BOXCON: 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.
BOXCON
Largest movements
- Receivables within one year +€491,478
up €491,478 (+158%), from €310,435 to €801,913
of which Other amounts receivable: +€429,346
- Cash -€359,722
down €359,722 (-39.2%), from €917,342 to €557,619
mainly Provisions (-€534,712) and Receivables within one year (-€491,478)
- Tangible fixed assets -€114,993
down €114,993 (-10.3%), from €1.1m to €1.0m
- Deferred charges and accrued income +€32,430
up €32,430 (+790%), from €4,108 to €36,538
- Debts after one year +€859,315
up €859,315 (+3,243%), from €26,495 to €885,810
- Provisions -€534,712
no longer reported in 2025 (was €534,712)
- Other debts -€227,000
down €227,000 (-21.7%), from €1.0m to €817,831
- Trade debts -€60,212
down €60,212 (-17.8%), from €339,157 to €278,945
- Financial charges +€87,216
up €87,216 (+28.3%), from €307,942 to €395,158
- Gross operating margin +€54,285
up €54,285 (+9.9%), from €550,917 to €605,202
- Depreciation -€13,495
down €13,495 (-10.5%), from €128,487 to €114,993
- Financial income +€7,354
up €7,354 (+148%), from €4,984 to €12,338
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 | €2,364,190 | €2,413,384 | +€49,194 | +2.1% |
| Fixed assets | 21/28 | €1,117,743 | €1,002,751 | -€114,993 | -10.3% |
| Tangible fixed assets | 22/27 | €1,117,743 | €1,002,751 | -€114,993 | -10.3% |
| Land and buildings | 22 | €657,050 | €615,388 | -€41,661 | -6.3% |
| Plant, machinery and equipment | 23 | €99,820 | €84,933 | -€14,887 | -14.9% |
| Furniture and vehicles | 24 | €82,206 | €61,879 | -€20,327 | -24.7% |
| Leasing and similar rights | 25 | €256,143 | €224,121 | -€32,021 | -12.5% |
| Other tangible fixed assets | 26 | €22,524 | €16,429 | -€6,095 | -27.1% |
| Current assets | 29/58 | €1,246,447 | €1,410,633 | +€164,186 | +13.2% |
| Stocks and contracts in progress | 3 | €14,562 | €14,562 | = | 0.0% |
| Stocks | 30/36 | €14,562 | €14,562 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €310,435 | €801,913 | +€491,478 | +158% |
| Trade receivables | 40 | €233,488 | €295,621 | +€62,132 | +26.6% |
| Other amounts receivable | 41 | €76,947 | €506,293 | +€429,346 | +558% |
| Cash at bank and in hand | 54/58 | €917,342 | €557,619 | -€359,722 | -39.2% |
| Deferred charges and accrued income | 490/1 | €4,108 | €36,538 | +€32,430 | +790% |
| Total equity and liabilities | 10/49 | €2,364,190 | €2,413,384 | +€49,194 | +2.1% |
| Equity | 10/15 | €377,118 | €379,776 | +€2,658 | +0.7% |
| Contributions | 10/11 | €350,000 | €350,000 | = | 0.0% |
| Reserves | 13 | €27,118 | €29,776 | +€2,658 | +9.8% |
| Non-distributable reserves | 130/1 | €13,419 | €13,419 | = | 0.0% |
| Reserves not available under the articles | 1311 | €13,419 | €13,419 | = | 0.0% |
| Distributable reserves | 133 | €13,699 | €16,357 | +€2,658 | +19.4% |
| Provisions and deferred taxes | 16 | €534,712 | - | -€534,712 | |
| Provisions for liabilities and charges | 160/5 | €534,712 | - | -€534,712 | |
| Other liabilities and charges | 164/5 | €534,712 | - | -€534,712 | |
| Amounts payable | 17/49 | €1,452,360 | €2,033,608 | +€581,248 | +40.0% |
| Amounts payable after more than one year | 17 | €26,495 | €885,810 | +€859,315 | +3,243% |
| Financial debts | 170/4 | €26,495 | €885,810 | +€859,315 | +3,243% |
| Amounts payable within one year | 42/48 | €1,425,865 | €1,137,798 | -€288,067 | -20.2% |
| Current portion of amounts payable after more than one year | 42 | €28,087 | €26,246 | -€1,840 | -6.6% |
| Trade debts | 44 | €339,157 | €278,945 | -€60,212 | -17.8% |
| Suppliers | 440/4 | €339,157 | €278,945 | -€60,212 | -17.8% |
| Advances received on contracts in progress | 46 | €74 | - | -€74 | |
| Taxes, remuneration and social security | 45 | €13,716 | €14,775 | +€1,059 | +7.7% |
| Taxes | 450/3 | €13,716 | €14,775 | +€1,059 | +7.7% |
| Other amounts payable | 47/48 | €1,044,831 | €817,831 | -€227,000 | -21.7% |
| Accrued charges and deferred income | 492/3 | - | €10,000 | +€10,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €128,487 | €114,993 | -€13,495 | -10.5% |
| Other operating charges | 640/8 | €15,585 | €13,304 | -€2,282 | -14.6% |
| Non-recurring operating charges | 66A | €485 | €247 | -€238 | -49.1% |
| Gross operating margin | 9900 | €550,917 | €605,202 | +€54,285 | +9.9% |
| Operating profit (loss) | 9901 | €406,359 | €476,658 | +€70,299 | +17.3% |
| Financial income | 75/76B | €4,984 | €12,338 | +€7,354 | +148% |
| Recurring financial income | 75 | €4,984 | €12,338 | +€7,354 | +148% |
| Financial charges | 65/66B | €307,942 | €395,158 | +€87,216 | +28.3% |
| Recurring financial charges | 65 | €307,942 | €395,158 | +€87,216 | +28.3% |
| Profit (loss) for the period before taxes | 9903 | €103,402 | €93,839 | -€9,563 | -9.2% |
| Income taxes | 67/77 | €4,056 | €3,180 | -€876 | -21.6% |
| Profit (loss) for the period | 9904 | €99,346 | €90,658 | -€8,687 | -8.7% |
| Profit (loss) for the period to be appropriated | 9905 | €99,346 | €90,658 | -€8,687 | -8.7% |
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 15 October 2026 via checked.be.