What changed?
Two fiscal 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.
BOULONS MAYER
Largest movements
- Cash +€30,774
up €30,774 (+10.6%), from €289,398 to €320,173
mainly Net result for the year (+€15,053) and Depreciation (+€6,215)
- Tangible fixed assets -€6,215
down €6,215 (-24.7%), from €25,179 to €18,964
of which Other tangible fixed assets: -€5,269
- Reserves +€15,053
up €15,053 (+8.9%), from €168,847 to €183,900
- Gross operating margin -€15,215
down €15,215 (-43.9%), from €34,645 to €19,430
- Financial income +€5,187
new in 2025: €5,187
- Write-downs -€1,711
no longer reported in 2025 (was €1,711)
- Other operating charges +€1,312
new in 2025: €1,312
- Taxes -€1,009
down €1,009 (-36.0%), from €2,802 to €1,793
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.
Cash bridge derived
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 | €349,036 | €368,197 | +€19,161 | +5.5% |
| Fixed assets | 21/28 | €25,179 | €18,964 | -€6,215 | -24.7% |
| Tangible fixed assets | 22/27 | €25,179 | €18,964 | -€6,215 | -24.7% |
| Plant, machinery and equipment | 23 | €1,282 | €683 | -€599 | -46.7% |
| Furniture and vehicles | 24 | €1,483 | €1,136 | -€347 | -23.4% |
| Other tangible fixed assets | 26 | €22,415 | €17,146 | -€5,269 | -23.5% |
| Current assets | 29/58 | €323,856 | €349,233 | +€25,377 | +7.8% |
| Amounts receivable within one year | 40/41 | €31,675 | €29,060 | -€2,615 | -8.3% |
| Trade receivables | 40 | €31,675 | €27,901 | -€3,775 | -11.9% |
| Other amounts receivable | 41 | - | €1,159 | +€1,159 | |
| Cash at bank and in hand | 54/58 | €289,398 | €320,173 | +€30,774 | +10.6% |
| Deferred charges and accrued income | 490/1 | €2,782 | - | -€2,782 | |
| Total equity and liabilities | 10/49 | €349,036 | €368,197 | +€19,161 | +5.5% |
| Equity | 10/15 | €318,282 | €333,335 | +€15,053 | +4.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | - | €62,000 | +€62,000 | |
| Issued capital | 100 | - | €62,000 | +€62,000 | |
| Reserves | 13 | €168,847 | €183,900 | +€15,053 | +8.9% |
| Distributable reserves | 133 | €168,847 | €183,900 | +€15,053 | +8.9% |
| Profit (loss) carried forward | 14 | €87,435 | €87,435 | = | 0.0% |
| Amounts payable | 17/49 | €30,754 | €34,862 | +€4,108 | +13.4% |
| Amounts payable within one year | 42/48 | €30,754 | €31,642 | +€888 | +2.9% |
| Trade debts | 44 | €24,052 | €23,634 | -€417 | -1.7% |
| Suppliers | 440/4 | €24,052 | €23,634 | -€417 | -1.7% |
| Taxes, remuneration and social security | 45 | €4,231 | €5,608 | +€1,377 | +32.5% |
| Taxes | 450/3 | €4,231 | €3,108 | -€1,123 | -26.5% |
| Remuneration and social security | 454/9 | - | €2,500 | +€2,500 | |
| Other amounts payable | 47/48 | €2,471 | €2,400 | -€71 | -2.9% |
| Accrued charges and deferred income | 492/3 | - | €3,220 | +€3,220 | |
| Non-recurring operating income | 76A | - | €826 | +€826 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,276 | €6,215 | +€939 | +17.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,711 | - | -€1,711 | |
| Other operating charges | 640/8 | - | €1,312 | +€1,312 | |
| Gross operating margin | 9900 | €34,645 | €19,430 | -€15,215 | -43.9% |
| Operating profit (loss) | 9901 | €27,658 | €11,903 | -€15,756 | -57.0% |
| Financial income | 75/76B | - | €5,187 | +€5,187 | |
| Recurring financial income | 75 | - | €5,187 | +€5,187 | |
| Financial charges | 65/66B | €213 | €244 | +€31 | +14.4% |
| Recurring financial charges | 65 | €213 | €244 | +€31 | +14.4% |
| Profit (loss) for the period before taxes | 9903 | €27,445 | €16,846 | -€10,599 | -38.6% |
| Income taxes | 67/77 | €2,802 | €1,793 | -€1,009 | -36.0% |
| Profit (loss) for the period | 9904 | €24,643 | €15,053 | -€9,591 | -38.9% |
| Profit (loss) for the period to be appropriated | 9905 | €24,643 | €15,053 | -€9,591 | -38.9% |
Source: filed annual accounts (NBB), fiscal 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 September 2026 via checked.be.