BOCOVAN: 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.
BOCOVAN
Largest movements
- Cash +€84,200
up €84,200 (+200.5%), from €42,002 to €126,203
mainly Accrued charges and deferred income (+€34,393) and Receivables within one year (+€27,847)
- Receivables within one year -€27,847
down €27,847 (-18.9%), from €147,499 to €119,652
of which Other amounts receivable: -€65,174
- Accrued charges and deferred income +€34,393
up €34,393, from €0 to €34,393
- Reserves -€26,593
down €26,593 (-23.2%), from €114,542 to €87,948
- Trade debts +€23,029
up €23,029 (+147.4%), from €15,626 to €38,655
- Tax, wage and social debts +€18,332
up €18,332 (+46.3%), from €39,609 to €57,941
of which Taxes: +€19,896
- Other debts +€6,073
up €6,073 (+19.5%), from €31,122 to €37,195
- Other operating charges -€94,825
down €94,825 (-51.9%), from €182,840 to €88,015
- Gross operating margin -€65,414
down €65,414 (-23.6%), from €277,559 to €212,145
- Staff costs +€8,483
up €8,483 (+10.6%), from €79,845 to €88,328
- Taxes +€5,505
up €5,505 (+156.3%), from €3,522 to €9,027
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 | €220,900 | €276,132 | +€55,233 | +25.0% |
| Fixed assets | 21/28 | €24,045 | €24,380 | +€335 | +1.4% |
| Tangible fixed assets | 22/27 | €23,945 | €24,280 | +€335 | +1.4% |
| Furniture and vehicles | 24 | €21,142 | €21,798 | +€656 | +3.1% |
| Other tangible fixed assets | 26 | €2,803 | €2,482 | -€321 | -11.4% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €196,855 | €251,752 | +€54,898 | +27.9% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €147,499 | €119,652 | -€27,847 | -18.9% |
| Trade receivables | 40 | €51,149 | €88,476 | +€37,327 | +73.0% |
| Other amounts receivable | 41 | €96,350 | €31,176 | -€65,174 | -67.6% |
| Cash at bank and in hand | 54/58 | €42,002 | €126,203 | +€84,200 | +200.5% |
| Deferred charges and accrued income | 490/1 | €7,353 | €5,898 | -€1,455 | -19.8% |
| Total equity and liabilities | 10/49 | €220,900 | €276,132 | +€55,233 | +25.0% |
| Equity | 10/15 | €134,542 | €107,948 | -€26,593 | -19.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €114,542 | €87,948 | -€26,593 | -23.2% |
| Distributable reserves | 133 | €114,542 | €87,948 | -€26,593 | -23.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €86,358 | €168,184 | +€81,826 | +94.8% |
| Amounts payable within one year | 42/48 | €86,358 | €133,791 | +€47,433 | +54.9% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €15,626 | €38,655 | +€23,029 | +147.4% |
| Suppliers | 440/4 | €15,626 | €38,655 | +€23,029 | +147.4% |
| Taxes, remuneration and social security | 45 | €39,609 | €57,941 | +€18,332 | +46.3% |
| Taxes | 450/3 | €24,188 | €44,084 | +€19,896 | +82.3% |
| Remuneration and social security | 454/9 | €15,422 | €13,857 | -€1,564 | -10.1% |
| Other amounts payable | 47/48 | €31,122 | €37,195 | +€6,073 | +19.5% |
| Accrued charges and deferred income | 492/3 | €0 | €34,393 | +€34,393 | |
| Remuneration, social security and pensions | 62 | €79,845 | €88,328 | +€8,483 | +10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,958 | €7,148 | +€1,190 | +20.0% |
| Other operating charges | 640/8 | €182,840 | €88,015 | -€94,825 | -51.9% |
| Gross operating margin | 9900 | €277,559 | €212,145 | -€65,414 | -23.6% |
| Operating profit (loss) | 9901 | €8,916 | €28,653 | +€19,738 | +221.4% |
| Financial income | 75/76B | €355 | €3 | -€352 | -99.1% |
| Recurring financial income | 75 | €355 | €3 | -€352 | -99.1% |
| Financial charges | 65/66B | €2,967 | €864 | -€2,103 | -70.9% |
| Recurring financial charges | 65 | €2,967 | €864 | -€2,103 | -70.9% |
| Profit (loss) for the period before taxes | 9903 | €6,304 | €27,793 | +€21,489 | +340.9% |
| Income taxes | 67/77 | €3,522 | €9,027 | +€5,505 | +156.3% |
| Profit (loss) for the period | 9904 | €2,782 | €18,766 | +€15,984 | +574.6% |
| Profit (loss) for the period to be appropriated | 9905 | €2,782 | €18,766 | +€15,984 | +574.6% |
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 6 October 2026 via checked.be.