BOELS CONSTRUCTION: 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.
BOELS CONSTRUCTION
Largest movements
- Receivables within one year +€29,227
up €29,227 (+110%), from €26,454 to €55,680
of which Trade receivables: +€32,214
- Tangible fixed assets -€5,967
down €5,967 (-25.2%), from €23,635 to €17,667
of which Furniture and vehicles: -€5,413
- Tax, wage and social debts +€24,212
up €24,212 (+223%), from €10,869 to €35,082
of which Remuneration and social security: +€20,938
- Profit (loss) carried forward +€8,278
up €8,278 (+123%), from €6,733 to €15,011
- Current portion of long-term debt -€6,891
down €6,891 (-70.9%), from €9,718 to €2,827
- Debts after one year -€2,827
no longer reported in 2026 (was €2,827)
- Trade debts +€1,062
up €1,062 (+8.7%), from €12,282 to €13,344
of which Bills of exchange payable: +€916
- Gross operating margin +€6,436
up €6,436 (+43.8%), from €14,683 to €21,119
- Depreciation +€2,648
up €2,648 (+55.8%), from €4,748 to €7,396
- Taxes +€877
up €877 (+37.1%), from €2,362 to €3,239
- Financial charges -€397
down €397 (-22.3%), from €1,785 to €1,387
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €51,428 | €74,858 | +€23,430 | +45.6% |
| Fixed assets | 21/28 | €23,635 | €17,667 | -€5,967 | -25.2% |
| Tangible fixed assets | 22/27 | €23,635 | €17,667 | -€5,967 | -25.2% |
| Plant, machinery and equipment | 23 | €2,257 | €1,703 | -€555 | -24.6% |
| Furniture and vehicles | 24 | €21,377 | €15,964 | -€5,413 | -25.3% |
| Current assets | 29/58 | €27,794 | €57,191 | +€29,397 | +106% |
| Amounts receivable within one year | 40/41 | €26,454 | €55,680 | +€29,227 | +110% |
| Trade receivables | 40 | €15,152 | €47,366 | +€32,214 | +213% |
| Other amounts receivable | 41 | €11,302 | €8,314 | -€2,988 | -26.4% |
| Cash at bank and in hand | 54/58 | €1,340 | €1,510 | +€170 | +12.7% |
| Total equity and liabilities | 10/49 | €51,428 | €74,858 | +€23,430 | +45.6% |
| Equity | 10/15 | €8,233 | €16,511 | +€8,278 | +101% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,733 | €15,011 | +€8,278 | +123% |
| Amounts payable | 17/49 | €43,196 | €58,347 | +€15,152 | +35.1% |
| Amounts payable after more than one year | 17 | €2,827 | - | -€2,827 | |
| Financial debts | 170/4 | €2,827 | - | -€2,827 | |
| Amounts payable within one year | 42/48 | €40,369 | €58,347 | +€17,978 | +44.5% |
| Current portion of amounts payable after more than one year | 42 | €9,718 | €2,827 | -€6,891 | -70.9% |
| Trade debts | 44 | €12,282 | €13,344 | +€1,062 | +8.7% |
| Suppliers | 440/4 | €11,516 | €11,663 | +€147 | +1.3% |
| Bills of exchange payable | 441 | €765 | €1,681 | +€916 | +120% |
| Taxes, remuneration and social security | 45 | €10,869 | €35,082 | +€24,212 | +223% |
| Taxes | 450/3 | €2,362 | €5,635 | +€3,274 | +139% |
| Remuneration and social security | 454/9 | €8,508 | €29,446 | +€20,938 | +246% |
| Other amounts payable | 47/48 | €7,500 | €7,095 | -€405 | -5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,748 | €7,396 | +€2,648 | +55.8% |
| Other operating charges | 640/8 | €650 | €818 | +€167 | +25.7% |
| Gross operating margin | 9900 | €14,683 | €21,119 | +€6,436 | +43.8% |
| Operating profit (loss) | 9901 | €9,285 | €12,905 | +€3,620 | +39.0% |
| Financial charges | 65/66B | €1,785 | €1,387 | -€397 | -22.3% |
| Recurring financial charges | 65 | €1,785 | €1,387 | -€397 | -22.3% |
| Profit (loss) for the period before taxes | 9903 | €7,500 | €11,517 | +€4,017 | +53.6% |
| Income taxes | 67/77 | €2,362 | €3,239 | +€877 | +37.1% |
| Profit (loss) for the period | 9904 | €5,138 | €8,278 | +€3,140 | +61.1% |
| Profit (loss) for the period to be appropriated | 9905 | €5,138 | €8,278 | +€3,140 | +61.1% |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.