Le Bouhay: 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.
Le Bouhay
Largest movements
- Tangible fixed assets +€1.7m
up €1.7m (+315%), from €535,402 to €2.2m
- Receivables after one year -€943,231
no longer reported in 2025 (was €943,231)
- Debts after one year +€380,552
up €380,552 (+496%), from €76,725 to €457,277
of which Other amounts payable: +€414,908
- Reserves +€254,850
up €254,850 (+34.4%), from €741,805 to €996,655
of which Tax-exempt reserves: +€254,850
- Provisions +€84,950
up €84,950 (+34.8%), from €244,376 to €329,326
- Profit (loss) carried forward +€34,655
up €34,655 (+12.8%), from €271,290 to €305,945
- Gross operating margin +€393,941
up €393,941 (+1,134%), from €34,726 to €428,667
- Taxes +€12,489
up €12,489 (+6,137%), from €204 to €12,693
- Depreciation +€5,722
up €5,722 (+15.4%), from €37,261 to €42,982
- Other operating charges -€4,757
down €4,757 (-48.7%), from €9,763 to €5,005
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 | €1,486,895 | €2,227,684 | +€740,790 | +49.8% |
| Fixed assets | 21/28 | €535,402 | €2,221,632 | +€1.7m | +315% |
| Tangible fixed assets | 22/27 | €535,402 | €2,221,632 | +€1.7m | +315% |
| Land and buildings | 22 | €535,402 | €2,221,632 | +€1.7m | +315% |
| Current assets | 29/58 | €951,493 | €6,052 | -€945,441 | -99.4% |
| Amounts receivable after more than one year | 29 | €943,231 | - | -€943,231 | |
| Other amounts receivable | 291 | €943,231 | - | -€943,231 | |
| Amounts receivable within one year | 40/41 | €144 | - | -€144 | |
| Trade receivables | 40 | €144 | - | -€144 | |
| Cash at bank and in hand | 54/58 | €6,325 | €6,031 | -€295 | -4.7% |
| Deferred charges and accrued income | 490/1 | €1,793 | €22 | -€1,772 | -98.8% |
| Total equity and liabilities | 10/49 | €1,486,895 | €2,227,684 | +€740,790 | +49.8% |
| Equity | 10/15 | €1,099,859 | €1,389,364 | +€289,505 | +26.3% |
| Contributions | 10/11 | €86,763 | €86,763 | = | 0.0% |
| Capital | 10 | €86,763 | €86,763 | = | 0.0% |
| Issued capital | 100 | €86,763 | €86,763 | = | 0.0% |
| Reserves | 13 | €741,805 | €996,655 | +€254,850 | +34.4% |
| Non-distributable reserves | 130/1 | €8,676 | €8,676 | = | 0.0% |
| Legal reserve | 130 | €8,676 | €8,676 | = | 0.0% |
| Tax-exempt reserves | 132 | €733,129 | €987,979 | +€254,850 | +34.8% |
| Profit (loss) carried forward | 14 | €271,290 | €305,945 | +€34,655 | +12.8% |
| Provisions and deferred taxes | 16 | €244,376 | €329,326 | +€84,950 | +34.8% |
| Deferred taxes | 168 | €244,376 | €329,326 | +€84,950 | +34.8% |
| Amounts payable | 17/49 | €142,660 | €508,994 | +€366,334 | +257% |
| Amounts payable after more than one year | 17 | €76,725 | €457,277 | +€380,552 | +496% |
| Financial debts | 170/4 | €76,725 | €42,369 | -€34,356 | -44.8% |
| Other amounts payable | 178/9 | - | €414,908 | +€414,908 | |
| Amounts payable within one year | 42/48 | €65,294 | €50,953 | -€14,341 | -22.0% |
| Current portion of amounts payable after more than one year | 42 | €32,642 | €34,356 | +€1,714 | +5.3% |
| Financial debts | 43 | €2,645 | €2,784 | +€139 | +5.3% |
| Other loans | 439 | €2,645 | €2,784 | +€139 | +5.3% |
| Trade debts | 44 | €2,674 | €376 | -€2,298 | -85.9% |
| Suppliers | 440/4 | €2,674 | €376 | -€2,298 | -85.9% |
| Advances received on contracts in progress | 46 | - | €540 | +€540 | |
| Taxes, remuneration and social security | 45 | €27,333 | €12,896 | -€14,437 | -52.8% |
| Taxes | 450/3 | €27,333 | €12,896 | -€14,437 | -52.8% |
| Accrued charges and deferred income | 492/3 | €640 | €764 | +€123 | +19.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,261 | €42,982 | +€5,722 | +15.4% |
| Other operating charges | 640/8 | €9,763 | €5,005 | -€4,757 | -48.7% |
| Gross operating margin | 9900 | €34,726 | €428,667 | +€393,941 | +1,134% |
| Operating profit (loss) | 9901 | -€12,298 | €380,679 | +€392,977 | |
| Financial income | 75/76B | €9,573 | €13,644 | +€4,071 | +42.5% |
| Recurring financial income | 75 | €9,573 | €13,644 | +€4,071 | +42.5% |
| Financial charges | 65/66B | €7,046 | €7,176 | +€130 | +1.8% |
| Recurring financial charges | 65 | €7,046 | €7,176 | +€130 | +1.8% |
| Profit (loss) for the period before taxes | 9903 | -€9,770 | €387,148 | +€396,918 | |
| Transfer from deferred taxes | 780 | €2,621 | €18,532 | +€15,911 | +607% |
| Transfer to deferred taxes | 680 | - | €103,482 | +€103,482 | |
| Income taxes | 67/77 | €204 | €12,693 | +€12,489 | +6,137% |
| Profit (loss) for the period | 9904 | -€7,353 | €289,505 | +€296,858 | |
| Transfer from tax-exempt reserves | 789 | €7,863 | €55,596 | +€47,733 | +607% |
| Transfer to tax-exempt reserves | 689 | - | €310,446 | +€310,446 | |
| Profit (loss) for the period to be appropriated | 9905 | €510 | €34,655 | +€34,145 | +6,693% |
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 20 October 2026 via checked.be.