Boileau: 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.
Boileau
Largest movements
- Cash -€30,106
down €30,106 (-52.9%), from €56,937 to €26,831
mainly Investment in fixed assets (net) (-€41,288) and Other debts (-€10,611)
- Other debts -€10,611
down €10,611 (-5.9%), from €180,216 to €169,605
- Reserves -€10,387
down €10,387 (-2.7%), from €386,703 to €376,316
of which Tax-exempt reserves: -€19,074
- Gross operating margin -€3,878
down €3,878 (-7.9%), from €49,305 to €45,427
- Depreciation +€2,629
up €2,629 (+6.6%), from €39,782 to €42,411
- Taxes -€2,212
down €2,212 (-35.3%), from €6,271 to €4,059
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 | €979,915 | €958,103 | -€21,812 | -2.2% |
| Fixed assets | 21/28 | €919,463 | €918,340 | -€1,123 | -0.1% |
| Tangible fixed assets | 22/27 | €919,463 | €918,340 | -€1,123 | -0.1% |
| Land and buildings | 22 | €913,103 | €914,379 | +€1,276 | +0.1% |
| Furniture and vehicles | 24 | - | €3,961 | +€3,961 | |
| Assets under construction and advance payments | 27 | €6,360 | - | -€6,360 | |
| Current assets | 29/58 | €60,452 | €39,763 | -€20,689 | -34.2% |
| Amounts receivable within one year | 40/41 | €1,229 | €10,170 | +€8,941 | +727.6% |
| Trade receivables | 40 | - | €4,000 | +€4,000 | |
| Other amounts receivable | 41 | €1,229 | €6,170 | +€4,941 | +402.1% |
| Cash at bank and in hand | 54/58 | €56,937 | €26,831 | -€30,106 | -52.9% |
| Deferred charges and accrued income | 490/1 | €2,286 | €2,763 | +€477 | +20.8% |
| Total equity and liabilities | 10/49 | €979,915 | €958,103 | -€21,812 | -2.2% |
| Equity | 10/15 | €437,634 | €427,248 | -€10,387 | -2.4% |
| Contributions | 10/11 | €49,579 | €49,579 | = | 0.0% |
| Reserves | 13 | €386,703 | €376,316 | -€10,387 | -2.7% |
| Non-distributable reserves | 130/1 | €4,958 | €4,958 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,958 | €4,958 | = | 0.0% |
| Tax-exempt reserves | 132 | €309,607 | €290,534 | -€19,074 | -6.2% |
| Distributable reserves | 133 | €72,137 | €80,825 | +€8,687 | +12.0% |
| Profit (loss) carried forward | 14 | €1,353 | €1,353 | = | 0.0% |
| Provisions and deferred taxes | 16 | €103,203 | €96,845 | -€6,358 | -6.2% |
| Deferred taxes | 168 | €103,203 | €96,845 | -€6,358 | -6.2% |
| Amounts payable | 17/49 | €439,078 | €434,011 | -€5,067 | -1.2% |
| Amounts payable after more than one year | 17 | €250,000 | €250,000 | = | 0.0% |
| Financial debts | 170/4 | €250,000 | €250,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €184,384 | €173,144 | -€11,240 | -6.1% |
| Trade debts | 44 | €936 | €3,539 | +€2,602 | +277.9% |
| Suppliers | 440/4 | €936 | €3,539 | +€2,602 | +277.9% |
| Taxes, remuneration and social security | 45 | €3,232 | - | -€3,232 | |
| Taxes | 450/3 | €3,232 | - | -€3,232 | |
| Other amounts payable | 47/48 | €180,216 | €169,605 | -€10,611 | -5.9% |
| Accrued charges and deferred income | 492/3 | €4,694 | €10,867 | +€6,173 | +131.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,782 | €42,411 | +€2,629 | +6.6% |
| Other operating charges | 640/8 | €8,133 | €8,534 | +€402 | +4.9% |
| Gross operating margin | 9900 | €49,305 | €45,427 | -€3,878 | -7.9% |
| Operating profit (loss) | 9901 | €1,390 | -€5,519 | -€6,908 | |
| Financial charges | 65/66B | €7,173 | €7,167 | -€6 | -0.1% |
| Recurring financial charges | 65 | €7,173 | €7,167 | -€6 | -0.1% |
| Profit (loss) for the period before taxes | 9903 | -€5,783 | -€12,685 | -€6,903 | -119.4% |
| Transfer from deferred taxes | 780 | €6,358 | €6,358 | = | 0.0% |
| Income taxes | 67/77 | €6,271 | €4,059 | -€2,212 | -35.3% |
| Profit (loss) for the period | 9904 | -€5,696 | -€10,387 | -€4,690 | -82.3% |
| Transfer from tax-exempt reserves | 789 | €19,074 | €19,074 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €13,378 | €8,687 | -€4,690 | -35.1% |
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 11 October 2026 via checked.be.