BOLT: 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.
BOLT
Largest movements
- Current investments -€300,000
no longer reported in 2025 (was €300,000)
- Cash -€192,049
down €192,049 (-65.9%), from €291,566 to €99,517
mainly Contributions, distributions and other (-€589,142) and Tax, wage and social debts (-€21,968)
- Tangible fixed assets -€37,626
down €37,626 (-25.9%), from €145,237 to €107,610
of which Furniture and vehicles: -€35,164
- Deferred charges and accrued income -€28,943
no longer reported in 2025 (was €28,943)
- Reserves -€525,341
down €525,341 (-66.3%), from €791,947 to €266,607
of which Distributable reserves: -€525,341
- Tax, wage and social debts -€21,968
down €21,968 (-94.6%), from €23,226 to €1,257
- Gross operating margin -€77,280
down €77,280 (-40.5%), from €190,597 to €113,317
- Taxes -€25,665
down €25,665 (-60.5%), from €42,397 to €16,731
- Financial income +€10,705
new in 2025: €10,705
- Financial charges -€4,325
down €4,325 (-79.2%), from €5,458 to €1,133
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 | €859,431 | €309,344 | -€550,087 | -64.0% |
| Fixed assets | 21/28 | €204,167 | €166,540 | -€37,626 | -18.4% |
| Tangible fixed assets | 22/27 | €145,237 | €107,610 | -€37,626 | -25.9% |
| Land and buildings | 22 | €48,216 | €44,377 | -€3,839 | -8.0% |
| Plant, machinery and equipment | 23 | - | €1,377 | +€1,377 | |
| Furniture and vehicles | 24 | €97,021 | €61,856 | -€35,164 | -36.2% |
| Financial fixed assets | 28 | €58,930 | €58,930 | = | 0.0% |
| Current assets | 29/58 | €655,264 | €142,804 | -€512,461 | -78.2% |
| Amounts receivable within one year | 40/41 | €34,756 | €43,286 | +€8,530 | +24.5% |
| Trade receivables | 40 | €25,460 | €20,982 | -€4,478 | -17.6% |
| Other amounts receivable | 41 | €9,296 | €22,305 | +€13,009 | +139.9% |
| Current investments | 50/53 | €300,000 | - | -€300,000 | |
| Cash at bank and in hand | 54/58 | €291,566 | €99,517 | -€192,049 | -65.9% |
| Deferred charges and accrued income | 490/1 | €28,943 | - | -€28,943 | |
| Total equity and liabilities | 10/49 | €859,431 | €309,344 | -€550,087 | -64.0% |
| Equity | 10/15 | €810,547 | €285,207 | -€525,341 | -64.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €791,947 | €266,607 | -€525,341 | -66.3% |
| Non-distributable reserves | 130/1 | €201 | €201 | = | 0.0% |
| Reserves not available under the articles | 1311 | €201 | €201 | = | 0.0% |
| Distributable reserves | 133 | €791,746 | €266,406 | -€525,341 | -66.4% |
| Amounts payable | 17/49 | €48,884 | €24,138 | -€24,746 | -50.6% |
| Amounts payable within one year | 42/48 | €48,884 | €24,138 | -€24,746 | -50.6% |
| Financial debts | 43 | €1,704 | - | -€1,704 | |
| Credit institutions | 430/8 | €1,704 | - | -€1,704 | |
| Trade debts | 44 | €1,148 | €3,295 | +€2,148 | +187.2% |
| Suppliers | 440/4 | €1,148 | €3,295 | +€2,148 | +187.2% |
| Taxes, remuneration and social security | 45 | €23,226 | €1,257 | -€21,968 | -94.6% |
| Taxes | 450/3 | €23,226 | €1,257 | -€21,968 | -94.6% |
| Other amounts payable | 47/48 | €22,807 | €19,585 | -€3,222 | -14.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,245 | €41,891 | -€353 | -0.8% |
| Other operating charges | 640/8 | €550 | €465 | -€84 | -15.3% |
| Gross operating margin | 9900 | €190,597 | €113,317 | -€77,280 | -40.5% |
| Operating profit (loss) | 9901 | €147,803 | €70,960 | -€76,843 | -52.0% |
| Financial income | 75/76B | - | €10,705 | +€10,705 | |
| Recurring financial income | 75 | - | €10,705 | +€10,705 | |
| Financial charges | 65/66B | €5,458 | €1,133 | -€4,325 | -79.2% |
| Recurring financial charges | 65 | €5,458 | €1,133 | -€4,325 | -79.2% |
| Profit (loss) for the period before taxes | 9903 | €142,345 | €80,532 | -€61,813 | -43.4% |
| Income taxes | 67/77 | €42,397 | €16,731 | -€25,665 | -60.5% |
| Profit (loss) for the period | 9904 | €99,948 | €63,801 | -€36,147 | -36.2% |
| Profit (loss) for the period to be appropriated | 9905 | €99,948 | €63,801 | -€36,147 | -36.2% |
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 12 October 2026 via checked.be.