Boa Bay: 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.
Boa Bay
Largest movements
- Receivables within one year +€16,724
up €16,724 (+323%), from €5,174 to €21,898
of which Trade receivables: +€17,065
- Cash +€13,376
up €13,376 (+93.4%), from €14,317 to €27,693
mainly Net result for the year (+€28,828) and Depreciation (+€8,947)
- Tangible fixed assets -€6,698
down €6,698 (-4.3%), from €155,495 to €148,797
of which Land and buildings: -€7,166
- Reserves +€26,650
up €26,650 (+78.6%), from €33,920 to €60,570
of which Distributable reserves: +€26,650
- Debts after one year -€6,849
down €6,849 (-7.1%), from €96,698 to €89,849
- Profit (loss) carried forward +€2,178
no longer reported in 2025 (was -€2,178)
- Gross operating margin +€40,252
up €40,252 (+372%), from €10,807 to €51,059
- Taxes +€9,498
up €9,498 (+26,383%), from €36 to €9,534
- Financial income +€587
up €587 (+126%), from €466 to €1,053
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 | €178,230 | €200,828 | +€22,598 | +12.7% |
| Fixed assets | 21/28 | €155,595 | €148,897 | -€6,698 | -4.3% |
| Tangible fixed assets | 22/27 | €155,495 | €148,797 | -€6,698 | -4.3% |
| Land and buildings | 22 | €152,127 | €144,961 | -€7,166 | -4.7% |
| Plant, machinery and equipment | 23 | €2,245 | €3,240 | +€995 | +44.3% |
| Furniture and vehicles | 24 | €1,123 | €596 | -€527 | -46.9% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €22,635 | €51,931 | +€29,296 | +129% |
| Stocks and contracts in progress | 3 | €2,764 | €1,840 | -€924 | -33.4% |
| Stocks | 30/36 | €2,764 | €1,840 | -€924 | -33.4% |
| Amounts receivable within one year | 40/41 | €5,174 | €21,898 | +€16,724 | +323% |
| Trade receivables | 40 | €532 | €17,597 | +€17,065 | +3,208% |
| Other amounts receivable | 41 | €4,642 | €4,301 | -€341 | -7.3% |
| Cash at bank and in hand | 54/58 | €14,317 | €27,693 | +€13,376 | +93.4% |
| Deferred charges and accrued income | 490/1 | €380 | €500 | +€120 | +31.6% |
| Total equity and liabilities | 10/49 | €178,230 | €200,828 | +€22,598 | +12.7% |
| Equity | 10/15 | €61,742 | €90,570 | +€28,828 | +46.7% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €33,920 | €60,570 | +€26,650 | +78.6% |
| Non-distributable reserves | 130/1 | €3,000 | €3,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,000 | €3,000 | = | 0.0% |
| Distributable reserves | 133 | €30,920 | €57,570 | +€26,650 | +86.2% |
| Profit (loss) carried forward | 14 | -€2,178 | - | +€2,178 | |
| Amounts payable | 17/49 | €116,488 | €110,258 | -€6,230 | -5.3% |
| Amounts payable after more than one year | 17 | €96,698 | €89,849 | -€6,849 | -7.1% |
| Financial debts | 170/4 | €96,698 | €89,849 | -€6,849 | -7.1% |
| Amounts payable within one year | 42/48 | €19,790 | €20,409 | +€619 | +3.1% |
| Current portion of amounts payable after more than one year | 42 | €6,636 | €6,848 | +€212 | +3.2% |
| Trade debts | 44 | €705 | €179 | -€526 | -74.6% |
| Suppliers | 440/4 | €705 | €179 | -€526 | -74.6% |
| Taxes, remuneration and social security | 45 | - | €1,480 | +€1,480 | |
| Taxes | 450/3 | - | €1,480 | +€1,480 | |
| Other amounts payable | 47/48 | €12,449 | €11,902 | -€547 | -4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,885 | €8,947 | +€62 | +0.7% |
| Other operating charges | 640/8 | €982 | €1,009 | +€27 | +2.7% |
| Gross operating margin | 9900 | €10,807 | €51,059 | +€40,252 | +372% |
| Operating profit (loss) | 9901 | €940 | €41,103 | +€40,163 | +4,273% |
| Financial income | 75/76B | €466 | €1,053 | +€587 | +126% |
| Recurring financial income | 75 | €466 | €1,053 | +€587 | +126% |
| Financial charges | 65/66B | €3,548 | €3,794 | +€246 | +6.9% |
| Recurring financial charges | 65 | €3,548 | €3,794 | +€246 | +6.9% |
| Profit (loss) for the period before taxes | 9903 | -€2,142 | €38,362 | +€40,504 | |
| Income taxes | 67/77 | €36 | €9,534 | +€9,498 | +26,383% |
| Profit (loss) for the period | 9904 | -€2,178 | €28,828 | +€31,006 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,178 | €28,828 | +€31,006 |
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 18 October 2026 via checked.be.