Bolster: 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.
Bolster
Largest movements
- Tangible fixed assets +€27,533
up €27,533 (+3871.8%), from €711 to €28,245
of which Leasing and similar rights: +€27,774
- Receivables within one year +€15,682
up €15,682 (+163.4%), from €9,596 to €25,278
of which Other amounts receivable: +€15,187
- Cash -€7,104
down €7,104 (-43.5%), from €16,337 to €9,233
mainly Investment in fixed assets (net) (-€33,000) and Receivables within one year (-€15,682)
- Intangible fixed assets -€6,500
down €6,500 (-11.2%), from €58,216 to €51,716
- Debts after one year +€20,555
new in 2025: €20,555
- Tax, wage and social debts -€14,538
down €14,538 (-99.5%), from €14,613 to €75
- Reserves +€8,540
up €8,540 (+22.2%), from €38,533 to €47,074
- Current portion of long-term debt +€5,547
new in 2025: €5,547
- Other debts +€5,316
up €5,316 (+23.1%), from €22,997 to €28,313
- Gross operating margin -€37,632
down €37,632 (-59.9%), from €62,788 to €25,156
- Taxes -€11,909
down €11,909 (-82.2%), from €14,495 to €2,586
- Depreciation +€3,044
up €3,044 (+34.1%), from €8,922 to €11,967
- Financial charges +€1,112
up €1,112 (+1410.1%), from €79 to €1,191
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 | €85,125 | €114,769 | +€29,644 | +34.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €58,927 | €79,960 | +€21,033 | +35.7% |
| Intangible fixed assets | 21 | €58,216 | €51,716 | -€6,500 | -11.2% |
| Tangible fixed assets | 22/27 | €711 | €28,245 | +€27,533 | +3871.8% |
| Plant, machinery and equipment | 23 | €711 | €470 | -€241 | -33.9% |
| Leasing and similar rights | 25 | - | €27,774 | +€27,774 | |
| Current assets | 29/58 | €26,198 | €34,808 | +€8,610 | +32.9% |
| Amounts receivable within one year | 40/41 | €9,596 | €25,278 | +€15,682 | +163.4% |
| Trade receivables | 40 | €3,022 | €3,517 | +€495 | +16.4% |
| Other amounts receivable | 41 | €6,574 | €21,761 | +€15,187 | +231.0% |
| Cash at bank and in hand | 54/58 | €16,337 | €9,233 | -€7,104 | -43.5% |
| Deferred charges and accrued income | 490/1 | €265 | €298 | +€33 | +12.5% |
| Total equity and liabilities | 10/49 | €85,125 | €114,769 | +€29,644 | +34.8% |
| Equity | 10/15 | €43,533 | €52,074 | +€8,540 | +19.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €38,533 | €47,074 | +€8,540 | +22.2% |
| Distributable reserves | 133 | €38,533 | €47,074 | +€8,540 | +22.2% |
| Amounts payable | 17/49 | €41,592 | €62,695 | +€21,104 | +50.7% |
| Amounts payable after more than one year | 17 | - | €20,555 | +€20,555 | |
| Financial debts | 170/4 | - | €20,555 | +€20,555 | |
| Amounts payable within one year | 42/48 | €41,592 | €41,757 | +€165 | +0.4% |
| Current portion of amounts payable after more than one year | 42 | - | €5,547 | +€5,547 | |
| Trade debts | 44 | €3,982 | €7,822 | +€3,839 | +96.4% |
| Suppliers | 440/4 | €3,982 | €7,822 | +€3,839 | +96.4% |
| Taxes, remuneration and social security | 45 | €14,613 | €75 | -€14,538 | -99.5% |
| Taxes | 450/3 | €14,613 | €75 | -€14,538 | -99.5% |
| Other amounts payable | 47/48 | €22,997 | €28,313 | +€5,316 | +23.1% |
| Accrued charges and deferred income | 492/3 | - | €384 | +€384 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,922 | €11,967 | +€3,044 | +34.1% |
| Other operating charges | 640/8 | €828 | €874 | +€46 | +5.5% |
| Gross operating margin | 9900 | €62,788 | €25,156 | -€37,632 | -59.9% |
| Operating profit (loss) | 9901 | €53,038 | €12,316 | -€40,723 | -76.8% |
| Financial income | 75/76B | €69 | €2 | -€67 | -97.7% |
| Recurring financial income | 75 | €69 | €2 | -€67 | -97.7% |
| Financial charges | 65/66B | €79 | €1,191 | +€1,112 | +1410.1% |
| Recurring financial charges | 65 | €79 | €1,191 | +€1,112 | +1410.1% |
| Profit (loss) for the period before taxes | 9903 | €53,028 | €11,127 | -€41,902 | -79.0% |
| Income taxes | 67/77 | €14,495 | €2,586 | -€11,909 | -82.2% |
| Profit (loss) for the period | 9904 | €38,533 | €8,540 | -€29,993 | -77.8% |
| Profit (loss) for the period to be appropriated | 9905 | €38,533 | €8,540 | -€29,993 | -77.8% |
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 7 October 2026 via checked.be.