M.G. Boukerdous: what changed
M.G. Boukerdous
Largest movements
- Cash +€18,012
up €18,012 (+574%), from €3,137 to €21,150
mainly Depreciation (+€16,009) and Net result for the year (+€10,516)
- Intangible fixed assets -€15,779
down €15,779 (-40.0%), from €39,449 to €23,669
- Receivables within one year -€8,490
no longer reported in 2025 (was €8,490)
of which Other amounts receivable: -€4,507
- Deferred charges and accrued income -€5,202
down €5,202 (-59.4%), from €8,763 to €3,561
- Tangible fixed assets +€675
new in 2025: €675
- Reserves +€10,516
up €10,516 (+165%), from €6,374 to €16,890
- Other debts -€9,584
down €9,584 (-45.8%), from €20,946 to €11,362
- Tax, wage and social debts -€7,792
down €7,792 (-82.0%), from €9,505 to €1,713
- Trade debts -€3,924
down €3,924 (-88.9%), from €4,413 to €490
- Gross operating margin -€9,918
down €9,918 (-22.5%), from €44,028 to €34,110
- Financial charges -€855
down €855 (-31.3%), from €2,727 to €1,872
of which Financial charges: -€783
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €59,838 | €49,055 | -€10,783 | -18.0% |
| Fixed assets | 21/28 | €39,449 | €24,344 | -€15,104 | -38.3% |
| Intangible fixed assets | 21 | €39,449 | €23,669 | -€15,779 | -40.0% |
| Tangible fixed assets | 22/27 | - | €675 | +€675 | |
| Furniture and vehicles | 24 | - | €675 | +€675 | |
| Current assets | 29/58 | €20,390 | €24,711 | +€4,321 | +21.2% |
| Amounts receivable within one year | 40/41 | €8,490 | - | -€8,490 | |
| Trade receivables | 40 | €3,983 | - | -€3,983 | |
| Other amounts receivable | 41 | €4,507 | - | -€4,507 | |
| Cash at bank and in hand | 54/58 | €3,137 | €21,150 | +€18,012 | +574% |
| Deferred charges and accrued income | 490/1 | €8,763 | €3,561 | -€5,202 | -59.4% |
| Total equity and liabilities | 10/49 | €59,838 | €49,055 | -€10,783 | -18.0% |
| Equity | 10/15 | €24,974 | €35,490 | +€10,516 | +42.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €6,374 | €16,890 | +€10,516 | +165% |
| Distributable reserves | 133 | €6,374 | €16,890 | +€10,516 | +165% |
| Amounts payable | 17/49 | €34,864 | €13,565 | -€21,300 | -61.1% |
| Amounts payable within one year | 42/48 | €34,864 | €13,565 | -€21,300 | -61.1% |
| Trade debts | 44 | €4,413 | €490 | -€3,924 | -88.9% |
| Suppliers | 440/4 | €4,413 | €490 | -€3,924 | -88.9% |
| Taxes, remuneration and social security | 45 | €9,505 | €1,713 | -€7,792 | -82.0% |
| Taxes | 450/3 | €9,505 | €1,713 | -€7,792 | -82.0% |
| Other amounts payable | 47/48 | €20,946 | €11,362 | -€9,584 | -45.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,779 | €16,009 | +€230 | +1.5% |
| Other operating charges | 640/8 | €150 | - | -€150 | |
| Gross operating margin | 9900 | €44,028 | €34,110 | -€9,918 | -22.5% |
| Operating profit (loss) | 9901 | €28,099 | €18,101 | -€9,998 | -35.6% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €2,727 | €1,872 | -€855 | -31.3% |
| Recurring financial charges | 65 | €2,655 | €1,872 | -€783 | -29.5% |
| Non-recurring financial charges | 66B | €72 | - | -€72 | |
| Profit (loss) for the period before taxes | 9903 | €25,372 | €16,229 | -€9,143 | -36.0% |
| Income taxes | 67/77 | €5,978 | €5,713 | -€265 | -4.4% |
| Profit (loss) for the period | 9904 | €19,394 | €10,516 | -€8,878 | -45.8% |
| Profit (loss) for the period to be appropriated | 9905 | €19,394 | €10,516 | -€8,878 | -45.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.