Naert-Bostyn: 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.
Naert-Bostyn
Largest movements
- Current investments +€122,000
new in 2025: €122,000
- Cash -€41,262
down €41,262 (-19.9%), from €206,951 to €165,688
mainly Current investments (-€122,000) and Investment in fixed assets (net) (-€38,082)
- Tangible fixed assets +€29,322
up €29,322 (+108%), from €27,129 to €56,451
of which Plant, machinery and equipment: +€32,547
- Receivables within one year +€5,508
up €5,508, from €0 to €5,508
of which Other amounts receivable: +€5,330
- Reserves +€47,677
up €47,677 (+26.8%), from €177,672 to €225,349
- Trade debts +€39,406
up €39,406 (+209%), from €18,871 to €58,277
- Debts after one year +€24,419
new in 2025: €24,419
- Current portion of long-term debt +€5,581
new in 2025: €5,581
- Tax, wage and social debts -€5,260
down €5,260 (-37.4%), from €14,061 to €8,801
of which Taxes: -€5,320
- Gross operating margin +€20,328
up €20,328 (+26.6%), from €76,279 to €96,607
- Taxes +€4,974
up €4,974 (+27.5%), from €18,095 to €23,068
- Financial income +€1,340
up €1,340 (+161%), from €834 to €2,174
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 | €245,731 | €359,236 | +€113,504 | +46.2% |
| Fixed assets | 21/28 | €27,129 | €56,451 | +€29,322 | +108% |
| Tangible fixed assets | 22/27 | €27,129 | €56,451 | +€29,322 | +108% |
| Land and buildings | 22 | €11,712 | €8,901 | -€2,811 | -24.0% |
| Plant, machinery and equipment | 23 | €14,686 | €47,232 | +€32,547 | +222% |
| Furniture and vehicles | 24 | €732 | €318 | -€414 | -56.6% |
| Current assets | 29/58 | €218,602 | €302,785 | +€84,183 | +38.5% |
| Stocks and contracts in progress | 3 | €10,390 | €9,025 | -€1,365 | -13.1% |
| Stocks | 30/36 | €10,390 | €9,025 | -€1,365 | -13.1% |
| Amounts receivable within one year | 40/41 | €0 | €5,508 | +€5,508 | |
| Trade receivables | 40 | - | €178 | +€178 | |
| Other amounts receivable | 41 | €0 | €5,330 | +€5,330 | |
| Current investments | 50/53 | - | €122,000 | +€122,000 | |
| Cash at bank and in hand | 54/58 | €206,951 | €165,688 | -€41,262 | -19.9% |
| Deferred charges and accrued income | 490/1 | €1,262 | €564 | -€698 | -55.3% |
| Total equity and liabilities | 10/49 | €245,731 | €359,236 | +€113,504 | +46.2% |
| Equity | 10/15 | €196,272 | €243,949 | +€47,677 | +24.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €177,672 | €225,349 | +€47,677 | +26.8% |
| Distributable reserves | 133 | €177,672 | €225,349 | +€47,677 | +26.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €49,459 | €115,287 | +€65,828 | +133% |
| Amounts payable after more than one year | 17 | - | €24,419 | +€24,419 | |
| Financial debts | 170/4 | - | €24,419 | +€24,419 | |
| Amounts payable within one year | 42/48 | €46,575 | €90,821 | +€44,246 | +95.0% |
| Current portion of amounts payable after more than one year | 42 | - | €5,581 | +€5,581 | |
| Trade debts | 44 | €18,871 | €58,277 | +€39,406 | +209% |
| Suppliers | 440/4 | €18,871 | €58,277 | +€39,406 | +209% |
| Taxes, remuneration and social security | 45 | €14,061 | €8,801 | -€5,260 | -37.4% |
| Taxes | 450/3 | €12,611 | €7,291 | -€5,320 | -42.2% |
| Remuneration and social security | 454/9 | €1,450 | €1,510 | +€60 | +4.1% |
| Other amounts payable | 47/48 | €13,644 | €18,162 | +€4,519 | +33.1% |
| Accrued charges and deferred income | 492/3 | €2,884 | €47 | -€2,837 | -98.4% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,605 | €8,761 | +€156 | +1.8% |
| Other operating charges | 640/8 | €1,535 | €1,679 | +€144 | +9.4% |
| Gross operating margin | 9900 | €76,279 | €96,607 | +€20,328 | +26.6% |
| Operating profit (loss) | 9901 | €66,140 | €86,167 | +€20,027 | +30.3% |
| Financial income | 75/76B | €834 | €2,174 | +€1,340 | +161% |
| Recurring financial income | 75 | €834 | €2,174 | +€1,340 | +161% |
| Financial charges | 65/66B | €4,152 | €3,320 | -€832 | -20.0% |
| Recurring financial charges | 65 | €4,152 | €3,320 | -€832 | -20.0% |
| Profit (loss) for the period before taxes | 9903 | €62,822 | €85,021 | +€22,200 | +35.3% |
| Income taxes | 67/77 | €18,095 | €23,068 | +€4,974 | +27.5% |
| Profit (loss) for the period | 9904 | €44,727 | €61,953 | +€17,226 | +38.5% |
| Profit (loss) for the period to be appropriated | 9905 | €44,727 | €61,953 | +€17,226 | +38.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.