BOES: 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.
BOES
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Reserves +€404,154
up €404,154 (+17.2%), from €2.4m to €2.8m
of which Distributable reserves: +€404,154
- Other debts -€298,038
down €298,038 (-97.7%), from €305,174 to €7,136
- Debts after one year -€49,706
no longer reported in 2025 (was €49,706)
- Current portion of long-term debt -€35,113
down €35,113 (-35.7%), from €98,300 to €63,187
- Financial income +€383,038
up €383,038 (+149.3%), from €256,500 to €639,538
- Taxes -€11,975
down €11,975 (-25.2%), from €47,588 to €35,613
- Gross operating margin -€8,419
down €8,419 (-5.5%), from €154,131 to €145,711
- Financial charges -€2,257
down €2,257 (-27.5%), from €8,212 to €5,954
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 | €2,855,582 | €2,874,990 | +€19,408 | +0.7% |
| Fixed assets | 21/28 | €2,234,172 | €2,228,696 | -€5,476 | -0.2% |
| Tangible fixed assets | 22/27 | €34,172 | €28,696 | -€5,476 | -16.0% |
| Furniture and vehicles | 24 | €34,172 | €28,696 | -€5,476 | -16.0% |
| Financial fixed assets | 28 | €2,200,000 | €2,200,000 | = | 0.0% |
| Current assets | 29/58 | €621,410 | €646,294 | +€24,883 | +4.0% |
| Amounts receivable after more than one year | 29 | €575,000 | €575,000 | = | 0.0% |
| Other amounts receivable | 291 | €575,000 | €575,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €34,188 | €38,574 | +€4,387 | +12.8% |
| Trade receivables | 40 | €34,188 | €34,188 | = | 0.0% |
| Other amounts receivable | 41 | - | €4,387 | +€4,387 | |
| Cash at bank and in hand | 54/58 | €12,223 | €32,719 | +€20,497 | +167.7% |
| Total equity and liabilities | 10/49 | €2,855,582 | €2,874,990 | +€19,408 | +0.7% |
| Equity | 10/15 | €2,373,893 | €2,778,047 | +€404,154 | +17.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,353,893 | €2,758,047 | +€404,154 | +17.2% |
| Non-distributable reserves | 130/1 | €575,000 | €575,000 | = | 0.0% |
| Financial assistance | 1313 | €575,000 | €575,000 | = | 0.0% |
| Distributable reserves | 133 | €1,778,893 | €2,183,047 | +€404,154 | +22.7% |
| Amounts payable | 17/49 | €481,689 | €96,943 | -€384,746 | -79.9% |
| Amounts payable after more than one year | 17 | €49,706 | - | -€49,706 | |
| Financial debts | 170/4 | €49,706 | - | -€49,706 | |
| Amounts payable within one year | 42/48 | €426,038 | €92,501 | -€333,537 | -78.3% |
| Current portion of amounts payable after more than one year | 42 | €98,300 | €63,187 | -€35,113 | -35.7% |
| Trade debts | 44 | €7,897 | €7,311 | -€586 | -7.4% |
| Suppliers | 440/4 | €7,897 | €7,311 | -€586 | -7.4% |
| Taxes, remuneration and social security | 45 | €14,667 | €14,867 | +€200 | +1.4% |
| Taxes | 450/3 | €11,367 | €11,567 | +€200 | +1.8% |
| Remuneration and social security | 454/9 | €3,300 | €3,300 | = | 0.0% |
| Other amounts payable | 47/48 | €305,174 | €7,136 | -€298,038 | -97.7% |
| Accrued charges and deferred income | 492/3 | €5,945 | €4,442 | -€1,503 | -25.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,252 | €9,402 | +€1,150 | +13.9% |
| Other operating charges | 640/8 | €62 | €125 | +€63 | +102.3% |
| Gross operating margin | 9900 | €154,131 | €145,711 | -€8,419 | -5.5% |
| Operating profit (loss) | 9901 | €145,816 | €136,184 | -€9,632 | -6.6% |
| Financial income | 75/76B | €256,500 | €639,538 | +€383,038 | +149.3% |
| Recurring financial income | 75 | €256,500 | €639,538 | +€383,038 | +149.3% |
| Financial charges | 65/66B | €8,212 | €5,954 | -€2,257 | -27.5% |
| Recurring financial charges | 65 | €8,212 | €5,954 | -€2,257 | -27.5% |
| Profit (loss) for the period before taxes | 9903 | €394,105 | €769,767 | +€375,663 | +95.3% |
| Income taxes | 67/77 | €47,588 | €35,613 | -€11,975 | -25.2% |
| Profit (loss) for the period | 9904 | €346,517 | €734,154 | +€387,637 | +111.9% |
| Profit (loss) for the period to be appropriated | 9905 | €346,517 | €734,154 | +€387,637 | +111.9% |
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.