BOYEN: 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.
BOYEN
Largest movements
- Receivables within one year +€584,876
up €584,876 (+792.0%), from €73,845 to €658,721
of which Trade receivables: +€602,473
- Tangible fixed assets -€47,331
down €47,331 (-13.0%), from €362,850 to €315,519
of which Land and buildings: -€32,911
- Cash -€33,725
down €33,725 (-52.3%), from €64,523 to €30,798
mainly Receivables within one year (-€584,876) and Contributions, distributions and other (-€236,851)
- Other debts +€262,434
up €262,434 (+199.7%), from €131,409 to €393,843
- Profit (loss) carried forward +€155,427
up €155,427 (+78.0%), from €199,350 to €354,777
- Trade debts +€57,023
up €57,023 (+296.0%), from €19,264 to €76,287
- Tax, wage and social debts +€56,540
up €56,540 (+68.7%), from €82,243 to €138,783
of which Taxes: +€41,789
- Debts after one year -€28,053
down €28,053 (-8.8%), from €317,175 to €289,121
- Gross operating margin +€625,360
up €625,360 (+402.9%), from €155,231 to €780,591
- Staff costs +€84,767
up €84,767 (+126.9%), from €66,788 to €151,555
- Taxes +€56,702
up €56,702 (+765.9%), from €7,403 to €64,105
- Write-downs +€51,858
up €51,858 (+701.2%), from €7,396 to €59,253
- Depreciation +€28,052
up €28,052 (+78.3%), from €35,843 to €63,895
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 | €1,220,040 | €1,716,909 | +€496,869 | +40.7% |
| Fixed assets | 21/28 | €364,269 | €316,938 | -€47,331 | -13.0% |
| Tangible fixed assets | 22/27 | €362,850 | €315,519 | -€47,331 | -13.0% |
| Land and buildings | 22 | €309,537 | €276,626 | -€32,911 | -10.6% |
| Plant, machinery and equipment | 23 | €43,112 | €31,312 | -€11,800 | -27.4% |
| Furniture and vehicles | 24 | €10,201 | €7,581 | -€2,620 | -25.7% |
| Financial fixed assets | 28 | €1,419 | €1,419 | = | 0.0% |
| Current assets | 29/58 | €855,771 | €1,399,971 | +€544,200 | +63.6% |
| Stocks and contracts in progress | 3 | €717,402 | €710,452 | -€6,950 | -1.0% |
| Stocks | 30/36 | €717,402 | €710,452 | -€6,950 | -1.0% |
| Amounts receivable within one year | 40/41 | €73,845 | €658,721 | +€584,876 | +792.0% |
| Trade receivables | 40 | €51,248 | €653,721 | +€602,473 | +1175.6% |
| Other amounts receivable | 41 | €22,597 | €5,000 | -€17,597 | -77.9% |
| Cash at bank and in hand | 54/58 | €64,523 | €30,798 | -€33,725 | -52.3% |
| Total equity and liabilities | 10/49 | €1,220,040 | €1,716,909 | +€496,869 | +40.7% |
| Equity | 10/15 | €614,232 | €786,978 | +€172,746 | +28.1% |
| Contributions | 10/11 | €279,200 | €279,200 | = | 0.0% |
| Capital | 10 | €279,200 | €279,200 | = | 0.0% |
| Issued capital | 100 | €279,200 | €279,200 | = | 0.0% |
| Reserves | 13 | €135,682 | €153,001 | +€17,319 | +12.8% |
| Non-distributable reserves | 130/1 | €12,807 | €30,126 | +€17,319 | +135.2% |
| Legal reserve | 130 | €12,807 | €30,126 | +€17,319 | +135.2% |
| Tax-exempt reserves | 132 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €120,875 | €120,875 | = | 0.0% |
| Profit (loss) carried forward | 14 | €199,350 | €354,777 | +€155,427 | +78.0% |
| Amounts payable | 17/49 | €605,808 | €929,931 | +€324,123 | +53.5% |
| Amounts payable after more than one year | 17 | €317,175 | €289,121 | -€28,053 | -8.8% |
| Financial debts | 170/4 | €317,175 | €289,121 | -€28,053 | -8.8% |
| Amounts payable within one year | 42/48 | €288,633 | €640,810 | +€352,177 | +122.0% |
| Current portion of amounts payable after more than one year | 42 | €30,506 | €31,686 | +€1,180 | +3.9% |
| Financial debts | 43 | €25,211 | €211 | -€25,000 | -99.2% |
| Credit institutions | 430/8 | €25,211 | €211 | -€25,000 | -99.2% |
| Trade debts | 44 | €19,264 | €76,287 | +€57,023 | +296.0% |
| Suppliers | 440/4 | €19,264 | €76,287 | +€57,023 | +296.0% |
| Taxes, remuneration and social security | 45 | €82,243 | €138,783 | +€56,540 | +68.7% |
| Taxes | 450/3 | €70,885 | €112,674 | +€41,789 | +59.0% |
| Remuneration and social security | 454/9 | €11,358 | €26,110 | +€14,751 | +129.9% |
| Other amounts payable | 47/48 | €131,409 | €393,843 | +€262,434 | +199.7% |
| Remuneration, social security and pensions | 62 | €66,788 | €151,555 | +€84,767 | +126.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,843 | €63,895 | +€28,052 | +78.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,396 | €59,253 | +€51,858 | +701.2% |
| Other operating charges | 640/8 | €3,429 | €3,578 | +€150 | +4.4% |
| Gross operating margin | 9900 | €155,231 | €780,591 | +€625,360 | +402.9% |
| Operating profit (loss) | 9901 | €41,775 | €502,309 | +€460,534 | +1102.4% |
| Financial income | 75/76B | €0 | €439 | +€439 | +4391200.0% |
| Recurring financial income | 75 | €0 | €439 | +€439 | +4391200.0% |
| Financial charges | 65/66B | €5,768 | €29,047 | +€23,278 | +403.5% |
| Recurring financial charges | 65 | €5,768 | €29,047 | +€23,278 | +403.5% |
| Profit (loss) for the period before taxes | 9903 | €36,007 | €473,702 | +€437,695 | +1215.6% |
| Income taxes | 67/77 | €7,403 | €64,105 | +€56,702 | +765.9% |
| Profit (loss) for the period | 9904 | €28,604 | €409,597 | +€380,993 | +1332.0% |
| Profit (loss) for the period to be appropriated | 9905 | €28,604 | €409,597 | +€380,993 | +1332.0% |
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 12 October 2026 via checked.be.