BOENAERDE: 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.
BOENAERDE
Largest movements
- Current investments +€21,023
new in 2025: €21,023
- Cash -€14,558
down €14,558 (-92.9%), from €15,672 to €1,115
mainly Investment in fixed assets (net) (-€39,862) and Debts after one year (-€34,920)
- Tangible fixed assets +€13,566
up €13,566 (+4.3%), from €317,379 to €330,945
of which Land and buildings: +€20,679
- Receivables within one year +€5,625
up €5,625 (+154.9%), from €3,630 to €9,255
of which Other amounts receivable: +€6,053
- Other debts +€58,803
up €58,803 (+280.0%), from €21,001 to €79,804
- Debts after one year -€34,920
down €34,920 (-17.7%), from €197,188 to €162,268
- Financial charges +€3,796
up €3,796 (+236.9%), from €1,603 to €5,399
- Gross operating margin -€2,120
down €2,120 (-5.3%), from €39,875 to €37,756
- Taxes -€1,860
down €1,860 (-32.0%), from €5,817 to €3,958
- Financial income +€1,782
up €1,782 (+2785.1%), from €64 to €1,846
- Staff costs +€899
new in 2025: €899
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 | €430,639 | €455,563 | +€24,923 | +5.8% |
| Fixed assets | 21/28 | €317,379 | €330,945 | +€13,566 | +4.3% |
| Tangible fixed assets | 22/27 | €317,379 | €330,945 | +€13,566 | +4.3% |
| Land and buildings | 22 | €291,611 | €312,290 | +€20,679 | +7.1% |
| Plant, machinery and equipment | 23 | €14,723 | €11,410 | -€3,314 | -22.5% |
| Furniture and vehicles | 24 | €11,046 | €7,246 | -€3,800 | -34.4% |
| Current assets | 29/58 | €113,260 | €124,617 | +€11,357 | +10.0% |
| Amounts receivable after more than one year | 29 | €91,260 | €91,260 | = | 0.0% |
| Other amounts receivable | 291 | €91,260 | €91,260 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €3,630 | €9,255 | +€5,625 | +154.9% |
| Trade receivables | 40 | €428 | - | -€428 | |
| Other amounts receivable | 41 | €3,202 | €9,255 | +€6,053 | +189.1% |
| Current investments | 50/53 | - | €21,023 | +€21,023 | |
| Cash at bank and in hand | 54/58 | €15,672 | €1,115 | -€14,558 | -92.9% |
| Deferred charges and accrued income | 490/1 | €2,697 | €1,965 | -€732 | -27.1% |
| Total equity and liabilities | 10/49 | €430,639 | €455,563 | +€24,923 | +5.8% |
| Equity | 10/15 | €164,471 | €166,111 | +€1,639 | +1.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €152,071 | €153,711 | +€1,639 | +1.1% |
| Distributable reserves | 133 | €152,071 | €153,711 | +€1,639 | +1.1% |
| Amounts payable | 17/49 | €266,168 | €289,452 | +€23,284 | +8.7% |
| Amounts payable after more than one year | 17 | €197,188 | €162,268 | -€34,920 | -17.7% |
| Financial debts | 170/4 | €197,188 | €162,268 | -€34,920 | -17.7% |
| Amounts payable within one year | 42/48 | €68,980 | €123,675 | +€54,694 | +79.3% |
| Current portion of amounts payable after more than one year | 42 | €34,335 | €34,920 | +€586 | +1.7% |
| Financial debts | 43 | - | €472 | +€472 | |
| Credit institutions | 430/8 | - | €472 | +€472 | |
| Trade debts | 44 | €2,640 | €838 | -€1,803 | -68.3% |
| Suppliers | 440/4 | €2,640 | €838 | -€1,803 | -68.3% |
| Taxes, remuneration and social security | 45 | €11,004 | €7,640 | -€3,364 | -30.6% |
| Taxes | 450/3 | €11,004 | €7,640 | -€3,364 | -30.6% |
| Other amounts payable | 47/48 | €21,001 | €79,804 | +€58,803 | +280.0% |
| Accrued charges and deferred income | 492/3 | - | €3,510 | +€3,510 | |
| Remuneration, social security and pensions | 62 | - | €899 | +€899 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,526 | €26,296 | +€770 | +3.0% |
| Other operating charges | 640/8 | €1,173 | €988 | -€185 | -15.8% |
| Non-recurring operating charges | 66A | - | €423 | +€423 | |
| Gross operating margin | 9900 | €39,875 | €37,756 | -€2,120 | -5.3% |
| Operating profit (loss) | 9901 | €13,176 | €9,150 | -€4,026 | -30.6% |
| Financial income | 75/76B | €64 | €1,846 | +€1,782 | +2785.1% |
| Recurring financial income | 75 | €64 | €1,846 | +€1,782 | +2785.1% |
| Financial charges | 65/66B | €1,603 | €5,399 | +€3,796 | +236.9% |
| Recurring financial charges | 65 | €1,603 | €5,399 | +€3,796 | +236.9% |
| Profit (loss) for the period before taxes | 9903 | €11,637 | €5,597 | -€6,040 | -51.9% |
| Income taxes | 67/77 | €5,817 | €3,958 | -€1,860 | -32.0% |
| Profit (loss) for the period | 9904 | €5,820 | €1,639 | -€4,181 | -71.8% |
| Profit (loss) for the period to be appropriated | 9905 | €5,820 | €1,639 | -€4,181 | -71.8% |
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.