BO-Invest: 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-Invest
Largest movements
- Cash +€55,384
up €55,384 (+487%), from €11,367 to €66,751
mainly Net result for the year (+€62,519) and Depreciation (+€24,303)
- Tangible fixed assets -€19,303
down €19,303 (-4.8%), from €403,130 to €383,827
of which Plant, machinery and equipment: -€19,303
- Receivables within one year -€6,837
down €6,837 (-7.5%), from €90,777 to €83,940
of which Trade receivables: -€9,879
- Reserves +€62,000
up €62,000 (+82.4%), from €75,235 to €137,235
- Debts after one year -€43,137
down €43,137 (-15.5%), from €278,947 to €235,810
- Current portion of long-term debt +€7,480
up €7,480 (+12.3%), from €60,657 to €68,137
- Gross operating margin +€29,872
up €29,872 (+29.3%), from €101,904 to €131,776
- Taxes +€15,119
up €15,119 (+104%), from €14,575 to €29,694
- Depreciation -€14,942
down €14,942 (-38.1%), from €39,245 to €24,303
- Other operating charges -€2,055
down €2,055 (-72.4%), from €2,837 to €782
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 | €505,459 | €534,703 | +€29,244 | +5.8% |
| Fixed assets | 21/28 | €403,315 | €384,012 | -€19,303 | -4.8% |
| Tangible fixed assets | 22/27 | €403,130 | €383,827 | -€19,303 | -4.8% |
| Land and buildings | 22 | €200,000 | €200,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €75,400 | €56,097 | -€19,303 | -25.6% |
| Other tangible fixed assets | 26 | €127,730 | €127,730 | = | 0.0% |
| Financial fixed assets | 28 | €185 | €185 | = | 0.0% |
| Current assets | 29/58 | €102,143 | €150,691 | +€48,547 | +47.5% |
| Amounts receivable within one year | 40/41 | €90,777 | €83,940 | -€6,837 | -7.5% |
| Trade receivables | 40 | €47,651 | €37,772 | -€9,879 | -20.7% |
| Other amounts receivable | 41 | €43,125 | €46,168 | +€3,043 | +7.1% |
| Cash at bank and in hand | 54/58 | €11,367 | €66,751 | +€55,384 | +487% |
| Total equity and liabilities | 10/49 | €505,459 | €534,703 | +€29,244 | +5.8% |
| Equity | 10/15 | €134,163 | €196,682 | +€62,519 | +46.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €75,235 | €137,235 | +€62,000 | +82.4% |
| Distributable reserves | 133 | €75,235 | €137,235 | +€62,000 | +82.4% |
| Profit (loss) carried forward | 14 | €52,728 | €53,247 | +€519 | +1.0% |
| Amounts payable | 17/49 | €371,295 | €338,021 | -€33,275 | -9.0% |
| Amounts payable after more than one year | 17 | €278,947 | €235,810 | -€43,137 | -15.5% |
| Financial debts | 170/4 | €278,947 | €235,810 | -€43,137 | -15.5% |
| Amounts payable within one year | 42/48 | €92,348 | €102,211 | +€9,863 | +10.7% |
| Current portion of amounts payable after more than one year | 42 | €60,657 | €68,137 | +€7,480 | +12.3% |
| Trade debts | 44 | €3,990 | €4,718 | +€727 | +18.2% |
| Suppliers | 440/4 | €3,990 | €4,718 | +€727 | +18.2% |
| Taxes, remuneration and social security | 45 | €27,701 | €29,356 | +€1,655 | +6.0% |
| Taxes | 450/3 | €27,701 | €29,356 | +€1,655 | +6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,245 | €24,303 | -€14,942 | -38.1% |
| Other operating charges | 640/8 | €2,837 | €782 | -€2,055 | -72.4% |
| Gross operating margin | 9900 | €101,904 | €131,776 | +€29,872 | +29.3% |
| Operating profit (loss) | 9901 | €59,822 | €106,690 | +€46,868 | +78.3% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €15,437 | €14,478 | -€959 | -6.2% |
| Recurring financial charges | 65 | €15,437 | €14,478 | -€959 | -6.2% |
| Profit (loss) for the period before taxes | 9903 | €44,385 | €92,212 | +€47,827 | +108% |
| Income taxes | 67/77 | €14,575 | €29,694 | +€15,119 | +104% |
| Profit (loss) for the period | 9904 | €29,810 | €62,519 | +€32,708 | +110% |
| Profit (loss) for the period to be appropriated | 9905 | €29,810 | €62,519 | +€32,708 | +110% |
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 28 October 2026 via checked.be.