Bollaert: 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.
Bollaert
Largest movements
- Current investments -€259,211
down €259,211 (-5.1%), from €5.1m to €4.8m
- Cash +€238,984
up €238,984 (+204%), from €117,216 to €356,200
mainly Other debts (+€2.7m) and Net result for the year (+€1.1m)
- Reserves -€3.0m
down €3.0m (-71.8%), from €4.2m to €1.2m
- Other debts +€2.7m
up €2.7m (+218%), from €1.3m to €4.0m
- Tax, wage and social debts +€165,768
up €165,768 (+458%), from €36,195 to €201,963
of which Taxes: +€165,761
- Trade debts +€59,659
up €59,659 (+43.6%), from €136,945 to €196,604
- Gross operating margin +€114,078
up €114,078 (+8.5%), from €1.3m to €1.5m
- Financial income -€24,837
down €24,837 (-13.6%), from €183,042 to €158,205
- Taxes +€23,472
up €23,472 (+6.6%), from €357,204 to €380,676
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 | €5,712,184 | €5,701,188 | -€10,997 | -0.2% |
| Fixed assets | 21/28 | €223,739 | €205,172 | -€18,567 | -8.3% |
| Tangible fixed assets | 22/27 | €223,589 | €205,022 | -€18,567 | -8.3% |
| Furniture and vehicles | 24 | - | €32,481 | +€32,481 | |
| Other tangible fixed assets | 26 | €223,589 | €172,541 | -€51,048 | -22.8% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €5,488,446 | €5,496,015 | +€7,570 | +0.1% |
| Stocks and contracts in progress | 3 | €215,521 | €209,366 | -€6,155 | -2.9% |
| Stocks | 30/36 | €215,521 | €209,366 | -€6,155 | -2.9% |
| Amounts receivable within one year | 40/41 | €62,523 | €94,971 | +€32,448 | +51.9% |
| Trade receivables | 40 | €15,007 | €47,455 | +€32,448 | +216% |
| Other amounts receivable | 41 | €47,516 | €47,516 | = | 0.0% |
| Current investments | 50/53 | €5,087,500 | €4,828,290 | -€259,211 | -5.1% |
| Cash at bank and in hand | 54/58 | €117,216 | €356,200 | +€238,984 | +204% |
| Deferred charges and accrued income | 490/1 | €5,685 | €7,189 | +€1,504 | +26.4% |
| Total equity and liabilities | 10/49 | €5,712,184 | €5,701,188 | -€10,997 | -0.2% |
| Equity | 10/15 | €4,277,291 | €1,294,878 | -€3.0m | -69.7% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €4,152,291 | €1,169,878 | -€3.0m | -71.8% |
| Distributable reserves | 133 | €4,152,291 | €1,169,878 | -€3.0m | -71.8% |
| Amounts payable | 17/49 | €1,434,894 | €4,406,309 | +€3.0m | +207% |
| Amounts payable within one year | 42/48 | €1,434,642 | €4,405,881 | +€3.0m | +207% |
| Trade debts | 44 | €136,945 | €196,604 | +€59,659 | +43.6% |
| Suppliers | 440/4 | €136,945 | €196,604 | +€59,659 | +43.6% |
| Taxes, remuneration and social security | 45 | €36,195 | €201,963 | +€165,768 | +458% |
| Taxes | 450/3 | €34,596 | €200,357 | +€165,761 | +479% |
| Remuneration and social security | 454/9 | €1,599 | €1,606 | +€7 | +0.5% |
| Other amounts payable | 47/48 | €1,261,502 | €4,007,314 | +€2.7m | +218% |
| Accrued charges and deferred income | 492/3 | €252 | €428 | +€176 | +69.9% |
| Non-recurring operating income | 76A | €1,697 | €5,271 | +€3,574 | +211% |
| Remuneration, social security and pensions | 62 | €8,225 | €5,071 | -€3,154 | -38.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,011 | €63,317 | +€4,306 | +7.3% |
| Other operating charges | 640/8 | €7,794 | €7,465 | -€329 | -4.2% |
| Gross operating margin | 9900 | €1,337,377 | €1,451,455 | +€114,078 | +8.5% |
| Operating profit (loss) | 9901 | €1,262,347 | €1,375,602 | +€113,255 | +9.0% |
| Financial income | 75/76B | €183,042 | €158,205 | -€24,837 | -13.6% |
| Recurring financial income | 75 | €183,042 | €158,205 | -€24,837 | -13.6% |
| Financial charges | 65/66B | €8,360 | €5,013 | -€3,347 | -40.0% |
| Recurring financial charges | 65 | €8,360 | €5,013 | -€3,347 | -40.0% |
| Profit (loss) for the period before taxes | 9903 | €1,437,028 | €1,528,793 | +€91,765 | +6.4% |
| Income taxes | 67/77 | €357,204 | €380,676 | +€23,472 | +6.6% |
| Profit (loss) for the period | 9904 | €1,079,825 | €1,148,118 | +€68,293 | +6.3% |
| Profit (loss) for the period to be appropriated | 9905 | €1,079,825 | €1,148,118 | +€68,293 | +6.3% |
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.