BOEXSTAENS: 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.
BOEXSTAENS
Largest movements
- Stocks and contracts +€125,710
up €125,710 (+24.9%), from €504,231 to €629,941
- Receivables within one year -€27,040
down €27,040 (-24.4%), from €110,853 to €83,813
of which Trade receivables: -€27,040
- Tangible fixed assets -€16,845
down €16,845 (-20.6%), from €81,687 to €64,841
of which Plant, machinery and equipment: -€29,116
- Other debts +€65,927
up €65,927 (+109%), from €60,403 to €126,330
- Reserves +€62,996
up €62,996 (+17.9%), from €351,507 to €414,503
- Debts after one year -€25,661
down €25,661 (-47.4%), from €54,083 to €28,422
- Trade debts -€17,082
down €17,082 (-10.7%), from €159,415 to €142,333
- Tax, wage and social debts -€10,121
down €10,121 (-20.7%), from €48,951 to €38,830
of which Taxes: -€9,102
- Gross operating margin +€29,594
up €29,594 (+11.4%), from €259,250 to €288,844
- Staff costs +€10,974
up €10,974 (+7.2%), from €151,722 to €162,696
- Taxes +€5,498
up €5,498 (+28.1%), from €19,545 to €25,043
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 | €720,525 | €794,679 | +€74,154 | +10.3% |
| Fixed assets | 21/28 | €84,287 | €66,042 | -€18,245 | -21.6% |
| Intangible fixed assets | 21 | €2,601 | €1,201 | -€1,400 | -53.8% |
| Tangible fixed assets | 22/27 | €81,687 | €64,841 | -€16,845 | -20.6% |
| Plant, machinery and equipment | 23 | €81,687 | €52,570 | -€29,116 | -35.6% |
| Furniture and vehicles | 24 | - | €12,271 | +€12,271 | |
| Current assets | 29/58 | €636,238 | €728,637 | +€92,399 | +14.5% |
| Stocks and contracts in progress | 3 | €504,231 | €629,941 | +€125,710 | +24.9% |
| Stocks | 30/36 | €504,231 | €629,941 | +€125,710 | +24.9% |
| Amounts receivable within one year | 40/41 | €110,853 | €83,813 | -€27,040 | -24.4% |
| Trade receivables | 40 | €110,202 | €83,162 | -€27,040 | -24.5% |
| Other amounts receivable | 41 | €651 | €651 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €21,154 | €14,261 | -€6,894 | -32.6% |
| Deferred charges and accrued income | 490/1 | €0 | €623 | +€622 | +194,438% |
| Total equity and liabilities | 10/49 | €720,525 | €794,679 | +€74,154 | +10.3% |
| Equity | 10/15 | €370,107 | €433,103 | +€62,996 | +17.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €351,507 | €414,503 | +€62,996 | +17.9% |
| Distributable reserves | 133 | €351,507 | €414,503 | +€62,996 | +17.9% |
| Amounts payable | 17/49 | €350,419 | €361,576 | +€11,157 | +3.2% |
| Amounts payable after more than one year | 17 | €54,083 | €28,422 | -€25,661 | -47.4% |
| Financial debts | 170/4 | €54,083 | €28,422 | -€25,661 | -47.4% |
| Amounts payable within one year | 42/48 | €296,335 | €333,154 | +€36,818 | +12.4% |
| Current portion of amounts payable after more than one year | 42 | €27,566 | €25,661 | -€1,906 | -6.9% |
| Trade debts | 44 | €159,415 | €142,333 | -€17,082 | -10.7% |
| Suppliers | 440/4 | €159,415 | €142,333 | -€17,082 | -10.7% |
| Taxes, remuneration and social security | 45 | €48,951 | €38,830 | -€10,121 | -20.7% |
| Taxes | 450/3 | €31,770 | €22,668 | -€9,102 | -28.6% |
| Remuneration and social security | 454/9 | €17,180 | €16,162 | -€1,019 | -5.9% |
| Other amounts payable | 47/48 | €60,403 | €126,330 | +€65,927 | +109% |
| Non-recurring operating income | 76A | €392 | €8,205 | +€7,814 | +1,995% |
| Remuneration, social security and pensions | 62 | €151,722 | €162,696 | +€10,974 | +7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,892 | €32,137 | -€755 | -2.3% |
| Other operating charges | 640/8 | €1,332 | €2,564 | +€1,232 | +92.5% |
| Gross operating margin | 9900 | €259,250 | €288,844 | +€29,594 | +11.4% |
| Operating profit (loss) | 9901 | €73,304 | €91,446 | +€18,143 | +24.7% |
| Financial income | 75/76B | €1,333 | €324 | -€1,009 | -75.7% |
| Recurring financial income | 75 | €1,333 | €324 | -€1,009 | -75.7% |
| Financial charges | 65/66B | €4,522 | €3,731 | -€792 | -17.5% |
| Recurring financial charges | 65 | €4,522 | €3,731 | -€792 | -17.5% |
| Profit (loss) for the period before taxes | 9903 | €70,114 | €88,039 | +€17,925 | +25.6% |
| Income taxes | 67/77 | €19,545 | €25,043 | +€5,498 | +28.1% |
| Profit (loss) for the period | 9904 | €50,569 | €62,996 | +€12,428 | +24.6% |
| Profit (loss) for the period to be appropriated | 9905 | €50,569 | €62,996 | +€12,428 | +24.6% |
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 17 October 2026 via checked.be.