BO&CO: 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.
BO&CO
Largest movements
- Cash +€131,932
up €131,932 (+46.3%), from €284,975 to €416,907
mainly Advances received (+€125,829) and Net result for the year (+€89,632)
- Receivables within one year -€35,556
down €35,556 (-14.9%), from €238,675 to €203,119
of which Trade receivables: -€19,444
- Current investments +€22,500
new in 2025: €22,500
- Tangible fixed assets +€9,403
up €9,403 (+6.3%), from €149,777 to €159,180
of which Plant, machinery and equipment: +€6,967
- Advances received +€125,829
new in 2025: €125,829
- Short-term financial debts -€75,000
down €75,000 (-100%), from €75,000 to €0
- Trade debts +€40,041
up €40,041 (+12.8%), from €312,092 to €352,133
- Tax, wage and social debts +€33,481
up €33,481 (+50.0%), from €66,923 to €100,403
of which Taxes: +€38,672
- Debts after one year -€24,141
down €24,141 (-27.5%), from €87,722 to €63,581
- Staff costs -€28,585
down €28,585 (-11.3%), from €251,987 to €223,402
- Taxes +€11,660
up €11,660 (+38.1%), from €30,637 to €42,297
- Gross operating margin +€9,546
up €9,546 (+2.5%), from €387,059 to €396,605
- Other operating charges -€6,732
down €6,732 (-68.8%), from €9,778 to €3,047
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 | €812,312 | €938,357 | +€126,045 | +15.5% |
| Fixed assets | 21/28 | €218,114 | €222,260 | +€4,146 | +1.9% |
| Intangible fixed assets | 21 | €68,337 | €63,080 | -€5,257 | -7.7% |
| Tangible fixed assets | 22/27 | €149,777 | €159,180 | +€9,403 | +6.3% |
| Land and buildings | 22 | €112,427 | €101,808 | -€10,619 | -9.4% |
| Plant, machinery and equipment | 23 | €6,959 | €13,926 | +€6,967 | +100% |
| Furniture and vehicles | 24 | €16,549 | €22,929 | +€6,380 | +38.6% |
| Other tangible fixed assets | 26 | €13,842 | €20,517 | +€6,675 | +48.2% |
| Current assets | 29/58 | €594,198 | €716,097 | +€121,899 | +20.5% |
| Stocks and contracts in progress | 3 | €23,628 | €23,628 | = | 0.0% |
| Stocks | 30/36 | €23,628 | €23,628 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €238,675 | €203,119 | -€35,556 | -14.9% |
| Trade receivables | 40 | €168,166 | €148,722 | -€19,444 | -11.6% |
| Other amounts receivable | 41 | €70,509 | €54,396 | -€16,112 | -22.9% |
| Current investments | 50/53 | - | €22,500 | +€22,500 | |
| Cash at bank and in hand | 54/58 | €284,975 | €416,907 | +€131,932 | +46.3% |
| Deferred charges and accrued income | 490/1 | €46,919 | €49,943 | +€3,024 | +6.4% |
| Total equity and liabilities | 10/49 | €812,312 | €938,357 | +€126,045 | +15.5% |
| Equity | 10/15 | €237,050 | €258,867 | +€21,817 | +9.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €142,740 | €164,557 | +€21,817 | +15.3% |
| Distributable reserves | 133 | €142,740 | €164,557 | +€21,817 | +15.3% |
| Profit (loss) carried forward | 14 | €88,110 | €88,110 | = | 0.0% |
| Amounts payable | 17/49 | €575,262 | €679,490 | +€104,229 | +18.1% |
| Amounts payable after more than one year | 17 | €87,722 | €63,581 | -€24,141 | -27.5% |
| Financial debts | 170/4 | €87,722 | €63,581 | -€24,141 | -27.5% |
| Amounts payable within one year | 42/48 | €487,540 | €615,909 | +€128,369 | +26.3% |
| Current portion of amounts payable after more than one year | 42 | €33,525 | €37,544 | +€4,018 | +12.0% |
| Financial debts | 43 | €75,000 | €0 | -€75,000 | -100% |
| Other loans | 439 | €75,000 | €0 | -€75,000 | -100% |
| Trade debts | 44 | €312,092 | €352,133 | +€40,041 | +12.8% |
| Suppliers | 440/4 | €312,092 | €352,133 | +€40,041 | +12.8% |
| Advances received on contracts in progress | 46 | - | €125,829 | +€125,829 | |
| Taxes, remuneration and social security | 45 | €66,923 | €100,403 | +€33,481 | +50.0% |
| Taxes | 450/3 | €48,047 | €86,719 | +€38,672 | +80.5% |
| Remuneration and social security | 454/9 | €18,875 | €13,684 | -€5,191 | -27.5% |
| Remuneration, social security and pensions | 62 | €251,987 | €223,402 | -€28,585 | -11.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,364 | €25,640 | +€2,276 | +9.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €9,778 | €3,047 | -€6,732 | -68.8% |
| Gross operating margin | 9900 | €387,059 | €396,605 | +€9,546 | +2.5% |
| Operating profit (loss) | 9901 | €101,929 | €144,517 | +€42,587 | +41.8% |
| Financial income | 75/76B | €6,983 | €9,734 | +€2,751 | +39.4% |
| Recurring financial income | 75 | €6,983 | €9,734 | +€2,751 | +39.4% |
| Financial charges | 65/66B | €19,245 | €22,322 | +€3,076 | +16.0% |
| Recurring financial charges | 65 | €19,245 | €22,322 | +€3,076 | +16.0% |
| Profit (loss) for the period before taxes | 9903 | €89,667 | €131,929 | +€42,262 | +47.1% |
| Income taxes | 67/77 | €30,637 | €42,297 | +€11,660 | +38.1% |
| Profit (loss) for the period | 9904 | €59,030 | €89,632 | +€30,603 | +51.8% |
| Profit (loss) for the period to be appropriated | 9905 | €59,030 | €89,632 | +€30,603 | +51.8% |
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.