Boulevard Bikes: 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.
Boulevard Bikes
Largest movements
- Tangible fixed assets +€600,497
up €600,497 (+368%), from €162,968 to €763,464
of which Land and buildings: +€624,302
- Intangible fixed assets -€20,000
down €20,000 (-44.5%), from €44,922 to €24,922
- Debts after one year +€397,527
up €397,527 (+336%), from €118,227 to €515,754
- Other debts +€90,344
up €90,344 (+310%), from €29,186 to €119,530
- Current portion of long-term debt +€84,808
up €84,808 (+141%), from €60,268 to €145,076
- Gross operating margin +€67,332
up €67,332 (+61.9%), from €108,753 to €176,085
- Depreciation +€39,823
up €39,823 (+44.4%), from €89,600 to €129,422
- Financial charges +€21,258
up €21,258 (+231%), from €9,198 to €30,456
- Other operating charges +€2,463
up €2,463 (+112%), from €2,206 to €4,669
- Taxes +€2,355
up €2,355 (+576%), from €409 to €2,764
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 | €276,520 | €855,817 | +€579,297 | +209% |
| Fixed assets | 21/28 | €209,307 | €789,804 | +€580,497 | +277% |
| Intangible fixed assets | 21 | €44,922 | €24,922 | -€20,000 | -44.5% |
| Tangible fixed assets | 22/27 | €162,968 | €763,464 | +€600,497 | +368% |
| Land and buildings | 22 | - | €624,302 | +€624,302 | |
| Plant, machinery and equipment | 23 | €159,545 | €136,990 | -€22,555 | -14.1% |
| Furniture and vehicles | 24 | €3,422 | €2,172 | -€1,250 | -36.5% |
| Financial fixed assets | 28 | €1,417 | €1,417 | = | 0.0% |
| Current assets | 29/58 | €67,213 | €66,013 | -€1,200 | -1.8% |
| Amounts receivable within one year | 40/41 | €15,569 | €21,984 | +€6,415 | +41.2% |
| Trade receivables | 40 | €1,602 | €3,909 | +€2,306 | +144% |
| Other amounts receivable | 41 | €13,967 | €18,075 | +€4,108 | +29.4% |
| Cash at bank and in hand | 54/58 | €45,657 | €39,359 | -€6,298 | -13.8% |
| Deferred charges and accrued income | 490/1 | €5,987 | €4,671 | -€1,316 | -22.0% |
| Total equity and liabilities | 10/49 | €276,520 | €855,817 | +€579,297 | +209% |
| Equity | 10/15 | €58,822 | €66,148 | +€7,326 | +12.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €48,822 | €56,148 | +€7,326 | +15.0% |
| Distributable reserves | 133 | €48,822 | €56,148 | +€7,326 | +15.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €217,698 | €789,669 | +€571,971 | +263% |
| Amounts payable after more than one year | 17 | €118,227 | €515,754 | +€397,527 | +336% |
| Financial debts | 170/4 | €118,227 | €515,754 | +€397,527 | +336% |
| Amounts payable within one year | 42/48 | €99,302 | €273,821 | +€174,519 | +176% |
| Current portion of amounts payable after more than one year | 42 | €60,268 | €145,076 | +€84,808 | +141% |
| Trade debts | 44 | €6,691 | €3,102 | -€3,589 | -53.6% |
| Suppliers | 440/4 | €6,691 | €3,102 | -€3,589 | -53.6% |
| Taxes, remuneration and social security | 45 | €3,157 | €6,114 | +€2,956 | +93.6% |
| Taxes | 450/3 | €3,157 | €6,114 | +€2,956 | +93.6% |
| Other amounts payable | 47/48 | €29,186 | €119,530 | +€90,344 | +310% |
| Accrued charges and deferred income | 492/3 | €169 | €93 | -€76 | -44.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,600 | €129,422 | +€39,823 | +44.4% |
| Other operating charges | 640/8 | €2,206 | €4,669 | +€2,463 | +112% |
| Non-recurring operating charges | 66A | €4,684 | €0 | -€4,684 | -100% |
| Gross operating margin | 9900 | €108,753 | €176,085 | +€67,332 | +61.9% |
| Operating profit (loss) | 9901 | €12,264 | €41,994 | +€29,730 | +242% |
| Financial income | 75/76B | - | €217 | +€217 | |
| Recurring financial income | 75 | - | €217 | +€217 | |
| Financial charges | 65/66B | €9,198 | €30,456 | +€21,258 | +231% |
| Recurring financial charges | 65 | €9,198 | €30,456 | +€21,258 | +231% |
| Profit (loss) for the period before taxes | 9903 | €3,066 | €11,756 | +€8,689 | +283% |
| Income taxes | 67/77 | €409 | €2,764 | +€2,355 | +576% |
| Profit (loss) for the period | 9904 | €2,657 | €8,992 | +€6,335 | +238% |
| Profit (loss) for the period to be appropriated | 9905 | €2,657 | €8,992 | +€6,335 | +238% |
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 16 October 2026 via checked.be.