BOULET: 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.
BOULET
Largest movements
- Stocks and contracts -€7,278
down €7,278 (-13.5%), from €53,984 to €46,706
- Receivables within one year -€4,570
down €4,570 (-96.1%), from €4,758 to €187
of which Other amounts receivable: -€4,160
- Cash -€4,550
down €4,550 (-8.5%), from €53,493 to €48,943
mainly Net result for the year (-€16,199) and Other debts (-€1,809)
- Tangible fixed assets -€1,790
down €1,790 (-65.6%), from €2,729 to €940
of which Furniture and vehicles: -€1,067
- Reserves -€16,199
down €16,199 (-20.5%), from €79,174 to €62,975
- Other debts -€1,809
down €1,809 (-8.4%), from €21,457 to €19,648
- Gross operating margin -€171
down €171 (-1.4%), from -€12,622 to -€12,794
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 | €114,964 | €96,776 | -€18,188 | -15.8% |
| Fixed assets | 21/28 | €2,729 | €940 | -€1,790 | -65.6% |
| Tangible fixed assets | 22/27 | €2,729 | €940 | -€1,790 | -65.6% |
| Plant, machinery and equipment | 23 | €1,313 | €590 | -€723 | -55.0% |
| Furniture and vehicles | 24 | €1,417 | €350 | -€1,067 | -75.3% |
| Current assets | 29/58 | €112,235 | €95,836 | -€16,398 | -14.6% |
| Stocks and contracts in progress | 3 | €53,984 | €46,706 | -€7,278 | -13.5% |
| Stocks | 30/36 | €53,984 | €46,706 | -€7,278 | -13.5% |
| Amounts receivable within one year | 40/41 | €4,758 | €187 | -€4,570 | -96.1% |
| Trade receivables | 40 | €410 | - | -€410 | |
| Other amounts receivable | 41 | €4,348 | €187 | -€4,160 | -95.7% |
| Cash at bank and in hand | 54/58 | €53,493 | €48,943 | -€4,550 | -8.5% |
| Total equity and liabilities | 10/49 | €114,964 | €96,776 | -€18,188 | -15.8% |
| Equity | 10/15 | €91,574 | €75,375 | -€16,199 | -17.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €79,174 | €62,975 | -€16,199 | -20.5% |
| Distributable reserves | 133 | €79,174 | €62,975 | -€16,199 | -20.5% |
| Amounts payable | 17/49 | €23,391 | €21,402 | -€1,989 | -8.5% |
| Amounts payable within one year | 42/48 | €23,391 | €21,402 | -€1,989 | -8.5% |
| Trade debts | 44 | €1,934 | €1,753 | -€180 | -9.3% |
| Suppliers | 440/4 | €1,934 | €1,753 | -€180 | -9.3% |
| Other amounts payable | 47/48 | €21,457 | €19,648 | -€1,809 | -8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,790 | €1,790 | +€0 | 0.0% |
| Other operating charges | 640/8 | €513 | €527 | +€14 | +2.8% |
| Gross operating margin | 9900 | -€12,622 | -€12,794 | -€171 | -1.4% |
| Operating profit (loss) | 9901 | -€14,925 | -€15,111 | -€186 | -1.2% |
| Financial charges | 65/66B | €1,121 | €1,088 | -€33 | -2.9% |
| Recurring financial charges | 65 | €1,121 | €1,088 | -€33 | -2.9% |
| Profit (loss) for the period before taxes | 9903 | -€16,046 | -€16,199 | -€153 | -1.0% |
| Profit (loss) for the period | 9904 | -€16,046 | -€16,199 | -€153 | -1.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,046 | -€16,199 | -€153 | -1.0% |
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 13 October 2026 via checked.be.