B.O.G.: 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.G.
Largest movements
- Receivables within one year +€54,575
up €54,575 (+20.7%), from €264,021 to €318,596
- Tangible fixed assets -€7,413
down €7,413 (-6.8%), from €109,556 to €102,143
of which Land and buildings: -€4,760
- Other debts +€63,915
up €63,915 (+401%), from €15,941 to €79,856
- Tax, wage and social debts -€15,758
down €15,758 (-47.2%), from €33,389 to €17,630
- Reserves +€15,000
up €15,000 (+4.9%), from €306,150 to €321,150
of which Distributable reserves: +€15,000
- Profit (loss) carried forward -€9,957
down €9,957 (-79.4%), from €12,534 to €2,577
- Taxes -€13,959
down €13,959 (-88.4%), from €15,795 to €1,836
- Financial income +€2,153
up €2,153 (+35.4%), from €6,075 to €8,228
- Gross operating margin +€1,744
up €1,744 (+2.1%), from €83,867 to €85,611
- Depreciation +€1,183
up €1,183 (+19.0%), from €6,230 to €7,413
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 | €430,279 | €483,101 | +€52,822 | +12.3% |
| Fixed assets | 21/28 | €109,556 | €102,143 | -€7,413 | -6.8% |
| Tangible fixed assets | 22/27 | €109,556 | €102,143 | -€7,413 | -6.8% |
| Land and buildings | 22 | €86,831 | €82,070 | -€4,760 | -5.5% |
| Plant, machinery and equipment | 23 | €22,725 | €20,072 | -€2,653 | -11.7% |
| Current assets | 29/58 | €320,724 | €380,958 | +€60,235 | +18.8% |
| Amounts receivable within one year | 40/41 | €264,021 | €318,596 | +€54,575 | +20.7% |
| Other amounts receivable | 41 | €264,021 | €318,596 | +€54,575 | +20.7% |
| Current investments | 50/53 | €27,815 | €27,815 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €15,313 | €18,820 | +€3,507 | +22.9% |
| Deferred charges and accrued income | 490/1 | €13,575 | €15,728 | +€2,153 | +15.9% |
| Total equity and liabilities | 10/49 | €430,279 | €483,101 | +€52,822 | +12.3% |
| Equity | 10/15 | €380,184 | €385,227 | +€5,043 | +1.3% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €306,150 | €321,150 | +€15,000 | +4.9% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €300,000 | €315,000 | +€15,000 | +5.0% |
| Profit (loss) carried forward | 14 | €12,534 | €2,577 | -€9,957 | -79.4% |
| Amounts payable | 17/49 | €50,095 | €97,874 | +€47,779 | +95.4% |
| Amounts payable within one year | 42/48 | €50,095 | €97,874 | +€47,779 | +95.4% |
| Trade debts | 44 | €766 | €388 | -€378 | -49.4% |
| Suppliers | 440/4 | €766 | €388 | -€378 | -49.4% |
| Taxes, remuneration and social security | 45 | €33,389 | €17,630 | -€15,758 | -47.2% |
| Taxes | 450/3 | €33,389 | €17,630 | -€15,758 | -47.2% |
| Other amounts payable | 47/48 | €15,941 | €79,856 | +€63,915 | +401% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,230 | €7,413 | +€1,183 | +19.0% |
| Other operating charges | 640/8 | €24,348 | €25,112 | +€764 | +3.1% |
| Gross operating margin | 9900 | €83,867 | €85,611 | +€1,744 | +2.1% |
| Operating profit (loss) | 9901 | €53,289 | €53,086 | -€202 | -0.4% |
| Financial income | 75/76B | €6,075 | €8,228 | +€2,153 | +35.4% |
| Recurring financial income | 75 | €6,075 | €8,228 | +€2,153 | +35.4% |
| Financial charges | 65/66B | €133 | €435 | +€303 | +228% |
| Recurring financial charges | 65 | €133 | €435 | +€303 | +228% |
| Profit (loss) for the period before taxes | 9903 | €59,231 | €60,878 | +€1,647 | +2.8% |
| Income taxes | 67/77 | €15,795 | €1,836 | -€13,959 | -88.4% |
| Profit (loss) for the period | 9904 | €43,436 | €59,043 | +€15,607 | +35.9% |
| Profit (loss) for the period to be appropriated | 9905 | €43,436 | €59,043 | +€15,607 | +35.9% |
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 19 October 2026 via checked.be.