BOUNDLESS: 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.
BOUNDLESS
Largest movements
- Tangible fixed assets -€211,978
down €211,978 (-10.7%), from €2.0m to €1.8m
of which Land and buildings: -€201,600
- Financial fixed assets +€61,376
up €61,376 (+9.3%), from €660,549 to €721,925
- Receivables within one year -€41,288
down €41,288 (-61.8%), from €66,843 to €25,555
of which Trade receivables: -€46,303
- Debts after one year -€224,665
down €224,665 (-16.6%), from €1.4m to €1.1m
- Trade debts -€163,425
down €163,425 (-94.9%), from €172,125 to €8,700
- Other debts +€156,150
up €156,150 (+26.7%), from €584,137 to €740,288
- Profit (loss) carried forward +€110,955
up €110,955 (+29.7%), from €373,021 to €483,977
- Reserves -€90,000
down €90,000 (-98.0%), from €91,860 to €1,860
- Other operating charges -€121,006
down €121,006 (-94.4%), from €128,249 to €7,242
- Financial charges +€53,027
up €53,027 (+164%), from €32,371 to €85,398
- Gross operating margin +€34,836
up €34,836 (+23.1%), from €150,746 to €185,583
- Financial income +€33,457
up €33,457 (+56.4%), from €59,343 to €92,800
- Depreciation +€32,102
up €32,102 (+75.6%), from €42,445 to €74,548
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 | €2,722,048 | €2,528,146 | -€193,902 | -7.1% |
| Fixed assets | 21/28 | €2,644,184 | €2,493,582 | -€150,602 | -5.7% |
| Tangible fixed assets | 22/27 | €1,983,635 | €1,771,657 | -€211,978 | -10.7% |
| Land and buildings | 22 | €1,956,630 | €1,755,030 | -€201,600 | -10.3% |
| Furniture and vehicles | 24 | €22,305 | €11,927 | -€10,378 | -46.5% |
| Other tangible fixed assets | 26 | €4,700 | €4,700 | = | 0.0% |
| Financial fixed assets | 28 | €660,549 | €721,925 | +€61,376 | +9.3% |
| Current assets | 29/58 | €77,864 | €34,563 | -€43,301 | -55.6% |
| Amounts receivable within one year | 40/41 | €66,843 | €25,555 | -€41,288 | -61.8% |
| Trade receivables | 40 | €61,258 | €14,955 | -€46,303 | -75.6% |
| Other amounts receivable | 41 | €5,585 | €10,600 | +€5,015 | +89.8% |
| Cash at bank and in hand | 54/58 | - | €4,849 | +€4,849 | |
| Deferred charges and accrued income | 490/1 | €11,021 | €4,159 | -€6,862 | -62.3% |
| Total equity and liabilities | 10/49 | €2,722,048 | €2,528,146 | -€193,902 | -7.1% |
| Equity | 10/15 | €483,481 | €504,437 | +€20,955 | +4.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €91,860 | €1,860 | -€90,000 | -98.0% |
| Distributable reserves | 133 | €91,860 | €1,860 | -€90,000 | -98.0% |
| Profit (loss) carried forward | 14 | €373,021 | €483,977 | +€110,955 | +29.7% |
| Amounts payable | 17/49 | €2,238,567 | €2,023,709 | -€214,858 | -9.6% |
| Amounts payable after more than one year | 17 | €1,353,565 | €1,128,899 | -€224,665 | -16.6% |
| Financial debts | 170/4 | €1,353,565 | €1,128,899 | -€224,665 | -16.6% |
| Amounts payable within one year | 42/48 | €885,002 | €856,359 | -€28,643 | -3.2% |
| Current portion of amounts payable after more than one year | 42 | €100,648 | €93,265 | -€7,383 | -7.3% |
| Financial debts | 43 | €4,932 | €8,000 | +€3,068 | +62.2% |
| Credit institutions | 430/8 | €4,932 | €8,000 | +€3,068 | +62.2% |
| Trade debts | 44 | €172,125 | €8,700 | -€163,425 | -94.9% |
| Suppliers | 440/4 | €172,125 | €8,700 | -€163,425 | -94.9% |
| Taxes, remuneration and social security | 45 | €23,159 | €6,106 | -€17,053 | -73.6% |
| Taxes | 450/3 | €20,201 | €5,663 | -€14,538 | -72.0% |
| Remuneration and social security | 454/9 | €2,959 | €443 | -€2,515 | -85.0% |
| Other amounts payable | 47/48 | €584,137 | €740,288 | +€156,150 | +26.7% |
| Accrued charges and deferred income | 492/3 | - | €38,451 | +€38,451 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,445 | €74,548 | +€32,102 | +75.6% |
| Other operating charges | 640/8 | €128,249 | €7,242 | -€121,006 | -94.4% |
| Gross operating margin | 9900 | €150,746 | €185,583 | +€34,836 | +23.1% |
| Operating profit (loss) | 9901 | -€19,947 | €103,793 | +€123,740 | |
| Financial income | 75/76B | €59,343 | €92,800 | +€33,457 | +56.4% |
| Recurring financial income | 75 | €59,343 | €92,800 | +€33,457 | +56.4% |
| Financial charges | 65/66B | €32,371 | €85,398 | +€53,027 | +164% |
| Recurring financial charges | 65 | €32,371 | €85,398 | +€53,027 | +164% |
| Profit (loss) for the period before taxes | 9903 | €7,025 | €111,195 | +€104,170 | +1,483% |
| Income taxes | 67/77 | €5,498 | €240 | -€5,258 | -95.6% |
| Profit (loss) for the period | 9904 | €1,527 | €110,955 | +€109,428 | +7,166% |
| Profit (loss) for the period to be appropriated | 9905 | €1,527 | €110,955 | +€109,428 | +7,166% |
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 18 October 2026 via checked.be.