Bolko: 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.
Bolko
Largest movements
- Cash -€235,746
down €235,746 (-30.9%), from €763,183 to €527,436
mainly Investment in fixed assets (net) (-€159,675) and Net result for the year (-€49,406)
- Tangible fixed assets +€131,338
up €131,338 (+7.2%), from €1.8m to €1.9m
of which Land and buildings: +€146,979
- Tax, wage and social debts -€48,592
down €48,592 (-41.9%), from €115,848 to €67,256
- Reserves -€47,296
down €47,296 (-5.9%), from €797,539 to €750,242
of which Distributable reserves: -€43,808
- Gross operating margin -€304,375
down €304,375, from €285,441 to -€18,934
- Taxes -€67,256
no longer reported in 2025 (was €67,256)
- Other operating charges -€12,357
down €12,357 (-79.9%), from €15,474 to €3,117
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 | €2,583,116 | €2,478,751 | -€104,364 | -4.0% |
| Fixed assets | 21/28 | €1,818,099 | €1,949,437 | +€131,338 | +7.2% |
| Tangible fixed assets | 22/27 | €1,818,099 | €1,949,437 | +€131,338 | +7.2% |
| Land and buildings | 22 | €1,523,063 | €1,670,041 | +€146,979 | +9.7% |
| Plant, machinery and equipment | 23 | €21,966 | €6,326 | -€15,640 | -71.2% |
| Other tangible fixed assets | 26 | €273,070 | €273,070 | = | 0.0% |
| Current assets | 29/58 | €765,016 | €529,314 | -€235,703 | -30.8% |
| Amounts receivable within one year | 40/41 | €928 | €928 | = | 0.0% |
| Trade receivables | 40 | €928 | €928 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €763,183 | €527,436 | -€235,746 | -30.9% |
| Deferred charges and accrued income | 490/1 | €906 | €950 | +€44 | +4.8% |
| Total equity and liabilities | 10/49 | €2,583,116 | €2,478,751 | -€104,364 | -4.0% |
| Equity | 10/15 | €861,148 | €811,742 | -€49,406 | -5.7% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €797,539 | €750,242 | -€47,296 | -5.9% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €64,389 | €60,900 | -€3,489 | -5.4% |
| Distributable reserves | 133 | €727,000 | €683,192 | -€43,808 | -6.0% |
| Profit (loss) carried forward | 14 | €2,109 | - | -€2,109 | |
| Provisions and deferred taxes | 16 | €21,463 | €20,300 | -€1,163 | -5.4% |
| Deferred taxes | 168 | €21,463 | €20,300 | -€1,163 | -5.4% |
| Amounts payable | 17/49 | €1,700,504 | €1,646,708 | -€53,796 | -3.2% |
| Amounts payable within one year | 42/48 | €1,700,504 | €1,646,708 | -€53,796 | -3.2% |
| Trade debts | 44 | €545 | - | -€545 | |
| Suppliers | 440/4 | €545 | - | -€545 | |
| Taxes, remuneration and social security | 45 | €115,848 | €67,256 | -€48,592 | -41.9% |
| Taxes | 450/3 | €115,848 | €67,256 | -€48,592 | -41.9% |
| Other amounts payable | 47/48 | €1,584,111 | €1,579,452 | -€4,659 | -0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,062 | €28,337 | +€1,275 | +4.7% |
| Other operating charges | 640/8 | €15,474 | €3,117 | -€12,357 | -79.9% |
| Gross operating margin | 9900 | €285,441 | -€18,934 | -€304,375 | |
| Operating profit (loss) | 9901 | €242,905 | -€50,388 | -€293,293 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -97.5% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -97.5% |
| Financial charges | 65/66B | €246 | €180 | -€66 | -26.7% |
| Recurring financial charges | 65 | €246 | €180 | -€66 | -26.7% |
| Profit (loss) for the period before taxes | 9903 | €242,660 | -€50,569 | -€293,228 | |
| Transfer from deferred taxes | 780 | €1,163 | €1,163 | = | 0.0% |
| Income taxes | 67/77 | €67,256 | - | -€67,256 | |
| Profit (loss) for the period | 9904 | €176,566 | -€49,406 | -€225,972 | |
| Transfer from tax-exempt reserves | 789 | €3,489 | €3,489 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €180,055 | -€45,917 | -€225,972 |
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 2 October 2026 via checked.be.