SABINE BOONE: 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.
SABINE BOONE
Largest movements
- Receivables after one year +€290,650
up €290,650 (+62.4%), from €465,500 to €756,150
- Receivables within one year +€61,426
up €61,426 (+32.2%), from €190,769 to €252,195
of which Trade receivables: +€59,155
- Cash -€34,436
down €34,436 (-12.9%), from €265,949 to €231,513
mainly Receivables after one year (-€290,650) and Receivables within one year (-€61,426)
- Reserves +€248,799
up €248,799 (+67.5%), from €368,852 to €617,650
- Short-term financial debts +€83,700
up €83,700 (+32.0%), from €261,950 to €345,650
- Debts after one year -€34,095
down €34,095 (-29.1%), from €117,030 to €82,935
- Tax, wage and social debts +€23,618
up €23,618 (+14.7%), from €160,167 to €183,785
- Gross operating margin +€125,507
up €125,507 (+50.5%), from €248,311 to €373,818
- Taxes +€41,516
up €41,516 (+56.5%), from €73,523 to €115,039
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 | €973,111 | €1,303,338 | +€330,227 | +33.9% |
| Fixed assets | 21/28 | €33,652 | €37,552 | +€3,900 | +11.6% |
| Tangible fixed assets | 22/27 | €33,547 | €37,447 | +€3,900 | +11.6% |
| Land and buildings | 22 | €13,713 | €12,185 | -€1,528 | -11.1% |
| Plant, machinery and equipment | 23 | €1,019 | €900 | -€120 | -11.7% |
| Furniture and vehicles | 24 | €18,815 | €24,363 | +€5,548 | +29.5% |
| Financial fixed assets | 28 | €105 | €105 | = | 0.0% |
| Current assets | 29/58 | €939,459 | €1,265,786 | +€326,327 | +34.7% |
| Amounts receivable after more than one year | 29 | €465,500 | €756,150 | +€290,650 | +62.4% |
| Other amounts receivable | 291 | €465,500 | €756,150 | +€290,650 | +62.4% |
| Amounts receivable within one year | 40/41 | €190,769 | €252,195 | +€61,426 | +32.2% |
| Trade receivables | 40 | €190,367 | €249,523 | +€59,155 | +31.1% |
| Other amounts receivable | 41 | €402 | €2,672 | +€2,270 | +565% |
| Cash at bank and in hand | 54/58 | €265,949 | €231,513 | -€34,436 | -12.9% |
| Deferred charges and accrued income | 490/1 | €17,241 | €25,928 | +€8,687 | +50.4% |
| Total equity and liabilities | 10/49 | €973,111 | €1,303,338 | +€330,227 | +33.9% |
| Equity | 10/15 | €383,852 | €632,650 | +€248,799 | +64.8% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €368,852 | €617,650 | +€248,799 | +67.5% |
| Distributable reserves | 133 | €368,852 | €617,650 | +€248,799 | +67.5% |
| Amounts payable | 17/49 | €589,260 | €670,688 | +€81,428 | +13.8% |
| Amounts payable after more than one year | 17 | €117,030 | €82,935 | -€34,095 | -29.1% |
| Financial debts | 170/4 | €117,030 | €82,935 | -€34,095 | -29.1% |
| Amounts payable within one year | 42/48 | €459,214 | €572,119 | +€112,905 | +24.6% |
| Current portion of amounts payable after more than one year | 42 | €33,256 | €34,095 | +€839 | +2.5% |
| Financial debts | 43 | €261,950 | €345,650 | +€83,700 | +32.0% |
| Other loans | 439 | €261,950 | €345,650 | +€83,700 | +32.0% |
| Trade debts | 44 | €3,546 | €141 | -€3,404 | -96.0% |
| Suppliers | 440/4 | €3,546 | €141 | -€3,404 | -96.0% |
| Taxes, remuneration and social security | 45 | €160,167 | €183,785 | +€23,618 | +14.7% |
| Taxes | 450/3 | €160,167 | €183,785 | +€23,618 | +14.7% |
| Other amounts payable | 47/48 | €295 | €8,448 | +€8,153 | +2,761% |
| Accrued charges and deferred income | 492/3 | €13,016 | €15,634 | +€2,618 | +20.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,270 | €5,058 | +€788 | +18.5% |
| Other operating charges | 640/8 | €670 | €763 | +€93 | +13.9% |
| Gross operating margin | 9900 | €248,311 | €373,818 | +€125,507 | +50.5% |
| Operating profit (loss) | 9901 | €243,370 | €367,996 | +€124,626 | +51.2% |
| Financial income | 75/76B | €16,132 | €17,276 | +€1,144 | +7.1% |
| Recurring financial income | 75 | €16,132 | €17,276 | +€1,144 | +7.1% |
| Financial charges | 65/66B | €19,390 | €21,435 | +€2,045 | +10.5% |
| Recurring financial charges | 65 | €19,390 | €21,435 | +€2,045 | +10.5% |
| Profit (loss) for the period before taxes | 9903 | €240,112 | €363,838 | +€123,726 | +51.5% |
| Income taxes | 67/77 | €73,523 | €115,039 | +€41,516 | +56.5% |
| Profit (loss) for the period | 9904 | €166,589 | €248,799 | +€82,210 | +49.3% |
| Profit (loss) for the period to be appropriated | 9905 | €166,589 | €248,799 | +€82,210 | +49.3% |
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 28 October 2026 via checked.be.