FRANCOIS BOURDOUXHE: what changed
Two fiscal 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.
FRANCOIS BOURDOUXHE
Largest movements
- Cash -€14,025
down €14,025 (-76.8%), from €18,256 to €4,232
mainly Receivables within one year (-€7,402) and Deferred charges and accrued income (-€3,973)
- Receivables within one year +€7,402
up €7,402 (+120.1%), from €6,165 to €13,567
of which Trade receivables: +€3,939
- Deferred charges and accrued income +€3,973
up €3,973 (+20260.2%), from €20 to €3,993
- Tangible fixed assets -€1,918
down €1,918 (-56.5%), from €3,391 to €1,474
- Profit (loss) carried forward -€2,430
down €2,430 (-15.3%), from €15,882 to €13,452
- Tax, wage and social debts -€2,050
down €2,050 (-37.1%), from €5,522 to €3,472
- Trade debts -€491
down €491 (-68.3%), from €719 to €228
- Other debts +€403
up €403 (+56.8%), from €709 to €1,112
- Gross operating margin -€18,562
down €18,562 (-85.0%), from €21,847 to €3,285
- Taxes -€2,662
down €2,662 (-54.3%), from €4,899 to €2,237
- Financial charges +€2,196
up €2,196 (+4012.6%), from €55 to €2,250
- Other operating charges +€271
new in 2025: €271
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 | €27,832 | €23,264 | -€4,568 | -16.4% |
| Fixed assets | 21/28 | €3,391 | €1,474 | -€1,918 | -56.5% |
| Tangible fixed assets | 22/27 | €3,391 | €1,474 | -€1,918 | -56.5% |
| Furniture and vehicles | 24 | €3,391 | €1,474 | -€1,918 | -56.5% |
| Current assets | 29/58 | €24,441 | €21,791 | -€2,650 | -10.8% |
| Amounts receivable within one year | 40/41 | €6,165 | €13,567 | +€7,402 | +120.1% |
| Trade receivables | 40 | €6,165 | €10,104 | +€3,939 | +63.9% |
| Other amounts receivable | 41 | - | €3,463 | +€3,463 | |
| Cash at bank and in hand | 54/58 | €18,256 | €4,232 | -€14,025 | -76.8% |
| Deferred charges and accrued income | 490/1 | €20 | €3,993 | +€3,973 | +20260.2% |
| Total equity and liabilities | 10/49 | €27,832 | €23,264 | -€4,568 | -16.4% |
| Equity | 10/15 | €20,882 | €18,452 | -€2,430 | -11.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,882 | €13,452 | -€2,430 | -15.3% |
| Amounts payable | 17/49 | €6,950 | €4,812 | -€2,138 | -30.8% |
| Amounts payable within one year | 42/48 | €6,950 | €4,812 | -€2,138 | -30.8% |
| Trade debts | 44 | €719 | €228 | -€491 | -68.3% |
| Suppliers | 440/4 | €719 | €228 | -€491 | -68.3% |
| Taxes, remuneration and social security | 45 | €5,522 | €3,472 | -€2,050 | -37.1% |
| Taxes | 450/3 | €5,522 | €3,472 | -€2,050 | -37.1% |
| Other amounts payable | 47/48 | €709 | €1,112 | +€403 | +56.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €352 | €324 | -€28 | -8.0% |
| Other operating charges | 640/8 | - | €271 | +€271 | |
| Gross operating margin | 9900 | €21,847 | €3,285 | -€18,562 | -85.0% |
| Operating profit (loss) | 9901 | €21,495 | €2,690 | -€18,805 | -87.5% |
| Financial charges | 65/66B | €55 | €2,250 | +€2,196 | +4012.6% |
| Recurring financial charges | 65 | €55 | €2,250 | +€2,196 | +4012.6% |
| Profit (loss) for the period before taxes | 9903 | €21,440 | €440 | -€21,000 | -97.9% |
| Income taxes | 67/77 | €4,899 | €2,237 | -€2,662 | -54.3% |
| Profit (loss) for the period | 9904 | €16,541 | -€1,797 | -€18,338 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,541 | -€1,797 | -€18,338 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.