Nic Boydens: 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.
Nic Boydens
Largest movements
- Cash -€214,873
down €214,873 (-70.6%), from €304,254 to €89,381
mainly Contributions, distributions and other (-€325,000) and Current investments (-€200,000)
- Current investments +€200,000
new in 2025: €200,000
- Tangible fixed assets -€17,528
down €17,528 (-21.8%), from €80,486 to €62,957
- Reserves -€138,777
down €138,777 (-37.8%), from €366,787 to €228,010
- Other debts +€99,750
up €99,750 (+10,175%), from €980 to €100,730
- Tax, wage and social debts +€6,408
up €6,408 (+23.4%), from €27,416 to €33,823
- Depreciation +€10,373
up €10,373 (+145%), from €7,155 to €17,528
- Gross operating margin +€6,378
up €6,378 (+2.5%), from €255,413 to €261,791
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 | €399,739 | €367,989 | -€31,750 | -7.9% |
| Fixed assets | 21/28 | €80,486 | €62,957 | -€17,528 | -21.8% |
| Tangible fixed assets | 22/27 | €80,486 | €62,957 | -€17,528 | -21.8% |
| Furniture and vehicles | 24 | €80,486 | €62,957 | -€17,528 | -21.8% |
| Current assets | 29/58 | €319,253 | €305,032 | -€14,222 | -4.5% |
| Amounts receivable within one year | 40/41 | €13,570 | €13,997 | +€427 | +3.1% |
| Trade receivables | 40 | €5,195 | €0 | -€5,195 | -100% |
| Other amounts receivable | 41 | €8,376 | €13,997 | +€5,622 | +67.1% |
| Current investments | 50/53 | - | €200,000 | +€200,000 | |
| Cash at bank and in hand | 54/58 | €304,254 | €89,381 | -€214,873 | -70.6% |
| Deferred charges and accrued income | 490/1 | €1,429 | €1,653 | +€224 | +15.7% |
| Total equity and liabilities | 10/49 | €399,739 | €367,989 | -€31,750 | -7.9% |
| Equity | 10/15 | €369,287 | €230,510 | -€138,777 | -37.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €366,787 | €228,010 | -€138,777 | -37.8% |
| Distributable reserves | 133 | €366,787 | €228,010 | -€138,777 | -37.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €30,453 | €137,479 | +€107,027 | +351% |
| Amounts payable within one year | 42/48 | €30,453 | €137,479 | +€107,027 | +351% |
| Financial debts | 43 | €198 | €626 | +€429 | +217% |
| Credit institutions | 430/8 | €198 | €626 | +€429 | +217% |
| Trade debts | 44 | €1,859 | €2,300 | +€441 | +23.7% |
| Suppliers | 440/4 | €1,859 | €2,300 | +€441 | +23.7% |
| Taxes, remuneration and social security | 45 | €27,416 | €33,823 | +€6,408 | +23.4% |
| Taxes | 450/3 | €27,416 | €33,823 | +€6,408 | +23.4% |
| Other amounts payable | 47/48 | €980 | €100,730 | +€99,750 | +10,175% |
| Non-recurring operating income | 76A | €13,445 | €0 | -€13,445 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,155 | €17,528 | +€10,373 | +145% |
| Other operating charges | 640/8 | €577 | €1,585 | +€1,008 | +175% |
| Gross operating margin | 9900 | €255,413 | €261,791 | +€6,378 | +2.5% |
| Operating profit (loss) | 9901 | €247,681 | €242,678 | -€5,003 | -2.0% |
| Financial income | 75/76B | €0 | €964 | +€964 | +1,071,400% |
| Recurring financial income | 75 | €0 | €964 | +€964 | +1,071,400% |
| Financial charges | 65/66B | €492 | €564 | +€72 | +14.7% |
| Recurring financial charges | 65 | €492 | €564 | +€72 | +14.7% |
| Profit (loss) for the period before taxes | 9903 | €247,189 | €243,078 | -€4,111 | -1.7% |
| Income taxes | 67/77 | €56,624 | €56,855 | +€231 | +0.4% |
| Profit (loss) for the period | 9904 | €190,565 | €186,223 | -€4,342 | -2.3% |
| Profit (loss) for the period to be appropriated | 9905 | €190,565 | €186,223 | -€4,342 | -2.3% |
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.