BOLLAERT MANAGEMENT: 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 MANAGEMENT
Largest movements
- Cash -€98,391
down €98,391 (-38.1%), from €257,952 to €159,561
mainly Other debts (-€114,401) and Receivables within one year (-€60,093)
- Tangible fixed assets -€64,740
down €64,740 (-6.7%), from €972,678 to €907,938
of which Land and buildings: -€57,489
- Receivables within one year +€60,093
up €60,093 (+207%), from €29,040 to €89,133
of which Trade receivables: +€58,080
- Deferred charges and accrued income +€18,791
up €18,791 (+160%), from €11,761 to €30,552
- Other debts -€114,401
down €114,401 (-24.5%), from €467,579 to €353,178
- Reserves +€84,230
up €84,230 (+10.2%), from €825,231 to €909,461
of which Distributable reserves: +€84,230
- Debts after one year -€39,474
down €39,474 (-17.4%), from €226,974 to €187,501
- Financial charges -€160,354
down €160,354 (-81.7%), from €196,388 to €36,034
of which Financial charges: -€84,796
- Gross operating margin -€25,088
down €25,088 (-10.0%), from €251,576 to €226,487
- Financial income +€10,068
new in 2025: €10,068
of which Non-recurring financial income: +€6,418
- Taxes +€6,084
up €6,084 (+24.9%), from €24,421 to €30,505
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 | €1,740,221 | €1,662,393 | -€77,828 | -4.5% |
| Fixed assets | 21/28 | €1,341,468 | €1,283,146 | -€58,321 | -4.3% |
| Tangible fixed assets | 22/27 | €972,678 | €907,938 | -€64,740 | -6.7% |
| Land and buildings | 22 | €917,070 | €859,581 | -€57,489 | -6.3% |
| Plant, machinery and equipment | 23 | €55,608 | €48,357 | -€7,251 | -13.0% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €368,790 | €375,208 | +€6,418 | +1.7% |
| Current assets | 29/58 | €398,753 | €379,247 | -€19,506 | -4.9% |
| Amounts receivable within one year | 40/41 | €29,040 | €89,133 | +€60,093 | +207% |
| Trade receivables | 40 | €29,040 | €87,120 | +€58,080 | +200% |
| Other amounts receivable | 41 | - | €2,013 | +€2,013 | |
| Current investments | 50/53 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €257,952 | €159,561 | -€98,391 | -38.1% |
| Deferred charges and accrued income | 490/1 | €11,761 | €30,552 | +€18,791 | +160% |
| Total equity and liabilities | 10/49 | €1,740,221 | €1,662,393 | -€77,828 | -4.5% |
| Equity | 10/15 | €949,231 | €1,033,461 | +€84,230 | +8.9% |
| Contributions | 10/11 | €124,000 | €124,000 | = | 0.0% |
| Capital | 10 | €124,000 | €124,000 | = | 0.0% |
| Issued capital | 100 | €124,000 | €124,000 | = | 0.0% |
| Reserves | 13 | €825,231 | €909,461 | +€84,230 | +10.2% |
| Non-distributable reserves | 130/1 | €12,400 | €12,400 | = | 0.0% |
| Legal reserve | 130 | €12,400 | €12,400 | = | 0.0% |
| Distributable reserves | 133 | €812,831 | €897,061 | +€84,230 | +10.4% |
| Amounts payable | 17/49 | €790,990 | €628,932 | -€162,058 | -20.5% |
| Amounts payable after more than one year | 17 | €226,974 | €187,501 | -€39,474 | -17.4% |
| Financial debts | 170/4 | €226,974 | €187,501 | -€39,474 | -17.4% |
| Amounts payable within one year | 42/48 | €516,599 | €406,966 | -€109,633 | -21.2% |
| Current portion of amounts payable after more than one year | 42 | €39,474 | €39,474 | = | 0.0% |
| Trade debts | 44 | - | €138 | +€138 | |
| Suppliers | 440/4 | - | €138 | +€138 | |
| Advances received on contracts in progress | 46 | €50 | €590 | +€540 | +1,080% |
| Taxes, remuneration and social security | 45 | €9,496 | €13,586 | +€4,090 | +43.1% |
| Taxes | 450/3 | €9,496 | €13,586 | +€4,090 | +43.1% |
| Other amounts payable | 47/48 | €467,579 | €353,178 | -€114,401 | -24.5% |
| Accrued charges and deferred income | 492/3 | €47,417 | €34,466 | -€12,951 | -27.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,821 | €64,740 | +€918 | +1.4% |
| Other operating charges | 640/8 | €20,510 | €21,048 | +€538 | +2.6% |
| Gross operating margin | 9900 | €251,576 | €226,487 | -€25,088 | -10.0% |
| Operating profit (loss) | 9901 | €167,245 | €140,700 | -€26,544 | -15.9% |
| Financial income | 75/76B | - | €10,068 | +€10,068 | |
| Recurring financial income | 75 | - | €3,650 | +€3,650 | |
| Non-recurring financial income | 76B | - | €6,418 | +€6,418 | |
| Financial charges | 65/66B | €196,388 | €36,034 | -€160,354 | -81.7% |
| Recurring financial charges | 65 | €120,829 | €36,034 | -€84,796 | -70.2% |
| Non-recurring financial charges | 66B | €75,559 | - | -€75,559 | |
| Profit (loss) for the period before taxes | 9903 | -€29,144 | €114,735 | +€143,878 | |
| Income taxes | 67/77 | €24,421 | €30,505 | +€6,084 | +24.9% |
| Profit (loss) for the period | 9904 | -€53,564 | €84,230 | +€137,795 | |
| Profit (loss) for the period to be appropriated | 9905 | -€53,564 | €84,230 | +€137,795 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.