Boldair advisory: what changed
Two fiscal 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.
Boldair advisory
Largest movements
- Current investments +€145,000
up €145,000 (+145.0%), from €100,000 to €245,000
- Cash -€16,864
down €16,864 (-47.5%), from €35,474 to €18,610
mainly Current investments (-€145,000) and Smaller working-capital items (-€418)
- Tangible fixed assets -€11,922
down €11,922 (-37.7%), from €31,629 to €19,707
- Profit (loss) carried forward +€89,301
up €89,301 (+66.6%), from €134,042 to €223,343
- Trade debts +€26,528
up €26,528 (+26007.9%), from €102 to €26,630
of which Bills of exchange payable: +€26,450
- Financial income +€3,375
up €3,375 (+515.2%), from €655 to €4,030
- Depreciation +€1,753
up €1,753 (+17.2%), from €10,169 to €11,922
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 | €169,261 | €285,685 | +€116,424 | +68.8% |
| Fixed assets | 21/28 | €31,629 | €19,707 | -€11,922 | -37.7% |
| Tangible fixed assets | 22/27 | €31,629 | €19,707 | -€11,922 | -37.7% |
| Furniture and vehicles | 24 | €31,629 | €19,707 | -€11,922 | -37.7% |
| Current assets | 29/58 | €137,632 | €265,978 | +€128,346 | +93.3% |
| Amounts receivable within one year | 40/41 | €169 | €229 | +€60 | +35.5% |
| Trade receivables | 40 | €169 | - | -€169 | |
| Other amounts receivable | 41 | - | €229 | +€229 | |
| Current investments | 50/53 | €100,000 | €245,000 | +€145,000 | +145.0% |
| Cash at bank and in hand | 54/58 | €35,474 | €18,610 | -€16,864 | -47.5% |
| Deferred charges and accrued income | 490/1 | €1,989 | €2,140 | +€151 | +7.6% |
| Total equity and liabilities | 10/49 | €169,261 | €285,685 | +€116,424 | +68.8% |
| Equity | 10/15 | €139,042 | €228,343 | +€89,301 | +64.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €134,042 | €223,343 | +€89,301 | +66.6% |
| Amounts payable | 17/49 | €30,219 | €57,342 | +€27,123 | +89.8% |
| Amounts payable within one year | 42/48 | €30,219 | €57,342 | +€27,123 | +89.8% |
| Trade debts | 44 | €102 | €26,630 | +€26,528 | +26007.9% |
| Suppliers | 440/4 | - | €78 | +€78 | |
| Bills of exchange payable | 441 | €102 | €26,552 | +€26,450 | +25931.3% |
| Taxes, remuneration and social security | 45 | €29,986 | €29,779 | -€207 | -0.7% |
| Taxes | 450/3 | €29,986 | €29,779 | -€207 | -0.7% |
| Other amounts payable | 47/48 | €131 | €933 | +€802 | +611.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,169 | €11,922 | +€1,753 | +17.2% |
| Other operating charges | 640/8 | €907 | €933 | +€26 | +2.9% |
| Non-recurring operating charges | 66A | €49 | - | -€49 | |
| Gross operating margin | 9900 | €123,532 | €122,496 | -€1,036 | -0.8% |
| Operating profit (loss) | 9901 | €112,407 | €109,640 | -€2,767 | -2.5% |
| Financial income | 75/76B | €655 | €4,030 | +€3,375 | +515.2% |
| Recurring financial income | 75 | €655 | €4,030 | +€3,375 | +515.2% |
| Financial charges | 65/66B | €121 | €200 | +€79 | +65.5% |
| Recurring financial charges | 65 | €121 | €200 | +€79 | +65.5% |
| Profit (loss) for the period before taxes | 9903 | €112,941 | €113,470 | +€529 | +0.5% |
| Income taxes | 67/77 | €24,087 | €24,169 | +€82 | +0.3% |
| Profit (loss) for the period | 9904 | €88,854 | €89,301 | +€447 | +0.5% |
| Profit (loss) for the period to be appropriated | 9905 | €88,854 | €89,301 | +€447 | +0.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.