Bolsens: 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.
Bolsens
Largest movements
- Tangible fixed assets +€98,700
up €98,700 (+33.5%), from €295,029 to €393,729
of which Furniture and vehicles: +€68,379
- Receivables within one year +€91,917
up €91,917 (+102.2%), from €89,905 to €181,822
of which Other amounts receivable: +€56,774
- Other debts +€98,790
up €98,790 (+271327.1%), from €36 to €98,827
- Trade debts +€57,317
up €57,317 (+554.0%), from €10,346 to €67,663
- Debts after one year +€38,945
up €38,945 (+33.6%), from €115,995 to €154,941
- Reserves -€14,741
down €14,741 (-6.2%), from €237,542 to €222,801
of which Distributable reserves: -€14,741
- Tax, wage and social debts +€11,440
up €11,440 (+47.9%), from €23,903 to €35,343
of which Taxes: +€11,530
- Gross operating margin +€39,871
up €39,871 (+23.0%), from €173,515 to €213,386
- Depreciation +€21,669
up €21,669 (+38.1%), from €56,818 to €78,487
- Taxes +€4,603
up €4,603 (+16.0%), from €28,808 to €33,411
- Financial charges +€2,546
up €2,546 (+29.8%), from €8,543 to €11,089
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 | €467,164 | €659,788 | +€192,624 | +41.2% |
| Fixed assets | 21/28 | €295,044 | €393,744 | +€98,700 | +33.5% |
| Tangible fixed assets | 22/27 | €295,029 | €393,729 | +€98,700 | +33.5% |
| Land and buildings | 22 | €51,452 | €101,044 | +€49,592 | +96.4% |
| Plant, machinery and equipment | 23 | €171,545 | €158,629 | -€12,917 | -7.5% |
| Furniture and vehicles | 24 | €37,777 | €106,156 | +€68,379 | +181.0% |
| Leasing and similar rights | 25 | €23,476 | €19,425 | -€4,052 | -17.3% |
| Other tangible fixed assets | 26 | €10,779 | €8,475 | -€2,303 | -21.4% |
| Financial fixed assets | 28 | €15 | €15 | = | 0.0% |
| Current assets | 29/58 | €172,119 | €266,044 | +€93,924 | +54.6% |
| Stocks and contracts in progress | 3 | €3,504 | €3,659 | +€155 | +4.4% |
| Stocks | 30/36 | €3,504 | €3,659 | +€155 | +4.4% |
| Amounts receivable within one year | 40/41 | €89,905 | €181,822 | +€91,917 | +102.2% |
| Trade receivables | 40 | €10,373 | €45,516 | +€35,143 | +338.8% |
| Other amounts receivable | 41 | €79,532 | €136,306 | +€56,774 | +71.4% |
| Cash at bank and in hand | 54/58 | €72,331 | €75,253 | +€2,923 | +4.0% |
| Deferred charges and accrued income | 490/1 | €6,380 | €5,310 | -€1,070 | -16.8% |
| Total equity and liabilities | 10/49 | €467,164 | €659,788 | +€192,624 | +41.2% |
| Equity | 10/15 | €256,229 | €241,488 | -€14,741 | -5.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €237,542 | €222,801 | -€14,741 | -6.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €235,682 | €220,941 | -€14,741 | -6.3% |
| Profit (loss) carried forward | 14 | €87 | €87 | = | 0.0% |
| Amounts payable | 17/49 | €210,934 | €418,299 | +€207,365 | +98.3% |
| Amounts payable after more than one year | 17 | €115,995 | €154,941 | +€38,945 | +33.6% |
| Financial debts | 170/4 | €115,995 | €154,941 | +€38,945 | +33.6% |
| Amounts payable within one year | 42/48 | €94,939 | €263,359 | +€168,420 | +177.4% |
| Current portion of amounts payable after more than one year | 42 | €60,654 | €61,526 | +€873 | +1.4% |
| Trade debts | 44 | €10,346 | €67,663 | +€57,317 | +554.0% |
| Suppliers | 440/4 | €10,346 | €67,663 | +€57,317 | +554.0% |
| Taxes, remuneration and social security | 45 | €23,903 | €35,343 | +€11,440 | +47.9% |
| Taxes | 450/3 | €22,535 | €34,065 | +€11,530 | +51.2% |
| Remuneration and social security | 454/9 | €1,368 | €1,278 | -€91 | -6.6% |
| Other amounts payable | 47/48 | €36 | €98,827 | +€98,790 | +271327.1% |
| Non-recurring operating income | 76A | - | €144 | +€144 | |
| Remuneration, social security and pensions | 62 | €9,087 | €9,453 | +€366 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,818 | €78,487 | +€21,669 | +38.1% |
| Other operating charges | 640/8 | €2,386 | €1,283 | -€1,103 | -46.2% |
| Gross operating margin | 9900 | €173,515 | €213,386 | +€39,871 | +23.0% |
| Operating profit (loss) | 9901 | €105,224 | €124,163 | +€18,939 | +18.0% |
| Financial income | 75/76B | €4,349 | €4,424 | +€75 | +1.7% |
| Recurring financial income | 75 | €4,349 | €4,424 | +€75 | +1.7% |
| Financial charges | 65/66B | €8,543 | €11,089 | +€2,546 | +29.8% |
| Recurring financial charges | 65 | €8,543 | €11,089 | +€2,546 | +29.8% |
| Profit (loss) for the period before taxes | 9903 | €101,030 | €117,497 | +€16,467 | +16.3% |
| Income taxes | 67/77 | €28,808 | €33,411 | +€4,603 | +16.0% |
| Profit (loss) for the period | 9904 | €72,222 | €84,086 | +€11,864 | +16.4% |
| Profit (loss) for the period to be appropriated | 9905 | €72,222 | €84,086 | +€11,864 | +16.4% |
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 10 October 2026 via checked.be.