Frans Boone: 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.
Frans Boone
Largest movements
- Cash -€538,914
down €538,914 (-71.5%), from €754,158 to €215,244
mainly Debts after one year (-€496,122) and Current investments (-€400,000)
- Current investments +€400,000
up €400,000 (+802%), from €49,850 to €449,850
- Receivables within one year +€233,901
up €233,901 (+197%), from €118,558 to €352,459
of which Trade receivables: +€157,134
- Intangible fixed assets -€171,219
down €171,219 (-34.3%), from €499,388 to €328,169
- Stocks and contracts -€147,023
down €147,023 (-7.7%), from €1.9m to €1.8m
- Debts after one year -€496,122
down €496,122 (-26.1%), from €1.9m to €1.4m
- Reserves +€190,394
up €190,394 (+24.0%), from €794,613 to €985,007
- Trade debts -€149,690
down €149,690 (-99.8%), from €150,016 to €326
- Accrued charges and deferred income +€141,586
up €141,586 (+239%), from €59,215 to €200,800
- Gross operating margin -€426,121
down €426,121 (-34.4%), from €1.2m to €812,834
- Write-downs +€205,609
up €205,609 (+60.5%), from -€340,035 to -€134,426
- Taxes -€154,553
down €154,553 (-69.3%), from €222,923 to €68,370
- Financial charges -€43,586
down €43,586 (-16.0%), from €271,736 to €228,151
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 | €3,517,392 | €3,272,040 | -€245,352 | -7.0% |
| Fixed assets | 21/28 | €662,889 | €468,809 | -€194,080 | -29.3% |
| Intangible fixed assets | 21 | €499,388 | €328,169 | -€171,219 | -34.3% |
| Tangible fixed assets | 22/27 | €145,528 | €124,103 | -€21,425 | -14.7% |
| Plant, machinery and equipment | 23 | €25,185 | €17,999 | -€7,186 | -28.5% |
| Furniture and vehicles | 24 | €15,376 | €9,736 | -€5,640 | -36.7% |
| Other tangible fixed assets | 26 | €104,968 | €96,368 | -€8,600 | -8.2% |
| Financial fixed assets | 28 | €17,973 | €16,537 | -€1,436 | -8.0% |
| Current assets | 29/58 | €2,854,503 | €2,803,231 | -€51,271 | -1.8% |
| Stocks and contracts in progress | 3 | €1,901,355 | €1,754,332 | -€147,023 | -7.7% |
| Stocks | 30/36 | €1,901,355 | €1,754,332 | -€147,023 | -7.7% |
| Amounts receivable within one year | 40/41 | €118,558 | €352,459 | +€233,901 | +197% |
| Trade receivables | 40 | €116,385 | €273,519 | +€157,134 | +135% |
| Other amounts receivable | 41 | €2,174 | €78,940 | +€76,767 | +3,532% |
| Current investments | 50/53 | €49,850 | €449,850 | +€400,000 | +802% |
| Cash at bank and in hand | 54/58 | €754,158 | €215,244 | -€538,914 | -71.5% |
| Deferred charges and accrued income | 490/1 | €30,581 | €31,347 | +€766 | +2.5% |
| Total equity and liabilities | 10/49 | €3,517,392 | €3,272,040 | -€245,352 | -7.0% |
| Equity | 10/15 | €800,813 | €991,207 | +€190,394 | +23.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €794,613 | €985,007 | +€190,394 | +24.0% |
| Distributable reserves | 133 | €794,613 | €985,007 | +€190,394 | +24.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,716,579 | €2,280,833 | -€435,745 | -16.0% |
| Amounts payable after more than one year | 17 | €1,898,449 | €1,402,327 | -€496,122 | -26.1% |
| Other amounts payable | 178/9 | €1,898,449 | €1,402,327 | -€496,122 | -26.1% |
| Amounts payable within one year | 42/48 | €758,915 | €677,706 | -€81,209 | -10.7% |
| Current portion of amounts payable after more than one year | 42 | €423,660 | €447,807 | +€24,147 | +5.7% |
| Trade debts | 44 | €150,016 | €326 | -€149,690 | -99.8% |
| Suppliers | 440/4 | €150,016 | €326 | -€149,690 | -99.8% |
| Advances received on contracts in progress | 46 | €24,026 | €25,190 | +€1,165 | +4.8% |
| Taxes, remuneration and social security | 45 | €161,212 | €194,382 | +€33,170 | +20.6% |
| Taxes | 450/3 | €142,888 | €163,794 | +€20,906 | +14.6% |
| Remuneration and social security | 454/9 | €18,324 | €30,588 | +€12,263 | +66.9% |
| Other amounts payable | 47/48 | €0 | €10,000 | +€10,000 | |
| Accrued charges and deferred income | 492/3 | €59,215 | €200,800 | +€141,586 | +239% |
| Remuneration, social security and pensions | 62 | €249,161 | €256,846 | +€7,685 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €205,655 | €206,093 | +€438 | +0.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€340,035 | -€134,426 | +€205,609 | +60.5% |
| Other operating charges | 640/8 | €2,455 | €2,531 | +€77 | +3.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €1,238,955 | €812,834 | -€426,121 | -34.4% |
| Operating profit (loss) | 9901 | €1,121,719 | €481,790 | -€639,930 | -57.0% |
| Financial income | 75/76B | €14,726 | €15,125 | +€399 | +2.7% |
| Recurring financial income | 75 | €14,726 | €15,125 | +€399 | +2.7% |
| Financial charges | 65/66B | €271,736 | €228,151 | -€43,586 | -16.0% |
| Recurring financial charges | 65 | €271,736 | €228,151 | -€43,586 | -16.0% |
| Profit (loss) for the period before taxes | 9903 | €864,709 | €268,764 | -€595,945 | -68.9% |
| Income taxes | 67/77 | €222,923 | €68,370 | -€154,553 | -69.3% |
| Profit (loss) for the period | 9904 | €641,786 | €200,394 | -€441,392 | -68.8% |
| Profit (loss) for the period to be appropriated | 9905 | €641,786 | €200,394 | -€441,392 | -68.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.