Laurent Boels: 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.
Laurent Boels
Largest movements
- Cash +€2,552
up €2,552 (+17.3%), from €14,718 to €17,270
mainly Net result for the year (+€5,314) and Trade debts (+€2,902)
- Receivables within one year -€2,330
no longer reported in 2025 (was €2,330)
- Deferred charges and accrued income -€1,865
down €1,865 (-72.7%), from €2,567 to €702
- Tangible fixed assets -€504
down €504 (-14.2%), from €3,557 to €3,054
of which Plant, machinery and equipment: -€293
- Other debts -€10,729
down €10,729 (-68.1%), from €15,765 to €5,036
- Profit (loss) carried forward +€5,314
up €5,314 (+34.2%), from -€15,549 to -€10,235
- Trade debts +€2,902
up €2,902 (+2,986%), from €97 to €2,999
- Tax, wage and social debts +€367
up €367 (+130%), from €281 to €648
- Gross operating margin +€9,389
up €9,389, from -€1,878 to €7,511
- Depreciation -€841
down €841 (-62.5%), from €1,345 to €504
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 | €23,173 | €21,025 | -€2,147 | -9.3% |
| Fixed assets | 21/28 | €3,557 | €3,054 | -€504 | -14.2% |
| Tangible fixed assets | 22/27 | €3,557 | €3,054 | -€504 | -14.2% |
| Plant, machinery and equipment | 23 | €759 | €467 | -€293 | -38.6% |
| Furniture and vehicles | 24 | €498 | €287 | -€211 | -42.3% |
| Other tangible fixed assets | 26 | €2,300 | €2,300 | = | 0.0% |
| Current assets | 29/58 | €19,615 | €17,972 | -€1,644 | -8.4% |
| Amounts receivable within one year | 40/41 | €2,330 | - | -€2,330 | |
| Trade receivables | 40 | €2,330 | - | -€2,330 | |
| Cash at bank and in hand | 54/58 | €14,718 | €17,270 | +€2,552 | +17.3% |
| Deferred charges and accrued income | 490/1 | €2,567 | €702 | -€1,865 | -72.7% |
| Total equity and liabilities | 10/49 | €23,173 | €21,025 | -€2,147 | -9.3% |
| Equity | 10/15 | €7,029 | €12,343 | +€5,314 | +75.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €10,178 | €10,178 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €8,318 | €8,318 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,549 | -€10,235 | +€5,314 | +34.2% |
| Amounts payable | 17/49 | €16,144 | €8,682 | -€7,461 | -46.2% |
| Amounts payable within one year | 42/48 | €16,144 | €8,682 | -€7,461 | -46.2% |
| Trade debts | 44 | €97 | €2,999 | +€2,902 | +2,986% |
| Suppliers | 440/4 | €97 | €2,999 | +€2,902 | +2,986% |
| Taxes, remuneration and social security | 45 | €281 | €648 | +€367 | +130% |
| Taxes | 450/3 | €281 | €648 | +€367 | +130% |
| Other amounts payable | 47/48 | €15,765 | €5,036 | -€10,729 | -68.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,345 | €504 | -€841 | -62.5% |
| Other operating charges | 640/8 | €1,266 | €1,327 | +€61 | +4.8% |
| Gross operating margin | 9900 | -€1,878 | €7,511 | +€9,389 | |
| Operating profit (loss) | 9901 | -€4,489 | €5,680 | +€10,169 | |
| Profit (loss) for the period before taxes | 9903 | -€4,489 | €5,680 | +€10,169 | |
| Income taxes | 67/77 | €300 | €367 | +€66 | +22.1% |
| Profit (loss) for the period | 9904 | -€4,789 | €5,314 | +€10,103 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,789 | €5,314 | +€10,103 |
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 29 October 2026 via checked.be.