M BOUCHE: 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.
M BOUCHE
Largest movements
- Receivables within one year +€341,010
up €341,010 (+73.4%), from €464,672 to €805,682
- Current investments -€162,568
down €162,568 (-100.0%), from €162,568 to €0
- Deferred charges and accrued income +€50,000
new in 2025: €50,000
- Cash -€31,724
down €31,724 (-60.7%), from €52,296 to €20,572
mainly Receivables within one year (-€341,010) and Deferred charges and accrued income (-€50,000)
- Reserves +€285,486
up €285,486 (+33.4%), from €853,674 to €1.1m
of which Distributable reserves: +€285,486
- Accrued charges and deferred income -€49,942
down €49,942 (-100.0%), from €49,942 to €0
- Current portion of long-term debt -€30,818
down €30,818 (-83.2%), from €37,037 to €6,219
- Tax, wage and social debts -€13,929
down €13,929 (-90.4%), from €15,409 to €1,480
- Financial income +€94,727
up €94,727 (+207.4%), from €45,678 to €140,406
- Gross operating margin -€37,940
down €37,940 (-13.7%), from €276,595 to €238,655
- Taxes +€13,634
up €13,634 (+31.7%), from €42,985 to €56,619
- Financial charges +€11,216
up €11,216 (+516.7%), from €2,171 to €13,387
- Depreciation +€3,303
up €3,303 (+18.7%), from €17,642 to €20,945
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 | €1,124,881 | €1,322,308 | +€197,427 | +17.6% |
| Fixed assets | 21/28 | €445,345 | €446,053 | +€709 | +0.2% |
| Tangible fixed assets | 22/27 | €143,410 | €144,119 | +€709 | +0.5% |
| Land and buildings | 22 | €110,990 | €117,278 | +€6,288 | +5.7% |
| Plant, machinery and equipment | 23 | €8,220 | €4,449 | -€3,771 | -45.9% |
| Furniture and vehicles | 24 | €17,499 | €15,692 | -€1,807 | -10.3% |
| Other tangible fixed assets | 26 | €6,700 | €6,700 | = | 0.0% |
| Financial fixed assets | 28 | €301,935 | €301,935 | = | 0.0% |
| Current assets | 29/58 | €679,536 | €876,254 | +€196,718 | +28.9% |
| Amounts receivable within one year | 40/41 | €464,672 | €805,682 | +€341,010 | +73.4% |
| Other amounts receivable | 41 | €464,672 | €805,682 | +€341,010 | +73.4% |
| Current investments | 50/53 | €162,568 | €0 | -€162,568 | -100.0% |
| Cash at bank and in hand | 54/58 | €52,296 | €20,572 | -€31,724 | -60.7% |
| Deferred charges and accrued income | 490/1 | - | €50,000 | +€50,000 | |
| Total equity and liabilities | 10/49 | €1,124,881 | €1,322,308 | +€197,427 | +17.6% |
| Equity | 10/15 | €897,274 | €1,182,760 | +€285,486 | +31.8% |
| Contributions | 10/11 | €43,600 | €43,600 | = | 0.0% |
| Reserves | 13 | €853,674 | €1,139,160 | +€285,486 | +33.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €853,674 | €1,139,160 | +€285,486 | +33.4% |
| Provisions and deferred taxes | 16 | €75,000 | €75,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €75,000 | €75,000 | = | 0.0% |
| Environmental obligations | 163 | €75,000 | €0 | -€75,000 | -100.0% |
| Other liabilities and charges | 164/5 | - | €75,000 | +€75,000 | |
| Amounts payable | 17/49 | €152,607 | €64,547 | -€88,059 | -57.7% |
| Amounts payable after more than one year | 17 | €6,219 | €0 | -€6,219 | -100.0% |
| Financial debts | 170/4 | €6,219 | €0 | -€6,219 | -100.0% |
| Amounts payable within one year | 42/48 | €96,446 | €64,547 | -€31,898 | -33.1% |
| Current portion of amounts payable after more than one year | 42 | €37,037 | €6,219 | -€30,818 | -83.2% |
| Financial debts | 43 | €11,850 | €18,545 | +€6,695 | +56.5% |
| Credit institutions | 430/8 | €11,850 | €18,545 | +€6,695 | +56.5% |
| Trade debts | 44 | €9,091 | €2,244 | -€6,847 | -75.3% |
| Suppliers | 440/4 | €9,091 | €2,244 | -€6,847 | -75.3% |
| Taxes, remuneration and social security | 45 | €15,409 | €1,480 | -€13,929 | -90.4% |
| Taxes | 450/3 | €15,409 | €1,480 | -€13,929 | -90.4% |
| Other amounts payable | 47/48 | €23,058 | €36,059 | +€13,000 | +56.4% |
| Accrued charges and deferred income | 492/3 | €49,942 | €0 | -€49,942 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,642 | €20,945 | +€3,303 | +18.7% |
| Other operating charges | 640/8 | €2,489 | €2,623 | +€134 | +5.4% |
| Gross operating margin | 9900 | €276,595 | €238,655 | -€37,940 | -13.7% |
| Operating profit (loss) | 9901 | €256,464 | €215,087 | -€41,377 | -16.1% |
| Financial income | 75/76B | €45,678 | €140,406 | +€94,727 | +207.4% |
| Recurring financial income | 75 | €45,678 | €140,406 | +€94,727 | +207.4% |
| Financial charges | 65/66B | €2,171 | €13,387 | +€11,216 | +516.7% |
| Recurring financial charges | 65 | €2,171 | €13,387 | +€11,216 | +516.7% |
| Profit (loss) for the period before taxes | 9903 | €299,972 | €342,106 | +€42,134 | +14.0% |
| Income taxes | 67/77 | €42,985 | €56,619 | +€13,634 | +31.7% |
| Profit (loss) for the period | 9904 | €256,987 | €285,486 | +€28,499 | +11.1% |
| Profit (loss) for the period to be appropriated | 9905 | €256,987 | €285,486 | +€28,499 | +11.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.