Kacem Boulloua: 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.
Kacem Boulloua
Largest movements
- Cash +€12,673
up €12,673 (+484%), from €2,617 to €15,290
mainly Net result for the year (+€23,518) and Tax, wage and social debts (+€8,557)
- Receivables within one year +€6,911
up €6,911 (+31.5%), from €21,948 to €28,860
of which Trade receivables: +€6,593
- Tangible fixed assets +€4,775
up €4,775, from €0 to €4,775
- Deferred charges and accrued income +€1,971
up €1,971 (+934%), from €211 to €2,182
- Profit (loss) carried forward +€23,518
up €23,518, from -€16,025 to €7,492
- Tax, wage and social debts +€8,557
up €8,557 (+673%), from €1,271 to €9,828
- Trade debts -€5,745
down €5,745 (-63.1%), from €9,108 to €3,364
- Gross operating margin +€19,882
up €19,882 (+127%), from €15,689 to €35,570
- Taxes +€6,493
up €6,493 (+570%), from €1,140 to €7,632
- Depreciation +€3,162
up €3,162 (+2,789%), from €113 to €3,275
- Financial charges -€2,796
down €2,796 (-92.3%), from €3,029 to €233
- Other operating charges +€939
new in 2025: €939
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 | €24,777 | €51,106 | +€26,330 | +106% |
| Fixed assets | 21/28 | €0 | €4,775 | +€4,775 | |
| Tangible fixed assets | 22/27 | €0 | €4,775 | +€4,775 | |
| Furniture and vehicles | 24 | €0 | €4,775 | +€4,775 | |
| Current assets | 29/58 | €24,777 | €46,332 | +€21,555 | +87.0% |
| Amounts receivable within one year | 40/41 | €21,948 | €28,860 | +€6,911 | +31.5% |
| Trade receivables | 40 | €4,055 | €10,648 | +€6,593 | +163% |
| Other amounts receivable | 41 | €17,893 | €18,212 | +€318 | +1.8% |
| Cash at bank and in hand | 54/58 | €2,617 | €15,290 | +€12,673 | +484% |
| Deferred charges and accrued income | 490/1 | €211 | €2,182 | +€1,971 | +934% |
| Total equity and liabilities | 10/49 | €24,777 | €51,106 | +€26,330 | +106% |
| Equity | 10/15 | €14,397 | €37,915 | +€23,518 | +163% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €27,922 | €27,922 | = | 0.0% |
| Distributable reserves | 133 | €27,922 | €27,922 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,025 | €7,492 | +€23,518 | |
| Amounts payable | 17/49 | €10,379 | €13,192 | +€2,812 | +27.1% |
| Amounts payable within one year | 42/48 | €10,379 | €13,192 | +€2,812 | +27.1% |
| Trade debts | 44 | €9,108 | €3,364 | -€5,745 | -63.1% |
| Suppliers | 440/4 | €9,108 | €3,364 | -€5,745 | -63.1% |
| Taxes, remuneration and social security | 45 | €1,271 | €9,828 | +€8,557 | +673% |
| Taxes | 450/3 | €1,271 | €9,828 | +€8,557 | +673% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €113 | €3,275 | +€3,162 | +2,789% |
| Other operating charges | 640/8 | - | €939 | +€939 | |
| Gross operating margin | 9900 | €15,689 | €35,570 | +€19,882 | +127% |
| Operating profit (loss) | 9901 | €15,575 | €31,356 | +€15,781 | +101% |
| Financial income | 75/76B | €109 | €27 | -€82 | -75.1% |
| Recurring financial income | 75 | €109 | €27 | -€82 | -75.1% |
| Financial charges | 65/66B | €3,029 | €233 | -€2,796 | -92.3% |
| Recurring financial charges | 65 | €3,029 | €233 | -€2,796 | -92.3% |
| Profit (loss) for the period before taxes | 9903 | €12,655 | €31,150 | +€18,495 | +146% |
| Income taxes | 67/77 | €1,140 | €7,632 | +€6,493 | +570% |
| Profit (loss) for the period | 9904 | €11,515 | €23,518 | +€12,002 | +104% |
| Profit (loss) for the period to be appropriated | 9905 | €11,515 | €23,518 | +€12,002 | +104% |
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 31 October 2026 via checked.be.