41.5%), from €60,084 to €84,989
mainly Receivables within one year (+€12,550) and Net result for the year (+€9,150)
- Receivables within one year -€12,550
down €12,550 (-66.8%), from €18,787 to €6,237
of which Trade receivables: -€7,507
- Tangible fixed assets -€1,021
down €1,021 (-19.9%), from €5,140 to €4,119
of which Furniture and vehicles: -€900
- Profit (loss) carried forward +€9,150
up €9,150 (+21.9%), from €41,799 to €50,949
- Trade debts +€5,244
up €5,244 (+1036.2%), from €506 to €5,750
- Accrued charges and deferred income -€3,184
down €3,184 (-57.6%), from €5,523 to €2,340
- Current portion of long-term debt +€2,356
new in 2025: €2,356
- Tax, wage and social debts -€1,603
down €1,603 (-7.5%), from €21,511 to €19,908
of which Taxes: -€2,237
- Gross operating margin -€41,679
down €41,679 (-27.9%), from €149,210 to €107,531
- Staff costs -€15,248
down €15,248 (-14.5%), from €105,364 to €90,116
- Financial charges +€2,018
up €2,018 (+328.0%), from €615 to €2,634
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 | €84,285 | €95,646 | +€11,361 | +13.5% |
| Fixed assets | 21/28 | €5,140 | €4,119 | -€1,021 | -19.9% |
| Tangible fixed assets | 22/27 | €5,140 | €4,119 | -€1,021 | -19.9% |
| Land and buildings | 22 | €1,330 | €1,161 | -€169 | -12.7% |
| Plant, machinery and equipment | 23 | €1,530 | €1,578 | +€48 | +3.1% |
| Furniture and vehicles | 24 | €2,280 | €1,380 | -€900 | -39.5% |
| Current assets | 29/58 | €79,145 | €91,527 | +€12,382 | +15.6% |
| Amounts receivable within one year | 40/41 | €18,787 | €6,237 | -€12,550 | -66.8% |
| Trade receivables | 40 | €7,742 | €235 | -€7,507 | -97.0% |
| Other amounts receivable | 41 | €11,045 | €6,002 | -€5,043 | -45.7% |
| Cash at bank and in hand | 54/58 | €60,084 | €84,989 | +€24,906 | +41.5% |
| Deferred charges and accrued income | 490/1 | €274 | €301 | +€27 | +9.8% |
| Total equity and liabilities | 10/49 | €84,285 | €95,646 | +€11,361 | +13.5% |
| Equity | 10/15 | €55,799 | €64,949 | +€9,150 | +16.4% |
| Contributions | 10/11 | €14,000 | €14,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €41,799 | €50,949 | +€9,150 | +21.9% |
| Amounts payable | 17/49 | €28,486 | €30,697 | +€2,211 | +7.8% |
| Amounts payable within one year | 42/48 | €22,963 | €28,357 | +€5,394 | +23.5% |
| Current portion of amounts payable after more than one year | 42 | - | €2,356 | +€2,356 | |
| Trade debts | 44 | €506 | €5,750 | +€5,244 | +1036.2% |
| Suppliers | 440/4 | €506 | €5,750 | +€5,244 | +1036.2% |
| Taxes, remuneration and social security | 45 | €21,511 | €19,908 | -€1,603 | -7.5% |
| Taxes | 450/3 | €14,488 | €12,252 | -€2,237 | -15.4% |
| Remuneration and social security | 454/9 | €7,023 | €7,656 | +€633 | +9.0% |
| Other amounts payable | 47/48 | €945 | €344 | -€602 | -63.7% |
| Accrued charges and deferred income | 492/3 | €5,523 | €2,340 | -€3,184 | -57.6% |
| Non-recurring operating income | 76A | €1,240 | €487 | -€753 | -60.7% |
| Remuneration, social security and pensions | 62 | €105,364 | €90,116 | -€15,248 | -14.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,119 | €1,745 | -€374 | -17.6% |
| Other operating charges | 640/8 | €2,160 | €1,163 | -€997 | -46.2% |
| Gross operating margin | 9900 | €149,210 | €107,531 | -€41,679 | -27.9% |
| Operating profit (loss) | 9901 | €39,567 | €14,507 | -€25,060 | -63.3% |
| Financial income | 75/76B | €88 | €59 | -€29 | -33.2% |
| Recurring financial income | 75 | €88 | €59 | -€29 | -33.2% |
| Financial charges | 65/66B | €615 | €2,634 | +€2,018 | +328.0% |
| Recurring financial charges | 65 | €615 | €2,634 | +€2,018 | +328.0% |
| Profit (loss) for the period before taxes | 9903 | €39,040 | €11,932 | -€27,108 | -69.4% |
| Income taxes | 67/77 | €3,842 | €2,782 | -€1,060 | -27.6% |
| Profit (loss) for the period | 9904 | €35,198 | €9,150 | -€26,048 | -74.0% |
| Profit (loss) for the period to be appropriated | 9905 | €35,198 | €9,150 | -€26,048 | -74.0% |
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 3 October 2026 via checked.be.