NICK DE BOEVER: 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.
NICK DE BOEVER
Largest movements
- Cash +€30,390
up €30,390 (+22.0%), from €138,130 to €168,520
mainly Depreciation (+€33,173) and Receivables within one year (+€21,642)
- Receivables within one year -€21,642
down €21,642 (-23.1%), from €93,572 to €71,931
of which Trade receivables: -€28,251
- Reserves +€13,842
up €13,842 (+2.9%), from €474,141 to €487,982
of which Distributable reserves: +€21,826
- Gross operating margin -€24,568
down €24,568 (-22.9%), from €107,193 to €82,625
- Taxes -€8,367
down €8,367 (-52.5%), from €15,947 to €7,579
- Staff costs +€1,888
up €1,888 (+7.3%), from €25,852 to €27,740
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 | €616,846 | €624,047 | +€7,200 | +1.2% |
| Fixed assets | 21/28 | €383,483 | €380,043 | -€3,440 | -0.9% |
| Tangible fixed assets | 22/27 | €382,834 | €379,394 | -€3,440 | -0.9% |
| Land and buildings | 22 | €319,819 | €332,633 | +€12,814 | +4.0% |
| Plant, machinery and equipment | 23 | €21,425 | €13,231 | -€8,194 | -38.2% |
| Furniture and vehicles | 24 | €41,590 | €33,530 | -€8,059 | -19.4% |
| Financial fixed assets | 28 | €649 | €649 | = | 0.0% |
| Current assets | 29/58 | €233,364 | €244,004 | +€10,640 | +4.6% |
| Stocks and contracts in progress | 3 | €141 | €366 | +€225 | +160% |
| Stocks | 30/36 | €141 | €366 | +€225 | +160% |
| Amounts receivable within one year | 40/41 | €93,572 | €71,931 | -€21,642 | -23.1% |
| Trade receivables | 40 | €89,898 | €61,647 | -€28,251 | -31.4% |
| Other amounts receivable | 41 | €3,675 | €10,284 | +€6,609 | +180% |
| Cash at bank and in hand | 54/58 | €138,130 | €168,520 | +€30,390 | +22.0% |
| Deferred charges and accrued income | 490/1 | €1,521 | €3,187 | +€1,667 | +110% |
| Total equity and liabilities | 10/49 | €616,846 | €624,047 | +€7,200 | +1.2% |
| Equity | 10/15 | €494,141 | €507,982 | +€13,842 | +2.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €474,141 | €487,982 | +€13,842 | +2.9% |
| Tax-exempt reserves | 132 | €182,910 | €174,925 | -€7,985 | -4.4% |
| Distributable reserves | 133 | €291,231 | €313,057 | +€21,826 | +7.5% |
| Provisions and deferred taxes | 16 | €37,562 | €34,900 | -€2,662 | -7.1% |
| Deferred taxes | 168 | €37,562 | €34,900 | -€2,662 | -7.1% |
| Amounts payable | 17/49 | €85,144 | €81,165 | -€3,980 | -4.7% |
| Amounts payable after more than one year | 17 | €67,200 | €65,765 | -€1,435 | -2.1% |
| Other amounts payable | 178/9 | €67,200 | €65,765 | -€1,435 | -2.1% |
| Amounts payable within one year | 42/48 | €17,944 | €15,400 | -€2,544 | -14.2% |
| Trade debts | 44 | €5,416 | €4,420 | -€996 | -18.4% |
| Suppliers | 440/4 | €5,416 | €4,420 | -€996 | -18.4% |
| Taxes, remuneration and social security | 45 | €12,528 | €10,980 | -€1,548 | -12.4% |
| Taxes | 450/3 | €4,000 | €2,183 | -€1,817 | -45.4% |
| Remuneration and social security | 454/9 | €8,528 | €8,798 | +€269 | +3.2% |
| Remuneration, social security and pensions | 62 | €25,852 | €27,740 | +€1,888 | +7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,131 | €33,173 | -€958 | -2.8% |
| Other operating charges | 640/8 | €1,822 | €2,862 | +€1,040 | +57.1% |
| Gross operating margin | 9900 | €107,193 | €82,625 | -€24,568 | -22.9% |
| Operating profit (loss) | 9901 | €45,388 | €18,849 | -€26,538 | -58.5% |
| Financial charges | 65/66B | €90 | €90 | = | 0.0% |
| Recurring financial charges | 65 | €90 | €90 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €45,298 | €18,759 | -€26,538 | -58.6% |
| Transfer from deferred taxes | 780 | €2,662 | €2,662 | = | 0.0% |
| Income taxes | 67/77 | €15,947 | €7,579 | -€8,367 | -52.5% |
| Profit (loss) for the period | 9904 | €32,013 | €13,842 | -€18,171 | -56.8% |
| Transfer from tax-exempt reserves | 789 | €7,985 | €7,985 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €39,997 | €21,826 | -€18,171 | -45.4% |
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 23 October 2026 via checked.be.