Het Boerenerf: 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.
Het Boerenerf
Largest movements
- Stocks and contracts +€113,716
up €113,716 (+36.3%), from €312,873 to €426,590
- Tangible fixed assets -€64,232
down €64,232 (-18.3%), from €350,532 to €286,300
of which Plant, machinery and equipment: -€64,911
- Receivables within one year -€17,859
down €17,859 (-33.1%), from €53,970 to €36,111
of which Trade receivables: -€11,342
- Cash -€12,864
down €12,864 (-36.3%), from €35,482 to €22,618
mainly Stocks and contracts (-€113,716) and Net result for the year (-€54,389)
- Trade debts +€68,538
up €68,538 (+263%), from €26,081 to €94,618
- Profit (loss) carried forward -€54,389
down €54,389 (-1,711%), from -€3,179 to -€57,568
- Other debts +€42,731
up €42,731 (+43.9%), from €97,397 to €140,127
- Tax, wage and social debts -€41,980
down €41,980 (-74.7%), from €56,200 to €14,220
of which Remuneration and social security: -€25,653
- Debts after one year -€36,938
down €36,938 (-9.6%), from €385,444 to €348,506
- Gross operating margin +€81,564
up €81,564 (+68.1%), from €119,732 to €201,295
- Staff costs +€38,444
up €38,444 (+45.6%), from €84,343 to €122,787
- Depreciation +€12,913
up €12,913 (+16.7%), from €77,466 to €90,379
- Other operating charges +€10,954
up €10,954 (+125%), from €8,797 to €19,751
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 | €859,936 | €871,365 | +€11,429 | +1.3% |
| Fixed assets | 21/28 | €378,962 | €314,063 | -€64,899 | -17.1% |
| Intangible fixed assets | 21 | €23,700 | €22,533 | -€1,167 | -4.9% |
| Tangible fixed assets | 22/27 | €350,532 | €286,300 | -€64,232 | -18.3% |
| Plant, machinery and equipment | 23 | €266,819 | €201,908 | -€64,911 | -24.3% |
| Furniture and vehicles | 24 | €12,080 | €5,773 | -€6,307 | -52.2% |
| Leasing and similar rights | 25 | €24,491 | €29,337 | +€4,845 | +19.8% |
| Other tangible fixed assets | 26 | €47,142 | €49,282 | +€2,140 | +4.5% |
| Financial fixed assets | 28 | €4,730 | €5,230 | +€500 | +10.6% |
| Current assets | 29/58 | €480,974 | €557,302 | +€76,327 | +15.9% |
| Amounts receivable after more than one year | 29 | €22,539 | €22,539 | = | 0.0% |
| Trade receivables | 290 | €22,539 | €22,539 | = | 0.0% |
| Stocks and contracts in progress | 3 | €312,873 | €426,590 | +€113,716 | +36.3% |
| Stocks | 30/36 | €312,873 | €426,590 | +€113,716 | +36.3% |
| Amounts receivable within one year | 40/41 | €53,970 | €36,111 | -€17,859 | -33.1% |
| Trade receivables | 40 | €41,121 | €29,779 | -€11,342 | -27.6% |
| Other amounts receivable | 41 | €12,849 | €6,332 | -€6,517 | -50.7% |
| Cash at bank and in hand | 54/58 | €35,482 | €22,618 | -€12,864 | -36.3% |
| Deferred charges and accrued income | 490/1 | €56,111 | €49,444 | -€6,667 | -11.9% |
| Total equity and liabilities | 10/49 | €859,936 | €871,365 | +€11,429 | +1.3% |
| Equity | 10/15 | €104,907 | €50,517 | -€54,389 | -51.8% |
| Contributions | 10/11 | €108,085 | €108,085 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,179 | -€57,568 | -€54,389 | -1,711% |
| Amounts payable | 17/49 | €755,030 | €820,848 | +€65,818 | +8.7% |
| Amounts payable after more than one year | 17 | €385,444 | €348,506 | -€36,938 | -9.6% |
| Financial debts | 170/4 | €385,444 | €348,506 | -€36,938 | -9.6% |
| Amounts payable within one year | 42/48 | €369,586 | €472,342 | +€102,756 | +27.8% |
| Current portion of amounts payable after more than one year | 42 | €54,908 | €60,838 | +€5,930 | +10.8% |
| Financial debts | 43 | €135,000 | €140,000 | +€5,000 | +3.7% |
| Credit institutions | 430/8 | €135,000 | €140,000 | +€5,000 | +3.7% |
| Trade debts | 44 | €26,081 | €94,618 | +€68,538 | +263% |
| Suppliers | 440/4 | €26,081 | €94,618 | +€68,538 | +263% |
| Advances received on contracts in progress | 46 | - | €22,539 | +€22,539 | |
| Taxes, remuneration and social security | 45 | €56,200 | €14,220 | -€41,980 | -74.7% |
| Taxes | 450/3 | €19,725 | €3,398 | -€16,327 | -82.8% |
| Remuneration and social security | 454/9 | €36,475 | €10,822 | -€25,653 | -70.3% |
| Other amounts payable | 47/48 | €97,397 | €140,127 | +€42,731 | +43.9% |
| Remuneration, social security and pensions | 62 | €84,343 | €122,787 | +€38,444 | +45.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,466 | €90,379 | +€12,913 | +16.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €76 | +€76 | |
| Other operating charges | 640/8 | €8,797 | €19,751 | +€10,954 | +125% |
| Non-recurring operating charges | 66A | - | €896 | +€896 | |
| Gross operating margin | 9900 | €119,732 | €201,295 | +€81,564 | +68.1% |
| Operating profit (loss) | 9901 | -€50,874 | -€32,593 | +€18,281 | +35.9% |
| Financial income | 75/76B | €243 | €0 | -€243 | -100.0% |
| Recurring financial income | 75 | €243 | €0 | -€243 | -100.0% |
| Financial charges | 65/66B | €21,259 | €21,796 | +€537 | +2.5% |
| Recurring financial charges | 65 | €21,259 | €21,796 | +€537 | +2.5% |
| Profit (loss) for the period before taxes | 9903 | -€71,891 | -€54,389 | +€17,502 | +24.3% |
| Profit (loss) for the period | 9904 | -€71,891 | -€54,389 | +€17,502 | +24.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€71,891 | -€54,389 | +€17,502 | +24.3% |
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 16 October 2026 via checked.be.