BOXTER: 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.
BOXTER
Largest movements
- Cash -€1.4m
down €1.4m (-74.4%), from €1.9m to €488,593
mainly Receivables within one year (-€1.2m) and Net result for the year (-€248,113)
- Receivables within one year +€1.2m
up €1.2m (+57.7%), from €2.1m to €3.4m
of which Other amounts receivable: +€1.0m
- Profit (loss) carried forward -€248,113
down €248,113 (-5.5%), from €4.5m to €4.3m
- Trade debts +€65,628
up €65,628 (+393.2%), from €16,691 to €82,319
- Taxes +€286,327
up €286,327 (+1979.6%), from €14,464 to €300,791
- Financial charges +€66,936
up €66,936 (+506.6%), from €13,212 to €80,148
- Gross operating margin +€37,484
up €37,484 (+34.5%), from €108,520 to €146,004
- Financial income +€25,908
up €25,908 (+36.7%), from €70,622 to €96,530
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 | €5,444,174 | €5,264,777 | -€179,397 | -3.3% |
| Fixed assets | 21/28 | €1,374,463 | €1,348,594 | -€25,869 | -1.9% |
| Tangible fixed assets | 22/27 | €786,086 | €760,217 | -€25,869 | -3.3% |
| Land and buildings | 22 | €786,086 | €760,217 | -€25,869 | -3.3% |
| Financial fixed assets | 28 | €588,377 | €588,377 | = | 0.0% |
| Current assets | 29/58 | €4,069,711 | €3,916,183 | -€153,528 | -3.8% |
| Amounts receivable within one year | 40/41 | €2,149,425 | €3,390,540 | +€1.2m | +57.7% |
| Trade receivables | 40 | €32,670 | €226,695 | +€194,025 | +593.9% |
| Other amounts receivable | 41 | €2,116,755 | €3,163,845 | +€1.0m | +49.5% |
| Cash at bank and in hand | 54/58 | €1,908,433 | €488,593 | -€1.4m | -74.4% |
| Deferred charges and accrued income | 490/1 | €11,853 | €37,050 | +€25,197 | +212.6% |
| Total equity and liabilities | 10/49 | €5,444,174 | €5,264,777 | -€179,397 | -3.3% |
| Equity | 10/15 | €5,405,449 | €5,157,336 | -€248,113 | -4.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €875,859 | €875,859 | = | 0.0% |
| Distributable reserves | 133 | €875,859 | €875,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,517,190 | €4,269,077 | -€248,113 | -5.5% |
| Amounts payable | 17/49 | €38,725 | €107,441 | +€68,716 | +177.4% |
| Amounts payable within one year | 42/48 | €38,725 | €107,441 | +€68,716 | +177.4% |
| Trade debts | 44 | €16,691 | €82,319 | +€65,628 | +393.2% |
| Suppliers | 440/4 | €16,691 | €82,319 | +€65,628 | +393.2% |
| Taxes, remuneration and social security | 45 | €22,034 | €25,122 | +€3,088 | +14.0% |
| Taxes | 450/3 | €10,718 | €13,442 | +€2,724 | +25.4% |
| Remuneration and social security | 454/9 | €11,316 | €11,680 | +€364 | +3.2% |
| Remuneration, social security and pensions | 62 | €74,358 | €73,315 | -€1,043 | -1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,870 | €25,869 | -€1 | 0.0% |
| Other operating charges | 640/8 | €10,268 | €10,524 | +€256 | +2.5% |
| Gross operating margin | 9900 | €108,520 | €146,004 | +€37,484 | +34.5% |
| Operating profit (loss) | 9901 | -€1,976 | €36,296 | +€38,272 | |
| Financial income | 75/76B | €70,622 | €96,530 | +€25,908 | +36.7% |
| Recurring financial income | 75 | €70,622 | €96,530 | +€25,908 | +36.7% |
| Financial charges | 65/66B | €13,212 | €80,148 | +€66,936 | +506.6% |
| Recurring financial charges | 65 | €13,212 | €80,148 | +€66,936 | +506.6% |
| Profit (loss) for the period before taxes | 9903 | €55,434 | €52,678 | -€2,756 | -5.0% |
| Income taxes | 67/77 | €14,464 | €300,791 | +€286,327 | +1979.6% |
| Profit (loss) for the period | 9904 | €40,970 | -€248,113 | -€289,083 | |
| Profit (loss) for the period to be appropriated | 9905 | €40,970 | -€248,113 | -€289,083 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.