DE BOECK: 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.
DE BOECK
Largest movements
- Tangible fixed assets +€157,299
up €157,299 (+105%), from €150,280 to €307,579
of which Land and buildings: +€108,621
- Receivables within one year -€44,070
down €44,070 (-16.1%), from €273,921 to €229,851
of which Trade receivables: -€48,354
- Cash +€29,609
up €29,609 (+38.1%), from €77,736 to €107,345
mainly Net result for the year (+€69,642) and Depreciation (+€58,158)
- Current investments +€12,000
up €12,000, from €0 to €12,000
- Intangible fixed assets -€11,628
down €11,628 (-35.1%), from €33,160 to €21,532
- Reserves +€64,237
up €64,237 (+25.5%), from €251,848 to €316,084
- Current portion of long-term debt +€34,305
up €34,305 (+131%), from €26,088 to €60,393
- Trade debts +€21,528
up €21,528 (+76.3%), from €28,202 to €49,730
- Other debts +€11,588
up €11,588 (+188%), from €6,176 to €17,764
- Gross operating margin -€12,383
down €12,383 (-4.5%), from €274,477 to €262,094
- Depreciation +€8,505
up €8,505 (+17.1%), from €49,654 to €58,158
- Taxes -€7,842
down €7,842 (-21.9%), from €35,732 to €27,890
- Staff costs +€4,104
up €4,104 (+4.6%), from €89,533 to €93,638
- Financial charges -€2,769
down €2,769 (-14.3%), from €19,342 to €16,574
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 | €652,712 | €792,629 | +€139,917 | +21.4% |
| Fixed assets | 21/28 | €183,440 | €329,111 | +€145,671 | +79.4% |
| Intangible fixed assets | 21 | €33,160 | €21,532 | -€11,628 | -35.1% |
| Tangible fixed assets | 22/27 | €150,280 | €307,579 | +€157,299 | +105% |
| Land and buildings | 22 | €96,811 | €205,432 | +€108,621 | +112% |
| Plant, machinery and equipment | 23 | €2,889 | €1,333 | -€1,556 | -53.9% |
| Furniture and vehicles | 24 | €50,579 | €100,814 | +€50,234 | +99.3% |
| Current assets | 29/58 | €469,272 | €463,518 | -€5,754 | -1.2% |
| Stocks and contracts in progress | 3 | €117,028 | €113,730 | -€3,298 | -2.8% |
| Stocks | 30/36 | €117,028 | €113,730 | -€3,298 | -2.8% |
| Amounts receivable within one year | 40/41 | €273,921 | €229,851 | -€44,070 | -16.1% |
| Trade receivables | 40 | €273,921 | €225,567 | -€48,354 | -17.7% |
| Other amounts receivable | 41 | €0 | €4,284 | +€4,284 | |
| Current investments | 50/53 | €0 | €12,000 | +€12,000 | |
| Cash at bank and in hand | 54/58 | €77,736 | €107,345 | +€29,609 | +38.1% |
| Deferred charges and accrued income | 490/1 | €587 | €593 | +€6 | +1.0% |
| Total equity and liabilities | 10/49 | €652,712 | €792,629 | +€139,917 | +21.4% |
| Equity | 10/15 | €270,848 | €335,084 | +€64,237 | +23.7% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €251,848 | €316,084 | +€64,237 | +25.5% |
| Distributable reserves | 133 | €251,848 | €316,084 | +€64,237 | +25.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €381,864 | €457,544 | +€75,681 | +19.8% |
| Amounts payable after more than one year | 17 | €280,808 | €288,099 | +€7,291 | +2.6% |
| Financial debts | 170/4 | €280,808 | €288,099 | +€7,291 | +2.6% |
| Amounts payable within one year | 42/48 | €87,668 | €160,950 | +€73,282 | +83.6% |
| Current portion of amounts payable after more than one year | 42 | €26,088 | €60,393 | +€34,305 | +131% |
| Trade debts | 44 | €28,202 | €49,730 | +€21,528 | +76.3% |
| Suppliers | 440/4 | €28,202 | €49,730 | +€21,528 | +76.3% |
| Taxes, remuneration and social security | 45 | €27,202 | €33,062 | +€5,861 | +21.5% |
| Taxes | 450/3 | €11,530 | €17,970 | +€6,440 | +55.9% |
| Remuneration and social security | 454/9 | €15,672 | €15,092 | -€580 | -3.7% |
| Other amounts payable | 47/48 | €6,176 | €17,764 | +€11,588 | +188% |
| Accrued charges and deferred income | 492/3 | €13,388 | €8,496 | -€4,892 | -36.5% |
| Non-recurring operating income | 76A | - | €60 | +€60 | |
| Remuneration, social security and pensions | 62 | €89,533 | €93,638 | +€4,104 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,654 | €58,158 | +€8,505 | +17.1% |
| Other operating charges | 640/8 | €3,002 | €3,086 | +€84 | +2.8% |
| Gross operating margin | 9900 | €274,477 | €262,094 | -€12,383 | -4.5% |
| Operating profit (loss) | 9901 | €132,289 | €107,213 | -€25,076 | -19.0% |
| Financial income | 75/76B | €8,520 | €6,893 | -€1,627 | -19.1% |
| Recurring financial income | 75 | €8,520 | €6,893 | -€1,627 | -19.1% |
| Financial charges | 65/66B | €19,342 | €16,574 | -€2,769 | -14.3% |
| Recurring financial charges | 65 | €19,342 | €16,574 | -€2,769 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | €121,466 | €97,533 | -€23,933 | -19.7% |
| Income taxes | 67/77 | €35,732 | €27,890 | -€7,842 | -21.9% |
| Profit (loss) for the period | 9904 | €85,734 | €69,642 | -€16,092 | -18.8% |
| Profit (loss) for the period to be appropriated | 9905 | €85,734 | €69,642 | -€16,092 | -18.8% |
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 13 October 2026 via checked.be.