BOLDO: 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.
BOLDO
Largest movements
- Receivables within one year -€25,228
down €25,228 (-42.1%), from €59,931 to €34,704
of which Trade receivables: -€18,836
- Deferred charges and accrued income +€8,601
up €8,601 (+227%), from €3,783 to €12,384
- Cash -€7,992
down €7,992 (-97.1%), from €8,233 to €242
mainly Trade debts (-€17,194) and Deferred charges and accrued income (-€8,601)
- Tangible fixed assets -€4,023
down €4,023 (-31.1%), from €12,934 to €8,911
of which Furniture and vehicles: -€8,438
- Trade debts -€17,194
down €17,194 (-39.1%), from €44,017 to €26,823
- Other debts -€8,200
down €8,200 (-100%), from €8,200 to €0
- Debts after one year -€6,725
down €6,725 (-12.5%), from €53,787 to €47,062
- Profit (loss) carried forward +€4,387
up €4,387 (+5.3%), from -€83,354 to -€78,967
- Tax, wage and social debts -€1,055
down €1,055 (-2.1%), from €49,453 to €48,398
of which Taxes: -€866
- Financial charges -€41,630
down €41,630 (-93.2%), from €44,659 to €3,029
- Gross operating margin -€31,864
down €31,864 (-9.6%), from €332,278 to €300,414
- Staff costs +€7,372
up €7,372 (+2.7%), from €277,748 to €285,120
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 | €84,882 | €56,241 | -€28,641 | -33.7% |
| Fixed assets | 21/28 | €12,934 | €8,911 | -€4,023 | -31.1% |
| Tangible fixed assets | 22/27 | €12,934 | €8,911 | -€4,023 | -31.1% |
| Plant, machinery and equipment | 23 | €2,031 | €6,447 | +€4,415 | +217% |
| Furniture and vehicles | 24 | €10,903 | €2,465 | -€8,438 | -77.4% |
| Current assets | 29/58 | €71,948 | €47,330 | -€24,618 | -34.2% |
| Amounts receivable within one year | 40/41 | €59,931 | €34,704 | -€25,228 | -42.1% |
| Trade receivables | 40 | €24,600 | €5,764 | -€18,836 | -76.6% |
| Other amounts receivable | 41 | €35,331 | €28,940 | -€6,391 | -18.1% |
| Cash at bank and in hand | 54/58 | €8,233 | €242 | -€7,992 | -97.1% |
| Deferred charges and accrued income | 490/1 | €3,783 | €12,384 | +€8,601 | +227% |
| Total equity and liabilities | 10/49 | €84,882 | €56,241 | -€28,641 | -33.7% |
| Equity | 10/15 | -€77,154 | -€72,767 | +€4,387 | +5.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€83,354 | -€78,967 | +€4,387 | +5.3% |
| Amounts payable | 17/49 | €162,036 | €129,008 | -€33,028 | -20.4% |
| Amounts payable after more than one year | 17 | €53,787 | €47,062 | -€6,725 | -12.5% |
| Financial debts | 170/4 | €53,787 | €47,062 | -€6,725 | -12.5% |
| Amounts payable within one year | 42/48 | €108,248 | €81,946 | -€26,302 | -24.3% |
| Current portion of amounts payable after more than one year | 42 | €6,579 | €6,725 | +€147 | +2.2% |
| Trade debts | 44 | €44,017 | €26,823 | -€17,194 | -39.1% |
| Suppliers | 440/4 | €44,017 | €26,823 | -€17,194 | -39.1% |
| Taxes, remuneration and social security | 45 | €49,453 | €48,398 | -€1,055 | -2.1% |
| Taxes | 450/3 | €3,208 | €2,342 | -€866 | -27.0% |
| Remuneration and social security | 454/9 | €46,245 | €46,056 | -€189 | -0.4% |
| Other amounts payable | 47/48 | €8,200 | €0 | -€8,200 | -100% |
| Remuneration, social security and pensions | 62 | €277,748 | €285,120 | +€7,372 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,895 | €6,036 | +€141 | +2.4% |
| Other operating charges | 640/8 | €1,407 | €1,330 | -€77 | -5.5% |
| Gross operating margin | 9900 | €332,278 | €300,414 | -€31,864 | -9.6% |
| Operating profit (loss) | 9901 | €47,229 | €7,928 | -€39,301 | -83.2% |
| Financial income | 75/76B | €2,389 | €1,829 | -€560 | -23.4% |
| Recurring financial income | 75 | €2,389 | €1,829 | -€560 | -23.4% |
| Financial charges | 65/66B | €44,659 | €3,029 | -€41,630 | -93.2% |
| Recurring financial charges | 65 | €44,659 | €3,029 | -€41,630 | -93.2% |
| Profit (loss) for the period before taxes | 9903 | €4,959 | €6,728 | +€1,769 | +35.7% |
| Income taxes | 67/77 | €93 | €2,342 | +€2,248 | +2,413% |
| Profit (loss) for the period | 9904 | €4,866 | €4,387 | -€479 | -9.8% |
| Profit (loss) for the period to be appropriated | 9905 | €4,866 | €4,387 | -€479 | -9.8% |
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 14 October 2026 via checked.be.