Bocaro: what changed
Two fiscal 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.
Bocaro
Largest movements
- Cash -€231,838
down €231,838 (-93.2%), from €248,632 to €16,795
mainly Debts after one year (-€405,356) and Investment in fixed assets (net) (-€110,174)
- Receivables within one year -€113,735
down €113,735 (-99.4%), from €114,406 to €671
of which Trade receivables: -€106,078
- Tangible fixed assets +€67,852
up €67,852 (+4.7%), from €1.5m to €1.5m
- Debts after one year -€405,356
down €405,356 (-27.2%), from €1.5m to €1.1m
of which Financial debts: -€397,808
- Other debts +€160,600
new in 2025: €160,600
- Profit (loss) carried forward -€35,676
down €35,676 (-12.8%), from €278,074 to €242,398
- Gross operating margin -€80,600
down €80,600 (-68.6%), from €117,534 to €36,934
- Depreciation +€42,322
new in 2025: €42,322
- Financial charges +€15,038
up €15,038 (+172.7%), from €8,710 to €23,748
- Other operating charges +€5,530
up €5,530 (+547.9%), from €1,009 to €6,539
- Write-downs +€2,043
no longer reported in 2025 (was -€2,043)
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 | €1,814,279 | €1,536,558 | -€277,721 | -15.3% |
| Fixed assets | 21/28 | €1,451,241 | €1,519,093 | +€67,852 | +4.7% |
| Tangible fixed assets | 22/27 | €1,451,241 | €1,519,093 | +€67,852 | +4.7% |
| Land and buildings | 22 | €1,451,241 | €1,519,093 | +€67,852 | +4.7% |
| Current assets | 29/58 | €363,038 | €17,465 | -€345,573 | -95.2% |
| Amounts receivable within one year | 40/41 | €114,406 | €671 | -€113,735 | -99.4% |
| Trade receivables | 40 | €106,465 | €387 | -€106,078 | -99.6% |
| Other amounts receivable | 41 | €7,941 | €284 | -€7,657 | -96.4% |
| Cash at bank and in hand | 54/58 | €248,632 | €16,795 | -€231,838 | -93.2% |
| Total equity and liabilities | 10/49 | €1,814,279 | €1,536,558 | -€277,721 | -15.3% |
| Equity | 10/15 | €286,134 | €250,458 | -€35,676 | -12.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €278,074 | €242,398 | -€35,676 | -12.8% |
| Amounts payable | 17/49 | €1,528,145 | €1,286,099 | -€242,045 | -15.8% |
| Amounts payable after more than one year | 17 | €1,488,611 | €1,083,254 | -€405,356 | -27.2% |
| Financial debts | 170/4 | €1,470,611 | €1,072,802 | -€397,808 | -27.1% |
| Other amounts payable | 178/9 | €18,000 | €10,452 | -€7,548 | -41.9% |
| Amounts payable within one year | 42/48 | €39,534 | €199,545 | +€160,011 | +404.7% |
| Current portion of amounts payable after more than one year | 42 | €36,504 | €37,808 | +€1,305 | +3.6% |
| Trade debts | 44 | - | €387 | +€387 | |
| Suppliers | 440/4 | - | €387 | +€387 | |
| Taxes, remuneration and social security | 45 | €3,031 | €749 | -€2,281 | -75.3% |
| Taxes | 450/3 | €3,031 | €749 | -€2,281 | -75.3% |
| Other amounts payable | 47/48 | - | €160,600 | +€160,600 | |
| Accrued charges and deferred income | 492/3 | - | €3,300 | +€3,300 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €42,322 | +€42,322 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,043 | - | +€2,043 | |
| Other operating charges | 640/8 | €1,009 | €6,539 | +€5,530 | +547.9% |
| Gross operating margin | 9900 | €117,534 | €36,934 | -€80,600 | -68.6% |
| Operating profit (loss) | 9901 | €118,568 | -€11,928 | -€130,496 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €8,710 | €23,748 | +€15,038 | +172.7% |
| Recurring financial charges | 65 | €8,710 | €23,748 | +€15,038 | +172.7% |
| Profit (loss) for the period before taxes | 9903 | €109,858 | -€35,676 | -€145,534 | |
| Income taxes | 67/77 | €749 | - | -€749 | |
| Profit (loss) for the period | 9904 | €109,109 | -€35,676 | -€144,784 | |
| Profit (loss) for the period to be appropriated | 9905 | €109,109 | -€35,676 | -€144,784 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.