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
- Cash +€38,588
up €38,588 (+35.2%), from €109,711 to €148,299
mainly Net result for the year (+€75,977) and Other debts (+€25,325)
- Tangible fixed assets -€22,295
down €22,295 (-6.0%), from €368,695 to €346,400
of which Furniture and vehicles: -€11,629
- Receivables within one year +€6,224
up €6,224 (+9.3%), from €67,046 to €73,270
of which Trade receivables: +€7,526
- Other debts +€25,325
up €25,325 (+75.0%), from €33,782 to €59,107
- Debts after one year -€22,546
down €22,546 (-19.7%), from €114,471 to €91,925
- Reserves +€13,759
up €13,759 (+5.3%), from €258,342 to €272,101
of which Distributable reserves: +€13,759
- Short-term financial debts +€8,087
new in 2025: €8,087
- Current portion of long-term debt -€7,443
down €7,443 (-24.8%), from €29,989 to €22,546
- Gross operating margin +€19,034
up €19,034 (+6.7%), from €283,374 to €302,407
- Staff costs +€10,948
up €10,948 (+7.7%), from €142,364 to €153,313
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 | €576,994 | €601,195 | +€24,201 | +4.2% |
| Fixed assets | 21/28 | €378,774 | €356,479 | -€22,295 | -5.9% |
| Tangible fixed assets | 22/27 | €368,695 | €346,400 | -€22,295 | -6.0% |
| Land and buildings | 22 | €345,932 | €335,574 | -€10,358 | -3.0% |
| Plant, machinery and equipment | 23 | €4,652 | €5,119 | +€467 | +10.0% |
| Furniture and vehicles | 24 | €16,561 | €4,932 | -€11,629 | -70.2% |
| Other tangible fixed assets | 26 | €1,550 | €775 | -€775 | -50.0% |
| Financial fixed assets | 28 | €10,079 | €10,079 | = | 0.0% |
| Current assets | 29/58 | €198,220 | €244,716 | +€46,496 | +23.5% |
| Amounts receivable within one year | 40/41 | €67,046 | €73,270 | +€6,224 | +9.3% |
| Trade receivables | 40 | €56,563 | €64,089 | +€7,526 | +13.3% |
| Other amounts receivable | 41 | €10,483 | €9,181 | -€1,302 | -12.4% |
| Current investments | 50/53 | €20,468 | €20,468 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €109,711 | €148,299 | +€38,588 | +35.2% |
| Deferred charges and accrued income | 490/1 | €996 | €2,680 | +€1,684 | +169% |
| Total equity and liabilities | 10/49 | €576,994 | €601,195 | +€24,201 | +4.2% |
| Equity | 10/15 | €343,933 | €357,692 | +€13,759 | +4.0% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €258,342 | €272,101 | +€13,759 | +5.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €256,482 | €270,241 | +€13,759 | +5.4% |
| Profit (loss) carried forward | 14 | €79,386 | €79,386 | = | 0.0% |
| Amounts payable | 17/49 | €233,061 | €243,503 | +€10,442 | +4.5% |
| Amounts payable after more than one year | 17 | €114,471 | €91,925 | -€22,546 | -19.7% |
| Financial debts | 170/4 | €114,471 | €91,925 | -€22,546 | -19.7% |
| Amounts payable within one year | 42/48 | €118,590 | €151,578 | +€32,988 | +27.8% |
| Current portion of amounts payable after more than one year | 42 | €29,989 | €22,546 | -€7,443 | -24.8% |
| Financial debts | 43 | - | €8,087 | +€8,087 | |
| Credit institutions | 430/8 | - | €8,087 | +€8,087 | |
| Trade debts | 44 | €16,356 | €17,720 | +€1,363 | +8.3% |
| Suppliers | 440/4 | €16,356 | €17,720 | +€1,363 | +8.3% |
| Taxes, remuneration and social security | 45 | €38,464 | €44,119 | +€5,655 | +14.7% |
| Taxes | 450/3 | €21,889 | €26,582 | +€4,694 | +21.4% |
| Remuneration and social security | 454/9 | €16,575 | €17,536 | +€961 | +5.8% |
| Other amounts payable | 47/48 | €33,782 | €59,107 | +€25,325 | +75.0% |
| Remuneration, social security and pensions | 62 | €142,364 | €153,313 | +€10,948 | +7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,088 | €24,117 | +€29 | +0.1% |
| Other operating charges | 640/8 | €4,588 | €4,744 | +€155 | +3.4% |
| Gross operating margin | 9900 | €283,374 | €302,407 | +€19,034 | +6.7% |
| Operating profit (loss) | 9901 | €112,333 | €120,234 | +€7,901 | +7.0% |
| Financial income | 75/76B | €1,051 | €414 | -€637 | -60.6% |
| Recurring financial income | 75 | €1,051 | €414 | -€637 | -60.6% |
| Financial charges | 65/66B | €1,653 | €1,271 | -€382 | -23.1% |
| Recurring financial charges | 65 | €1,653 | €1,271 | -€382 | -23.1% |
| Profit (loss) for the period before taxes | 9903 | €111,731 | €119,377 | +€7,646 | +6.8% |
| Income taxes | 67/77 | €42,197 | €43,401 | +€1,204 | +2.9% |
| Profit (loss) for the period | 9904 | €69,534 | €75,977 | +€6,443 | +9.3% |
| Profit (loss) for the period to be appropriated | 9905 | €69,534 | €75,977 | +€6,443 | +9.3% |
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 14 October 2026 via checked.be.