BOULE & RUU: 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.
BOULE & RUU
Largest movements
- Receivables after one year -€27,877
down €27,877 (-39.6%), from €70,452 to €42,575
- Receivables within one year +€24,627
up €24,627 (+342%), from €7,195 to €31,822
of which Trade receivables: +€17,675
- Cash -€13,887
down €13,887 (-59.6%), from €23,289 to €9,402
mainly Investment in fixed assets (net) (-€26,475) and Receivables within one year (-€24,627)
- Tangible fixed assets +€7,375
up €7,375 (+19.0%), from €38,717 to €46,092
of which Other tangible fixed assets: +€12,037
- Deferred charges and accrued income -€6,615
down €6,615 (-85.9%), from €7,700 to €1,085
- Tax, wage and social debts -€24,324
down €24,324 (-73.5%), from €33,106 to €8,782
of which Taxes: -€16,909
- Current portion of long-term debt +€7,344
up €7,344 (+139%), from €5,294 to €12,638
- Trade debts -€1,972
down €1,972 (-7.3%), from €27,186 to €25,214
- Debts after one year +€1,720
new in 2025: €1,720
- Taxes -€35,428
down €35,428, from €27,571 to -€7,857
- Staff costs +€31,806
up €31,806 (+29.5%), from €107,652 to €139,458
- Depreciation +€7,895
up €7,895 (+70.5%), from €11,205 to €19,100
- Gross operating margin +€6,758
up €6,758 (+4.7%), from €144,402 to €151,160
- Financial charges -€4,012
down €4,012 (-57.4%), from €6,984 to €2,972
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 | €154,182 | €137,045 | -€17,137 | -11.1% |
| Fixed assets | 21/28 | €38,717 | €46,092 | +€7,375 | +19.0% |
| Tangible fixed assets | 22/27 | €38,717 | €46,092 | +€7,375 | +19.0% |
| Land and buildings | 22 | €12,202 | €9,582 | -€2,620 | -21.5% |
| Plant, machinery and equipment | 23 | €820 | €4,791 | +€3,971 | +484% |
| Furniture and vehicles | 24 | €13,009 | €6,996 | -€6,013 | -46.2% |
| Other tangible fixed assets | 26 | €12,686 | €24,723 | +€12,037 | +94.9% |
| Current assets | 29/58 | €115,465 | €90,953 | -€24,512 | -21.2% |
| Amounts receivable after more than one year | 29 | €70,452 | €42,575 | -€27,877 | -39.6% |
| Other amounts receivable | 291 | €70,452 | €42,575 | -€27,877 | -39.6% |
| Stocks and contracts in progress | 3 | €6,829 | €6,069 | -€760 | -11.1% |
| Stocks | 30/36 | €6,829 | €6,069 | -€760 | -11.1% |
| Amounts receivable within one year | 40/41 | €7,195 | €31,822 | +€24,627 | +342% |
| Trade receivables | 40 | €7,195 | €24,870 | +€17,675 | +246% |
| Other amounts receivable | 41 | - | €6,952 | +€6,952 | |
| Cash at bank and in hand | 54/58 | €23,289 | €9,402 | -€13,887 | -59.6% |
| Deferred charges and accrued income | 490/1 | €7,700 | €1,085 | -€6,615 | -85.9% |
| Total equity and liabilities | 10/49 | €154,182 | €137,045 | -€17,137 | -11.1% |
| Equity | 10/15 | €88,595 | €88,690 | +€95 | +0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €26,860 | €26,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €43,135 | €43,230 | +€95 | +0.2% |
| Amounts payable | 17/49 | €65,587 | €48,355 | -€17,232 | -26.3% |
| Amounts payable after more than one year | 17 | - | €1,720 | +€1,720 | |
| Financial debts | 170/4 | - | €1,720 | +€1,720 | |
| Amounts payable within one year | 42/48 | €65,586 | €46,634 | -€18,952 | -28.9% |
| Current portion of amounts payable after more than one year | 42 | €5,294 | €12,638 | +€7,344 | +139% |
| Trade debts | 44 | €27,186 | €25,214 | -€1,972 | -7.3% |
| Suppliers | 440/4 | €27,186 | €25,214 | -€1,972 | -7.3% |
| Taxes, remuneration and social security | 45 | €33,106 | €8,782 | -€24,324 | -73.5% |
| Taxes | 450/3 | €21,064 | €4,155 | -€16,909 | -80.3% |
| Remuneration and social security | 454/9 | €12,042 | €4,627 | -€7,415 | -61.6% |
| Accrued charges and deferred income | 492/3 | €1 | €1 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €107,652 | €139,458 | +€31,806 | +29.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,205 | €19,100 | +€7,895 | +70.5% |
| Other operating charges | 640/8 | €3,172 | €2,083 | -€1,089 | -34.3% |
| Gross operating margin | 9900 | €144,402 | €151,160 | +€6,758 | +4.7% |
| Operating profit (loss) | 9901 | €22,373 | -€9,481 | -€31,854 | |
| Financial income | 75/76B | €3,824 | €4,691 | +€867 | +22.7% |
| Recurring financial income | 75 | €3,824 | €4,691 | +€867 | +22.7% |
| Financial charges | 65/66B | €6,984 | €2,972 | -€4,012 | -57.4% |
| Recurring financial charges | 65 | €6,984 | €2,972 | -€4,012 | -57.4% |
| Profit (loss) for the period before taxes | 9903 | €19,213 | -€7,762 | -€26,975 | |
| Income taxes | 67/77 | €27,571 | -€7,857 | -€35,428 | |
| Profit (loss) for the period | 9904 | -€8,358 | €95 | +€8,453 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,358 | €95 | +€8,453 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.