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
- Receivables within one year -€2.7m
down €2.7m (-56.7%), from €4.7m to €2.0m
of which Trade receivables: -€2.7m
- Stocks and contracts -€1.9m
down €1.9m (-83.7%), from €2.3m to €376,955
- Cash +€166,316
up €166,316 (+8.3%), from €2.0m to €2.2m
mainly Receivables within one year (+€2.7m) and Stocks and contracts (+€1.9m)
- Short-term financial debts -€3.0m
down €3.0m (-65.6%), from €4.5m to €1.6m
- Profit (loss) carried forward -€1.2m
down €1.2m (-100.0%), from €1.2m to €79
- Tax, wage and social debts -€798,844
down €798,844 (-96.6%), from €826,616 to €27,773
- Other debts +€551,439
up €551,439 (+54.5%), from €1.0m to €1.6m
- Gross operating margin -€1.8m
down €1.8m (-95.8%), from €1.8m to €77,237
- Taxes -€463,546
down €463,546 (-100%), from €463,546 to €0
- Financial charges +€136,938
up €136,938 (+124,489,164%), from €0 to €136,938
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 | €9,018,229 | €4,588,978 | -€4.4m | -49.1% |
| Current assets | 29/58 | €9,018,229 | €4,588,978 | -€4.4m | -49.1% |
| Amounts receivable after more than one year | 29 | €13,038 | €8,065 | -€4,974 | -38.1% |
| Other amounts receivable | 291 | €13,038 | €8,065 | -€4,974 | -38.1% |
| Stocks and contracts in progress | 3 | €2,305,856 | €376,955 | -€1.9m | -83.7% |
| Contracts in progress | 37 | €2,305,856 | €376,955 | -€1.9m | -83.7% |
| Amounts receivable within one year | 40/41 | €4,690,951 | €2,029,259 | -€2.7m | -56.7% |
| Trade receivables | 40 | €4,690,951 | €1,967,760 | -€2.7m | -58.1% |
| Other amounts receivable | 41 | - | €61,498 | +€61,498 | |
| Cash at bank and in hand | 54/58 | €2,008,384 | €2,174,700 | +€166,316 | +8.3% |
| Total equity and liabilities | 10/49 | €9,018,229 | €4,588,978 | -€4.4m | -49.1% |
| Equity | 10/15 | €2,492,471 | €1,320,079 | -€1.2m | -47.0% |
| Contributions | 10/11 | €1,200,000 | €1,200,000 | = | 0.0% |
| Capital | 10 | €1,200,000 | €1,200,000 | = | 0.0% |
| Issued capital | 100 | €1,200,000 | €1,200,000 | = | 0.0% |
| Reserves | 13 | €120,000 | €120,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €120,000 | €120,000 | = | 0.0% |
| Legal reserve | 130 | €120,000 | €120,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,172,471 | €79 | -€1.2m | -100.0% |
| Amounts payable | 17/49 | €6,525,758 | €3,268,899 | -€3.3m | -49.9% |
| Amounts payable within one year | 42/48 | €6,525,758 | €3,268,716 | -€3.3m | -49.9% |
| Financial debts | 43 | €4,538,904 | €1,562,500 | -€3.0m | -65.6% |
| Other loans | 439 | €4,538,904 | €1,562,500 | -€3.0m | -65.6% |
| Trade debts | 44 | €149,271 | €116,037 | -€33,233 | -22.3% |
| Suppliers | 440/4 | €149,271 | €116,037 | -€33,233 | -22.3% |
| Taxes, remuneration and social security | 45 | €826,616 | €27,773 | -€798,844 | -96.6% |
| Taxes | 450/3 | €826,616 | €27,773 | -€798,844 | -96.6% |
| Other amounts payable | 47/48 | €1,010,967 | €1,562,406 | +€551,439 | +54.5% |
| Accrued charges and deferred income | 492/3 | - | €183 | +€183 | |
| Other operating charges | 640/8 | €3,489 | €2,693 | -€797 | -22.8% |
| Gross operating margin | 9900 | €1,843,814 | €77,237 | -€1.8m | -95.8% |
| Operating profit (loss) | 9901 | €1,840,324 | €74,545 | -€1.8m | -95.9% |
| Financial income | 75/76B | €12,596 | €2 | -€12,594 | -100.0% |
| Recurring financial income | 75 | €12,596 | €2 | -€12,594 | -100.0% |
| Financial charges | 65/66B | €0 | €136,938 | +€136,938 | +124,489,164% |
| Recurring financial charges | 65 | €0 | €136,938 | +€136,938 | +124,489,164% |
| Profit (loss) for the period before taxes | 9903 | €1,852,920 | -€62,392 | -€1.9m | |
| Income taxes | 67/77 | €463,546 | €0 | -€463,546 | -100% |
| Profit (loss) for the period | 9904 | €1,389,374 | -€62,392 | -€1.5m | |
| Profit (loss) for the period to be appropriated | 9905 | €1,389,374 | -€62,392 | -€1.5m |
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.