Boulevart: 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.
Boulevart
Largest movements
- Receivables within one year +€210,253
up €210,253 (+642.2%), from €32,738 to €242,991
- Tangible fixed assets +€19,959
up €19,959 (+34.1%), from €58,483 to €78,442
of which Furniture and vehicles: +€21,278
- Deferred charges and accrued income +€13,671
up €13,671 (+121.6%), from €11,239 to €24,911
- Other debts +€183,964
up €183,964 (+254.2%), from €72,371 to €256,336
- Trade debts +€36,754
up €36,754 (+61.4%), from €59,817 to €96,571
- Tax, wage and social debts +€23,378
up €23,378 (+351.8%), from €6,646 to €30,024
- Purchases and services +€202,384
up €202,384 (+43.6%), from €464,453 to €666,836
- Gross operating margin +€107,897
up €107,897, from -€48,891 to €59,006
- Turnover +€98,325
new in 2025: €98,325
- Financial charges +€4,173
up €4,173 (+81.0%), from €5,156 to €9,329
- Depreciation +€2,900
up €2,900 (+9.5%), from €30,588 to €33,487
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.
Cash bridge derived
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 | €123,448 | €368,462 | +€245,014 | +198.5% |
| Fixed assets | 21/28 | €74,358 | €95,019 | +€20,661 | +27.8% |
| Tangible fixed assets | 22/27 | €58,483 | €78,442 | +€19,959 | +34.1% |
| Plant, machinery and equipment | 23 | €3,146 | €4,881 | +€1,735 | +55.2% |
| Furniture and vehicles | 24 | €20,643 | €41,921 | +€21,278 | +103.1% |
| Other tangible fixed assets | 26 | €34,694 | €31,639 | -€3,054 | -8.8% |
| Financial fixed assets | 28 | €15,875 | €16,577 | +€702 | +4.4% |
| Current assets | 29/58 | €49,090 | €273,443 | +€224,353 | +457.0% |
| Amounts receivable within one year | 40/41 | €32,738 | €242,991 | +€210,253 | +642.2% |
| Trade receivables | 40 | €32,738 | €242,991 | +€210,253 | +642.2% |
| Cash at bank and in hand | 54/58 | €5,112 | €5,542 | +€429 | +8.4% |
| Deferred charges and accrued income | 490/1 | €11,239 | €24,911 | +€13,671 | +121.6% |
| Total equity and liabilities | 10/49 | €123,448 | €368,462 | +€245,014 | +198.5% |
| Equity | 10/15 | -€15,387 | -€14,468 | +€919 | +6.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€83,587 | -€82,668 | +€919 | +1.1% |
| Amounts payable | 17/49 | €138,834 | €382,930 | +€244,096 | +175.8% |
| Amounts payable within one year | 42/48 | €138,834 | €382,930 | +€244,096 | +175.8% |
| Trade debts | 44 | €59,817 | €96,571 | +€36,754 | +61.4% |
| Suppliers | 440/4 | €59,817 | €96,571 | +€36,754 | +61.4% |
| Taxes, remuneration and social security | 45 | €6,646 | €30,024 | +€23,378 | +351.8% |
| Taxes | 450/3 | €6,646 | €30,024 | +€23,378 | +351.8% |
| Other amounts payable | 47/48 | €72,371 | €256,336 | +€183,964 | +254.2% |
| Turnover | 70 | - | €98,325 | +€98,325 | |
| Non-recurring operating income | 76A | €151 | - | -€151 | |
| Goods, raw materials, services and sundry goods | 60/61 | €464,453 | €666,836 | +€202,384 | +43.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,588 | €33,487 | +€2,900 | +9.5% |
| Other operating charges | 640/8 | €16,177 | €15,271 | -€906 | -5.6% |
| Gross operating margin | 9900 | -€48,891 | €59,006 | +€107,897 | |
| Operating profit (loss) | 9901 | -€95,655 | €10,248 | +€105,903 | |
| Financial charges | 65/66B | €5,156 | €9,329 | +€4,173 | +81.0% |
| Recurring financial charges | 65 | €5,156 | €9,329 | +€4,173 | +81.0% |
| Profit (loss) for the period before taxes | 9903 | -€100,811 | €919 | +€101,730 | |
| Income taxes | 67/77 | €0 | - | -€0 | |
| Profit (loss) for the period | 9904 | -€100,811 | €919 | +€101,730 | |
| Profit (loss) for the period to be appropriated | 9905 | -€100,811 | €919 | +€101,730 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.