Boterbergh: 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.
Boterbergh
Largest movements
- Cash -€178,359
down €178,359 (-85.2%), from €209,425 to €31,066
mainly Contributions, distributions and other (-€305,000) and Receivables within one year (-€111,187)
- Receivables within one year +€111,187
up €111,187 (+696.4%), from €15,967 to €127,154
of which Trade receivables: +€118,453
- Tangible fixed assets -€16,277
down €16,277 (-16.6%), from €98,058 to €81,781
of which Land and buildings: -€12,023
- Reserves -€98,789
down €98,789 (-41.4%), from €238,675 to €139,886
- Tax, wage and social debts +€21,332
new in 2025: €21,332
- Debts after one year -€9,988
down €9,988 (-17.5%), from €57,014 to €47,026
- Other debts +€9,666
up €9,666 (+67.6%), from €14,298 to €23,964
- Current portion of long-term debt -€4,650
down €4,650 (-31.8%), from €14,638 to €9,988
- Gross operating margin +€45,629
up €45,629 (+18.2%), from €250,412 to €296,041
- Taxes +€18,315
up €18,315 (+35.9%), from €51,017 to €69,332
- Depreciation -€5,849
down €5,849 (-22.9%), from €25,516 to €19,667
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 | €330,445 | €248,790 | -€81,655 | -24.7% |
| Fixed assets | 21/28 | €99,058 | €82,781 | -€16,277 | -16.4% |
| Tangible fixed assets | 22/27 | €98,058 | €81,781 | -€16,277 | -16.6% |
| Land and buildings | 22 | €88,923 | €76,900 | -€12,023 | -13.5% |
| Plant, machinery and equipment | 23 | €3,401 | €1,881 | -€1,520 | -44.7% |
| Furniture and vehicles | 24 | €5,734 | €3,000 | -€2,734 | -47.7% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €231,387 | €166,009 | -€65,378 | -28.3% |
| Amounts receivable within one year | 40/41 | €15,967 | €127,154 | +€111,187 | +696.4% |
| Trade receivables | 40 | €8,701 | €127,154 | +€118,453 | +1361.4% |
| Other amounts receivable | 41 | €7,266 | - | -€7,266 | |
| Cash at bank and in hand | 54/58 | €209,425 | €31,066 | -€178,359 | -85.2% |
| Deferred charges and accrued income | 490/1 | €5,995 | €7,789 | +€1,794 | +29.9% |
| Total equity and liabilities | 10/49 | €330,445 | €248,790 | -€81,655 | -24.7% |
| Equity | 10/15 | €243,675 | €144,886 | -€98,789 | -40.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €238,675 | €139,886 | -€98,789 | -41.4% |
| Distributable reserves | 133 | €238,675 | €139,886 | -€98,789 | -41.4% |
| Amounts payable | 17/49 | €86,770 | €103,904 | +€17,134 | +19.7% |
| Amounts payable after more than one year | 17 | €57,014 | €47,026 | -€9,988 | -17.5% |
| Financial debts | 170/4 | €57,014 | €47,026 | -€9,988 | -17.5% |
| Amounts payable within one year | 42/48 | €28,936 | €56,050 | +€27,114 | +93.7% |
| Current portion of amounts payable after more than one year | 42 | €14,638 | €9,988 | -€4,650 | -31.8% |
| Trade debts | 44 | - | €766 | +€766 | |
| Suppliers | 440/4 | - | €766 | +€766 | |
| Taxes, remuneration and social security | 45 | - | €21,332 | +€21,332 | |
| Taxes | 450/3 | - | €21,332 | +€21,332 | |
| Other amounts payable | 47/48 | €14,298 | €23,964 | +€9,666 | +67.6% |
| Accrued charges and deferred income | 492/3 | €820 | €828 | +€8 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,516 | €19,667 | -€5,849 | -22.9% |
| Gross operating margin | 9900 | €250,412 | €296,041 | +€45,629 | +18.2% |
| Operating profit (loss) | 9901 | €224,896 | €276,374 | +€51,478 | +22.9% |
| Financial charges | 65/66B | €1,771 | €831 | -€940 | -53.1% |
| Recurring financial charges | 65 | €1,771 | €831 | -€940 | -53.1% |
| Profit (loss) for the period before taxes | 9903 | €223,125 | €275,543 | +€52,418 | +23.5% |
| Income taxes | 67/77 | €51,017 | €69,332 | +€18,315 | +35.9% |
| Profit (loss) for the period | 9904 | €172,108 | €206,211 | +€34,103 | +19.8% |
| Profit (loss) for the period to be appropriated | 9905 | €172,108 | €206,211 | +€34,103 | +19.8% |
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 8 October 2026 via checked.be.