BOXL: 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.
BOXL
Largest movements
- Cash +€73,585
up €73,585 (+133%), from €55,419 to €129,004
mainly Net result for the year (+€80,683) and Other debts (+€57,143)
- Current investments -€25,000
no longer reported in 2025 (was €25,000)
- Tangible fixed assets -€3,004
down €3,004 (-42.4%), from €7,079 to €4,075
- Other debts +€57,143
up €57,143 (+295%), from €19,376 to €76,519
- Reserves -€9,317
down €9,317 (-16.6%), from €56,004 to €46,687
of which Distributable reserves: -€9,317
- Tax, wage and social debts -€2,044
down €2,044 (-25.0%), from €8,186 to €6,141
- Gross operating margin +€46,998
up €46,998 (+81.6%), from €57,607 to €104,605
- Taxes +€9,231
up €9,231 (+77.5%), from €11,909 to €21,139
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 | €103,174 | €148,087 | +€44,912 | +43.5% |
| Fixed assets | 21/28 | €7,079 | €4,075 | -€3,004 | -42.4% |
| Tangible fixed assets | 22/27 | €7,079 | €4,075 | -€3,004 | -42.4% |
| Furniture and vehicles | 24 | €7,079 | €4,075 | -€3,004 | -42.4% |
| Current assets | 29/58 | €96,095 | €144,012 | +€47,917 | +49.9% |
| Amounts receivable within one year | 40/41 | €15,676 | €15,008 | -€669 | -4.3% |
| Trade receivables | 40 | €15,676 | €14,907 | -€770 | -4.9% |
| Other amounts receivable | 41 | - | €101 | +€101 | |
| Current investments | 50/53 | €25,000 | - | -€25,000 | |
| Cash at bank and in hand | 54/58 | €55,419 | €129,004 | +€73,585 | +133% |
| Total equity and liabilities | 10/49 | €103,174 | €148,087 | +€44,912 | +43.5% |
| Equity | 10/15 | €74,604 | €65,287 | -€9,317 | -12.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €56,004 | €46,687 | -€9,317 | -16.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €54,144 | €44,827 | -€9,317 | -17.2% |
| Amounts payable | 17/49 | €28,570 | €82,800 | +€54,230 | +190% |
| Amounts payable within one year | 42/48 | €28,570 | €82,800 | +€54,230 | +190% |
| Trade debts | 44 | €1,009 | €139 | -€869 | -86.2% |
| Suppliers | 440/4 | €1,009 | €139 | -€869 | -86.2% |
| Taxes, remuneration and social security | 45 | €8,186 | €6,141 | -€2,044 | -25.0% |
| Taxes | 450/3 | €8,186 | €6,141 | -€2,044 | -25.0% |
| Other amounts payable | 47/48 | €19,376 | €76,519 | +€57,143 | +295% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,004 | €3,004 | -€0 | 0.0% |
| Other operating charges | 640/8 | €295 | €537 | +€243 | +82.4% |
| Gross operating margin | 9900 | €57,607 | €104,605 | +€46,998 | +81.6% |
| Operating profit (loss) | 9901 | €54,309 | €101,064 | +€46,755 | +86.1% |
| Financial income | 75/76B | €1,600 | €800 | -€800 | -50.0% |
| Recurring financial income | 75 | €1,600 | €800 | -€800 | -50.0% |
| Financial charges | 65/66B | €42 | €42 | = | 0.0% |
| Recurring financial charges | 65 | €42 | €42 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €55,867 | €101,822 | +€45,955 | +82.3% |
| Income taxes | 67/77 | €11,909 | €21,139 | +€9,231 | +77.5% |
| Profit (loss) for the period | 9904 | €43,958 | €80,683 | +€36,725 | +83.5% |
| Profit (loss) for the period to be appropriated | 9905 | €43,958 | €80,683 | +€36,725 | +83.5% |
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 21 October 2026 via checked.be.