BOELTIE: 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.
BOELTIE
Largest movements
- Stocks and contracts -€59,501
down €59,501 (-62.6%), from €95,025 to €35,524
- Cash +€6,555
up €6,555 (+183.3%), from €3,576 to €10,131
mainly Stocks and contracts (+€59,501) and Depreciation (+€6,000)
- Intangible fixed assets -€6,000
down €6,000 (-38.1%), from €15,748 to €9,748
- Deferred charges and accrued income -€4,057
down €4,057 (-97.2%), from €4,176 to €119
- Receivables within one year -€3,536
down €3,536 (-15.6%), from €22,656 to €19,120
- Short-term financial debts -€30,414
no longer reported in 2025 (was €30,414)
- Trade debts -€20,706
down €20,706 (-30.3%), from €68,328 to €47,622
- Current portion of long-term debt -€11,297
down €11,297 (-70.5%), from €16,018 to €4,721
- Profit (loss) carried forward -€5,253
down €5,253 (-7.9%), from -€66,624 to -€71,878
- Tax, wage and social debts +€5,199
up €5,199 (+398.3%), from €1,306 to €6,505
- Gross operating margin +€48,858
up €48,858, from -€45,941 to €2,918
- Financial charges -€4,289
down €4,289 (-72.2%), from €5,940 to €1,651
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 | €141,181 | €74,641 | -€66,540 | -47.1% |
| Fixed assets | 21/28 | €15,748 | €9,748 | -€6,000 | -38.1% |
| Intangible fixed assets | 21 | €15,748 | €9,748 | -€6,000 | -38.1% |
| Current assets | 29/58 | €125,433 | €64,893 | -€60,540 | -48.3% |
| Stocks and contracts in progress | 3 | €95,025 | €35,524 | -€59,501 | -62.6% |
| Stocks | 30/36 | €95,025 | €35,524 | -€59,501 | -62.6% |
| Amounts receivable within one year | 40/41 | €22,656 | €19,120 | -€3,536 | -15.6% |
| Trade receivables | 40 | €22,656 | €19,120 | -€3,536 | -15.6% |
| Cash at bank and in hand | 54/58 | €3,576 | €10,131 | +€6,555 | +183.3% |
| Deferred charges and accrued income | 490/1 | €4,176 | €119 | -€4,057 | -97.2% |
| Total equity and liabilities | 10/49 | €141,181 | €74,641 | -€66,540 | -47.1% |
| Equity | 10/15 | -€59,124 | -€64,378 | -€5,253 | -8.9% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€66,624 | -€71,878 | -€5,253 | -7.9% |
| Amounts payable | 17/49 | €200,305 | €139,019 | -€61,286 | -30.6% |
| Amounts payable after more than one year | 17 | €7,966 | €3,246 | -€4,721 | -59.3% |
| Financial debts | 170/4 | €7,966 | €3,246 | -€4,721 | -59.3% |
| Amounts payable within one year | 42/48 | €192,339 | €135,773 | -€56,566 | -29.4% |
| Current portion of amounts payable after more than one year | 42 | €16,018 | €4,721 | -€11,297 | -70.5% |
| Financial debts | 43 | €30,414 | - | -€30,414 | |
| Credit institutions | 430/8 | €30,414 | - | -€30,414 | |
| Trade debts | 44 | €68,328 | €47,622 | -€20,706 | -30.3% |
| Suppliers | 440/4 | €68,328 | €47,622 | -€20,706 | -30.3% |
| Taxes, remuneration and social security | 45 | €1,306 | €6,505 | +€5,199 | +398.3% |
| Taxes | 450/3 | €1,306 | €6,505 | +€5,199 | +398.3% |
| Other amounts payable | 47/48 | €76,274 | €76,926 | +€652 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,000 | €6,000 | = | 0.0% |
| Other operating charges | 640/8 | €118 | €520 | +€402 | +340.4% |
| Gross operating margin | 9900 | -€45,941 | €2,918 | +€48,858 | |
| Operating profit (loss) | 9901 | -€52,059 | -€3,602 | +€48,456 | +93.1% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €5,940 | €1,651 | -€4,289 | -72.2% |
| Recurring financial charges | 65 | €5,940 | €1,651 | -€4,289 | -72.2% |
| Profit (loss) for the period before taxes | 9903 | -€57,999 | -€5,253 | +€52,746 | +90.9% |
| Profit (loss) for the period | 9904 | -€57,999 | -€5,253 | +€52,746 | +90.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€57,999 | -€5,253 | +€52,746 | +90.9% |
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 12 October 2026 via checked.be.