Sven Boen: 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.
Sven Boen
Largest movements
- Current investments +€19,651
new in 2025: €19,651
- Tangible fixed assets +€10,011
up €10,011 (+135%), from €7,419 to €17,431
of which Other tangible fixed assets: +€6,050
- Receivables within one year -€5,130
down €5,130 (-18.0%), from €28,519 to €23,389
of which Other amounts receivable: -€4,908
- Cash +€1,469
up €1,469 (+15.2%), from €9,683 to €11,152
mainly Net result for the year (+€10,791) and Tax, wage and social debts (+€8,440)
- Reserves +€10,791
up €10,791 (+40.6%), from €26,588 to €37,380
- Tax, wage and social debts +€8,440
up €8,440 (+74.2%), from €11,370 to €19,810
- Trade debts +€3,064
up €3,064 (+75.2%), from €4,074 to €7,137
- Other debts +€2,889
up €2,889 (+112%), from €2,589 to €5,479
- Gross operating margin -€21,009
down €21,009 (-49.1%), from €42,758 to €21,749
- Taxes -€5,687
down €5,687 (-46.9%), from €12,125 to €6,438
- Depreciation +€992
up €992 (+302%), from €329 to €1,321
- Financial charges -€641
down €641 (-21.9%), from €2,928 to €2,287
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 | €45,622 | €71,623 | +€26,002 | +57.0% |
| Fixed assets | 21/28 | €7,419 | €17,431 | +€10,011 | +135% |
| Tangible fixed assets | 22/27 | €7,419 | €17,431 | +€10,011 | +135% |
| Plant, machinery and equipment | 23 | - | €4,511 | +€4,511 | |
| Furniture and vehicles | 24 | €2,419 | €1,869 | -€550 | -22.7% |
| Other tangible fixed assets | 26 | €5,000 | €11,050 | +€6,050 | +121% |
| Current assets | 29/58 | €38,202 | €54,193 | +€15,990 | +41.9% |
| Amounts receivable within one year | 40/41 | €28,519 | €23,389 | -€5,130 | -18.0% |
| Trade receivables | 40 | €23,519 | €23,298 | -€222 | -0.9% |
| Other amounts receivable | 41 | €5,000 | €92 | -€4,908 | -98.2% |
| Current investments | 50/53 | - | €19,651 | +€19,651 | |
| Cash at bank and in hand | 54/58 | €9,683 | €11,152 | +€1,469 | +15.2% |
| Total equity and liabilities | 10/49 | €45,622 | €71,623 | +€26,002 | +57.0% |
| Equity | 10/15 | €27,588 | €38,380 | +€10,791 | +39.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €26,588 | €37,380 | +€10,791 | +40.6% |
| Distributable reserves | 133 | €26,588 | €37,380 | +€10,791 | +40.6% |
| Amounts payable | 17/49 | €18,033 | €33,243 | +€15,210 | +84.3% |
| Amounts payable within one year | 42/48 | €18,033 | €33,015 | +€14,982 | +83.1% |
| Trade debts | 44 | €4,074 | €7,137 | +€3,064 | +75.2% |
| Suppliers | 440/4 | €4,074 | €7,137 | +€3,064 | +75.2% |
| Advances received on contracts in progress | 46 | - | €589 | +€589 | |
| Taxes, remuneration and social security | 45 | €11,370 | €19,810 | +€8,440 | +74.2% |
| Taxes | 450/3 | €11,370 | €19,810 | +€8,440 | +74.2% |
| Other amounts payable | 47/48 | €2,589 | €5,479 | +€2,889 | +112% |
| Accrued charges and deferred income | 492/3 | - | €228 | +€228 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €329 | €1,321 | +€992 | +302% |
| Other operating charges | 640/8 | €787 | €971 | +€184 | +23.4% |
| Gross operating margin | 9900 | €42,758 | €21,749 | -€21,009 | -49.1% |
| Operating profit (loss) | 9901 | €41,642 | €19,457 | -€22,185 | -53.3% |
| Financial income | 75/76B | - | €60 | +€60 | |
| Recurring financial income | 75 | - | €60 | +€60 | |
| Financial charges | 65/66B | €2,928 | €2,287 | -€641 | -21.9% |
| Recurring financial charges | 65 | €2,928 | €2,287 | -€641 | -21.9% |
| Profit (loss) for the period before taxes | 9903 | €38,714 | €17,229 | -€21,484 | -55.5% |
| Income taxes | 67/77 | €12,125 | €6,438 | -€5,687 | -46.9% |
| Profit (loss) for the period | 9904 | €26,588 | €10,791 | -€15,797 | -59.4% |
| Profit (loss) for the period to be appropriated | 9905 | €26,588 | €10,791 | -€15,797 | -59.4% |
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 14 October 2026 via checked.be.