BOUCLIER: 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.
BOUCLIER
Largest movements
- Receivables within one year -€31,079
down €31,079 (-23.2%), from €134,231 to €103,151
of which Trade receivables: -€25,853
- Tangible fixed assets +€26,098
up €26,098 (+98.9%), from €26,386 to €52,484
of which Furniture and vehicles: +€28,452
- Cash -€11,148
down €11,148 (-3.5%), from €319,114 to €307,966
mainly Investment in fixed assets (net) (-€49,043) and Tax, wage and social debts (-€21,073)
- Stocks and contracts -€10,309
down €10,309 (-9.3%), from €110,664 to €100,355
of which Contracts in progress: -€9,842
- Tax, wage and social debts -€21,073
down €21,073 (-20.0%), from €105,162 to €84,090
of which Remuneration and social security: -€22,649
- Other debts +€9,500
up €9,500 (+12.5%), from €75,756 to €85,256
- Trade debts -€6,902
down €6,902 (-13.0%), from €53,004 to €46,102
- Gross operating margin -€41,236
down €41,236 (-26.0%), from €158,622 to €117,387
- Staff costs -€38,882
down €38,882 (-34.6%), from €112,277 to €73,395
- Depreciation +€5,789
up €5,789 (+33.7%), from €17,156 to €22,945
- Other operating charges -€2,920
down €2,920 (-36.3%), from €8,045 to €5,125
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 | €595,088 | €568,966 | -€26,123 | -4.4% |
| Fixed assets | 21/28 | €28,036 | €54,135 | +€26,098 | +93.1% |
| Tangible fixed assets | 22/27 | €26,386 | €52,484 | +€26,098 | +98.9% |
| Land and buildings | 22 | €2,694 | €0 | -€2,694 | -100% |
| Plant, machinery and equipment | 23 | €174 | €2,147 | +€1,972 | +1,133% |
| Furniture and vehicles | 24 | €19,505 | €47,957 | +€28,452 | +146% |
| Other tangible fixed assets | 26 | €4,012 | €2,381 | -€1,632 | -40.7% |
| Financial fixed assets | 28 | €1,650 | €1,650 | = | 0.0% |
| Current assets | 29/58 | €567,052 | €514,831 | -€52,221 | -9.2% |
| Stocks and contracts in progress | 3 | €110,664 | €100,355 | -€10,309 | -9.3% |
| Stocks | 30/36 | €79,177 | €78,710 | -€467 | -0.6% |
| Contracts in progress | 37 | €31,487 | €21,645 | -€9,842 | -31.3% |
| Amounts receivable within one year | 40/41 | €134,231 | €103,151 | -€31,079 | -23.2% |
| Trade receivables | 40 | €119,989 | €94,135 | -€25,853 | -21.5% |
| Other amounts receivable | 41 | €14,242 | €9,016 | -€5,226 | -36.7% |
| Cash at bank and in hand | 54/58 | €319,114 | €307,966 | -€11,148 | -3.5% |
| Deferred charges and accrued income | 490/1 | €3,043 | €3,359 | +€315 | +10.4% |
| Total equity and liabilities | 10/49 | €595,088 | €568,966 | -€26,123 | -4.4% |
| Equity | 10/15 | €353,986 | €351,398 | -€2,587 | -0.7% |
| Contributions | 10/11 | €124,000 | €124,000 | = | 0.0% |
| Capital | 10 | €124,000 | €124,000 | = | 0.0% |
| Issued capital | 100 | €124,000 | €124,000 | = | 0.0% |
| Reserves | 13 | €229,986 | €227,398 | -€2,587 | -1.1% |
| Non-distributable reserves | 130/1 | €12,400 | €12,400 | = | 0.0% |
| Legal reserve | 130 | €12,400 | €12,400 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,367 | €2,367 | = | 0.0% |
| Distributable reserves | 133 | €215,218 | €212,631 | -€2,587 | -1.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €241,103 | €217,568 | -€23,535 | -9.8% |
| Amounts payable after more than one year | 17 | €2,120 | €0 | -€2,120 | -100% |
| Financial debts | 170/4 | €2,120 | €0 | -€2,120 | -100% |
| Amounts payable within one year | 42/48 | €238,983 | €217,568 | -€21,415 | -9.0% |
| Current portion of amounts payable after more than one year | 42 | €5,061 | €2,120 | -€2,941 | -58.1% |
| Trade debts | 44 | €53,004 | €46,102 | -€6,902 | -13.0% |
| Suppliers | 440/4 | €53,004 | €46,102 | -€6,902 | -13.0% |
| Taxes, remuneration and social security | 45 | €105,162 | €84,090 | -€21,073 | -20.0% |
| Taxes | 450/3 | €384 | €1,960 | +€1,576 | +410% |
| Remuneration and social security | 454/9 | €104,778 | €82,130 | -€22,649 | -21.6% |
| Other amounts payable | 47/48 | €75,756 | €85,256 | +€9,500 | +12.5% |
| Remuneration, social security and pensions | 62 | €112,277 | €73,395 | -€38,882 | -34.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,156 | €22,945 | +€5,789 | +33.7% |
| Other operating charges | 640/8 | €8,045 | €5,125 | -€2,920 | -36.3% |
| Gross operating margin | 9900 | €158,622 | €117,387 | -€41,236 | -26.0% |
| Operating profit (loss) | 9901 | €21,145 | €15,922 | -€5,223 | -24.7% |
| Financial income | 75/76B | €1,202 | €2,593 | +€1,391 | +116% |
| Recurring financial income | 75 | €1,202 | €2,593 | +€1,391 | +116% |
| Financial charges | 65/66B | €211 | €164 | -€47 | -22.3% |
| Recurring financial charges | 65 | €211 | €164 | -€47 | -22.3% |
| Profit (loss) for the period before taxes | 9903 | €22,135 | €18,351 | -€3,785 | -17.1% |
| Income taxes | 67/77 | €7,936 | €7,738 | -€198 | -2.5% |
| Profit (loss) for the period | 9904 | €14,199 | €10,613 | -€3,587 | -25.3% |
| Profit (loss) for the period to be appropriated | 9905 | €14,199 | €10,613 | -€3,587 | -25.3% |
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.