F.BOELENS: 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.
What changed
F.BOELENS
NACE 69.203, Activities of company auditors
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€295,912
2024 · €285,448+€10,464
Equity
€1.1m
2024 · €850,033+€295,912
Cash
€80,022
2024 · €79,121+€901
Balance sheet total
€2.0m
2024 · €1.8m+€173,407
Largest movements
Assets
- Receivables after one year +€207,107
up €207,107 (+35.9%), from €577,309 to €784,416
- Tangible fixed assets -€44,186
down €44,186 (-4.2%), from €1.0m to €997,110
of which Land and buildings: -€36,621
Equity and liabilities
- Reserves +€296,000
up €296,000 (+35.6%), from €830,860 to €1.1m
of which Distributable reserves: +€296,000
- Debts after one year -€123,852
down €123,852 (-14.1%), from €880,827 to €756,974
Income statement
- Gross operating margin +€16,193
up €16,193 (+3.6%), from €444,676 to €460,868
- Financial income +€7,505
up €7,505 (+31.7%), from €23,658 to €31,164
- Other operating charges +€5,786
up €5,786 (+174%), from €3,321 to €9,108
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.
Result 2024
€285,448
Gross operating margin
+€16,193
Depreciation
-€4,442
Other operating charges
-€5,786
Financial income
+€7,505
Financial charges
+€1,259
Taxes
-€4,265
Result 2025
€295,912
raises the resultlowers the result
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.
From operations
+€136,479
Investment
-€18,040
Financing
-€117,538
Cash 2024
€79,121
From operations (derived)
+€136,479
Net result for the year
+€295,912
Depreciation
+€62,226
Receivables after one year
-€207,107
Receivables within one year
-€5,896
Deferred charges and accrued income
-€3,688
Trade debts
+€1,275
Tax, wage and social debts
-€2,712
Other debts
-€3,529
Investment (derived)
-€18,040
Investment in fixed assets (net)
-€18,040
Financing
-€117,538
Debts after one year
-€123,852
Current portion of long-term debt
+€6,314
Cash 2025
€80,022
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,836,052 | €2,009,460 | +€173,407 | +9.4% |
| Fixed assets | 21/28 | €1,041,295 | €997,110 | -€44,186 | -4.2% |
| Tangible fixed assets | 22/27 | €1,041,295 | €997,110 | -€44,186 | -4.2% |
| Land and buildings | 22 | €944,047 | €907,426 | -€36,621 | -3.9% |
| Plant, machinery and equipment | 23 | €3,473 | €2,720 | -€753 | -21.7% |
| Furniture and vehicles | 24 | €19,877 | €30,216 | +€10,339 | +52.0% |
| Leasing and similar rights | 25 | €73,898 | €56,747 | -€17,151 | -23.2% |
| Current assets | 29/58 | €794,757 | €1,012,350 | +€217,593 | +27.4% |
| Amounts receivable after more than one year | 29 | €577,309 | €784,416 | +€207,107 | +35.9% |
| Other amounts receivable | 291 | €577,309 | €784,416 | +€207,107 | +35.9% |
| Amounts receivable within one year | 40/41 | €25,188 | €31,084 | +€5,896 | +23.4% |
| Trade receivables | 40 | €25,188 | €24,300 | -€888 | -3.5% |
| Other amounts receivable | 41 | €0 | €6,784 | +€6,784 | |
| Current investments | 50/53 | €102,479 | €102,479 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €79,121 | €80,022 | +€901 | +1.1% |
| Deferred charges and accrued income | 490/1 | €10,661 | €14,349 | +€3,688 | +34.6% |
| Total equity and liabilities | 10/49 | €1,836,052 | €2,009,460 | +€173,407 | +9.4% |
| Equity | 10/15 | €850,033 | €1,145,945 | +€295,912 | +34.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €830,860 | €1,126,860 | +€296,000 | +35.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €830,860 | €1,126,860 | +€296,000 | +35.6% |
| Profit (loss) carried forward | 14 | €573 | €485 | -€88 | -15.4% |
| Amounts payable | 17/49 | €986,019 | €863,515 | -€122,504 | -12.4% |
| Amounts payable after more than one year | 17 | €880,827 | €756,974 | -€123,852 | -14.1% |
| Financial debts | 170/4 | €880,827 | €756,974 | -€123,852 | -14.1% |
| Amounts payable within one year | 42/48 | €105,193 | €106,541 | +€1,348 | +1.3% |
| Current portion of amounts payable after more than one year | 42 | €65,126 | €71,440 | +€6,314 | +9.7% |
| Trade debts | 44 | €19,434 | €20,709 | +€1,275 | +6.6% |
| Suppliers | 440/4 | €19,434 | €20,709 | +€1,275 | +6.6% |
| Taxes, remuneration and social security | 45 | €17,104 | €14,391 | -€2,712 | -15.9% |
| Taxes | 450/3 | €17,104 | €14,391 | -€2,712 | -15.9% |
| Other amounts payable | 47/48 | €3,529 | €0 | -€3,529 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,783 | €62,226 | +€4,442 | +7.7% |
| Other operating charges | 640/8 | €3,321 | €9,108 | +€5,786 | +174% |
| Gross operating margin | 9900 | €444,676 | €460,868 | +€16,193 | +3.6% |
| Operating profit (loss) | 9901 | €383,571 | €389,535 | +€5,964 | +1.6% |
| Financial income | 75/76B | €23,658 | €31,164 | +€7,505 | +31.7% |
| Recurring financial income | 75 | €23,658 | €31,164 | +€7,505 | +31.7% |
| Financial charges | 65/66B | €31,599 | €30,341 | -€1,259 | -4.0% |
| Recurring financial charges | 65 | €31,599 | €30,341 | -€1,259 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | €375,630 | €390,358 | +€14,729 | +3.9% |
| Income taxes | 67/77 | €90,182 | €94,447 | +€4,265 | +4.7% |
| Profit (loss) for the period | 9904 | €285,448 | €295,912 | +€10,464 | +3.7% |
| Profit (loss) for the period to be appropriated | 9905 | €285,448 | €295,912 | +€10,464 | +3.7% |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.