B.O.A.: 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.
B.O.A.
Largest movements
- Cash +€6,075
up €6,075 (+441%), from €1,378 to €7,453
mainly Other debts (+€22,117) and Receivables within one year (+€5,461)
- Receivables within one year -€5,461
down €5,461 (-5.1%), from €107,461 to €102,000
of which Trade receivables: -€42,260
- Stocks and contracts -€4,735
down €4,735 (-7.7%), from €61,257 to €56,522
- Other debts +€22,117
new in 2025: €22,117
- Current portion of long-term debt -€12,228
down €12,228 (-100%), from €12,228 to €0
- Reserves -€10,471
down €10,471 (-7.8%), from €134,095 to €123,623
of which Distributable reserves: -€10,471
- Debts after one year -€6,173
down €6,173 (-100%), from €6,173 to €0
- Trade debts +€3,703
up €3,703 (+668%), from €555 to €4,258
- Gross operating margin -€7,899
down €7,899, from €478 to -€7,421
- Taxes -€919
down €919 (-100.0%), from €920 to €0
- Financial income -€691
down €691 (-97.1%), from €712 to €21
- Depreciation +€564
up €564 (+36.0%), from €1,568 to €2,133
- Financial charges -€240
down €240 (-37.1%), from €646 to €407
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 | €176,075 | €173,216 | -€2,858 | -1.6% |
| Fixed assets | 21/28 | €5,137 | €6,746 | +€1,609 | +31.3% |
| Tangible fixed assets | 22/27 | €5,137 | €6,746 | +€1,609 | +31.3% |
| Plant, machinery and equipment | 23 | €1,714 | €3,917 | +€2,203 | +129% |
| Furniture and vehicles | 24 | €3,423 | €2,829 | -€594 | -17.4% |
| Current assets | 29/58 | €170,938 | €166,471 | -€4,467 | -2.6% |
| Stocks and contracts in progress | 3 | €61,257 | €56,522 | -€4,735 | -7.7% |
| Stocks | 30/36 | €61,257 | €56,522 | -€4,735 | -7.7% |
| Amounts receivable within one year | 40/41 | €107,461 | €102,000 | -€5,461 | -5.1% |
| Trade receivables | 40 | €42,260 | €0 | -€42,260 | -100% |
| Other amounts receivable | 41 | €65,201 | €102,000 | +€36,799 | +56.4% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €1,378 | €7,453 | +€6,075 | +441% |
| Deferred charges and accrued income | 490/1 | €841 | €495 | -€346 | -41.1% |
| Total equity and liabilities | 10/49 | €176,075 | €173,216 | -€2,858 | -1.6% |
| Equity | 10/15 | €152,687 | €142,215 | -€10,471 | -6.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €134,095 | €123,623 | -€10,471 | -7.8% |
| Tax-exempt reserves | 132 | €50,000 | €50,000 | = | 0.0% |
| Distributable reserves | 133 | €84,095 | €73,623 | -€10,471 | -12.5% |
| Amounts payable | 17/49 | €23,388 | €31,001 | +€7,613 | +32.6% |
| Amounts payable after more than one year | 17 | €6,173 | €0 | -€6,173 | -100% |
| Financial debts | 170/4 | €6,173 | €0 | -€6,173 | -100% |
| Amounts payable within one year | 42/48 | €17,194 | €31,001 | +€13,807 | +80.3% |
| Current portion of amounts payable after more than one year | 42 | €12,228 | €0 | -€12,228 | -100% |
| Financial debts | 43 | - | €787 | +€787 | |
| Credit institutions | 430/8 | - | €787 | +€787 | |
| Trade debts | 44 | €555 | €4,258 | +€3,703 | +668% |
| Suppliers | 440/4 | €555 | €4,258 | +€3,703 | +668% |
| Taxes, remuneration and social security | 45 | €4,411 | €3,839 | -€572 | -13.0% |
| Taxes | 450/3 | €4,411 | €3,839 | -€572 | -13.0% |
| Other amounts payable | 47/48 | - | €22,117 | +€22,117 | |
| Accrued charges and deferred income | 492/3 | €21 | €0 | -€21 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,568 | €2,133 | +€564 | +36.0% |
| Other operating charges | 640/8 | €567 | €532 | -€36 | -6.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €478 | -€7,421 | -€7,899 | |
| Operating profit (loss) | 9901 | -€1,657 | -€10,085 | -€8,428 | -508% |
| Financial income | 75/76B | €712 | €21 | -€691 | -97.1% |
| Recurring financial income | 75 | €712 | €21 | -€691 | -97.1% |
| Financial charges | 65/66B | €646 | €407 | -€240 | -37.1% |
| Recurring financial charges | 65 | €646 | €407 | -€240 | -37.1% |
| Profit (loss) for the period before taxes | 9903 | -€1,592 | -€10,471 | -€8,880 | -558% |
| Income taxes | 67/77 | €920 | €0 | -€919 | -100.0% |
| Profit (loss) for the period | 9904 | -€2,511 | -€10,471 | -€7,960 | -317% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,511 | -€10,471 | -€7,960 | -317% |
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 14 October 2026 via checked.be.