INGE BOETS: 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.
INGE BOETS
Largest movements
- Current investments -€219,544
down €219,544 (-16.7%), from €1.3m to €1.1m
- Receivables after one year +€26,800
up €26,800 (+3.9%), from €693,154 to €719,954
- Reserves -€180,248
down €180,248 (-60.3%), from €299,066 to €118,818
of which Distributable reserves: -€180,248
- Financial charges +€55,016
up €55,016 (+1161.2%), from €4,738 to €59,754
of which Non-recurring financial charges: +€51,061
- Depreciation +€788
up €788 (+4.1%), from €19,005 to €19,793
- Gross operating margin -€771
down €771 (-1.4%), from €53,271 to €52,500
- Financial income -€728
down €728 (-5.4%), from €13,554 to €12,826
- Taxes -€610
down €610 (-16.1%), from €3,780 to €3,170
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 | €2,557,451 | €2,363,172 | -€194,279 | -7.6% |
| Fixed assets | 21/28 | €505,008 | €496,295 | -€8,713 | -1.7% |
| Tangible fixed assets | 22/27 | €306,608 | €297,895 | -€8,713 | -2.8% |
| Land and buildings | 22 | €304,291 | €294,422 | -€9,869 | -3.2% |
| Plant, machinery and equipment | 23 | €2,317 | €3,473 | +€1,156 | +49.9% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €198,400 | €198,400 | = | 0.0% |
| Current assets | 29/58 | €2,052,443 | €1,866,877 | -€185,566 | -9.0% |
| Amounts receivable after more than one year | 29 | €693,154 | €719,954 | +€26,800 | +3.9% |
| Other amounts receivable | 291 | €693,154 | €719,954 | +€26,800 | +3.9% |
| Amounts receivable within one year | 40/41 | €13,788 | €11,594 | -€2,194 | -15.9% |
| Other amounts receivable | 41 | €13,788 | €11,594 | -€2,194 | -15.9% |
| Current investments | 50/53 | €1,318,269 | €1,098,725 | -€219,544 | -16.7% |
| Cash at bank and in hand | 54/58 | €27,232 | €36,604 | +€9,372 | +34.4% |
| Total equity and liabilities | 10/49 | €2,557,451 | €2,363,172 | -€194,279 | -7.6% |
| Equity | 10/15 | €2,549,063 | €2,350,012 | -€199,051 | -7.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | €12,400 | €12,400 | = | 0.0% |
| Issued capital | 100 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €299,066 | €118,818 | -€180,248 | -60.3% |
| Non-distributable reserves | 130/1 | €14,766 | €14,766 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Other | 1319 | €12,907 | €12,907 | = | 0.0% |
| Distributable reserves | 133 | €284,300 | €104,052 | -€180,248 | -63.4% |
| Profit (loss) carried forward | 14 | €2,237,597 | €2,218,794 | -€18,803 | -0.8% |
| Amounts payable | 17/49 | €8,388 | €13,160 | +€4,772 | +56.9% |
| Amounts payable within one year | 42/48 | €8,388 | €13,160 | +€4,772 | +56.9% |
| Trade debts | 44 | €2,492 | €9,478 | +€6,986 | +280.3% |
| Suppliers | 440/4 | €2,492 | €9,478 | +€6,986 | +280.3% |
| Taxes, remuneration and social security | 45 | €5,896 | €3,682 | -€2,214 | -37.6% |
| Taxes | 450/3 | €3,365 | €0 | -€3,365 | -100.0% |
| Remuneration and social security | 454/9 | €2,531 | €3,682 | +€1,151 | +45.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,005 | €19,793 | +€788 | +4.1% |
| Other operating charges | 640/8 | €1,489 | €1,412 | -€77 | -5.2% |
| Gross operating margin | 9900 | €53,271 | €52,500 | -€771 | -1.4% |
| Operating profit (loss) | 9901 | €32,777 | €31,295 | -€1,482 | -4.5% |
| Financial income | 75/76B | €13,554 | €12,826 | -€728 | -5.4% |
| Recurring financial income | 75 | €13,554 | €12,826 | -€728 | -5.4% |
| Financial charges | 65/66B | €4,738 | €59,754 | +€55,016 | +1161.2% |
| Recurring financial charges | 65 | €4,738 | €8,693 | +€3,955 | +83.5% |
| Non-recurring financial charges | 66B | - | €51,061 | +€51,061 | |
| Profit (loss) for the period before taxes | 9903 | €41,593 | -€15,633 | -€57,226 | |
| Income taxes | 67/77 | €3,780 | €3,170 | -€610 | -16.1% |
| Profit (loss) for the period | 9904 | €37,813 | -€18,803 | -€56,616 | |
| Profit (loss) for the period to be appropriated | 9905 | €37,813 | -€18,803 | -€56,616 |
Source: filed annual accounts (NBB), fiscal years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.