BOSMAN Etienne: 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.
BOSMAN Etienne
Largest movements
- Cash +€77,846
up €77,846 (+60.6%), from €128,482 to €206,328
mainly Net result for the year (+€117,827) and Other debts (+€53,783)
- Receivables within one year +€64,871
up €64,871 (+30.6%), from €211,984 to €276,856
of which Other amounts receivable: +€61,930
- Stocks and contracts +€43,474
up €43,474 (+18.6%), from €233,816 to €277,290
- Intangible fixed assets +€13,154
new in 2025: €13,154
- Tangible fixed assets -€12,722
down €12,722 (-27.2%), from €46,777 to €34,056
of which Furniture and vehicles: -€9,579
- Other debts +€53,783
up €53,783 (+258%), from €20,882 to €74,665
- Reserves +€50,882
up €50,882 (+21.7%), from €234,881 to €285,763
of which Distributable reserves: +€50,882
- Tax, wage and social debts +€48,116
up €48,116 (+256%), from €18,809 to €66,925
of which Taxes: +€49,576
- Trade debts +€9,541
up €9,541 (+4.1%), from €232,524 to €242,066
- Debts after one year +€8,461
up €8,461 (+22.8%), from €37,182 to €45,643
- Gross operating margin +€101,228
up €101,228 (+36.4%), from €277,909 to €379,137
- Taxes +€23,625
up €23,625 (+84.7%), from €27,889 to €51,513
- Staff costs +€23,256
up €23,256 (+14.7%), from €158,581 to €181,836
- Depreciation +€7,450
up €7,450 (+87.6%), from €8,504 to €15,954
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.
Derived cash bridge
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 | €623,339 | €808,825 | +€185,486 | +29.8% |
| Fixed assets | 21/28 | €46,777 | €47,210 | +€432 | +0.9% |
| Intangible fixed assets | 21 | - | €13,154 | +€13,154 | |
| Tangible fixed assets | 22/27 | €46,777 | €34,056 | -€12,722 | -27.2% |
| Land and buildings | 22 | €12,206 | €9,064 | -€3,142 | -25.7% |
| Furniture and vehicles | 24 | €34,571 | €24,992 | -€9,579 | -27.7% |
| Current assets | 29/58 | €576,562 | €761,615 | +€185,054 | +32.1% |
| Stocks and contracts in progress | 3 | €233,816 | €277,290 | +€43,474 | +18.6% |
| Stocks | 30/36 | €233,816 | €277,290 | +€43,474 | +18.6% |
| Amounts receivable within one year | 40/41 | €211,984 | €276,856 | +€64,871 | +30.6% |
| Trade receivables | 40 | €208,788 | €211,729 | +€2,941 | +1.4% |
| Other amounts receivable | 41 | €3,196 | €65,127 | +€61,930 | +1,937% |
| Cash at bank and in hand | 54/58 | €128,482 | €206,328 | +€77,846 | +60.6% |
| Deferred charges and accrued income | 490/1 | €2,279 | €1,142 | -€1,138 | -49.9% |
| Total equity and liabilities | 10/49 | €623,339 | €808,825 | +€185,486 | +29.8% |
| Equity | 10/15 | €296,881 | €347,763 | +€50,882 | +17.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €234,881 | €285,763 | +€50,882 | +21.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €228,681 | €279,563 | +€50,882 | +22.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €326,458 | €461,062 | +€134,604 | +41.2% |
| Amounts payable after more than one year | 17 | €37,182 | €45,643 | +€8,461 | +22.8% |
| Financial debts | 170/4 | €37,182 | €45,643 | +€8,461 | +22.8% |
| Amounts payable within one year | 42/48 | €289,276 | €409,002 | +€119,727 | +41.4% |
| Current portion of amounts payable after more than one year | 42 | €17,061 | €25,347 | +€8,286 | +48.6% |
| Trade debts | 44 | €232,524 | €242,066 | +€9,541 | +4.1% |
| Suppliers | 440/4 | €232,524 | €242,066 | +€9,541 | +4.1% |
| Taxes, remuneration and social security | 45 | €18,809 | €66,925 | +€48,116 | +256% |
| Taxes | 450/3 | €4,671 | €54,246 | +€49,576 | +1,061% |
| Remuneration and social security | 454/9 | €14,138 | €12,678 | -€1,460 | -10.3% |
| Other amounts payable | 47/48 | €20,882 | €74,665 | +€53,783 | +258% |
| Accrued charges and deferred income | 492/3 | - | €6,416 | +€6,416 | |
| Remuneration, social security and pensions | 62 | €158,581 | €181,836 | +€23,256 | +14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,504 | €15,954 | +€7,450 | +87.6% |
| Other operating charges | 640/8 | €7,155 | €7,144 | -€11 | -0.2% |
| Gross operating margin | 9900 | €277,909 | €379,137 | +€101,228 | +36.4% |
| Operating profit (loss) | 9901 | €103,670 | €174,203 | +€70,533 | +68.0% |
| Financial income | 75/76B | €256 | €2,442 | +€2,186 | +853% |
| Recurring financial income | 75 | €256 | €2,442 | +€2,186 | +853% |
| Financial charges | 65/66B | €8,342 | €7,305 | -€1,036 | -12.4% |
| Recurring financial charges | 65 | €8,342 | €7,305 | -€1,036 | -12.4% |
| Profit (loss) for the period before taxes | 9903 | €95,585 | €169,340 | +€73,755 | +77.2% |
| Income taxes | 67/77 | €27,889 | €51,513 | +€23,625 | +84.7% |
| Profit (loss) for the period | 9904 | €67,696 | €117,827 | +€50,131 | +74.1% |
| Profit (loss) for the period to be appropriated | 9905 | €67,696 | €117,827 | +€50,131 | +74.1% |
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 28 October 2026 via checked.be.