BOULA: 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.
BOULA
Largest movements
- Tangible fixed assets -€18,998
down €18,998 (-46.7%), from €40,648 to €21,650
- Cash +€13,818
up €13,818 (+20.8%), from €66,442 to €80,260
- Receivables within one year +€12,517
up €12,517 (+273.0%), from €4,584 to €17,101
of which Other amounts receivable: +€12,486
- Deferred charges and accrued income +€1,757
up €1,757, from €0 to €1,757
- Reserves +€29,544
up €29,544 (+44.0%), from €67,109 to €96,653
of which Distributable reserves: +€29,544
- Other debts -€18,316
down €18,316 (-100.0%), from €18,316 to €0
- Trade debts -€2,685
down €2,685 (-70.0%), from €3,834 to €1,149
- Gross operating margin -€19,355
down €19,355 (-37.6%), from €51,409 to €32,054
- Taxes -€5,333
down €5,333 (-40.7%), from €13,096 to €7,763
- Depreciation +€4,120
up €4,120 (+82.2%), from €5,012 to €9,132
- Other operating charges -€3,391
down €3,391 (-77.9%), from €4,352 to €960
- Financial charges -€1,221
down €1,221, from €1,095 to -€126
From the 2023 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €128,674 | €138,269 | +€9,595 | +7.5% |
| Fixed assets | 21/28 | €57,648 | €39,150 | -€18,498 | -32.1% |
| Tangible fixed assets | 22/27 | €40,648 | €21,650 | -€18,998 | -46.7% |
| Furniture and vehicles | 24 | €40,648 | €21,650 | -€18,998 | -46.7% |
| Financial fixed assets | 28 | €17,000 | €17,500 | +€500 | +2.9% |
| Current assets | 29/58 | €71,026 | €99,119 | +€28,093 | +39.6% |
| Amounts receivable within one year | 40/41 | €4,584 | €17,101 | +€12,517 | +273.0% |
| Trade receivables | 40 | €3,881 | €3,913 | +€32 | +0.8% |
| Other amounts receivable | 41 | €703 | €13,188 | +€12,486 | +1776.7% |
| Cash at bank and in hand | 54/58 | €66,442 | €80,260 | +€13,818 | +20.8% |
| Deferred charges and accrued income | 490/1 | €0 | €1,757 | +€1,757 | |
| Total equity and liabilities | 10/49 | €128,674 | €138,269 | +€9,595 | +7.5% |
| Equity | 10/15 | €100,647 | €130,191 | +€29,544 | +29.4% |
| Contributions | 10/11 | €8,180 | €8,180 | = | 0.0% |
| Reserves | 13 | €67,109 | €96,653 | +€29,544 | +44.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €67,109 | €96,653 | +€29,544 | +44.0% |
| Profit (loss) carried forward | 14 | €25,357 | €25,357 | = | 0.0% |
| Amounts payable | 17/49 | €28,027 | €8,078 | -€19,949 | -71.2% |
| Amounts payable within one year | 42/48 | €26,982 | €6,191 | -€20,791 | -77.1% |
| Trade debts | 44 | €3,834 | €1,149 | -€2,685 | -70.0% |
| Suppliers | 440/4 | €3,834 | €1,149 | -€2,685 | -70.0% |
| Taxes, remuneration and social security | 45 | €4,832 | €5,043 | +€210 | +4.3% |
| Taxes | 450/3 | €4,832 | €5,043 | +€210 | +4.3% |
| Other amounts payable | 47/48 | €18,316 | €0 | -€18,316 | -100.0% |
| Accrued charges and deferred income | 492/3 | €1,045 | €1,887 | +€842 | +80.6% |
| Non-recurring operating income | 76A | €8,500 | - | -€8,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,012 | €9,132 | +€4,120 | +82.2% |
| Other operating charges | 640/8 | €4,352 | €960 | -€3,391 | -77.9% |
| Gross operating margin | 9900 | €51,409 | €32,054 | -€19,355 | -37.6% |
| Operating profit (loss) | 9901 | €42,046 | €21,962 | -€20,084 | -47.8% |
| Financial income | 75/76B | €170 | €4 | -€166 | -97.6% |
| Recurring financial income | 75 | €170 | €4 | -€166 | -97.6% |
| Financial charges | 65/66B | €1,095 | -€126 | -€1,221 | |
| Recurring financial charges | 65 | €1,095 | -€126 | -€1,221 | |
| Profit (loss) for the period before taxes | 9903 | €41,120 | €22,092 | -€19,029 | -46.3% |
| Income taxes | 67/77 | €13,096 | €7,763 | -€5,333 | -40.7% |
| Profit (loss) for the period | 9904 | €28,025 | €14,329 | -€13,696 | -48.9% |
| Profit (loss) for the period to be appropriated | 9905 | €28,025 | €14,329 | -€13,696 | -48.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.