JOHN BOLLAERTS: 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.
JOHN BOLLAERTS
Largest movements
- Receivables within one year +€270,234
up €270,234 (+76.9%), from €351,551 to €621,786
of which Trade receivables: +€241,478
- Cash -€197,049
down €197,049 (-63.8%), from €308,805 to €111,757
mainly Receivables within one year (-€270,234) and Stocks and contracts (-€90,991)
- Stocks and contracts +€90,991
up €90,991 (+80.5%), from €113,043 to €204,033
- Tangible fixed assets -€16,386
down €16,386 (-26.4%), from €62,052 to €45,666
of which Furniture and vehicles: -€14,586
- Reserves +€85,617
up €85,617 (+12.5%), from €683,491 to €769,108
of which Distributable reserves: +€85,617
- Trade debts +€77,599
up €77,599 (+345.8%), from €22,443 to €100,042
- Other debts -€39,426
down €39,426 (-38.1%), from €103,611 to €64,185
- Tax, wage and social debts +€24,000
up €24,000 (+300.0%), from €8,000 to €32,000
- Turnover +€7.6m
new in 2025: €7.6m
- Purchases and services +€7.4m
new in 2025: €7.4m
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 | €836,137 | €983,927 | +€147,790 | +17.7% |
| Fixed assets | 21/28 | €62,738 | €46,352 | -€16,386 | -26.1% |
| Tangible fixed assets | 22/27 | €62,052 | €45,666 | -€16,386 | -26.4% |
| Plant, machinery and equipment | 23 | €11,000 | €9,200 | -€1,800 | -16.4% |
| Furniture and vehicles | 24 | €51,052 | €36,466 | -€14,586 | -28.6% |
| Financial fixed assets | 28 | €686 | €686 | = | 0.0% |
| Current assets | 29/58 | €773,399 | €937,575 | +€164,176 | +21.2% |
| Stocks and contracts in progress | 3 | €113,043 | €204,033 | +€90,991 | +80.5% |
| Stocks | 30/36 | €113,043 | €204,033 | +€90,991 | +80.5% |
| Amounts receivable within one year | 40/41 | €351,551 | €621,786 | +€270,234 | +76.9% |
| Trade receivables | 40 | €338,448 | €579,926 | +€241,478 | +71.3% |
| Other amounts receivable | 41 | €13,103 | €41,860 | +€28,757 | +219.5% |
| Cash at bank and in hand | 54/58 | €308,805 | €111,757 | -€197,049 | -63.8% |
| Total equity and liabilities | 10/49 | €836,137 | €983,927 | +€147,790 | +17.7% |
| Equity | 10/15 | €702,083 | €787,700 | +€85,617 | +12.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €683,491 | €769,108 | +€85,617 | +12.5% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €681,632 | €767,249 | +€85,617 | +12.6% |
| Amounts payable | 17/49 | €134,054 | €196,227 | +€62,173 | +46.4% |
| Amounts payable within one year | 42/48 | €134,054 | €196,227 | +€62,173 | +46.4% |
| Trade debts | 44 | €22,443 | €100,042 | +€77,599 | +345.8% |
| Suppliers | 440/4 | €22,443 | €100,042 | +€77,599 | +345.8% |
| Taxes, remuneration and social security | 45 | €8,000 | €32,000 | +€24,000 | +300.0% |
| Taxes | 450/3 | €8,000 | €32,000 | +€24,000 | +300.0% |
| Other amounts payable | 47/48 | €103,611 | €64,185 | -€39,426 | -38.1% |
| Turnover | 70 | - | €7,563,153 | +€7.6m | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €7,433,708 | +€7.4m | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,586 | €16,386 | -€9,200 | -36.0% |
| Other operating charges | 640/8 | €4,532 | €3,184 | -€1,347 | -29.7% |
| Gross operating margin | 9900 | €70,421 | €129,445 | +€59,025 | +83.8% |
| Operating profit (loss) | 9901 | €40,303 | €109,875 | +€69,572 | +172.6% |
| Financial income | 75/76B | €0 | €2 | +€2 | +10050.0% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +10050.0% |
| Financial charges | 65/66B | €152 | €140 | -€12 | -7.9% |
| Recurring financial charges | 65 | €152 | €140 | -€12 | -7.9% |
| Profit (loss) for the period before taxes | 9903 | €40,151 | €109,737 | +€69,586 | +173.3% |
| Income taxes | 67/77 | €8,844 | €24,120 | +€15,276 | +172.7% |
| Profit (loss) for the period | 9904 | €31,307 | €85,617 | +€54,310 | +173.5% |
| Profit (loss) for the period to be appropriated | 9905 | €31,307 | €85,617 | +€54,310 | +173.5% |
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 4 October 2026 via checked.be.