BOCCA NERA: 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.
BOCCA NERA
Largest movements
- Cash +€52,044
up €52,044 (+91.6%), from €56,802 to €108,846
mainly Depreciation (+€54,119) and Tax, wage and social debts (+€43,045)
- Tangible fixed assets -€41,733
down €41,733 (-21.8%), from €191,523 to €149,790
of which Furniture and vehicles: -€27,445
- Receivables within one year -€10,875
down €10,875 (-80.2%), from €13,557 to €2,682
of which Trade receivables: -€11,475
- Deferred charges and accrued income +€9,032
up €9,032, from €0 to €9,032
- Formation expenses -€6,184
down €6,184 (-27.7%), from €22,317 to €16,133
- Tax, wage and social debts +€43,045
up €43,045 (+56.1%), from €76,695 to €119,740
of which Taxes: +€27,330
- Trade debts -€30,365
down €30,365 (-29.2%), from €104,074 to €73,710
- Profit (loss) carried forward +€19,614
up €19,614 (+4199.4%), from €467 to €20,081
- Debts after one year -€18,638
down €18,638 (-100.0%), from €18,638 to €0
- Current portion of long-term debt -€9,592
down €9,592 (-34.0%), from €28,230 to €18,638
- Gross operating margin +€252,383
up €252,383 (+55.4%), from €455,831 to €708,215
- Staff costs +€211,152
up €211,152 (+52.3%), from €403,968 to €615,120
- Depreciation +€10,938
up €10,938 (+25.3%), from €43,181 to €54,119
- Taxes +€8,104
up €8,104 (+585.8%), from €1,383 to €9,487
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 | €310,449 | €311,769 | +€1,320 | +0.4% |
| Formation expenses | 20 | €22,317 | €16,133 | -€6,184 | -27.7% |
| Fixed assets | 21/28 | €191,523 | €149,790 | -€41,733 | -21.8% |
| Tangible fixed assets | 22/27 | €191,523 | €149,790 | -€41,733 | -21.8% |
| Plant, machinery and equipment | 23 | €116,352 | €102,064 | -€14,288 | -12.3% |
| Furniture and vehicles | 24 | €75,171 | €47,726 | -€27,445 | -36.5% |
| Current assets | 29/58 | €96,609 | €145,846 | +€49,237 | +51.0% |
| Stocks and contracts in progress | 3 | €26,250 | €25,287 | -€963 | -3.7% |
| Stocks | 30/36 | €26,250 | €25,287 | -€963 | -3.7% |
| Amounts receivable within one year | 40/41 | €13,557 | €2,682 | -€10,875 | -80.2% |
| Trade receivables | 40 | €13,557 | €2,082 | -€11,475 | -84.6% |
| Other amounts receivable | 41 | - | €600 | +€600 | |
| Cash at bank and in hand | 54/58 | €56,802 | €108,846 | +€52,044 | +91.6% |
| Deferred charges and accrued income | 490/1 | €0 | €9,032 | +€9,032 | |
| Total equity and liabilities | 10/49 | €310,449 | €311,769 | +€1,320 | +0.4% |
| Equity | 10/15 | €4,967 | €24,581 | +€19,614 | +394.9% |
| Contributions | 10/11 | €4,500 | €4,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €467 | €20,081 | +€19,614 | +4199.4% |
| Amounts payable | 17/49 | €305,482 | €287,188 | -€18,294 | -6.0% |
| Amounts payable after more than one year | 17 | €18,638 | €0 | -€18,638 | -100.0% |
| Financial debts | 170/4 | €18,638 | €0 | -€18,638 | -100.0% |
| Amounts payable within one year | 42/48 | €281,099 | €286,288 | +€5,189 | +1.8% |
| Current portion of amounts payable after more than one year | 42 | €28,230 | €18,638 | -€9,592 | -34.0% |
| Trade debts | 44 | €104,074 | €73,710 | -€30,365 | -29.2% |
| Suppliers | 440/4 | €104,074 | €73,710 | -€30,365 | -29.2% |
| Taxes, remuneration and social security | 45 | €76,695 | €119,740 | +€43,045 | +56.1% |
| Taxes | 450/3 | €17,564 | €44,894 | +€27,330 | +155.6% |
| Remuneration and social security | 454/9 | €59,131 | €74,846 | +€15,715 | +26.6% |
| Other amounts payable | 47/48 | €72,100 | €74,200 | +€2,100 | +2.9% |
| Accrued charges and deferred income | 492/3 | €5,745 | €900 | -€4,845 | -84.3% |
| Remuneration, social security and pensions | 62 | €403,968 | €615,120 | +€211,152 | +52.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,181 | €54,119 | +€10,938 | +25.3% |
| Other operating charges | 640/8 | €2,395 | €5,568 | +€3,173 | +132.5% |
| Gross operating margin | 9900 | €455,831 | €708,215 | +€252,383 | +55.4% |
| Operating profit (loss) | 9901 | €6,287 | €33,408 | +€27,121 | +431.4% |
| Financial income | 75/76B | €112 | €118 | +€6 | +5.8% |
| Recurring financial income | 75 | €112 | €118 | +€6 | +5.8% |
| Financial charges | 65/66B | €4,128 | €4,425 | +€297 | +7.2% |
| Recurring financial charges | 65 | €4,128 | €4,425 | +€297 | +7.2% |
| Profit (loss) for the period before taxes | 9903 | €2,271 | €29,102 | +€26,831 | +1181.4% |
| Income taxes | 67/77 | €1,383 | €9,487 | +€8,104 | +585.8% |
| Profit (loss) for the period | 9904 | €888 | €19,614 | +€18,727 | +2109.6% |
| Profit (loss) for the period to be appropriated | 9905 | €888 | €19,614 | +€18,727 | +2109.6% |
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 5 October 2026 via checked.be.