DIDIER BOON: 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.
DIDIER BOON
Largest movements
- Cash -€169,573
down €169,573 (-33.7%), from €503,806 to €334,233
mainly Accrued charges and deferred income (-€496,347) and Debts after one year (-€17,316)
- Current investments -€150,151
down €150,151 (-7.4%), from €2.0m to €1.9m
- Accrued charges and deferred income -€496,347
down €496,347 (-80.0%), from €620,541 to €124,194
- Reserves +€200,895
up €200,895 (+59.1%), from €339,820 to €540,715
of which Distributable reserves: +€200,895
- Gross operating margin -€22,438
down €22,438 (-8.5%), from €264,897 to €242,459
- Financial income +€19,787
up €19,787 (+37.4%), from €52,869 to €72,656
- Depreciation -€3,034
down €3,034 (-16.2%), from €18,749 to €15,715
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 | €2,555,820 | €2,225,126 | -€330,694 | -12.9% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €28,306 | €14,306 | -€14,000 | -49.5% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €28,306 | €14,306 | -€14,000 | -49.5% |
| Other tangible fixed assets | 26 | €28,306 | €14,306 | -€14,000 | -49.5% |
| Current assets | 29/58 | €2,527,514 | €2,210,820 | -€316,694 | -12.5% |
| Amounts receivable within one year | 40/41 | - | €3,030 | +€3,030 | |
| Other amounts receivable | 41 | - | €3,030 | +€3,030 | |
| Current investments | 50/53 | €2,023,708 | €1,873,557 | -€150,151 | -7.4% |
| Cash at bank and in hand | 54/58 | €503,806 | €334,233 | -€169,573 | -33.7% |
| Total equity and liabilities | 10/49 | €2,555,820 | €2,225,126 | -€330,694 | -12.9% |
| Equity | 10/15 | €1,662,788 | €1,863,695 | +€200,907 | +12.1% |
| Contributions | 10/11 | €34,554 | €34,554 | = | 0.0% |
| Reserves | 13 | €339,820 | €540,715 | +€200,895 | +59.1% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €339,820 | €540,715 | +€200,895 | +59.1% |
| Profit (loss) carried forward | 14 | €1,288,414 | €1,288,426 | +€12 | 0.0% |
| Provisions and deferred taxes | 16 | €122,365 | €122,365 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €122,365 | €122,365 | = | 0.0% |
| Pensions and similar obligations | 160 | €122,365 | €122,365 | = | 0.0% |
| Amounts payable | 17/49 | €770,667 | €239,066 | -€531,601 | -69.0% |
| Amounts payable after more than one year | 17 | €62,073 | €44,757 | -€17,316 | -27.9% |
| Financial debts | 170/4 | €62,073 | €44,757 | -€17,316 | -27.9% |
| Amounts payable within one year | 42/48 | €88,053 | €70,115 | -€17,938 | -20.4% |
| Current portion of amounts payable after more than one year | 42 | €17,000 | €17,000 | = | 0.0% |
| Trade debts | 44 | €1,904 | €2,768 | +€864 | +45.4% |
| Suppliers | 440/4 | €1,904 | €2,768 | +€864 | +45.4% |
| Taxes, remuneration and social security | 45 | €60,914 | €45,809 | -€15,105 | -24.8% |
| Taxes | 450/3 | €42,735 | €26,000 | -€16,735 | -39.2% |
| Remuneration and social security | 454/9 | €18,179 | €19,809 | +€1,630 | +9.0% |
| Other amounts payable | 47/48 | €8,235 | €4,538 | -€3,697 | -44.9% |
| Accrued charges and deferred income | 492/3 | €620,541 | €124,194 | -€496,347 | -80.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,749 | €15,715 | -€3,034 | -16.2% |
| Gross operating margin | 9900 | €264,897 | €242,459 | -€22,438 | -8.5% |
| Operating profit (loss) | 9901 | €246,148 | €226,744 | -€19,404 | -7.9% |
| Financial income | 75/76B | €52,869 | €72,656 | +€19,787 | +37.4% |
| Recurring financial income | 75 | €52,869 | €72,656 | +€19,787 | +37.4% |
| Financial charges | 65/66B | €3,178 | €4,756 | +€1,578 | +49.7% |
| Recurring financial charges | 65 | €3,178 | €4,756 | +€1,578 | +49.7% |
| Profit (loss) for the period before taxes | 9903 | €295,839 | €294,644 | -€1,195 | -0.4% |
| Income taxes | 67/77 | €92,977 | €93,738 | +€761 | +0.8% |
| Profit (loss) for the period | 9904 | €202,862 | €200,906 | -€1,956 | -1.0% |
| Transfer from tax-exempt reserves | 789 | €31,000 | - | -€31,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €233,862 | €200,906 | -€32,956 | -14.1% |
Source: filed annual accounts (NBB), financial years ended 30 April 2024 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.