DB BOULANGER: 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.
DB BOULANGER
Largest movements
- Tangible fixed assets +€284,279
up €284,279 (+34.3%), from €828,762 to €1.1m
of which Land and buildings: +€269,989
- Cash +€124,340
up €124,340 (+1,741%), from €7,142 to €131,482
mainly Debts after one year (+€402,863) and Depreciation (+€32,972)
- Debts after one year +€402,863
up €402,863 (+194%), from €207,137 to €610,000
of which Financial debts: +€277,907
- Current portion of long-term debt +€25,200
new in 2025: €25,200
- Trade debts -€16,210
down €16,210 (-96.5%), from €16,804 to €594
- Financial charges +€18,323
up €18,323 (+516%), from €3,548 to €21,871
- Depreciation +€13,619
up €13,619 (+70.4%), from €19,353 to €32,972
- Gross operating margin +€11,584
up €11,584 (+29.6%), from €39,145 to €50,729
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 | €844,995 | €1,251,733 | +€406,738 | +48.1% |
| Fixed assets | 21/28 | €828,762 | €1,113,041 | +€284,279 | +34.3% |
| Tangible fixed assets | 22/27 | €828,762 | €1,113,041 | +€284,279 | +34.3% |
| Land and buildings | 22 | €828,762 | €1,098,752 | +€269,989 | +32.6% |
| Plant, machinery and equipment | 23 | - | €7,538 | +€7,538 | |
| Furniture and vehicles | 24 | - | €6,752 | +€6,752 | |
| Current assets | 29/58 | €16,233 | €138,692 | +€122,459 | +754% |
| Amounts receivable within one year | 40/41 | €9,091 | €7,210 | -€1,882 | -20.7% |
| Trade receivables | 40 | €5,000 | - | -€5,000 | |
| Other amounts receivable | 41 | €4,091 | €7,210 | +€3,118 | +76.2% |
| Cash at bank and in hand | 54/58 | €7,142 | €131,482 | +€124,340 | +1,741% |
| Total equity and liabilities | 10/49 | €844,995 | €1,251,733 | +€406,738 | +48.1% |
| Equity | 10/15 | €621,054 | €613,815 | -€7,239 | -1.2% |
| Contributions | 10/11 | €610,686 | €610,686 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,368 | €3,129 | -€7,239 | -69.8% |
| Amounts payable | 17/49 | €223,941 | €637,918 | +€413,977 | +185% |
| Amounts payable after more than one year | 17 | €207,137 | €610,000 | +€402,863 | +194% |
| Financial debts | 170/4 | €137,137 | €415,044 | +€277,907 | +203% |
| Other amounts payable | 178/9 | €70,000 | €194,956 | +€124,956 | +179% |
| Amounts payable within one year | 42/48 | €16,804 | €27,918 | +€11,114 | +66.1% |
| Current portion of amounts payable after more than one year | 42 | - | €25,200 | +€25,200 | |
| Trade debts | 44 | €16,804 | €594 | -€16,210 | -96.5% |
| Suppliers | 440/4 | €16,804 | €594 | -€16,210 | -96.5% |
| Taxes, remuneration and social security | 45 | - | €2,124 | +€2,124 | |
| Taxes | 450/3 | - | €2,124 | +€2,124 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,353 | €32,972 | +€13,619 | +70.4% |
| Other operating charges | 640/8 | €3,030 | €3,125 | +€95 | +3.1% |
| Gross operating margin | 9900 | €39,145 | €50,729 | +€11,584 | +29.6% |
| Operating profit (loss) | 9901 | €16,762 | €14,632 | -€2,130 | -12.7% |
| Financial charges | 65/66B | €3,548 | €21,871 | +€18,323 | +516% |
| Recurring financial charges | 65 | €3,548 | €21,871 | +€18,323 | +516% |
| Profit (loss) for the period before taxes | 9903 | €13,214 | -€7,239 | -€20,453 | |
| Profit (loss) for the period | 9904 | €13,214 | -€7,239 | -€20,453 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,214 | -€7,239 | -€20,453 |
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 20 October 2026 via checked.be.