MENUISERIE BOULANGER: 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.
MENUISERIE BOULANGER
Largest movements
- Receivables within one year +€270,382
up €270,382 (+25.7%), from €1.1m to €1.3m
of which Trade receivables: +€285,346
- Cash -€243,183
down €243,183 (-48.9%), from €497,564 to €254,382
mainly Receivables within one year (-€270,382) and Investment in fixed assets (net) (-€88,589)
- Tangible fixed assets -€88,768
down €88,768 (-12.0%), from €738,895 to €650,127
of which Furniture and vehicles: -€124,609
- Debts after one year -€54,667
down €54,667 (-30.1%), from €181,714 to €127,047
- Tax, wage and social debts -€41,308
down €41,308 (-38.5%), from €107,195 to €65,887
of which Taxes: -€21,929
- Trade debts -€30,957
down €30,957 (-64.2%), from €48,212 to €17,255
- Gross operating margin +€507,765
up €507,765 (+28.5%), from €1.8m to €2.3m
- Staff costs +€266,686
up €266,686 (+17.5%), from €1.5m to €1.8m
- Taxes +€106,130
up €106,130 (+345%), from €30,727 to €136,857
- Financial charges -€34,898
down €34,898 (-36.4%), from €95,954 to €61,056
- Financial income -€25,565
down €25,565 (-57.2%), from €44,708 to €19,143
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 | €2,598,159 | €2,509,604 | -€88,555 | -3.4% |
| Fixed assets | 21/28 | €768,084 | €679,482 | -€88,602 | -11.5% |
| Tangible fixed assets | 22/27 | €738,895 | €650,127 | -€88,768 | -12.0% |
| Plant, machinery and equipment | 23 | €359,182 | €395,023 | +€35,841 | +10.0% |
| Furniture and vehicles | 24 | €379,713 | €255,104 | -€124,609 | -32.8% |
| Financial fixed assets | 28 | €29,189 | €29,356 | +€167 | +0.6% |
| Current assets | 29/58 | €1,830,074 | €1,830,121 | +€47 | 0.0% |
| Stocks and contracts in progress | 3 | €233,598 | €216,870 | -€16,728 | -7.2% |
| Stocks | 30/36 | €233,598 | €216,870 | -€16,728 | -7.2% |
| Amounts receivable within one year | 40/41 | €1,052,603 | €1,322,986 | +€270,382 | +25.7% |
| Trade receivables | 40 | €818,495 | €1,103,841 | +€285,346 | +34.9% |
| Other amounts receivable | 41 | €234,108 | €219,144 | -€14,964 | -6.4% |
| Cash at bank and in hand | 54/58 | €497,564 | €254,382 | -€243,183 | -48.9% |
| Deferred charges and accrued income | 490/1 | €46,309 | €35,884 | -€10,425 | -22.5% |
| Total equity and liabilities | 10/49 | €2,598,159 | €2,509,604 | -€88,555 | -3.4% |
| Equity | 10/15 | €1,508,859 | €1,519,144 | +€10,286 | +0.7% |
| Contributions | 10/11 | €385,000 | €385,000 | = | 0.0% |
| Reserves | 13 | €398,586 | €398,586 | = | 0.0% |
| Non-distributable reserves | 130/1 | €29,086 | €29,086 | = | 0.0% |
| Reserves not available under the articles | 1311 | €29,086 | €29,086 | = | 0.0% |
| Distributable reserves | 133 | €369,500 | €369,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €700,336 | €717,385 | +€17,049 | +2.4% |
| Investment grants | 15 | €24,937 | €18,174 | -€6,764 | -27.1% |
| Amounts payable | 17/49 | €1,089,300 | €990,459 | -€98,840 | -9.1% |
| Amounts payable after more than one year | 17 | €181,714 | €127,047 | -€54,667 | -30.1% |
| Financial debts | 170/4 | €181,714 | €127,047 | -€54,667 | -30.1% |
| Amounts payable within one year | 42/48 | €907,585 | €856,790 | -€50,796 | -5.6% |
| Current portion of amounts payable after more than one year | 42 | €48,121 | €45,231 | -€2,890 | -6.0% |
| Trade debts | 44 | €48,212 | €17,255 | -€30,957 | -64.2% |
| Suppliers | 440/4 | €48,212 | €17,255 | -€30,957 | -64.2% |
| Taxes, remuneration and social security | 45 | €107,195 | €65,887 | -€41,308 | -38.5% |
| Taxes | 450/3 | €40,159 | €18,230 | -€21,929 | -54.6% |
| Remuneration and social security | 454/9 | €67,036 | €47,657 | -€19,379 | -28.9% |
| Other amounts payable | 47/48 | €704,058 | €728,417 | +€24,359 | +3.5% |
| Accrued charges and deferred income | 492/3 | - | €6,622 | +€6,622 | |
| Remuneration, social security and pensions | 62 | €1,528,044 | €1,794,729 | +€266,686 | +17.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €160,596 | €177,191 | +€16,594 | +10.3% |
| Other operating charges | 640/8 | €3,992 | €6,809 | +€2,816 | +70.5% |
| Non-recurring operating charges | 66A | €28,548 | €116,342 | +€87,794 | +308% |
| Gross operating margin | 9900 | €1,783,124 | €2,290,889 | +€507,765 | +28.5% |
| Operating profit (loss) | 9901 | €61,943 | €195,818 | +€133,875 | +216% |
| Financial income | 75/76B | €44,708 | €19,143 | -€25,565 | -57.2% |
| Recurring financial income | 75 | €44,708 | €19,143 | -€25,565 | -57.2% |
| Financial charges | 65/66B | €95,954 | €61,056 | -€34,898 | -36.4% |
| Recurring financial charges | 65 | €95,954 | €61,056 | -€34,898 | -36.4% |
| Profit (loss) for the period before taxes | 9903 | €10,698 | €153,906 | +€143,208 | +1,339% |
| Income taxes | 67/77 | €30,727 | €136,857 | +€106,130 | +345% |
| Profit (loss) for the period | 9904 | -€20,029 | €17,049 | +€37,078 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,029 | €17,049 | +€37,078 |
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 27 October 2026 via checked.be.