BOXMAKER: 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.
BOXMAKER
Largest movements
- Receivables within one year +€97,083
up €97,083 (+61.5%), from €157,851 to €254,933
of which Trade receivables: +€147,031
- Trade debts +€115,095
up €115,095 (+132.0%), from €87,181 to €202,276
- Other debts -€43,876
down €43,876 (-50.0%), from €87,686 to €43,809
- Reserves +€20,000
up €20,000 (+40.0%), from €50,000 to €70,000
- Tax, wage and social debts +€5,230
up €5,230 (+13.1%), from €39,910 to €45,141
of which Taxes: +€4,885
- Depreciation -€8,238
down €8,238 (-68.5%), from €12,031 to €3,792
- Gross operating margin +€6,180
up €6,180 (+2.5%), from €247,321 to €253,501
- Staff costs +€5,218
up €5,218 (+3.4%), from €154,972 to €160,189
- Taxes +€2,710
up €2,710 (+12.8%), from €21,138 to €23,849
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 | €334,818 | €431,275 | +€96,457 | +28.8% |
| Fixed assets | 21/28 | €6,394 | €2,602 | -€3,792 | -59.3% |
| Intangible fixed assets | 21 | €1,830 | €1,252 | -€578 | -31.6% |
| Tangible fixed assets | 22/27 | €4,564 | €1,350 | -€3,214 | -70.4% |
| Plant, machinery and equipment | 23 | €3,400 | €1,350 | -€2,050 | -60.3% |
| Furniture and vehicles | 24 | €1,164 | €0 | -€1,164 | -100.0% |
| Current assets | 29/58 | €328,424 | €428,673 | +€100,249 | +30.5% |
| Amounts receivable within one year | 40/41 | €157,851 | €254,933 | +€97,083 | +61.5% |
| Trade receivables | 40 | €107,780 | €254,811 | +€147,031 | +136.4% |
| Other amounts receivable | 41 | €50,071 | €123 | -€49,948 | -99.8% |
| Cash at bank and in hand | 54/58 | €163,236 | €165,211 | +€1,975 | +1.2% |
| Deferred charges and accrued income | 490/1 | €7,337 | €8,529 | +€1,191 | +16.2% |
| Total equity and liabilities | 10/49 | €334,818 | €431,275 | +€96,457 | +28.8% |
| Equity | 10/15 | €120,000 | €140,000 | +€20,000 | +16.7% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €50,000 | €70,000 | +€20,000 | +40.0% |
| Distributable reserves | 133 | €50,000 | €70,000 | +€20,000 | +40.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €214,818 | €291,275 | +€76,457 | +35.6% |
| Amounts payable within one year | 42/48 | €214,818 | €291,275 | +€76,457 | +35.6% |
| Financial debts | 43 | €41 | €49 | +€7 | +17.4% |
| Credit institutions | 430/8 | €41 | €49 | +€7 | +17.4% |
| Trade debts | 44 | €87,181 | €202,276 | +€115,095 | +132.0% |
| Suppliers | 440/4 | €87,181 | €202,276 | +€115,095 | +132.0% |
| Taxes, remuneration and social security | 45 | €39,910 | €45,141 | +€5,230 | +13.1% |
| Taxes | 450/3 | €19,530 | €24,414 | +€4,885 | +25.0% |
| Remuneration and social security | 454/9 | €20,381 | €20,726 | +€346 | +1.7% |
| Other amounts payable | 47/48 | €87,686 | €43,809 | -€43,876 | -50.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €154,972 | €160,189 | +€5,218 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,031 | €3,792 | -€8,238 | -68.5% |
| Other operating charges | 640/8 | €457 | €604 | +€148 | +32.3% |
| Non-recurring operating charges | 66A | €10,625 | €0 | -€10,625 | -100.0% |
| Gross operating margin | 9900 | €247,321 | €253,501 | +€6,180 | +2.5% |
| Operating profit (loss) | 9901 | €69,236 | €88,915 | +€19,679 | +28.4% |
| Financial income | 75/76B | €1,102 | €0 | -€1,102 | -100.0% |
| Recurring financial income | 75 | €1,102 | €0 | -€1,102 | -100.0% |
| Financial charges | 65/66B | €1,638 | €1,258 | -€381 | -23.2% |
| Recurring financial charges | 65 | €1,638 | €1,258 | -€381 | -23.2% |
| Profit (loss) for the period before taxes | 9903 | €68,700 | €87,658 | +€18,958 | +27.6% |
| Income taxes | 67/77 | €21,138 | €23,849 | +€2,710 | +12.8% |
| Profit (loss) for the period | 9904 | €47,562 | €63,809 | +€16,247 | +34.2% |
| Profit (loss) for the period to be appropriated | 9905 | €47,562 | €63,809 | +€16,247 | +34.2% |
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 28 September 2026 via checked.be.