Simon Boelens: 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.
Simon Boelens
Largest movements
- Stocks and contracts +€22,697
up €22,697 (+35.0%), from €64,783 to €87,480
- Receivables within one year -€11,303
down €11,303 (-93.6%), from €12,082 to €779
of which Other amounts receivable: -€6,843
- Cash -€3,378
down €3,378 (-98.9%), from €3,416 to €38
mainly Stocks and contracts (-€22,697) and Other debts (-€3,130)
- Trade debts +€13,169
up €13,169 (+282%), from €4,668 to €17,837
- Other debts -€3,130
down €3,130 (-4.2%), from €75,379 to €72,249
- Profit (loss) carried forward -€1,554
down €1,554 (-9.5%), from -€16,415 to -€17,969
- Gross operating margin -€2,318
down €2,318, from €1,463 to -€855
- Other operating charges -€284
down €284 (-65.0%), from €438 to €153
- Financial charges -€112
down €112 (-54.8%), from €205 to €93
- Depreciation +€96
up €96 (+28.2%), from €339 to €434
- Staff costs +€18
new in 2025: €18
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 | €82,392 | €90,888 | +€8,496 | +10.3% |
| Fixed assets | 21/28 | €943 | €1,349 | +€407 | +43.2% |
| Tangible fixed assets | 22/27 | €943 | €1,349 | +€407 | +43.2% |
| Plant, machinery and equipment | 23 | €943 | €1,349 | +€407 | +43.2% |
| Current assets | 29/58 | €81,449 | €89,538 | +€8,089 | +9.9% |
| Stocks and contracts in progress | 3 | €64,783 | €87,480 | +€22,697 | +35.0% |
| Stocks | 30/36 | €64,783 | €87,480 | +€22,697 | +35.0% |
| Amounts receivable within one year | 40/41 | €12,082 | €779 | -€11,303 | -93.6% |
| Trade receivables | 40 | €4,461 | - | -€4,461 | |
| Other amounts receivable | 41 | €7,622 | €779 | -€6,843 | -89.8% |
| Cash at bank and in hand | 54/58 | €3,416 | €38 | -€3,378 | -98.9% |
| Deferred charges and accrued income | 490/1 | €1,168 | €1,241 | +€73 | +6.3% |
| Total equity and liabilities | 10/49 | €82,392 | €90,888 | +€8,496 | +10.3% |
| Equity | 10/15 | €2,345 | €791 | -€1,554 | -66.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €159 | €159 | = | 0.0% |
| Distributable reserves | 133 | €159 | €159 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,415 | -€17,969 | -€1,554 | -9.5% |
| Amounts payable | 17/49 | €80,047 | €90,097 | +€10,050 | +12.6% |
| Amounts payable within one year | 42/48 | €80,047 | €90,097 | +€10,050 | +12.6% |
| Trade debts | 44 | €4,668 | €17,837 | +€13,169 | +282% |
| Suppliers | 440/4 | €4,668 | €17,837 | +€13,169 | +282% |
| Taxes, remuneration and social security | 45 | - | €11 | +€11 | |
| Taxes | 450/3 | - | €11 | +€11 | |
| Other amounts payable | 47/48 | €75,379 | €72,249 | -€3,130 | -4.2% |
| Remuneration, social security and pensions | 62 | - | €18 | +€18 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €339 | €434 | +€96 | +28.2% |
| Other operating charges | 640/8 | €438 | €153 | -€284 | -65.0% |
| Gross operating margin | 9900 | €1,463 | -€855 | -€2,318 | |
| Operating profit (loss) | 9901 | €687 | -€1,461 | -€2,148 | |
| Financial charges | 65/66B | €205 | €93 | -€112 | -54.8% |
| Recurring financial charges | 65 | €205 | €93 | -€112 | -54.8% |
| Profit (loss) for the period before taxes | 9903 | €481 | -€1,554 | -€2,035 | |
| Profit (loss) for the period | 9904 | €481 | -€1,554 | -€2,035 | |
| Profit (loss) for the period to be appropriated | 9905 | €481 | -€1,554 | -€2,035 |
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.