De Boe Lode: 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.
De Boe Lode
Largest movements
- Financial fixed assets +€2.4m
up €2.4m (+954700.0%), from €250 to €2.4m
- Current investments -€444,304
down €444,304 (-24.5%), from €1.8m to €1.4m
- Tangible fixed assets +€220,923
up €220,923 (+153.0%), from €144,408 to €365,332
of which Land and buildings: +€240,934
- Cash +€129,061
up €129,061 (+17.7%), from €728,275 to €857,335
mainly Debts after one year (+€2.4m) and Other debts (+€1.1m)
- Debts after one year +€2.4m
new in 2026: €2.4m
- Reserves -€1.3m
down €1.3m (-54.5%), from €2.3m to €1.1m
- Other debts +€1.1m
up €1.1m (+397.0%), from €285,854 to €1.4m
- Gross operating margin +€90,927
up €90,927 (+28.8%), from €315,361 to €406,289
- Financial charges +€58,884
up €58,884 (+438.5%), from €13,429 to €72,313
- Financial income -€24,276
down €24,276 (-31.7%), from €76,519 to €52,243
- Depreciation +€18,069
up €18,069 (+89.1%), from €20,275 to €38,344
- Taxes +€10,202
up €10,202 (+9.1%), from €111,780 to €121,981
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,751,954 | €5,039,300 | +€2.3m | +83.1% |
| Fixed assets | 21/28 | €144,658 | €2,752,332 | +€2.6m | +1802.6% |
| Tangible fixed assets | 22/27 | €144,408 | €365,332 | +€220,923 | +153.0% |
| Land and buildings | 22 | €84,083 | €325,017 | +€240,934 | +286.5% |
| Furniture and vehicles | 24 | €60,325 | €40,314 | -€20,011 | -33.2% |
| Financial fixed assets | 28 | €250 | €2,387,000 | +€2.4m | +954700.0% |
| Current assets | 29/58 | €2,607,296 | €2,286,969 | -€320,328 | -12.3% |
| Amounts receivable within one year | 40/41 | €36,270 | €45,266 | +€8,996 | +24.8% |
| Trade receivables | 40 | €36,270 | €33,117 | -€3,153 | -8.7% |
| Other amounts receivable | 41 | €0 | €12,149 | +€12,149 | |
| Current investments | 50/53 | €1,814,226 | €1,369,921 | -€444,304 | -24.5% |
| Cash at bank and in hand | 54/58 | €728,275 | €857,335 | +€129,061 | +17.7% |
| Deferred charges and accrued income | 490/1 | €28,526 | €14,446 | -€14,080 | -49.4% |
| Total equity and liabilities | 10/49 | €2,751,954 | €5,039,300 | +€2.3m | +83.1% |
| Equity | 10/15 | €2,430,003 | €1,155,114 | -€1.3m | -52.5% |
| Contributions | 10/11 | €90,000 | €90,000 | = | 0.0% |
| Reserves | 13 | €2,340,003 | €1,065,114 | -€1.3m | -54.5% |
| Distributable reserves | 133 | €2,340,003 | €1,065,114 | -€1.3m | -54.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €321,951 | €3,884,186 | +€3.6m | +1106.5% |
| Amounts payable after more than one year | 17 | - | €2,387,000 | +€2.4m | |
| Other amounts payable | 178/9 | - | €2,387,000 | +€2.4m | |
| Amounts payable within one year | 42/48 | €321,951 | €1,497,186 | +€1.2m | +365.0% |
| Trade debts | 44 | €3,677 | €3,237 | -€440 | -12.0% |
| Suppliers | 440/4 | €3,677 | €3,237 | -€440 | -12.0% |
| Taxes, remuneration and social security | 45 | €32,420 | €73,242 | +€40,821 | +125.9% |
| Taxes | 450/3 | €32,420 | €73,242 | +€40,821 | +125.9% |
| Other amounts payable | 47/48 | €285,854 | €1,420,708 | +€1.1m | +397.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,275 | €38,344 | +€18,069 | +89.1% |
| Other operating charges | 640/8 | €2,142 | €2,288 | +€146 | +6.8% |
| Gross operating margin | 9900 | €315,361 | €406,289 | +€90,927 | +28.8% |
| Operating profit (loss) | 9901 | €292,944 | €365,656 | +€72,713 | +24.8% |
| Financial income | 75/76B | €76,519 | €52,243 | -€24,276 | -31.7% |
| Recurring financial income | 75 | €76,519 | €52,243 | -€24,276 | -31.7% |
| Financial charges | 65/66B | €13,429 | €72,313 | +€58,884 | +438.5% |
| Recurring financial charges | 65 | €13,429 | €72,313 | +€58,884 | +438.5% |
| Profit (loss) for the period before taxes | 9903 | €356,034 | €345,587 | -€10,447 | -2.9% |
| Income taxes | 67/77 | €111,780 | €121,981 | +€10,202 | +9.1% |
| Profit (loss) for the period | 9904 | €244,254 | €223,606 | -€20,648 | -8.5% |
| Profit (loss) for the period to be appropriated | 9905 | €244,254 | €223,606 | -€20,648 | -8.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.