David Bosquin: 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.
David Bosquin
Largest movements
- Cash +€47,832
up €47,832 (+37.8%), from €126,597 to €174,429
mainly Net result for the year (+€216,976) and Depreciation (+€21,724)
- Tangible fixed assets -€21,724
down €21,724 (-7.3%), from €298,140 to €276,416
of which Furniture and vehicles: -€15,209
- Current investments -€13,752
down €13,752 (-26.1%), from €52,731 to €38,979
- Profit (loss) carried forward +€116,976
up €116,976 (+736.2%), from €15,889 to €132,866
- Other debts -€54,582
down €54,582 (-33.4%), from €163,585 to €109,004
- Tax, wage and social debts -€29,077
down €29,077 (-87.5%), from €33,217 to €4,140
- Debts after one year -€20,431
down €20,431 (-10.2%), from €200,119 to €179,688
- Financial income -€24,985
down €24,985 (-14.0%), from €179,013 to €154,028
- Gross operating margin +€8,445
up €8,445 (+8.2%), from €102,814 to €111,260
- Taxes -€3,676
down €3,676 (-18.0%), from €20,457 to €16,781
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 | €487,437 | €501,285 | +€13,848 | +2.8% |
| Fixed assets | 21/28 | €301,140 | €279,416 | -€21,724 | -7.2% |
| Tangible fixed assets | 22/27 | €298,140 | €276,416 | -€21,724 | -7.3% |
| Land and buildings | 22 | €240,411 | €233,896 | -€6,515 | -2.7% |
| Furniture and vehicles | 24 | €57,729 | €42,520 | -€15,209 | -26.3% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €186,297 | €221,869 | +€35,572 | +19.1% |
| Amounts receivable within one year | 40/41 | €6,969 | €8,461 | +€1,492 | +21.4% |
| Trade receivables | 40 | €3,948 | €4,038 | +€89 | +2.3% |
| Other amounts receivable | 41 | €3,021 | €4,424 | +€1,403 | +46.4% |
| Current investments | 50/53 | €52,731 | €38,979 | -€13,752 | -26.1% |
| Cash at bank and in hand | 54/58 | €126,597 | €174,429 | +€47,832 | +37.8% |
| Total equity and liabilities | 10/49 | €487,437 | €501,285 | +€13,848 | +2.8% |
| Equity | 10/15 | €70,889 | €187,866 | +€116,976 | +165.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €50,000 | €50,000 | = | 0.0% |
| Distributable reserves | 133 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,889 | €132,866 | +€116,976 | +736.2% |
| Amounts payable | 17/49 | €416,547 | €313,419 | -€103,128 | -24.8% |
| Amounts payable after more than one year | 17 | €200,119 | €179,688 | -€20,431 | -10.2% |
| Financial debts | 170/4 | €200,119 | €179,688 | -€20,431 | -10.2% |
| Amounts payable within one year | 42/48 | €216,428 | €133,731 | -€82,697 | -38.2% |
| Current portion of amounts payable after more than one year | 42 | €19,625 | €20,431 | +€805 | +4.1% |
| Trade debts | 44 | - | €156 | +€156 | |
| Suppliers | 440/4 | - | €156 | +€156 | |
| Taxes, remuneration and social security | 45 | €33,217 | €4,140 | -€29,077 | -87.5% |
| Taxes | 450/3 | €33,217 | €4,140 | -€29,077 | -87.5% |
| Other amounts payable | 47/48 | €163,585 | €109,004 | -€54,582 | -33.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,724 | €21,724 | = | 0.0% |
| Other operating charges | 640/8 | €978 | €1,449 | +€471 | +48.2% |
| Gross operating margin | 9900 | €102,814 | €111,260 | +€8,445 | +8.2% |
| Operating profit (loss) | 9901 | €80,112 | €88,087 | +€7,974 | +10.0% |
| Financial income | 75/76B | €179,013 | €154,028 | -€24,985 | -14.0% |
| Recurring financial income | 75 | €179,013 | €154,028 | -€24,985 | -14.0% |
| Financial charges | 65/66B | €9,085 | €8,358 | -€728 | -8.0% |
| Recurring financial charges | 65 | €9,085 | €8,358 | -€728 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | €250,040 | €233,757 | -€16,283 | -6.5% |
| Income taxes | 67/77 | €20,457 | €16,781 | -€3,676 | -18.0% |
| Profit (loss) for the period | 9904 | €229,583 | €216,976 | -€12,606 | -5.5% |
| Profit (loss) for the period to be appropriated | 9905 | €229,583 | €216,976 | -€12,606 | -5.5% |
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 12 October 2026 via checked.be.