BOTERDAELE ERIK: 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.
BOTERDAELE ERIK
Largest movements
- Cash -€86,047
down €86,047 (-57.7%), from €149,235 to €63,188
mainly Investment in fixed assets (net) (-€159,946) and Tax, wage and social debts (-€69,244)
- Tangible fixed assets +€82,074
up €82,074 (+11.4%), from €722,687 to €804,760
of which Land and buildings: +€91,261
- Deferred charges and accrued income -€16,598
down €16,598 (-58.1%), from €28,555 to €11,957
- Receivables within one year -€13,726
down €13,726 (-13.8%), from €99,402 to €85,676
of which Other amounts receivable: -€11,326
- Tax, wage and social debts -€69,244
down €69,244 (-72.5%), from €95,503 to €26,258
of which Taxes: -€75,442
- Reserves +€51,162
up €51,162 (+8.0%), from €638,415 to €689,576
of which Distributable reserves: +€54,382
- Trade debts -€44,796
down €44,796 (-37.0%), from €121,205 to €76,409
- Debts after one year +€27,581
up €27,581 (+11.2%), from €246,368 to €273,949
of which Financial debts: +€30,645
- Gross operating margin +€63,143
up €63,143 (+12.0%), from €527,755 to €590,898
- Depreciation +€14,307
up €14,307 (+22.5%), from €63,565 to €77,872
- Staff costs +€8,366
up €8,366 (+2.2%), from €388,035 to €396,401
- Taxes +€8,128
up €8,128 (+49.9%), from €16,291 to €24,418
- Financial income -€6,634
down €6,634 (-69.9%), from €9,492 to €2,857
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 | €1,231,276 | €1,203,004 | -€28,272 | -2.3% |
| Fixed assets | 21/28 | €723,072 | €805,145 | +€82,074 | +11.4% |
| Tangible fixed assets | 22/27 | €722,687 | €804,760 | +€82,074 | +11.4% |
| Land and buildings | 22 | €584,644 | €675,906 | +€91,261 | +15.6% |
| Plant, machinery and equipment | 23 | €123,011 | €123,848 | +€837 | +0.7% |
| Furniture and vehicles | 24 | €12,673 | €3,576 | -€9,097 | -71.8% |
| Leasing and similar rights | 25 | €2,359 | €1,431 | -€928 | -39.3% |
| Financial fixed assets | 28 | €385 | €385 | = | 0.0% |
| Current assets | 29/58 | €508,204 | €397,858 | -€110,346 | -21.7% |
| Stocks and contracts in progress | 3 | €231,012 | €237,037 | +€6,025 | +2.6% |
| Stocks | 30/36 | €231,012 | €237,037 | +€6,025 | +2.6% |
| Amounts receivable within one year | 40/41 | €99,402 | €85,676 | -€13,726 | -13.8% |
| Trade receivables | 40 | €70,674 | €68,274 | -€2,400 | -3.4% |
| Other amounts receivable | 41 | €28,728 | €17,402 | -€11,326 | -39.4% |
| Cash at bank and in hand | 54/58 | €149,235 | €63,188 | -€86,047 | -57.7% |
| Deferred charges and accrued income | 490/1 | €28,555 | €11,957 | -€16,598 | -58.1% |
| Total equity and liabilities | 10/49 | €1,231,276 | €1,203,004 | -€28,272 | -2.3% |
| Equity | 10/15 | €692,438 | €743,600 | +€51,162 | +7.4% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €638,415 | €689,576 | +€51,162 | +8.0% |
| Tax-exempt reserves | 132 | €104,624 | €101,403 | -€3,221 | -3.1% |
| Distributable reserves | 133 | €533,791 | €588,173 | +€54,382 | +10.2% |
| Profit (loss) carried forward | 14 | €33,563 | €33,563 | = | 0.0% |
| Amounts payable | 17/49 | €538,837 | €459,404 | -€79,433 | -14.7% |
| Amounts payable after more than one year | 17 | €246,368 | €273,949 | +€27,581 | +11.2% |
| Financial debts | 170/4 | €237,283 | €267,928 | +€30,645 | +12.9% |
| Other amounts payable | 178/9 | €9,085 | €6,020 | -€3,064 | -33.7% |
| Amounts payable within one year | 42/48 | €292,470 | €185,456 | -€107,014 | -36.6% |
| Current portion of amounts payable after more than one year | 42 | €75,762 | €82,788 | +€7,026 | +9.3% |
| Trade debts | 44 | €121,205 | €76,409 | -€44,796 | -37.0% |
| Suppliers | 440/4 | €121,205 | €76,409 | -€44,796 | -37.0% |
| Taxes, remuneration and social security | 45 | €95,503 | €26,258 | -€69,244 | -72.5% |
| Taxes | 450/3 | €78,778 | €3,336 | -€75,442 | -95.8% |
| Remuneration and social security | 454/9 | €16,725 | €22,922 | +€6,197 | +37.1% |
| Remuneration, social security and pensions | 62 | €388,035 | €396,401 | +€8,366 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,565 | €77,872 | +€14,307 | +22.5% |
| Other operating charges | 640/8 | €11,678 | €13,714 | +€2,037 | +17.4% |
| Gross operating margin | 9900 | €527,755 | €590,898 | +€63,143 | +12.0% |
| Operating profit (loss) | 9901 | €64,477 | €102,910 | +€38,433 | +59.6% |
| Financial income | 75/76B | €9,492 | €2,857 | -€6,634 | -69.9% |
| Recurring financial income | 75 | €9,492 | €2,857 | -€6,634 | -69.9% |
| Financial charges | 65/66B | €28,665 | €30,188 | +€1,523 | +5.3% |
| Recurring financial charges | 65 | €28,665 | €30,188 | +€1,523 | +5.3% |
| Profit (loss) for the period before taxes | 9903 | €45,304 | €75,580 | +€30,276 | +66.8% |
| Income taxes | 67/77 | €16,291 | €24,418 | +€8,128 | +49.9% |
| Profit (loss) for the period | 9904 | €29,013 | €51,162 | +€22,148 | +76.3% |
| Transfer from tax-exempt reserves | 789 | €3,221 | €3,221 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €32,234 | €54,382 | +€22,148 | +68.7% |
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.