Dr. Koen De Boulle: what changed
Dr. Koen De Boulle
Largest movements
- Current investments +€484,130
up €484,130 (+96.8%), from €500,000 to €984,130
- Tangible fixed assets -€154,512
down €154,512 (-62.8%), from €246,112 to €91,600
of which Land and buildings: -€135,823
- Cash -€63,311
down €63,311 (-58.1%), from €108,876 to €45,565
mainly Current investments (-€484,130) and Contributions, distributions and other (-€123,204)
- Reserves +€145,489
up €145,489 (+18.7%), from €775,993 to €921,483
- Other debts +€91,148
up €91,148 (+340%), from €26,834 to €117,983
- Tax, wage and social debts +€43,763
up €43,763 (+8,379%), from €522 to €44,285
of which Taxes: +€43,763
- Debts after one year -€27,395
down €27,395 (-74.5%), from €36,782 to €9,386
- Gross operating margin +€309,566
up €309,566 (+161%), from €192,206 to €501,772
- Other operating charges +€89,217
up €89,217 (+1,186%), from €7,520 to €96,737
- Taxes +€76,827
up €76,827 (+161%), from €47,812 to €124,639
- Staff costs -€36,677
down €36,677 (-93.4%), from €39,263 to €2,586
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €886,534 | €1,145,606 | +€259,072 | +29.2% |
| Fixed assets | 21/28 | €246,112 | €91,600 | -€154,512 | -62.8% |
| Tangible fixed assets | 22/27 | €246,112 | €91,600 | -€154,512 | -62.8% |
| Land and buildings | 22 | €165,573 | €29,750 | -€135,823 | -82.0% |
| Furniture and vehicles | 24 | €80,539 | €61,850 | -€18,688 | -23.2% |
| Current assets | 29/58 | €640,422 | €1,054,006 | +€413,584 | +64.6% |
| Amounts receivable within one year | 40/41 | €25,503 | €21,231 | -€4,272 | -16.7% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €25,503 | €21,231 | -€4,272 | -16.7% |
| Current investments | 50/53 | €500,000 | €984,130 | +€484,130 | +96.8% |
| Cash at bank and in hand | 54/58 | €108,876 | €45,565 | -€63,311 | -58.1% |
| Deferred charges and accrued income | 490/1 | €6,043 | €3,080 | -€2,963 | -49.0% |
| Total equity and liabilities | 10/49 | €886,534 | €1,145,606 | +€259,072 | +29.2% |
| Equity | 10/15 | €795,993 | €941,483 | +€145,489 | +18.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €775,993 | €921,483 | +€145,489 | +18.7% |
| Distributable reserves | 133 | €775,993 | €921,483 | +€145,489 | +18.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €90,541 | €204,123 | +€113,583 | +125% |
| Amounts payable after more than one year | 17 | €36,782 | €9,386 | -€27,395 | -74.5% |
| Financial debts | 170/4 | €36,782 | €9,386 | -€27,395 | -74.5% |
| Amounts payable within one year | 42/48 | €53,759 | €194,737 | +€140,978 | +262% |
| Current portion of amounts payable after more than one year | 42 | €26,287 | €27,395 | +€1,108 | +4.2% |
| Trade debts | 44 | €115 | €5,074 | +€4,958 | +4,297% |
| Suppliers | 440/4 | €115 | €5,074 | +€4,958 | +4,297% |
| Taxes, remuneration and social security | 45 | €522 | €44,285 | +€43,763 | +8,379% |
| Taxes | 450/3 | €522 | €44,285 | +€43,763 | +8,379% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €26,834 | €117,983 | +€91,148 | +340% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €39,263 | €2,586 | -€36,677 | -93.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,277 | €18,688 | +€4,412 | +30.9% |
| Other operating charges | 640/8 | €7,520 | €96,737 | +€89,217 | +1,186% |
| Gross operating margin | 9900 | €192,206 | €501,772 | +€309,566 | +161% |
| Operating profit (loss) | 9901 | €131,146 | €383,761 | +€252,615 | +193% |
| Financial income | 75/76B | €17,760 | €14,682 | -€3,078 | -17.3% |
| Recurring financial income | 75 | €17,760 | €14,682 | -€3,078 | -17.3% |
| Financial charges | 65/66B | €5,760 | €5,111 | -€649 | -11.3% |
| Recurring financial charges | 65 | €5,760 | €5,111 | -€649 | -11.3% |
| Profit (loss) for the period before taxes | 9903 | €143,146 | €393,332 | +€250,186 | +175% |
| Income taxes | 67/77 | €47,812 | €124,639 | +€76,827 | +161% |
| Profit (loss) for the period | 9904 | €95,335 | €268,693 | +€173,359 | +182% |
| Profit (loss) for the period to be appropriated | 9905 | €95,335 | €268,693 | +€173,359 | +182% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.