Boël studied at the industrial school of Houdeng-Aimeries and in 1851, at the age of 14, started working at the Etablissements Ernest Boucquéau.

Ernest Boucquéau, at the edge of bankruptcy and faced with the refusal of his family to help him, asked Boël and his accountant to assist him in saving the company.

On 16 July 1880, Ernest Boucquéau died without leaving an heir and he bequeathed his fortune and his companies to Gustave Boël and his accountant.

On 1 September 1888, Gustave Boël was one of the first in Belgium who established a participation in the profits for the employees of his factory.

On 11 October 1880, Boël became a member of the communal council of La Louvière, and on 14 November of the same year, he became alderman.