K. Boesmans: 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.
K. Boesmans
Largest movements
- Financial fixed assets +€397,924
up €397,924 (+441%), from €90,238 to €488,162
- Receivables after one year +€262,830
new in 2025: €262,830
- Tangible fixed assets -€11,650
down €11,650 (-55.5%), from €20,979 to €9,329
of which Leasing and similar rights: -€7,390
- Reserves +€745,450
up €745,450 (+11,251%), from €6,626 to €752,076
- Other debts -€96,910
down €96,910 (-70.3%), from €137,926 to €41,016
- Current portion of long-term debt -€8,251
down €8,251 (-57.9%), from €14,260 to €6,009
- Financial income +€1.4m
up €1.4m (+7,008%), from €19,941 to €1.4m
of which Non-recurring financial income: +€1.4m
- Gross operating margin -€98,876
down €98,876 (-61.0%), from €162,106 to €63,230
- Taxes -€16,857
down €16,857 (-43.8%), from €38,511 to €21,654
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 | €191,837 | €825,050 | +€633,213 | +330% |
| Fixed assets | 21/28 | €111,217 | €497,490 | +€386,273 | +347% |
| Tangible fixed assets | 22/27 | €20,979 | €9,329 | -€11,650 | -55.5% |
| Plant, machinery and equipment | 23 | €4,248 | €3,116 | -€1,132 | -26.6% |
| Furniture and vehicles | 24 | €8,086 | €4,958 | -€3,128 | -38.7% |
| Leasing and similar rights | 25 | €8,645 | €1,255 | -€7,390 | -85.5% |
| Financial fixed assets | 28 | €90,238 | €488,162 | +€397,924 | +441% |
| Current assets | 29/58 | €80,620 | €327,559 | +€246,939 | +306% |
| Amounts receivable after more than one year | 29 | - | €262,830 | +€262,830 | |
| Other amounts receivable | 291 | - | €262,830 | +€262,830 | |
| Amounts receivable within one year | 40/41 | €24,019 | €19,360 | -€4,659 | -19.4% |
| Trade receivables | 40 | €21,030 | €19,360 | -€1,670 | -7.9% |
| Other amounts receivable | 41 | €2,989 | - | -€2,989 | |
| Cash at bank and in hand | 54/58 | €48,993 | €40,875 | -€8,118 | -16.6% |
| Deferred charges and accrued income | 490/1 | €7,608 | €4,494 | -€3,114 | -40.9% |
| Total equity and liabilities | 10/49 | €191,837 | €825,050 | +€633,213 | +330% |
| Equity | 10/15 | €25,226 | €770,676 | +€745,450 | +2,955% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €6,626 | €752,076 | +€745,450 | +11,251% |
| Distributable reserves | 133 | €6,626 | €752,076 | +€745,450 | +11,251% |
| Amounts payable | 17/49 | €166,611 | €54,374 | -€112,238 | -67.4% |
| Amounts payable after more than one year | 17 | €6,009 | - | -€6,009 | |
| Financial debts | 170/4 | €6,009 | - | -€6,009 | |
| Amounts payable within one year | 42/48 | €160,602 | €54,374 | -€106,229 | -66.1% |
| Current portion of amounts payable after more than one year | 42 | €14,260 | €6,009 | -€8,251 | -57.9% |
| Trade debts | 44 | €5,728 | €479 | -€5,249 | -91.6% |
| Suppliers | 440/4 | €5,728 | €479 | -€5,249 | -91.6% |
| Taxes, remuneration and social security | 45 | €2,688 | €6,869 | +€4,181 | +156% |
| Taxes | 450/3 | €2,688 | €6,869 | +€4,181 | +156% |
| Other amounts payable | 47/48 | €137,926 | €41,016 | -€96,910 | -70.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,385 | €12,170 | -€215 | -1.7% |
| Other operating charges | 640/8 | €626 | €803 | +€177 | +28.3% |
| Gross operating margin | 9900 | €162,106 | €63,230 | -€98,876 | -61.0% |
| Operating profit (loss) | 9901 | €149,095 | €50,257 | -€98,838 | -66.3% |
| Financial income | 75/76B | €19,941 | €1,417,486 | +€1.4m | +7,008% |
| Recurring financial income | 75 | €19,941 | €7,597 | -€12,344 | -61.9% |
| Non-recurring financial income | 76B | - | €1,409,890 | +€1.4m | |
| Financial charges | 65/66B | €965 | €639 | -€326 | -33.8% |
| Recurring financial charges | 65 | €965 | €639 | -€326 | -33.8% |
| Profit (loss) for the period before taxes | 9903 | €168,071 | €1,467,104 | +€1.3m | +773% |
| Income taxes | 67/77 | €38,511 | €21,654 | -€16,857 | -43.8% |
| Profit (loss) for the period | 9904 | €129,560 | €1,445,450 | +€1.3m | +1,016% |
| Profit (loss) for the period to be appropriated | 9905 | €129,560 | €1,445,450 | +€1.3m | +1,016% |
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 19 October 2026 via checked.be.