ADRIAAN BOVYN: what changed
ADRIAAN BOVYN
Largest movements
- Current investments +€30,000
new in 2025: €30,000
- Cash -€14,633
down €14,633 (-15.5%), from €94,330 to €79,698
mainly Current investments (-€30,000) and Investment in fixed assets (net) (-€1,019)
- Receivables within one year -€2,240
down €2,240 (-15.0%), from €14,919 to €12,679
of which Trade receivables: -€6,542
- Reserves +€12,369
up €12,369 (+12.5%), from €98,896 to €111,265
- Gross operating margin +€4,043
up €4,043 (+25.4%), from €15,938 to €19,982
- Taxes +€984
up €984 (+22.6%), from €4,352 to €5,336
- Other operating charges +€547
up €547 (+130%), from €420 to €967
- Financial income +€363
up €363 (+71.9%), from €506 to €869
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €112,567 | €125,471 | +€12,904 | +11.5% |
| Fixed assets | 21/28 | €3,317 | €3,094 | -€223 | -6.7% |
| Tangible fixed assets | 22/27 | €3,317 | €3,094 | -€223 | -6.7% |
| Furniture and vehicles | 24 | €3,317 | €3,094 | -€223 | -6.7% |
| Current assets | 29/58 | €109,250 | €122,377 | +€13,127 | +12.0% |
| Amounts receivable within one year | 40/41 | €14,919 | €12,679 | -€2,240 | -15.0% |
| Trade receivables | 40 | €10,004 | €3,462 | -€6,542 | -65.4% |
| Other amounts receivable | 41 | €4,915 | €9,217 | +€4,302 | +87.5% |
| Current investments | 50/53 | - | €30,000 | +€30,000 | |
| Cash at bank and in hand | 54/58 | €94,330 | €79,698 | -€14,633 | -15.5% |
| Total equity and liabilities | 10/49 | €112,567 | €125,471 | +€12,904 | +11.5% |
| Equity | 10/15 | €111,296 | €123,665 | +€12,369 | +11.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €98,896 | €111,265 | +€12,369 | +12.5% |
| Distributable reserves | 133 | €98,896 | €111,265 | +€12,369 | +12.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €1,271 | €1,806 | +€536 | +42.2% |
| Amounts payable within one year | 42/48 | €1,271 | €1,806 | +€536 | +42.2% |
| Trade debts | 44 | €1,271 | €1,806 | +€536 | +42.2% |
| Suppliers | 440/4 | €1,271 | €1,806 | +€536 | +42.2% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,077 | €1,242 | +€165 | +15.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €420 | €967 | +€547 | +130% |
| Non-recurring operating charges | 66A | €11 | €0 | -€11 | -100% |
| Gross operating margin | 9900 | €15,938 | €19,982 | +€4,043 | +25.4% |
| Operating profit (loss) | 9901 | €14,430 | €17,773 | +€3,343 | +23.2% |
| Financial income | 75/76B | €506 | €869 | +€363 | +71.9% |
| Recurring financial income | 75 | €506 | €869 | +€363 | +71.9% |
| Financial charges | 65/66B | €1,027 | €937 | -€90 | -8.8% |
| Recurring financial charges | 65 | €1,027 | €937 | -€90 | -8.8% |
| Profit (loss) for the period before taxes | 9903 | €13,909 | €17,705 | +€3,796 | +27.3% |
| Income taxes | 67/77 | €4,352 | €5,336 | +€984 | +22.6% |
| Profit (loss) for the period | 9904 | €9,557 | €12,369 | +€2,812 | +29.4% |
| Profit (loss) for the period to be appropriated | 9905 | €9,557 | €12,369 | +€2,812 | +29.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.