BO-REVAL: 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-REVAL
Largest movements
- Receivables within one year -€31,724
down €31,724 (-76.9%), from €41,227 to €9,503
of which Trade receivables: -€37,244
- Cash +€22,376
up €22,376 (+5.8%), from €384,228 to €406,604
mainly Net result for the year (+€64,521) and Receivables within one year (+€31,724)
- Tangible fixed assets -€7,918
down €7,918 (-14.1%), from €55,964 to €48,046
- Other debts -€39,286
down €39,286 (-10.0%), from €391,004 to €351,718
- Reserves +€25,521
up €25,521 (+8.1%), from €314,387 to €339,909
- Gross operating margin -€30,070
down €30,070 (-17.7%), from €170,217 to €140,148
- Taxes -€13,485
down €13,485 (-35.2%), from €38,267 to €24,783
- Other operating charges +€11,159
up €11,159 (+236%), from €4,721 to €15,881
- Financial income -€7,598
down €7,598 (-81.3%), from €9,343 to €1,745
- Financial charges -€3,712
down €3,712 (-14.4%), from €25,785 to €22,073
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 | €783,108 | €767,224 | -€15,884 | -2.0% |
| Fixed assets | 21/28 | €55,964 | €48,046 | -€7,918 | -14.1% |
| Tangible fixed assets | 22/27 | €55,964 | €48,046 | -€7,918 | -14.1% |
| Land and buildings | 22 | €15,713 | €13,333 | -€2,380 | -15.1% |
| Plant, machinery and equipment | 23 | €29,294 | €26,557 | -€2,737 | -9.3% |
| Furniture and vehicles | 24 | €5,606 | €3,448 | -€2,158 | -38.5% |
| Other tangible fixed assets | 26 | €5,351 | €4,708 | -€642 | -12.0% |
| Current assets | 29/58 | €727,144 | €719,178 | -€7,966 | -1.1% |
| Amounts receivable within one year | 40/41 | €41,227 | €9,503 | -€31,724 | -76.9% |
| Trade receivables | 40 | €41,227 | €3,982 | -€37,244 | -90.3% |
| Other amounts receivable | 41 | - | €5,521 | +€5,521 | |
| Current investments | 50/53 | €296,626 | €298,017 | +€1,391 | +0.5% |
| Cash at bank and in hand | 54/58 | €384,228 | €406,604 | +€22,376 | +5.8% |
| Deferred charges and accrued income | 490/1 | €5,063 | €5,054 | -€10 | -0.2% |
| Total equity and liabilities | 10/49 | €783,108 | €767,224 | -€15,884 | -2.0% |
| Equity | 10/15 | €373,536 | €399,058 | +€25,521 | +6.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €314,387 | €339,909 | +€25,521 | +8.1% |
| Distributable reserves | 133 | €314,387 | €339,909 | +€25,521 | +8.1% |
| Profit (loss) carried forward | 14 | €46,749 | €46,749 | = | 0.0% |
| Amounts payable | 17/49 | €409,572 | €368,166 | -€41,406 | -10.1% |
| Amounts payable within one year | 42/48 | €407,672 | €368,166 | -€39,506 | -9.7% |
| Trade debts | 44 | €2,437 | €3,493 | +€1,056 | +43.3% |
| Suppliers | 440/4 | €2,437 | €3,493 | +€1,056 | +43.3% |
| Taxes, remuneration and social security | 45 | €14,231 | €12,955 | -€1,276 | -9.0% |
| Taxes | 450/3 | €4,381 | €4,123 | -€258 | -5.9% |
| Remuneration and social security | 454/9 | €9,850 | €8,832 | -€1,018 | -10.3% |
| Other amounts payable | 47/48 | €391,004 | €351,718 | -€39,286 | -10.0% |
| Accrued charges and deferred income | 492/3 | €1,900 | - | -€1,900 | |
| Non-recurring operating income | 76A | €8,701 | - | -€8,701 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,259 | €14,635 | -€1,624 | -10.0% |
| Other operating charges | 640/8 | €4,721 | €15,881 | +€11,159 | +236% |
| Gross operating margin | 9900 | €170,217 | €140,148 | -€30,070 | -17.7% |
| Operating profit (loss) | 9901 | €149,237 | €109,632 | -€39,604 | -26.5% |
| Financial income | 75/76B | €9,343 | €1,745 | -€7,598 | -81.3% |
| Recurring financial income | 75 | €9,343 | €1,745 | -€7,598 | -81.3% |
| Financial charges | 65/66B | €25,785 | €22,073 | -€3,712 | -14.4% |
| Recurring financial charges | 65 | €25,785 | €22,073 | -€3,712 | -14.4% |
| Profit (loss) for the period before taxes | 9903 | €132,795 | €89,304 | -€43,491 | -32.8% |
| Income taxes | 67/77 | €38,267 | €24,783 | -€13,485 | -35.2% |
| Profit (loss) for the period | 9904 | €94,527 | €64,521 | -€30,006 | -31.7% |
| Profit (loss) for the period to be appropriated | 9905 | €94,527 | €64,521 | -€30,006 | -31.7% |
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 26 October 2026 via checked.be.