Bo-ga: 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-ga
Largest movements
- Receivables within one year -€128,900
down €128,900 (-89.0%), from €144,811 to €15,911
of which Trade receivables: -€127,461
- Intangible fixed assets +€24,986
new in 2025: €24,986
- Stocks and contracts +€23,039
up €23,039 (+47.1%), from €48,940 to €71,979
- Tangible fixed assets -€19,585
down €19,585 (-3.7%), from €523,333 to €503,747
of which Furniture and vehicles: -€12,606
- Trade debts -€88,597
down €88,597 (-78.8%), from €112,501 to €23,904
of which Suppliers: -€88,010
- Short-term financial debts +€26,609
new in 2025: €26,609
- Debts after one year -€23,674
down €23,674 (-5.6%), from €425,923 to €402,249
- Other debts -€15,047
down €15,047 (-12.0%), from €124,915 to €109,868
- Tax, wage and social debts +€11,051
up €11,051 (+1514.5%), from €730 to €11,780
- Depreciation +€6,803
up €6,803 (+20.9%), from €32,578 to €39,381
- Gross operating margin -€2,169
down €2,169 (-3.6%), from €59,524 to €57,356
- Financial charges +€1,666
up €1,666 (+18.4%), from €9,076 to €10,743
of which Non-recurring financial charges: +€1,968
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.
Cash bridge derived
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 | €723,951 | €627,674 | -€96,277 | -13.3% |
| Fixed assets | 21/28 | €523,333 | €528,734 | +€5,401 | +1.0% |
| Intangible fixed assets | 21 | - | €24,986 | +€24,986 | |
| Tangible fixed assets | 22/27 | €523,333 | €503,747 | -€19,585 | -3.7% |
| Land and buildings | 22 | €474,073 | €468,539 | -€5,534 | -1.2% |
| Plant, machinery and equipment | 23 | €2,118 | €673 | -€1,445 | -68.2% |
| Furniture and vehicles | 24 | €47,141 | €34,535 | -€12,606 | -26.7% |
| Current assets | 29/58 | €200,618 | €98,941 | -€101,678 | -50.7% |
| Stocks and contracts in progress | 3 | €48,940 | €71,979 | +€23,039 | +47.1% |
| Stocks | 30/36 | €48,940 | €71,979 | +€23,039 | +47.1% |
| Amounts receivable within one year | 40/41 | €144,811 | €15,911 | -€128,900 | -89.0% |
| Trade receivables | 40 | €140,492 | €13,031 | -€127,461 | -90.7% |
| Other amounts receivable | 41 | €4,319 | €2,880 | -€1,439 | -33.3% |
| Cash at bank and in hand | 54/58 | €4,587 | €9,196 | +€4,610 | +100.5% |
| Deferred charges and accrued income | 490/1 | €2,281 | €1,855 | -€427 | -18.7% |
| Total equity and liabilities | 10/49 | €723,951 | €627,674 | -€96,277 | -13.3% |
| Equity | 10/15 | €16,261 | €17,426 | +€1,166 | +7.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,261 | €14,426 | +€1,166 | +8.8% |
| Amounts payable | 17/49 | €707,691 | €610,248 | -€97,443 | -13.8% |
| Amounts payable after more than one year | 17 | €425,923 | €402,249 | -€23,674 | -5.6% |
| Financial debts | 170/4 | €425,923 | €402,249 | -€23,674 | -5.6% |
| Amounts payable within one year | 42/48 | €277,635 | €205,131 | -€72,504 | -26.1% |
| Current portion of amounts payable after more than one year | 42 | €32,731 | €32,969 | +€238 | +0.7% |
| Financial debts | 43 | - | €26,609 | +€26,609 | |
| Credit institutions | 430/8 | - | €26,609 | +€26,609 | |
| Trade debts | 44 | €112,501 | €23,904 | -€88,597 | -78.8% |
| Suppliers | 440/4 | €111,914 | €23,904 | -€88,010 | -78.6% |
| Bills of exchange payable | 441 | €588 | - | -€588 | |
| Advances received on contracts in progress | 46 | €6,759 | - | -€6,759 | |
| Taxes, remuneration and social security | 45 | €730 | €11,780 | +€11,051 | +1514.5% |
| Taxes | 450/3 | €730 | €11,780 | +€11,051 | +1514.5% |
| Other amounts payable | 47/48 | €124,915 | €109,868 | -€15,047 | -12.0% |
| Accrued charges and deferred income | 492/3 | €4,133 | €2,868 | -€1,264 | -30.6% |
| Non-recurring operating income | 76A | €5,666 | - | -€5,666 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,578 | €39,381 | +€6,803 | +20.9% |
| Other operating charges | 640/8 | €5,430 | €5,660 | +€230 | +4.2% |
| Non-recurring operating charges | 66A | €272 | - | -€272 | |
| Gross operating margin | 9900 | €59,524 | €57,356 | -€2,169 | -3.6% |
| Operating profit (loss) | 9901 | €21,245 | €12,315 | -€8,930 | -42.0% |
| Financial income | 75/76B | €187 | €81 | -€106 | -56.5% |
| Recurring financial income | 75 | €187 | €81 | -€106 | -56.5% |
| Financial charges | 65/66B | €9,076 | €10,743 | +€1,666 | +18.4% |
| Recurring financial charges | 65 | €9,076 | €8,775 | -€301 | -3.3% |
| Non-recurring financial charges | 66B | - | €1,968 | +€1,968 | |
| Profit (loss) for the period before taxes | 9903 | €12,356 | €1,654 | -€10,703 | -86.6% |
| Income taxes | 67/77 | €128 | €488 | +€360 | +281.1% |
| Profit (loss) for the period | 9904 | €12,228 | €1,166 | -€11,062 | -90.5% |
| Profit (loss) for the period to be appropriated | 9905 | €12,228 | €1,166 | -€11,062 | -90.5% |
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 10 October 2026 via checked.be.