BOELEN FERDINAND: 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.
BOELEN FERDINAND
Largest movements
- Receivables within one year -€5,436
down €5,436 (-26.0%), from €20,937 to €15,501
of which Trade receivables: -€6,741
- Tangible fixed assets -€1,863
down €1,863 (-31.1%), from €5,992 to €4,129
of which Furniture and vehicles: -€1,125
- Stocks and contracts -€1,850
down €1,850 (-10.6%), from €17,512 to €15,662
- Deferred charges and accrued income -€1,507
down €1,507 (-88.1%), from €1,710 to €203
- Other debts -€7,752
down €7,752 (-7.1%), from €109,083 to €101,331
- Current portion of long-term debt -€2,738
down €2,738 (-57.3%), from €4,782 to €2,044
- Debts after one year -€1,240
no longer reported in 2025 (was €1,240)
- Profit (loss) carried forward +€1,110
up €1,110 (+1.0%), from -€110,645 to -€109,535
- Gross operating margin +€3,124
up €3,124 (+65.5%), from €4,772 to €7,897
- Financial charges +€504
up €504 (+17.3%), from €2,907 to €3,411
- Depreciation +€188
up €188 (+11.2%), from €1,675 to €1,863
- Other operating charges -€111
down €111 (-6.8%), from €1,624 to €1,513
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 | €47,138 | €36,381 | -€10,757 | -22.8% |
| Fixed assets | 21/28 | €5,992 | €4,129 | -€1,863 | -31.1% |
| Tangible fixed assets | 22/27 | €5,992 | €4,129 | -€1,863 | -31.1% |
| Plant, machinery and equipment | 23 | €2,430 | €1,692 | -€738 | -30.4% |
| Furniture and vehicles | 24 | €3,563 | €2,438 | -€1,125 | -31.6% |
| Current assets | 29/58 | €41,146 | €32,252 | -€8,894 | -21.6% |
| Stocks and contracts in progress | 3 | €17,512 | €15,662 | -€1,850 | -10.6% |
| Stocks | 30/36 | €17,512 | €15,662 | -€1,850 | -10.6% |
| Amounts receivable within one year | 40/41 | €20,937 | €15,501 | -€5,436 | -26.0% |
| Trade receivables | 40 | €18,920 | €12,179 | -€6,741 | -35.6% |
| Other amounts receivable | 41 | €2,017 | €3,322 | +€1,305 | +64.7% |
| Cash at bank and in hand | 54/58 | €988 | €885 | -€102 | -10.3% |
| Deferred charges and accrued income | 490/1 | €1,710 | €203 | -€1,507 | -88.1% |
| Total equity and liabilities | 10/49 | €47,138 | €36,381 | -€10,757 | -22.8% |
| Equity | 10/15 | -€90,185 | -€89,075 | +€1,110 | +1.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€110,645 | -€109,535 | +€1,110 | +1.0% |
| Amounts payable | 17/49 | €137,324 | €125,456 | -€11,867 | -8.6% |
| Amounts payable after more than one year | 17 | €1,240 | - | -€1,240 | |
| Financial debts | 170/4 | €1,240 | - | -€1,240 | |
| Amounts payable within one year | 42/48 | €136,084 | €125,456 | -€10,628 | -7.8% |
| Current portion of amounts payable after more than one year | 42 | €4,782 | €2,044 | -€2,738 | -57.3% |
| Financial debts | 43 | €12,555 | €12,688 | +€133 | +1.1% |
| Credit institutions | 430/8 | €12,555 | €12,688 | +€133 | +1.1% |
| Trade debts | 44 | €5,164 | €4,893 | -€270 | -5.2% |
| Suppliers | 440/4 | €5,164 | €4,893 | -€270 | -5.2% |
| Advances received on contracts in progress | 46 | €4,500 | €4,500 | = | 0.0% |
| Other amounts payable | 47/48 | €109,083 | €101,331 | -€7,752 | -7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,675 | €1,863 | +€188 | +11.2% |
| Other operating charges | 640/8 | €1,624 | €1,513 | -€111 | -6.8% |
| Gross operating margin | 9900 | €4,772 | €7,897 | +€3,124 | +65.5% |
| Operating profit (loss) | 9901 | €1,473 | €4,521 | +€3,048 | +207% |
| Financial income | 75/76B | €51 | - | -€51 | |
| Recurring financial income | 75 | €51 | - | -€51 | |
| Financial charges | 65/66B | €2,907 | €3,411 | +€504 | +17.3% |
| Recurring financial charges | 65 | €2,907 | €3,411 | +€504 | +17.3% |
| Profit (loss) for the period before taxes | 9903 | -€1,382 | €1,110 | +€2,492 | |
| Profit (loss) for the period | 9904 | -€1,382 | €1,110 | +€2,492 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,382 | €1,110 | +€2,492 |
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 25 October 2026 via checked.be.