BOCOW: 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.
BOCOW
Largest movements
- Tangible fixed assets -€23,705
down €23,705 (-23.6%), from €100,390 to €76,684
of which Plant, machinery and equipment: -€18,409
- Stocks and contracts +€23,527
up €23,527 (+82.1%), from €28,662 to €52,189
- Receivables within one year -€21,858
down €21,858 (-46.3%), from €47,229 to €25,371
of which Trade receivables: -€28,843
- Cash -€16,272
down €16,272 (-11.8%), from €138,377 to €122,106
mainly Stocks and contracts (-€23,527) and Debts after one year (-€20,432)
- Deferred charges and accrued income +€3,721
up €3,721 (+107.2%), from €3,472 to €7,193
- Debts after one year -€20,432
down €20,432 (-67.7%), from €30,179 to €9,747
- Profit (loss) carried forward -€8,626
down €8,626 (-8.9%), from €96,646 to €88,020
- Tax, wage and social debts -€4,940
down €4,940 (-15.7%), from €31,394 to €26,454
of which Taxes: -€5,965
- Staff costs +€23,879
up €23,879 (+14.8%), from €161,785 to €185,664
- Gross operating margin -€18,520
down €18,520 (-7.9%), from €234,090 to €215,570
- Taxes -€11,370
down €11,370 (-96.9%), from €11,734 to €363
- Depreciation +€4,007
up €4,007 (+16.0%), from €25,113 to €29,121
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €322,710 | €286,874 | -€35,837 | -11.1% |
| Fixed assets | 21/28 | €104,970 | €80,015 | -€24,955 | -23.8% |
| Intangible fixed assets | 21 | €1,563 | €313 | -€1,250 | -80.0% |
| Tangible fixed assets | 22/27 | €100,390 | €76,684 | -€23,705 | -23.6% |
| Plant, machinery and equipment | 23 | €87,954 | €69,545 | -€18,409 | -20.9% |
| Furniture and vehicles | 24 | €12,436 | €7,139 | -€5,297 | -42.6% |
| Financial fixed assets | 28 | €3,018 | €3,018 | = | 0.0% |
| Current assets | 29/58 | €217,740 | €206,859 | -€10,881 | -5.0% |
| Stocks and contracts in progress | 3 | €28,662 | €52,189 | +€23,527 | +82.1% |
| Stocks | 30/36 | €28,662 | €52,189 | +€23,527 | +82.1% |
| Amounts receivable within one year | 40/41 | €47,229 | €25,371 | -€21,858 | -46.3% |
| Trade receivables | 40 | €42,279 | €13,436 | -€28,843 | -68.2% |
| Other amounts receivable | 41 | €4,950 | €11,935 | +€6,985 | +141.1% |
| Cash at bank and in hand | 54/58 | €138,377 | €122,106 | -€16,272 | -11.8% |
| Deferred charges and accrued income | 490/1 | €3,472 | €7,193 | +€3,721 | +107.2% |
| Total equity and liabilities | 10/49 | €322,710 | €286,874 | -€35,837 | -11.1% |
| Equity | 10/15 | €221,966 | €213,340 | -€8,626 | -3.9% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €94,320 | €94,320 | = | 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% |
| Distributable reserves | 133 | €92,460 | €92,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €96,646 | €88,020 | -€8,626 | -8.9% |
| Amounts payable | 17/49 | €100,744 | €73,533 | -€27,211 | -27.0% |
| Amounts payable after more than one year | 17 | €30,179 | €9,747 | -€20,432 | -67.7% |
| Financial debts | 170/4 | €30,179 | €9,747 | -€20,432 | -67.7% |
| Amounts payable within one year | 42/48 | €70,565 | €63,786 | -€6,779 | -9.6% |
| Current portion of amounts payable after more than one year | 42 | €23,125 | €21,951 | -€1,175 | -5.1% |
| Trade debts | 44 | €15,520 | €15,302 | -€218 | -1.4% |
| Suppliers | 440/4 | €14,664 | €14,445 | -€218 | -1.5% |
| Bills of exchange payable | 441 | €856 | €856 | = | 0.0% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €31,394 | €26,454 | -€4,940 | -15.7% |
| Taxes | 450/3 | €14,554 | €8,589 | -€5,965 | -41.0% |
| Remuneration and social security | 454/9 | €16,840 | €17,864 | +€1,024 | +6.1% |
| Other amounts payable | 47/48 | €526 | €80 | -€446 | -84.8% |
| Remuneration, social security and pensions | 62 | €161,785 | €185,664 | +€23,879 | +14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,113 | €29,121 | +€4,007 | +16.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€856 | €0 | +€856 | |
| Other operating charges | 640/8 | €4,353 | €4,496 | +€143 | +3.3% |
| Gross operating margin | 9900 | €234,090 | €215,570 | -€18,520 | -7.9% |
| Operating profit (loss) | 9901 | €43,695 | -€3,711 | -€47,406 | |
| Financial income | 75/76B | €488 | €1,126 | +€639 | +131.0% |
| Recurring financial income | 75 | €488 | €1,126 | +€639 | +131.0% |
| Financial charges | 65/66B | €6,655 | €5,678 | -€977 | -14.7% |
| Recurring financial charges | 65 | €6,655 | €5,678 | -€977 | -14.7% |
| Profit (loss) for the period before taxes | 9903 | €37,528 | -€8,262 | -€45,790 | |
| Income taxes | 67/77 | €11,734 | €363 | -€11,370 | -96.9% |
| Profit (loss) for the period | 9904 | €25,794 | -€8,626 | -€34,420 | |
| Profit (loss) for the period to be appropriated | 9905 | €25,794 | -€8,626 | -€34,420 |
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 9 October 2026 via checked.be.