BODEFA

Active Public limited companyfounded 1981active for 44 yearsTervuursesteenweg 171, 3060 BertemKBO/BCE: BE 0422.153.896

BODEFA

Financial year 2025

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Annual accounts 2025

micro format, filed on 07-05-2026, 85 days before the deadline

€27,854

▼ 4.8%

€510

▼ 67.9%

€4,589

▲ €31,744

€505,784

▲ 5.8%

97.9%

▲ 2.5 percentage points

16.85

▲ 9.07

Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.

Turnover ≈ €110,000. Estimated: probably between €66,000 and €200,000.

Balance sheet

balance sheet total €1.5m on 31-12-2025

What the company ownsHow it is paid for

in €m

in euro

Staff

Staff costs divided by the average number of full-time equivalents.

people who joined people who left

Filed annual accounts

as filed with the National Bank, click a year to choose it

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
Balance sheet: assets
`20/58`	1.5m	1.5m	1.8m	2.5m	2.4m	3.0m	3.2m	3.7m	4.2m	4.2m	4.3m	3.6m	3.6m	3.8m	3.9m	3.3m	3.1m	3.1m	3.7m	3.5m
`20`	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
`21/28`	952,075	975,320	980,978	1.5m	1.7m	1.8m	1.9m	2.1m	2.1m	2.2m	2.2m	1.8m	1.8m	1.9m	1.8m	1.8m	1.8m	1.9m	2.0m	2.1m
`21`	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
`22/27`	952,075	975,320	980,978	1.5m	1.7m	1.8m	1.9m	2.1m	2.1m	2.2m	2.2m	1.8m	1.8m	1.9m	1.7m	1.8m	1.8m	1.9m	2.0m	2.1m
`22`	925,848	945,498	965,149	1.4m	1.6m	1.7m	1.9m	2.1m	2.1m	2.2m	2.2m	1.8m	1.8m	1.8m	802,389	682,334	709,783	737,232	764,681	792,129
`23`	-	-	0	2,433	3,373	4,313	-	0	-	-	594	1,188	1,782	3,111	4,042	24,514	41,176	59,590	78,720	98,967
`24`	-	-	-	-	-	-	-	0	945	2,178	3,411	5,413	2,881	3,092	473	788	-	-	665	3,460
`26`	26,228	29,822	15,829	62,842	56,687	61,822	22,421	12,090	15,472	18,853	19,379	24,799	27,435	32,576	934,176	1.1m	1.1m	1.1m	1.2m	1.2m
`27`	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
`28`	-	-	-	-	-	-	-	0	-	-	-	-	-	10,000	10,000	10,000	-	-	-	-
`29/58`	537,690	548,446	789,315	1.0m	776,322	1.2m	1.3m	1.7m	2.1m	2.0m	2.1m	1.8m	1.8m	1.9m	2.2m	1.5m	1.3m	1.2m	1.7m	1.4m
`29`	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
`290`	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
`291`	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
`3`	-	-	-	-	-	0	64,932	51,120	64,953	87,142	82,153	105,235	104,389	99,246	103,989	102,931	97,671	92,556	76,066	63,602
`30/36`	-	-	-	-	-	0	64,932	51,120	64,953	87,142	82,153	105,235	104,389	99,246	103,989	102,931	97,671	92,556	76,066	63,602
`37`	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
`40/41`	1,407	2,645	4,666	428	162,822	10,068	25,696	86,136	24,096	25,260	26,168	41,974	33,481	25,689	37,169	31,779	50,919	31,299	23,540	28,811
`40`	-	-	-	-	-	0	15,209	15,483	14,883	20,643	20,777	21,393	21,029	18,357	23,450	25,695	46,772	29,456	20,087	22,291
`41`	1,407	2,645	4,666	428	162,822	10,068	10,487	70,653	9,213	4,618	5,391	20,581	12,453	7,333	13,719	6,084	4,147	1,843	3,453	6,520
`50/53`	460,464	520,464	729,600	474,130	612,310	1.0m	1.0m	1.1m	1.6m	1.8m	1.9m	1.5m	1.5m	1.4m	1.4m	983,000	705,362	585,537	1.4m	932,791
`54/58`	75,818	25,337	55,048	564,046	1,190	179,694	134,967	429,016	378,654	97,339	89,150	158,354	91,558	347,896	619,754	367,336	412,253	529,015	197,612	383,199
`490/1`	-	-	-	-	0	87	325	1,628	2,267	3,103	2,274	2,883	6,763	2,379	2,257	1,480	107	1,608	165	1,343
Balance sheet: equity and liabilities
`10/49`	1.5m	1.5m	1.8m	2.5m	2.4m	3.0m	3.2m	3.7m	4.2m	4.2m	4.3m	3.6m	3.6m	3.8m	3.9m	3.3m	3.1m	3.1m	3.7m	3.5m
`10/15`	1.5m	1.5m	1.5m	2.0m	1.7m	1.5m	1.3m	1.2m	1.9m	1.8m	1.8m	1.7m	1.7m	1.7m	1.8m	1.5m	1.5m	1.5m	3.1m	2.9m
`10/11`	62,500	62,500	62,500	62,500	62,500	62,500	62,500	62,500	782,500	782,500	782,500	782,500	782,500	62,500	62,500	62,500	62,500	62,500	1.8m	1.8m
`10`	62,500	62,500	62,500	62,500	62,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
`100`	62,500	62,500	62,500	62,500	62,500	62,500	62,500	62,500	782,500	782,500	782,500	782,500	782,500	62,500	62,500	62,500	62,500	62,500	1.8m	1.8m
`101`	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
`11`	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
`1100/10`	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
`12`	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
`13`	1.4m	1.4m	1.4m	1.9m	1.6m	1.4m	1.2m	1.2m	1.1m	988,184	1.0m	923,004	888,796	1.7m	1.7m	1.4m	1.4m	1.5m	1.3m	1.1m
`130/1`	116,095	116,095	116,095	176,400	176,400	176,400	-	0	-	-	-	-	-	-	-	-	-	-	-	-
`130`	116,095	116,095	116,095	176,400	176,400	176,400	176,400	176,400	176,400	176,400	176,400	176,400	176,400	176,400	176,400	176,400	176,400	176,400	176,400	176,400
`1312`	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
`1319`	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
`132`	-	-	-	0	490,272	524,833	554,043	508,796	497,712	557,538	581,465	605,391	623,602	602,362	698,017	346,591	360,631	374,672	388,712	447,553
`133`	1.3m	1.3m	1.3m	1.7m	973,210	693,521	515,184	495,783	469,520	254,247	265,942	141,212	88,795	877,059	871,457	869,604	869,477	927,859	783,164	511,966
`14`	-22,565	-27,155	-	-	0	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
`15`	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
`19`	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
`16`	-	-	-	0	163,424	173,299	183,036	264,371	265,341	297,555	310,439	323,322	333,128	321,691	373,198	183,968	191,528	199,089	206,649	238,332
`160/5`	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
`160`	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
`161`	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
`162`	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
`163`	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
`164/5`	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
`168`	-	-	-	0	163,424	173,299	183,036	264,371	265,341	297,555	310,439	323,322	333,128	321,691	373,198	183,968	191,528	199,089	206,649	238,332
`17/49`	31,991	70,581	289,953	518,686	584,067	1.4m	1.7m	2.2m	2.0m	2.1m	2.2m	1.6m	1.6m	1.7m	1.7m	1.6m	1.4m	1.4m	403,230	383,276
`17`	-	-	0	69,217	138,066	207,225	274,665	341,293	407,139	472,203	536,493	-	-	-	-	-	-	-	-	-
`170/4`	-	-	0	69,217	138,066	207,225	274,665	341,293	407,139	472,203	536,493	-	-	-	-	-	-	-	-	-
`175`	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
`176`	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
`178/9`	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
`42/48`	31,906	70,496	289,783	449,384	445,772	1.2m	1.4m	1.9m	1.6m	1.6m	1.7m	1.6m	1.6m	1.7m	1.7m	1.6m	1.4m	1.4m	403,140	382,615
`42`	-	0	69,217	68,849	68,482	67,440	66,628	65,846	65,064	64,290	63,507	-	-	-	-	-	-	-	-	-
`43`	-	-	-	-	-	-	-	0	-	-	-	-	-	537	-	-	15	-	15	15
`430/8`	-	-	-	-	-	-	-	0	-	-	-	-	-	537	-	-	15	-	15	15
`439`	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
`44`	4,219	1,688	3,331	9,576	2,627	14,893	32,696	19,631	11,179	22,748	32,928	19,772	24,472	19,238	23,630	26,938	25,234	27,970	20,136	22,160
`440/4`	4,219	1,688	3,331	9,576	2,627	14,893	32,696	19,631	11,179	22,748	32,928	19,772	24,472	19,238	23,630	26,938	25,234	27,970	20,136	22,160
`441`	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
`46`	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
`45`	133	415	171,032	307,084	263,525	170,296	52,243	98,333	25,235	14,664	37,597	22,446	14,701	65,728	65,787	14,923	35,149	43,942	43,446	20,881
`450/3`	133	415	171,032	307,084	263,525	170,296	44,098	93,908	23,213	2,487	22,262	9,447	456	53,673	53,688	977	22,985	28,664	24,274	6,737
`454/9`	-	-	-	-	-	0	8,145	4,425	2,022	12,177	15,335	12,999	14,245	12,055	12,099	13,946	12,163	15,278	19,172	14,144
`47/48`	27,554	68,393	46,203	63,875	111,139	907,120	1.2m	1.7m	1.5m	1.5m	1.6m	1.6m	1.6m	1.6m	1.6m	1.6m	1.4m	1.3m	339,542	339,559
`492/3`	85	85	170	85	229	1,035	8,704	7,409	6,940	10,348	10,274	9,060	7,898	2	261	124	81	824	90	661
Income statement
`76A`	-	-	0	502,867	311,272	373,371	131,723	305,131	-	-	-	-	60,692	-	771,441	162,571	-	101,899	55,219	-
`9900`	27,854	29,271	19,619	560,962	368,187	459,268	313,280	435,724	151,977	211,566	192,645	188,377	179,012	159,281	171,090	183,467	115,099	183,370	178,675	198,333
`62`	-	-	-	-	0	3,577	54,144	31,218	58,191	75,352	91,221	62,601	57,281	58,415	58,580	57,263	58,994	62,287	58,028	66,814
`630`	23,245	22,364	21,574	56,011	58,234	56,428	51,955	51,377	65,535	53,149	153,852	43,215	42,962	50,607	58,811	51,047	49,036	49,298	50,949	51,229
`631/4`	-	-	-	-	-	0	1,594	2,599	-	-	-	-	-	-	-	-	-	-	-	-
`635/8`	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
`640/8`	4,099	5,317	5,106	13,466	13,609	13,189	14,433	15,727	19,868	12,123	12,381	12,432	11,689	14,019	11,589	14,619	9,807	6,744	7,267	6,201
`649`	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
`66A`	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
`9901`	510	1,590	-7,061	491,485	296,345	386,074	191,155	334,804	8,383	70,942	-64,809	70,128	67,081	36,240	42,109	60,538	-2,738	65,040	62,430	74,089
`75/76B`	8,579	12,247	13,837	3,743	93,752	18,078	35,248	82,038	282,190	35,454	320,848	105,627	55,764	48,531	56,197	25,018	15,910	69,130	173,345	100,133
`75`	8,579	12,247	13,837	3,743	93,752	18,078	35,248	82,038	282,190	35,454	320,848	105,627	55,764	48,531	56,197	25,018	15,910	69,130	173,345	100,133
`76B`	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
`65/66B`	2,950	38,579	3,257	12,897	15,092	51,076	98,223	136,593	113,211	121,866	107,785	112,935	108,828	184,430	117,114	95,457	93,155	76,709	64,677	64,808
`65`	2,950	38,579	3,257	12,897	15,092	51,076	98,223	136,593	113,211	121,866	107,785	112,935	108,828	184,430	117,114	95,457	93,155	76,709	64,677	64,808
`66B`	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
`9903`	6,139	-24,742	3,519	482,331	375,005	353,077	128,180	280,249	177,363	-15,470	148,255	62,821	74,708	-99,660	752,633	152,669	-79,983	159,360	226,317	109,415
`780`	-	-	0	163,424	9,875	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
`67/77`	1,550	2,413	1,120	371,155	139,753	131,186	62,368	74,418	23,962	2,868	30,168	8,250	128	-	55,093	-161	-	36,266	45,643	-
`9904`	4,589	-27,155	2,400	274,599	245,128	231,627	147,147	206,801	185,615	-5,454	130,971	64,376	63,143	-48,153	508,310	160,390	-72,422	130,655	212,358	117,826
`789`	-	-	0	490,272	34,561	29,210	27,066	22,743	59,826	23,927	23,927	18,210	18,210	95,655	16,111	14,041	14,041	14,041	58,840	15,622
`689`	-	-	-	-	-	0	72,313	33,828	-	-	-	-	39,450	-	367,538	-	-	-	-	-
`9905`	4,589	-27,155	2,400	764,871	279,689	260,837	101,901	195,716	245,441	18,473	154,898	82,586	41,904	47,502	156,883	174,431	-58,382	144,695	271,198	133,448
Appropriation of the result
`9906`	-22,565	-27,155	2,400	764,871	279,689	260,837	101,901	195,716	245,441	18,473	154,898	82,586	41,904	47,502	156,883	174,431	-58,382	144,695	271,198	133,448
`14P`	-27,155	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
`791/2`	-	-	-	-	0	82,500	82,500	0	-	28,552	30,160	30,082	800,000	-	-	-	58,382	-	-	-
`691/2`	-	0	2,400	764,871	279,689	260,837	101,901	26,263	215,273	16,857	154,890	82,500	11,736	5,602	1,853	127	-	144,695	271,198	133,448
`691`	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
`6920`	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
`6921`	-	0	2,400	764,871	279,689	260,837	101,901	26,263	215,273	16,857	154,890	82,500	11,736	5,602	1,853	127	-	144,695	271,198	133,448
`694/7`	-	-	-	-	0	82,500	82,500	169,453	30,168	30,168	30,168	30,168	830,168	41,900	155,030	174,304	-	-	-	-
`694`	-	-	-	-	0	82,500	82,500	119,453	30,168	30,168	30,168	30,168	830,168	41,900	155,030	174,304	-	-	-	-
`695`	-	-	-	-	-	-	0	50,000	-	-	-	-	-	-	-	-	-	-	-	-
`696`	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Social balance sheet
`9087`	-	-	-	-	-	0.1	0.9	0.5	1.4	1.4	1.4	1.4	1	1	1	1	1	1	1	1
Hours worked`1013`	-	-	-	-	-	102	1,589	959	1,792	1,792	2,553	1,836	1,747	1,752	1,748	1,774	1,743	1,761	1,782	1,790
Document	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF

The accounts for 24 older financial years (1982-2005) were filed as documents without figures as data, scans for example.

The notes to these accounts have 4 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Source: Annual accounts 2025 (PDF), filed on 07-05-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank

Financial year	Type	Filed	Reference	Document
31-12-2025	micro format	07-05-2026	2026-00106155	PDF
31-12-2024	micro format	17-06-2025	2025-00148486	PDF
31-12-2023	micro format	09-08-2024	2024-00341987	PDF
31-12-2022	micro format	25-07-2023	2023-00270368	PDF
31-12-2021	micro format	21-06-2022	2022-20083823	PDF
31-12-2020	micro format	26-07-2021	2021-40000046	PDF
31-12-2019	abbreviated format	03-08-2020	2020-38300188	PDF
31-12-2018	micro format	06-06-2019	2019-16700086	PDF
31-12-2017	micro format	13-07-2018	2018-33500186	PDF
31-12-2016	micro format	22-06-2017	2017-21400163	PDF
31-12-2015	abbreviated format	01-07-2016	2016-26600186	PDF
31-12-2014	abbreviated format	01-07-2015	2015-24900181	PDF
31-12-2013	abbreviated format	02-06-2014	2014-14400215	PDF
31-12-2012	abbreviated format	17-06-2013	2013-18000337	PDF
31-12-2011	abbreviated format	03-07-2012	2012-24800263	PDF
31-12-2010	abbreviated format	01-07-2011	2011-24000468	PDF
31-12-2009	abbreviated format	22-07-2010	2010-33000555	PDF
31-12-2008	abbreviated format	30-06-2009	2009-34300016	PDF
31-12-2007	abbreviated format	10-07-2008	2008-39700331	PDF
31-12-2006	abbreviated format	23-07-2007	2007-44800298	PDF
31-12-2005	abbreviated format	13-07-2006	2006-47500182	PDF
31-12-2004	abbreviated format	28-06-2005	2005-37601421	PDF
31-12-2003	abbreviated format	21-06-2004	2004-29403413	PDF
31-12-2002	abbreviated format	24-06-2003	2003-31103947	PDF
31-12-2001	abbreviated format	19-08-2002	2002-48804083	PDF
31-12-2000	abbreviated format	12-07-2001	2001-37301096	PDF
31-12-1999	abbreviated format	10-07-2000	2000-39603316	PDF
31-12-1998	abbreviated format	22-06-1999	1999-21401533	PDF
31-12-1997	abbreviated format	18-06-1998	1998-18903057	PDF
31-12-1996	abbreviated format	17-06-1997	1997-16301530	PDF
31-12-1995	abbreviated format	03-06-1996	1996-11802594	PDF
31-12-1994	abbreviated format	02-06-1995	1995-11305289	PDF
31-12-1993	abbreviated format	15-06-1994	1994-15204822	PDF
31-12-1992	abbreviated format	21-06-1993	1993-15100125	PDF
31-12-1991	abbreviated format	22-06-1992	1992-13500635	PDF
31-12-1990	abbreviated format	04-06-1991	1991-07504186	PDF
31-12-1989	abbreviated format	11-06-1990	1990-07901961	PDF
31-12-1988	abbreviated format	19-06-1989	1989-09303537	PDF
31-12-1987	abbreviated format	20-06-1988	1988-09101755	PDF
31-12-1986	abbreviated format	15-06-1987	1987-09903902	PDF
31-12-1985	abbreviated format	27-06-1986	1986-20500387	PDF
31-12-1984	full format	24-06-1985	1985-14101741	PDF
31-12-1983	unclassified schema	29-06-1984	1984-08201057	PDF
31-12-1982	unclassified schema	04-07-1983	1983-08201722	PDF

Key figures and ratios

per financial year, computed from the annual accounts

2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
23,755	23,954	14,513	547,496	354,579	442,502	243,110	386,181	73,918	124,091	89,043	113,343	110,042	86,847	100,920	111,585	46,298	114,339	113,379	125,318
27,834	-4,791	23,974	330,610	303,362	288,055	199,102	258,178	251,150	47,694	284,823	107,591	106,105	2,454	567,121	211,437	-23,386	179,953	263,307	169,055
0	16,706	-454,511	14,126	5,108	53,092	15,236	-28,628	13,804	3,680	610,620	7,677	1,440	192,412	163,378	15,905	2,192	8,374	-39,821	-
50,481	-29,711	-508,998	562,856	-178,505	44,727	-294,048	50,361	281,315	8,190	-69,204	66,797	-256,339	-271,858	252,418	-44,917	-116,763	331,404	-185,588	-
505,784	477,950	499,532	589,220	330,549	76,348	-121,289	-210,266	458,730	352,238	415,491	246,634	185,531	147,129	430,753	-130,885	-172,226	-138,345	1.3m	1.0m
97.9%	95.4%	83.6%	79.2%	69.5%	48.6%	41.3%	33.3%	45.5%	42.3%	41.5%	46.9%	46.3%	45.6%	46.3%	44.7%	47.4%	49.4%	83.6%	82.3%
16.85	7.78	2.72	2.31	1.74	1.07	0.91	0.89	1.28	1.22	1.25	1.15	1.12	1.09	1.25	0.92	0.88	0.90	4.22	3.68
16.85	7.78	2.72	2.31	1.74	1.07	0.87	0.86	1.24	1.16	1.20	1.09	1.05	1.03	1.19	0.86	0.81	0.83	4.03	3.52
0.02	0.05	0.20	0.26	0.34	0.94	1.28	1.79	1.06	1.20	1.24	0.94	0.96	1.00	0.95	1.11	0.98	0.89	0.13	0.13
0.3%	-1.9%	0.2%	13.9%	14.4%	15.9%	11.2%	16.6%	9.6%	-0.3%	7.3%	3.8%	3.8%	-2.8%	28.1%	11.0%	-4.9%	8.5%	6.8%	4.1%
0.3%	-1.8%	0.1%	11.0%	10.0%	7.7%	4.6%	5.5%	4.4%	-0.1%	3.0%	1.8%	1.8%	-1.3%	13.0%	4.9%	-2.3%	4.2%	5.7%	3.3%
8.05	0.62	4.46	42.45	23.50	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Investments

fixed assets acquired

Item	2025	2024	2023	2022	2021
Tangible fixed assets	-	€16,706	-	€14,126	€5,108
	€23,245	€22,364	€21,574	€56,011	€58,234

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on BODEFA

The operating result for 2025 is 68% lower than in 2024.

Debt's share of the balance-sheet total falls from 4.6% to 2.1%. Equity is higher and debt is lower.

Large changes and their cause

2023 Net result -99% on 2022. The 2022 profit included a one-off income of €502,867.

Next steps

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