Sybren Boudry: 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.
Sybren Boudry
Largest movements
- Cash +€2,904
up €2,904 (+64.4%), from €4,509 to €7,412
mainly Net result for the year (+€6,882) and Tax, wage and social debts (+€3,217)
- Tangible fixed assets -€2,007
down €2,007 (-28.6%), from €7,020 to €5,013
of which Leasing and similar rights: -€6,619
- Receivables within one year +€1,679
up €1,679 (+25.1%), from €6,683 to €8,362
of which Trade receivables: +€2,265
- Current portion of long-term debt -€3,819
no longer reported in 2025 (was €3,819)
- Tax, wage and social debts +€3,217
up €3,217 (+335%), from €959 to €4,176
- Accrued charges and deferred income +€2,400
new in 2025: €2,400
- Reserves +€882
up €882 (+59.5%), from €1,481 to €2,363
- Gross operating margin +€5,514
up €5,514 (+56.4%), from €9,783 to €15,297
- Depreciation -€1,586
down €1,586 (-91.6%), from €1,731 to €145
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 | €18,365 | €20,788 | +€2,422 | +13.2% |
| Fixed assets | 21/28 | €7,020 | €5,013 | -€2,007 | -28.6% |
| Tangible fixed assets | 22/27 | €7,020 | €5,013 | -€2,007 | -28.6% |
| Plant, machinery and equipment | 23 | €401 | €1,267 | +€866 | +216% |
| Furniture and vehicles | 24 | - | €3,746 | +€3,746 | |
| Leasing and similar rights | 25 | €6,619 | - | -€6,619 | |
| Current assets | 29/58 | €11,346 | €15,774 | +€4,429 | +39.0% |
| Amounts receivable within one year | 40/41 | €6,683 | €8,362 | +€1,679 | +25.1% |
| Trade receivables | 40 | €5,735 | €8,000 | +€2,265 | +39.5% |
| Other amounts receivable | 41 | €948 | €362 | -€586 | -61.8% |
| Cash at bank and in hand | 54/58 | €4,509 | €7,412 | +€2,904 | +64.4% |
| Deferred charges and accrued income | 490/1 | €154 | - | -€154 | |
| Total equity and liabilities | 10/49 | €18,365 | €20,788 | +€2,422 | +13.2% |
| Equity | 10/15 | €3,981 | €4,863 | +€882 | +22.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €1,481 | €2,363 | +€882 | +59.5% |
| Distributable reserves | 133 | €1,481 | €2,363 | +€882 | +59.5% |
| Amounts payable | 17/49 | €14,384 | €15,925 | +€1,540 | +10.7% |
| Amounts payable within one year | 42/48 | €14,384 | €13,525 | -€860 | -6.0% |
| Current portion of amounts payable after more than one year | 42 | €3,819 | - | -€3,819 | |
| Trade debts | 44 | €1,781 | €1,717 | -€63 | -3.6% |
| Suppliers | 440/4 | €1,781 | €1,717 | -€63 | -3.6% |
| Taxes, remuneration and social security | 45 | €959 | €4,176 | +€3,217 | +335% |
| Taxes | 450/3 | €959 | €4,176 | +€3,217 | +335% |
| Other amounts payable | 47/48 | €7,825 | €7,631 | -€194 | -2.5% |
| Accrued charges and deferred income | 492/3 | - | €2,400 | +€2,400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,731 | €145 | -€1,586 | -91.6% |
| Other operating charges | 640/8 | €287 | €415 | +€128 | +44.5% |
| Non-recurring operating charges | 66A | - | €6,619 | +€6,619 | |
| Gross operating margin | 9900 | €9,783 | €15,297 | +€5,514 | +56.4% |
| Operating profit (loss) | 9901 | €7,765 | €8,119 | +€354 | +4.6% |
| Financial income | 75/76B | €1 | €17 | +€16 | +1,234% |
| Recurring financial income | 75 | €1 | €17 | +€16 | +1,234% |
| Financial charges | 65/66B | €363 | €281 | -€82 | -22.6% |
| Recurring financial charges | 65 | €363 | €281 | -€82 | -22.6% |
| Profit (loss) for the period before taxes | 9903 | €7,403 | €7,855 | +€451 | +6.1% |
| Income taxes | 67/77 | €922 | €973 | +€51 | +5.5% |
| Profit (loss) for the period | 9904 | €6,481 | €6,882 | +€400 | +6.2% |
| Profit (loss) for the period to be appropriated | 9905 | €6,481 | €6,882 | +€400 | +6.2% |
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 15 October 2026 via checked.be.