BOCAGEN: 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.
BOCAGEN
Largest movements
- Financial fixed assets +€142,500
up €142,500 (+79.9%), from €178,275 to €320,775
- Tangible fixed assets +€66,343
up €66,343 (+56.3%), from €117,908 to €184,251
- Cash +€30,769
up €30,769 (+86.2%), from €35,709 to €66,479
mainly Contributions, distributions and other (+€200,300) and Current portion of long-term debt (+€50,350)
- Intangible fixed assets +€20,864
up €20,864 (+250%), from €8,330 to €29,194
- Receivables within one year +€6,772
up €6,772 (+25.3%), from €26,791 to €33,562
of which Trade receivables: +€7,453
- Contributions +€200,300
up €200,300 (+57.8%), from €346,400 to €546,700
- Current portion of long-term debt +€50,350
up €50,350 (+304%), from €16,546 to €66,896
- Trade debts +€33,285
up €33,285 (+788%), from €4,225 to €37,511
- Debts after one year -€16,896
down €16,896 (-65.7%), from €25,730 to €8,834
- Financial charges +€7,222
up €7,222 (+618%), from €1,168 to €8,390
of which Non-recurring financial charges: +€7,500
- Staff costs -€2,323
down €2,323 (-22.2%), from €10,482 to €8,160
- Gross operating margin +€2,175
up €2,175 (+8.4%), from €26,017 to €28,192
- Financial income -€1,792
down €1,792 (-38.1%), from €4,705 to €2,914
- Depreciation +€922
up €922 (+5.4%), from €17,125 to €18,047
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 | €398,616 | €663,538 | +€264,921 | +66.5% |
| Formation expenses | 20 | €988 | €485 | -€503 | -50.9% |
| Fixed assets | 21/28 | €304,513 | €534,220 | +€229,707 | +75.4% |
| Intangible fixed assets | 21 | €8,330 | €29,194 | +€20,864 | +250% |
| Tangible fixed assets | 22/27 | €117,908 | €184,251 | +€66,343 | +56.3% |
| Plant, machinery and equipment | 23 | €117,908 | €184,251 | +€66,343 | +56.3% |
| Financial fixed assets | 28 | €178,275 | €320,775 | +€142,500 | +79.9% |
| Current assets | 29/58 | €93,115 | €128,833 | +€35,717 | +38.4% |
| Amounts receivable after more than one year | 29 | €29,039 | €27,779 | -€1,260 | -4.3% |
| Other amounts receivable | 291 | €29,039 | €27,779 | -€1,260 | -4.3% |
| Amounts receivable within one year | 40/41 | €26,791 | €33,562 | +€6,772 | +25.3% |
| Trade receivables | 40 | €18,806 | €26,259 | +€7,453 | +39.6% |
| Other amounts receivable | 41 | €7,984 | €7,303 | -€681 | -8.5% |
| Cash at bank and in hand | 54/58 | €35,709 | €66,479 | +€30,769 | +86.2% |
| Deferred charges and accrued income | 490/1 | €1,576 | €1,012 | -€564 | -35.8% |
| Total equity and liabilities | 10/49 | €398,616 | €663,538 | +€264,921 | +66.5% |
| Equity | 10/15 | €348,262 | €544,272 | +€196,010 | +56.3% |
| Contributions | 10/11 | €346,400 | €546,700 | +€200,300 | +57.8% |
| Profit (loss) carried forward | 14 | €1,862 | -€2,428 | -€4,290 | |
| Provisions and deferred taxes | 16 | €950 | €1,350 | +€400 | +42.1% |
| Provisions for liabilities and charges | 160/5 | €950 | €1,350 | +€400 | +42.1% |
| Other liabilities and charges | 164/5 | €950 | €1,350 | +€400 | +42.1% |
| Amounts payable | 17/49 | €49,404 | €117,916 | +€68,512 | +139% |
| Amounts payable after more than one year | 17 | €25,730 | €8,834 | -€16,896 | -65.7% |
| Financial debts | 170/4 | €25,730 | €8,834 | -€16,896 | -65.7% |
| Amounts payable within one year | 42/48 | €23,675 | €109,082 | +€85,408 | +361% |
| Current portion of amounts payable after more than one year | 42 | €16,546 | €66,896 | +€50,350 | +304% |
| Trade debts | 44 | €4,225 | €37,511 | +€33,285 | +788% |
| Suppliers | 440/4 | €4,225 | €37,511 | +€33,285 | +788% |
| Taxes, remuneration and social security | 45 | €2,853 | €4,576 | +€1,723 | +60.4% |
| Taxes | 450/3 | €2,032 | €3,648 | +€1,616 | +79.5% |
| Remuneration and social security | 454/9 | €821 | €928 | +€107 | +13.0% |
| Other amounts payable | 47/48 | €50 | €100 | +€50 | +100% |
| Remuneration, social security and pensions | 62 | €10,482 | €8,160 | -€2,323 | -22.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,125 | €18,047 | +€922 | +5.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €400 | €400 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €26,017 | €28,192 | +€2,175 | +8.4% |
| Operating profit (loss) | 9901 | -€2,377 | €1,185 | +€3,563 | |
| Financial income | 75/76B | €4,705 | €2,914 | -€1,792 | -38.1% |
| Recurring financial income | 75 | €4,705 | €2,914 | -€1,792 | -38.1% |
| Financial charges | 65/66B | €1,168 | €8,390 | +€7,222 | +618% |
| Recurring financial charges | 65 | €1,168 | €890 | -€278 | -23.8% |
| Non-recurring financial charges | 66B | - | €7,500 | +€7,500 | |
| Profit (loss) for the period before taxes | 9903 | €1,160 | -€4,290 | -€5,451 | |
| Profit (loss) for the period | 9904 | €1,160 | -€4,290 | -€5,451 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,160 | -€4,290 | -€5,451 |
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 23 October 2026 via checked.be.