Bootstrapped Ventures: 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.
Bootstrapped Ventures
Largest movements
- Deferred charges and accrued income +€31,409
up €31,409 (+246.6%), from €12,736 to €44,146
- Tangible fixed assets -€21,062
down €21,062 (-30.3%), from €69,549 to €48,486
of which Furniture and vehicles: -€18,860
- Cash -€20,856
down €20,856 (-4.4%), from €474,132 to €453,276
mainly Contributions, distributions and other (-€420,000) and Trade debts (-€46,182)
- Receivables within one year -€19,380
down €19,380 (-42.2%), from €45,953 to €26,573
of which Trade receivables: -€19,397
- Trade debts -€46,182
down €46,182 (-90.8%), from €50,869 to €4,686
- Short-term financial debts +€20,751
up €20,751 (+257.6%), from €8,054 to €28,805
- Other debts +€18,894
up €18,894 (+4.6%), from €406,414 to €425,309
- Reserves -€17,199
down €17,199 (-18.2%), from €94,383 to €77,183
of which Distributable reserves: -€17,199
- Accrued charges and deferred income -€9,794
down €9,794 (-72.3%), from €13,539 to €3,745
- Gross operating margin -€41,655
down €41,655 (-6.9%), from €607,286 to €565,631
- Financial charges -€38,333
down €38,333 (-46.6%), from €82,329 to €43,996
- Financial income +€6,596
up €6,596 (+25.9%), from €25,440 to €32,036
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 | €602,369 | €574,737 | -€27,632 | -4.6% |
| Fixed assets | 21/28 | €69,549 | €48,486 | -€21,062 | -30.3% |
| Tangible fixed assets | 22/27 | €69,549 | €48,486 | -€21,062 | -30.3% |
| Plant, machinery and equipment | 23 | €1,988 | €1,581 | -€406 | -20.4% |
| Furniture and vehicles | 24 | €54,222 | €35,362 | -€18,860 | -34.8% |
| Other tangible fixed assets | 26 | €13,339 | €11,543 | -€1,796 | -13.5% |
| Current assets | 29/58 | €532,821 | €526,251 | -€6,570 | -1.2% |
| Stocks and contracts in progress | 3 | - | €2,257 | +€2,257 | |
| Stocks | 30/36 | - | €2,257 | +€2,257 | |
| Amounts receivable within one year | 40/41 | €45,953 | €26,573 | -€19,380 | -42.2% |
| Trade receivables | 40 | €45,951 | €26,554 | -€19,397 | -42.2% |
| Other amounts receivable | 41 | €1 | €19 | +€17 | +1338.5% |
| Cash at bank and in hand | 54/58 | €474,132 | €453,276 | -€20,856 | -4.4% |
| Deferred charges and accrued income | 490/1 | €12,736 | €44,146 | +€31,409 | +246.6% |
| Total equity and liabilities | 10/49 | €602,369 | €574,737 | -€27,632 | -4.6% |
| Equity | 10/15 | €112,983 | €95,783 | -€17,199 | -15.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €94,383 | €77,183 | -€17,199 | -18.2% |
| Tax-exempt reserves | 132 | €3,069 | €3,069 | = | 0.0% |
| Distributable reserves | 133 | €91,313 | €74,114 | -€17,199 | -18.8% |
| Amounts payable | 17/49 | €489,387 | €478,954 | -€10,433 | -2.1% |
| Amounts payable within one year | 42/48 | €475,848 | €475,209 | -€639 | -0.1% |
| Financial debts | 43 | €8,054 | €28,805 | +€20,751 | +257.6% |
| Credit institutions | 430/8 | €8,054 | €28,805 | +€20,751 | +257.6% |
| Trade debts | 44 | €50,869 | €4,686 | -€46,182 | -90.8% |
| Suppliers | 440/4 | €50,869 | €4,686 | -€46,182 | -90.8% |
| Taxes, remuneration and social security | 45 | €10,511 | €16,409 | +€5,898 | +56.1% |
| Taxes | 450/3 | €10,511 | €16,409 | +€5,898 | +56.1% |
| Other amounts payable | 47/48 | €406,414 | €425,309 | +€18,894 | +4.6% |
| Accrued charges and deferred income | 492/3 | €13,539 | €3,745 | -€9,794 | -72.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,766 | €21,062 | +€1,297 | +6.6% |
| Other operating charges | 640/8 | €525 | €477 | -€48 | -9.1% |
| Gross operating margin | 9900 | €607,286 | €565,631 | -€41,655 | -6.9% |
| Operating profit (loss) | 9901 | €586,996 | €544,092 | -€42,904 | -7.3% |
| Financial income | 75/76B | €25,440 | €32,036 | +€6,596 | +25.9% |
| Recurring financial income | 75 | €25,440 | €32,036 | +€6,596 | +25.9% |
| Financial charges | 65/66B | €82,329 | €43,996 | -€38,333 | -46.6% |
| Recurring financial charges | 65 | €82,329 | €43,996 | -€38,333 | -46.6% |
| Profit (loss) for the period before taxes | 9903 | €530,106 | €532,131 | +€2,025 | +0.4% |
| Income taxes | 67/77 | €128,866 | €129,331 | +€464 | +0.4% |
| Profit (loss) for the period | 9904 | €401,240 | €402,801 | +€1,561 | +0.4% |
| Profit (loss) for the period to be appropriated | 9905 | €401,240 | €402,801 | +€1,561 | +0.4% |
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 12 October 2026 via checked.be.