BOEL: 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.
BOEL
Largest movements
- Tangible fixed assets +€890,501
up €890,501 (+50.8%), from €1.8m to €2.6m
- Receivables within one year +€408,745
up €408,745 (+28.3%), from €1.4m to €1.9m
of which Other amounts receivable: +€258,745
- Cash -€146,599
down €146,599 (-35.2%), from €416,577 to €269,978
mainly Investment in fixed assets (net) (-€962,674) and Receivables within one year (-€408,745)
- Reserves +€1.1m
up €1.1m (+35.9%), from €3.0m to €4.1m
of which Tax-exempt reserves: +€1.1m
- Provisions +€352,198
up €352,198 (+35.6%), from €989,100 to €1.3m
- Profit (loss) carried forward -€277,766
down €277,766 (-55.6%), from -€499,461 to -€777,227
- Gross operating margin -€525,663
down €525,663 (-28.8%), from €1.8m to €1.3m
- Other operating charges +€59,006
up €59,006 (+583.5%), from €10,112 to €69,118
- Depreciation +€35,080
up €35,080 (+94.6%), from €37,093 to €72,173
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,615,529 | €4,768,175 | +€1.2m | +31.9% |
| Fixed assets | 21/28 | €1,752,236 | €2,642,736 | +€890,501 | +50.8% |
| Tangible fixed assets | 22/27 | €1,752,236 | €2,642,736 | +€890,501 | +50.8% |
| Land and buildings | 22 | €1,752,236 | €2,642,736 | +€890,501 | +50.8% |
| Current assets | 29/58 | €1,863,293 | €2,125,439 | +€262,146 | +14.1% |
| Stocks and contracts in progress | 3 | €130 | €130 | = | 0.0% |
| Stocks | 30/36 | €130 | €130 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,446,586 | €1,855,331 | +€408,745 | +28.3% |
| Trade receivables | 40 | - | €150,000 | +€150,000 | |
| Other amounts receivable | 41 | €1,446,586 | €1,705,331 | +€258,745 | +17.9% |
| Cash at bank and in hand | 54/58 | €416,577 | €269,978 | -€146,599 | -35.2% |
| Total equity and liabilities | 10/49 | €3,615,529 | €4,768,175 | +€1.2m | +31.9% |
| Equity | 10/15 | €2,537,771 | €3,343,123 | +€805,351 | +31.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €3,018,640 | €4,101,757 | +€1.1m | +35.9% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,334,185 | €3,417,303 | +€1.1m | +46.4% |
| Distributable reserves | 133 | €682,596 | €682,596 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€499,461 | -€777,227 | -€277,766 | -55.6% |
| Provisions and deferred taxes | 16 | €989,100 | €1,341,298 | +€352,198 | +35.6% |
| Deferred taxes | 168 | €989,100 | €1,341,298 | +€352,198 | +35.6% |
| Amounts payable | 17/49 | €88,657 | €83,755 | -€4,903 | -5.5% |
| Amounts payable within one year | 42/48 | €88,657 | €83,755 | -€4,903 | -5.5% |
| Current portion of amounts payable after more than one year | 42 | €82,113 | €62,439 | -€19,674 | -24.0% |
| Trade debts | 44 | €6,544 | €21,316 | +€14,772 | +225.7% |
| Suppliers | 440/4 | €6,544 | €21,316 | +€14,772 | +225.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,093 | €72,173 | +€35,080 | +94.6% |
| Other operating charges | 640/8 | €10,112 | €69,118 | +€59,006 | +583.5% |
| Gross operating margin | 9900 | €1,825,135 | €1,299,472 | -€525,663 | -28.8% |
| Operating profit (loss) | 9901 | €1,777,930 | €1,158,182 | -€619,749 | -34.9% |
| Financial income | 75/76B | €232 | - | -€232 | |
| Recurring financial income | 75 | €232 | - | -€232 | |
| Financial charges | 65/66B | €8,585 | €632 | -€7,953 | -92.6% |
| Recurring financial charges | 65 | €8,585 | €632 | -€7,953 | -92.6% |
| Profit (loss) for the period before taxes | 9903 | €1,769,577 | €1,157,549 | -€612,028 | -34.6% |
| Transfer from deferred taxes | 780 | €779 | €9,786 | +€9,007 | +1156.7% |
| Income taxes | 67/77 | €6,859 | - | -€6,859 | |
| Profit (loss) for the period | 9904 | €1,763,496 | €1,167,335 | -€596,162 | -33.8% |
| Transfer from tax-exempt reserves | 789 | €1,817 | €22,833 | +€21,016 | +1156.7% |
| Transfer to tax-exempt reserves | 689 | €2,056,136 | €1,467,934 | -€588,203 | -28.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€290,823 | -€277,766 | +€13,057 | +4.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2023 and 31 March 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.