BOERES: 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.
BOERES
Largest movements
- Cash -€17,873
down €17,873 (-48.0%), from €37,251 to €19,378
mainly Tax, wage and social debts (-€17,784) and Investment in fixed assets (net) (-€16,640)
- Tangible fixed assets -€15,637
down €15,637 (-8.9%), from €176,558 to €160,921
of which Furniture and vehicles: -€16,979
- Receivables within one year +€11,081
up €11,081 (+205%), from €5,401 to €16,482
of which Trade receivables: +€9,089
- Tax, wage and social debts -€17,784
down €17,784 (-81.4%), from €21,853 to €4,068
of which Taxes: -€9,323
- Debts after one year -€11,749
down €11,749 (-34.7%), from €33,839 to €22,089
- Trade debts +€6,839
up €6,839 (+24.5%), from €27,962 to €34,801
- Current portion of long-term debt -€2,953
down €2,953 (-20.1%), from €14,702 to €11,749
- Profit (loss) carried forward +€2,787
up €2,787 (+7.3%), from -€38,062 to -€35,276
- Staff costs -€44,599
down €44,599 (-13.6%), from €328,622 to €284,023
- Gross operating margin -€34,228
down €34,228 (-9.4%), from €364,095 to €329,868
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 | €249,147 | €226,197 | -€22,950 | -9.2% |
| Fixed assets | 21/28 | €176,558 | €160,921 | -€15,637 | -8.9% |
| Tangible fixed assets | 22/27 | €176,558 | €160,921 | -€15,637 | -8.9% |
| Land and buildings | 22 | €78,593 | €71,766 | -€6,826 | -8.7% |
| Plant, machinery and equipment | 23 | €29,064 | €37,232 | +€8,168 | +28.1% |
| Furniture and vehicles | 24 | €68,902 | €51,923 | -€16,979 | -24.6% |
| Current assets | 29/58 | €72,589 | €65,276 | -€7,313 | -10.1% |
| Stocks and contracts in progress | 3 | €26,200 | €24,500 | -€1,700 | -6.5% |
| Stocks | 30/36 | €26,200 | €24,500 | -€1,700 | -6.5% |
| Amounts receivable within one year | 40/41 | €5,401 | €16,482 | +€11,081 | +205% |
| Trade receivables | 40 | €0 | €9,089 | +€9,089 | |
| Other amounts receivable | 41 | €5,401 | €7,393 | +€1,992 | +36.9% |
| Cash at bank and in hand | 54/58 | €37,251 | €19,378 | -€17,873 | -48.0% |
| Deferred charges and accrued income | 490/1 | €3,736 | €4,916 | +€1,179 | +31.6% |
| Total equity and liabilities | 10/49 | €249,147 | €226,197 | -€22,950 | -9.2% |
| Equity | 10/15 | €101,068 | €103,855 | +€2,787 | +2.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €119,130 | €119,130 | = | 0.0% |
| Distributable reserves | 133 | €119,130 | €119,130 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,062 | -€35,276 | +€2,787 | +7.3% |
| Amounts payable | 17/49 | €148,079 | €122,342 | -€25,736 | -17.4% |
| Amounts payable after more than one year | 17 | €33,839 | €22,089 | -€11,749 | -34.7% |
| Financial debts | 170/4 | €33,839 | €22,089 | -€11,749 | -34.7% |
| Amounts payable within one year | 42/48 | €114,240 | €100,253 | -€13,987 | -12.2% |
| Current portion of amounts payable after more than one year | 42 | €14,702 | €11,749 | -€2,953 | -20.1% |
| Trade debts | 44 | €27,962 | €34,801 | +€6,839 | +24.5% |
| Suppliers | 440/4 | €27,962 | €34,801 | +€6,839 | +24.5% |
| Advances received on contracts in progress | 46 | €10,048 | €11,223 | +€1,175 | +11.7% |
| Taxes, remuneration and social security | 45 | €21,853 | €4,068 | -€17,784 | -81.4% |
| Taxes | 450/3 | €10,954 | €1,631 | -€9,323 | -85.1% |
| Remuneration and social security | 454/9 | €10,899 | €2,437 | -€8,461 | -77.6% |
| Other amounts payable | 47/48 | €39,676 | €38,412 | -€1,264 | -3.2% |
| Non-recurring operating income | 76A | €6,648 | €944 | -€5,704 | -85.8% |
| Remuneration, social security and pensions | 62 | €328,622 | €284,023 | -€44,599 | -13.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,461 | €32,277 | -€3,184 | -9.0% |
| Other operating charges | 640/8 | €3,205 | €3,492 | +€287 | +9.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €364,095 | €329,868 | -€34,228 | -9.4% |
| Operating profit (loss) | 9901 | -€3,193 | €10,075 | +€13,268 | |
| Financial income | 75/76B | €152 | €0 | -€152 | -100% |
| Recurring financial income | 75 | €152 | €0 | -€152 | -100% |
| Financial charges | 65/66B | €6,152 | €7,145 | +€993 | +16.1% |
| Recurring financial charges | 65 | €6,152 | €7,145 | +€993 | +16.1% |
| Profit (loss) for the period before taxes | 9903 | -€9,193 | €2,931 | +€12,123 | |
| Income taxes | 67/77 | €1,100 | €144 | -€956 | -86.9% |
| Profit (loss) for the period | 9904 | -€10,293 | €2,787 | +€13,080 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,293 | €2,787 | +€13,080 |
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.