Prins Boudewijn: 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.
Prins Boudewijn
Largest movements
- Cash +€261,094
up €261,094 (+326%), from €79,986 to €341,080
mainly Debts after one year (+€229,324) and Net result for the year (+€82,007)
- Tangible fixed assets +€165,499
up €165,499 (+25.7%), from €643,840 to €809,339
of which Land and buildings: +€166,955
- Receivables within one year -€78,503
down €78,503 (-81.0%), from €96,885 to €18,382
of which Other amounts receivable: -€51,017
- Debts after one year +€229,324
up €229,324 (+17,790%), from €1,289 to €230,613
of which Financial debts: +€229,324
- Reserves +€82,007
up €82,007 (+25.5%), from €321,678 to €403,685
of which Distributable reserves: +€82,101
- Current portion of long-term debt +€52,277
up €52,277 (+1,204%), from €4,341 to €56,617
- Accrued charges and deferred income -€12,876
down €12,876 (-53.3%), from €24,147 to €11,271
- Gross operating margin +€181,062
up €181,062 (+28.5%), from €636,132 to €817,194
- Staff costs +€61,842
up €61,842 (+10.8%), from €571,568 to €633,410
- Taxes +€34,266
up €34,266 (+997%), from €3,436 to €37,702
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 | €835,985 | €1,190,337 | +€354,352 | +42.4% |
| Fixed assets | 21/28 | €643,890 | €809,389 | +€165,499 | +25.7% |
| Tangible fixed assets | 22/27 | €643,840 | €809,339 | +€165,499 | +25.7% |
| Land and buildings | 22 | €598,431 | €765,385 | +€166,955 | +27.9% |
| Plant, machinery and equipment | 23 | €34,960 | €36,616 | +€1,656 | +4.7% |
| Furniture and vehicles | 24 | €8,349 | €5,238 | -€3,111 | -37.3% |
| Other tangible fixed assets | 26 | €2,100 | €2,100 | = | 0.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €192,095 | €380,947 | +€188,852 | +98.3% |
| Stocks and contracts in progress | 3 | €7,653 | €8,808 | +€1,155 | +15.1% |
| Stocks | 30/36 | €7,653 | €8,808 | +€1,155 | +15.1% |
| Amounts receivable within one year | 40/41 | €96,885 | €18,382 | -€78,503 | -81.0% |
| Trade receivables | 40 | €27,486 | €0 | -€27,486 | -100% |
| Other amounts receivable | 41 | €69,399 | €18,382 | -€51,017 | -73.5% |
| Cash at bank and in hand | 54/58 | €79,986 | €341,080 | +€261,094 | +326% |
| Deferred charges and accrued income | 490/1 | €7,571 | €12,677 | +€5,107 | +67.5% |
| Total equity and liabilities | 10/49 | €835,985 | €1,190,337 | +€354,352 | +42.4% |
| Equity | 10/15 | €716,919 | €798,925 | +€82,007 | +11.4% |
| Contributions | 10/11 | €23,400 | €23,400 | = | 0.0% |
| Revaluation surpluses | 12 | €371,840 | €371,840 | = | 0.0% |
| Reserves | 13 | €321,678 | €403,685 | +€82,007 | +25.5% |
| Tax-exempt reserves | 132 | €19,982 | €19,887 | -€95 | -0.5% |
| Distributable reserves | 133 | €301,697 | €383,798 | +€82,101 | +27.2% |
| Provisions and deferred taxes | 16 | €517 | €478 | -€40 | -7.7% |
| Deferred taxes | 168 | €517 | €478 | -€40 | -7.7% |
| Amounts payable | 17/49 | €118,549 | €390,934 | +€272,385 | +230% |
| Amounts payable after more than one year | 17 | €1,289 | €230,613 | +€229,324 | +17,790% |
| Financial debts | 170/4 | €0 | €229,324 | +€229,324 | |
| Other amounts payable | 178/9 | €1,289 | €1,289 | = | 0.0% |
| Amounts payable within one year | 42/48 | €93,113 | €149,050 | +€55,936 | +60.1% |
| Current portion of amounts payable after more than one year | 42 | €4,341 | €56,617 | +€52,277 | +1,204% |
| Financial debts | 43 | €0 | €10,798 | +€10,798 | |
| Credit institutions | 430/8 | €0 | €10,798 | +€10,798 | |
| Trade debts | 44 | €35,354 | €25,620 | -€9,734 | -27.5% |
| Suppliers | 440/4 | €35,354 | €25,620 | -€9,734 | -27.5% |
| Taxes, remuneration and social security | 45 | €53,419 | €56,014 | +€2,595 | +4.9% |
| Taxes | 450/3 | €3,086 | €15,417 | +€12,330 | +400% |
| Remuneration and social security | 454/9 | €50,332 | €40,597 | -€9,735 | -19.3% |
| Accrued charges and deferred income | 492/3 | €24,147 | €11,271 | -€12,876 | -53.3% |
| Remuneration, social security and pensions | 62 | €571,568 | €633,410 | +€61,842 | +10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,150 | €21,368 | -€782 | -3.5% |
| Other operating charges | 640/8 | €34,408 | €37,684 | +€3,275 | +9.5% |
| Gross operating margin | 9900 | €636,132 | €817,194 | +€181,062 | +28.5% |
| Operating profit (loss) | 9901 | €8,006 | €124,732 | +€116,726 | +1,458% |
| Financial income | 75/76B | €134 | €242 | +€108 | +80.7% |
| Recurring financial income | 75 | €134 | €242 | +€108 | +80.7% |
| Financial charges | 65/66B | €3,317 | €5,305 | +€1,988 | +60.0% |
| Recurring financial charges | 65 | €3,317 | €5,305 | +€1,988 | +60.0% |
| Profit (loss) for the period before taxes | 9903 | €4,823 | €119,668 | +€114,846 | +2,381% |
| Transfer from deferred taxes | 780 | €40 | €40 | = | 0.0% |
| Income taxes | 67/77 | €3,436 | €37,702 | +€34,266 | +997% |
| Profit (loss) for the period | 9904 | €1,426 | €82,007 | +€80,580 | +5,649% |
| Transfer from tax-exempt reserves | 789 | €95 | €95 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,521 | €82,101 | +€80,580 | +5,298% |
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 1 November 2026 via checked.be.