BOLS PAUL: 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.
BOLS PAUL
Largest movements
- Receivables within one year -€29,121
down €29,121 (-16.9%), from €172,614 to €143,493
of which Trade receivables: -€26,224
- Cash +€18,175
up €18,175 (+7.1%), from €257,014 to €275,190
mainly Receivables within one year (+€29,121) and Net result for the year (+€11,664)
- Stocks and contracts +€9,123
up €9,123 (+25.2%), from €36,141 to €45,265
- Reserves +€9,998
up €9,998 (+25.2%), from €39,688 to €49,686
- Trade debts -€6,110
down €6,110 (-13.8%), from €44,436 to €38,326
- Other operating charges +€10,142
up €10,142 (+556.9%), from €1,821 to €11,963
- Depreciation -€3,879
down €3,879 (-58.7%), from €6,607 to €2,728
- Financial income +€3,685
up €3,685 (+3058.1%), from €121 to €3,806
- Taxes -€3,358
down €3,358 (-43.4%), from €7,732 to €4,375
- Gross operating margin +€3,034
up €3,034 (+3.2%), from €93,580 to €96,614
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 | €471,868 | €475,341 | +€3,473 | +0.7% |
| Fixed assets | 21/28 | €2,667 | €7,401 | +€4,734 | +177.5% |
| Tangible fixed assets | 22/27 | €2,667 | €7,401 | +€4,734 | +177.5% |
| Plant, machinery and equipment | 23 | €832 | €944 | +€112 | +13.4% |
| Furniture and vehicles | 24 | €1,835 | €6,457 | +€4,622 | +251.9% |
| Current assets | 29/58 | €469,201 | €467,940 | -€1,261 | -0.3% |
| Stocks and contracts in progress | 3 | €36,141 | €45,265 | +€9,123 | +25.2% |
| Stocks | 30/36 | €36,141 | €45,265 | +€9,123 | +25.2% |
| Amounts receivable within one year | 40/41 | €172,614 | €143,493 | -€29,121 | -16.9% |
| Trade receivables | 40 | €161,567 | €135,343 | -€26,224 | -16.2% |
| Other amounts receivable | 41 | €11,048 | €8,150 | -€2,897 | -26.2% |
| Current investments | 50/53 | €597 | €575 | -€22 | -3.7% |
| Cash at bank and in hand | 54/58 | €257,014 | €275,190 | +€18,175 | +7.1% |
| Deferred charges and accrued income | 490/1 | €2,834 | €3,418 | +€584 | +20.6% |
| Total equity and liabilities | 10/49 | €471,868 | €475,341 | +€3,473 | +0.7% |
| Equity | 10/15 | €414,467 | €424,465 | +€9,998 | +2.4% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €39,688 | €49,686 | +€9,998 | +25.2% |
| Distributable reserves | 133 | €39,688 | €49,686 | +€9,998 | +25.2% |
| Profit (loss) carried forward | 14 | €224,779 | €224,779 | = | 0.0% |
| Amounts payable | 17/49 | €57,401 | €50,876 | -€6,525 | -11.4% |
| Amounts payable within one year | 42/48 | €57,401 | €50,676 | -€6,725 | -11.7% |
| Trade debts | 44 | €44,436 | €38,326 | -€6,110 | -13.8% |
| Suppliers | 440/4 | €44,436 | €38,326 | -€6,110 | -13.8% |
| Taxes, remuneration and social security | 45 | €12,965 | €10,198 | -€2,767 | -21.3% |
| Taxes | 450/3 | €4,020 | €1,374 | -€2,647 | -65.8% |
| Remuneration and social security | 454/9 | €8,945 | €8,824 | -€121 | -1.3% |
| Other amounts payable | 47/48 | - | €2,152 | +€2,152 | |
| Accrued charges and deferred income | 492/3 | - | €200 | +€200 | |
| Remuneration, social security and pensions | 62 | €69,761 | €68,977 | -€784 | -1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,607 | €2,728 | -€3,879 | -58.7% |
| Other operating charges | 640/8 | €1,821 | €11,963 | +€10,142 | +556.9% |
| Gross operating margin | 9900 | €93,580 | €96,614 | +€3,034 | +3.2% |
| Operating profit (loss) | 9901 | €15,391 | €12,945 | -€2,445 | -15.9% |
| Financial income | 75/76B | €121 | €3,806 | +€3,685 | +3058.1% |
| Recurring financial income | 75 | €121 | €3,806 | +€3,685 | +3058.1% |
| Financial charges | 65/66B | €1,387 | €712 | -€675 | -48.7% |
| Recurring financial charges | 65 | €1,387 | €712 | -€675 | -48.7% |
| Profit (loss) for the period before taxes | 9903 | €14,124 | €16,039 | +€1,915 | +13.6% |
| Income taxes | 67/77 | €7,732 | €4,375 | -€3,358 | -43.4% |
| Profit (loss) for the period | 9904 | €6,392 | €11,664 | +€5,272 | +82.5% |
| Profit (loss) for the period to be appropriated | 9905 | €6,392 | €11,664 | +€5,272 | +82.5% |
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 10 October 2026 via checked.be.