Boston 4: 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.
Boston 4
Largest movements
- Tangible fixed assets +€4.5m
new in 2025: €4.5m
- Receivables within one year +€297,572
up €297,572 (+406%), from €73,373 to €370,945
of which Other amounts receivable: +€306,231
- Current investments +€188,642
up €188,642 (+18.0%), from €1.0m to €1.2m
- Contributions +€3.5m
up €3.5m (+6,900%), from €50,000 to €3.5m
- Debts after one year +€1.7m
new in 2025: €1.7m
- Profit (loss) carried forward -€113,065
down €113,065 (-3.2%), from €3.5m to €3.4m
- Tax, wage and social debts -€106,281
down €106,281 (-74.4%), from €142,914 to €36,634
- Financial income -€456,196
down €456,196 (-92.2%), from €494,610 to €38,415
- Financial charges +€110,309
up €110,309, from -€51,233 to €59,075
- Taxes -€47,949
down €47,949 (-94.2%), from €50,923 to €2,974
- Gross operating margin -€7,949
down €7,949 (-9.9%), from -€80,232 to -€88,181
- Other operating charges -€6,069
down €6,069 (-82.9%), from €7,318 to €1,250
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 | €3,784,219 | €8,752,473 | +€5.0m | +131% |
| Fixed assets | 21/28 | €200 | €4,537,208 | +€4.5m | +2,268,504% |
| Tangible fixed assets | 22/27 | - | €4,537,008 | +€4.5m | |
| Assets under construction and advance payments | 27 | - | €4,537,008 | +€4.5m | |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €3,784,019 | €4,215,266 | +€431,247 | +11.4% |
| Amounts receivable after more than one year | 29 | €2,526,352 | €2,526,352 | = | 0.0% |
| Trade receivables | 290 | €2,526,352 | €2,276,352 | -€250,000 | -9.9% |
| Other amounts receivable | 291 | - | €250,000 | +€250,000 | |
| Amounts receivable within one year | 40/41 | €73,373 | €370,945 | +€297,572 | +406% |
| Trade receivables | 40 | €27,186 | €18,527 | -€8,659 | -31.9% |
| Other amounts receivable | 41 | €46,187 | €352,418 | +€306,231 | +663% |
| Current investments | 50/53 | €1,045,210 | €1,233,852 | +€188,642 | +18.0% |
| Cash at bank and in hand | 54/58 | €138,786 | €78,818 | -€59,968 | -43.2% |
| Deferred charges and accrued income | 490/1 | €299 | €5,299 | +€5,000 | +1,674% |
| Total equity and liabilities | 10/49 | €3,784,219 | €8,752,473 | +€5.0m | +131% |
| Equity | 10/15 | €3,589,725 | €6,926,660 | +€3.3m | +93.0% |
| Contributions | 10/11 | €50,000 | €3,500,000 | +€3.5m | +6,900% |
| Reserves | 13 | €960 | €960 | = | 0.0% |
| Distributable reserves | 133 | €960 | €960 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,538,765 | €3,425,700 | -€113,065 | -3.2% |
| Amounts payable | 17/49 | €194,494 | €1,825,813 | +€1.6m | +839% |
| Amounts payable after more than one year | 17 | - | €1,701,731 | +€1.7m | |
| Financial debts | 170/4 | - | €1,701,731 | +€1.7m | |
| Amounts payable within one year | 42/48 | €155,766 | €89,148 | -€66,618 | -42.8% |
| Current portion of amounts payable after more than one year | 42 | - | €41,957 | +€41,957 | |
| Trade debts | 44 | €12,852 | €10,557 | -€2,294 | -17.9% |
| Suppliers | 440/4 | €12,852 | €10,557 | -€2,294 | -17.9% |
| Taxes, remuneration and social security | 45 | €142,914 | €36,634 | -€106,281 | -74.4% |
| Taxes | 450/3 | €142,914 | €36,634 | -€106,281 | -74.4% |
| Accrued charges and deferred income | 492/3 | €38,728 | €34,934 | -€3,794 | -9.8% |
| Other operating charges | 640/8 | €7,318 | €1,250 | -€6,069 | -82.9% |
| Gross operating margin | 9900 | -€80,232 | -€88,181 | -€7,949 | -9.9% |
| Operating profit (loss) | 9901 | -€87,550 | -€89,430 | -€1,880 | -2.1% |
| Financial income | 75/76B | €494,610 | €38,415 | -€456,196 | -92.2% |
| Recurring financial income | 75 | €494,610 | €38,415 | -€456,196 | -92.2% |
| Financial charges | 65/66B | -€51,233 | €59,075 | +€110,309 | |
| Recurring financial charges | 65 | -€51,233 | €59,075 | +€110,309 | |
| Profit (loss) for the period before taxes | 9903 | €458,294 | -€110,091 | -€568,385 | |
| Income taxes | 67/77 | €50,923 | €2,974 | -€47,949 | -94.2% |
| Profit (loss) for the period | 9904 | €407,371 | -€113,065 | -€520,436 | |
| Profit (loss) for the period to be appropriated | 9905 | €407,371 | -€113,065 | -€520,436 |
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 23 October 2026 via checked.be.