DR. BOYDENS: 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.
DR. BOYDENS
Largest movements
- Tangible fixed assets +€18,922
up €18,922 (+144.1%), from €13,130 to €32,052
of which Furniture and vehicles: +€15,532
- Cash -€18,627
down €18,627 (-4.1%), from €455,551 to €436,924
mainly Contributions, distributions and other (-€100,600) and Investment in fixed assets (net) (-€23,580)
- Tax, wage and social debts +€23,623
up €23,623 (+310.5%), from €7,608 to €31,231
- Reserves -€15,503
down €15,503 (-3.8%), from €405,044 to €389,541
- Gross operating margin +€32,357
up €32,357 (+33.9%), from €95,588 to €127,946
- Taxes +€11,530
up €11,530 (+49.3%), from €23,375 to €34,905
- Depreciation -€4,671
down €4,671 (-50.1%), from €9,328 to €4,658
- Other operating charges +€2,992
up €2,992 (+399.0%), from €750 to €3,741
- Financial income +€1,808
up €1,808 (+70.7%), from €2,558 to €4,366
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.
Cash bridge derived
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 | €472,594 | €476,858 | +€4,264 | +0.9% |
| Fixed assets | 21/28 | €13,130 | €32,052 | +€18,922 | +144.1% |
| Tangible fixed assets | 22/27 | €13,130 | €32,052 | +€18,922 | +144.1% |
| Plant, machinery and equipment | 23 | €2,059 | €5,449 | +€3,390 | +164.6% |
| Furniture and vehicles | 24 | €11,071 | €26,603 | +€15,532 | +140.3% |
| Current assets | 29/58 | €459,464 | €444,806 | -€14,658 | -3.2% |
| Amounts receivable within one year | 40/41 | €3,913 | €7,882 | +€3,969 | +101.4% |
| Trade receivables | 40 | - | €2,050 | +€2,050 | |
| Other amounts receivable | 41 | €3,913 | €5,832 | +€1,919 | +49.0% |
| Cash at bank and in hand | 54/58 | €455,551 | €436,924 | -€18,627 | -4.1% |
| Total equity and liabilities | 10/49 | €472,594 | €476,858 | +€4,264 | +0.9% |
| Equity | 10/15 | €417,444 | €401,941 | -€15,503 | -3.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €405,044 | €389,541 | -€15,503 | -3.8% |
| Distributable reserves | 133 | €405,044 | €389,541 | -€15,503 | -3.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €55,150 | €74,917 | +€19,767 | +35.8% |
| Amounts payable within one year | 42/48 | €52,138 | €74,917 | +€22,780 | +43.7% |
| Trade debts | 44 | €909 | €594 | -€315 | -34.7% |
| Suppliers | 440/4 | €909 | €594 | -€315 | -34.7% |
| Taxes, remuneration and social security | 45 | €7,608 | €31,231 | +€23,623 | +310.5% |
| Taxes | 450/3 | €7,608 | €31,231 | +€23,623 | +310.5% |
| Other amounts payable | 47/48 | €43,621 | €43,093 | -€528 | -1.2% |
| Accrued charges and deferred income | 492/3 | €3,012 | €0 | -€3,012 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,328 | €4,658 | -€4,671 | -50.1% |
| Other operating charges | 640/8 | €750 | €3,741 | +€2,992 | +399.0% |
| Gross operating margin | 9900 | €95,588 | €127,946 | +€32,357 | +33.9% |
| Operating profit (loss) | 9901 | €85,510 | €119,546 | +€34,036 | +39.8% |
| Financial income | 75/76B | €2,558 | €4,366 | +€1,808 | +70.7% |
| Recurring financial income | 75 | €2,558 | €4,366 | +€1,808 | +70.7% |
| Financial charges | 65/66B | €3,458 | €3,909 | +€452 | +13.1% |
| Recurring financial charges | 65 | €3,458 | €3,909 | +€452 | +13.1% |
| Profit (loss) for the period before taxes | 9903 | €84,610 | €120,003 | +€35,393 | +41.8% |
| Income taxes | 67/77 | €23,375 | €34,905 | +€11,530 | +49.3% |
| Profit (loss) for the period | 9904 | €61,234 | €85,097 | +€23,863 | +39.0% |
| Profit (loss) for the period to be appropriated | 9905 | €61,234 | €85,097 | +€23,863 | +39.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.