BODEFA: 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.
BODEFA
Largest movements
- Current investments -€60,000
down €60,000 (-11.5%), from €520,464 to €460,464
- Cash +€50,481
up €50,481 (+199.2%), from €25,337 to €75,818
mainly Current investments (+€60,000) and Depreciation (+€23,245)
- Tangible fixed assets -€23,245
down €23,245 (-2.4%), from €975,320 to €952,075
of which Land and buildings: -€19,651
- Other debts -€40,839
down €40,839 (-59.7%), from €68,393 to €27,554
- Financial charges -€35,629
down €35,629 (-92.4%), from €38,579 to €2,950
- Financial income -€3,668
down €3,668 (-29.9%), from €12,247 to €8,579
- Gross operating margin -€1,418
down €1,418 (-4.8%), from €29,271 to €27,854
- Other operating charges -€1,218
down €1,218 (-22.9%), from €5,317 to €4,099
- Depreciation +€881
up €881 (+3.9%), from €22,364 to €23,245
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 | €1,523,766 | €1,489,765 | -€34,001 | -2.2% |
| Fixed assets | 21/28 | €975,320 | €952,075 | -€23,245 | -2.4% |
| Tangible fixed assets | 22/27 | €975,320 | €952,075 | -€23,245 | -2.4% |
| Land and buildings | 22 | €945,498 | €925,848 | -€19,651 | -2.1% |
| Other tangible fixed assets | 26 | €29,822 | €26,228 | -€3,594 | -12.1% |
| Current assets | 29/58 | €548,446 | €537,690 | -€10,756 | -2.0% |
| Amounts receivable within one year | 40/41 | €2,645 | €1,407 | -€1,238 | -46.8% |
| Other amounts receivable | 41 | €2,645 | €1,407 | -€1,238 | -46.8% |
| Current investments | 50/53 | €520,464 | €460,464 | -€60,000 | -11.5% |
| Cash at bank and in hand | 54/58 | €25,337 | €75,818 | +€50,481 | +199.2% |
| Total equity and liabilities | 10/49 | €1,523,766 | €1,489,765 | -€34,001 | -2.2% |
| Equity | 10/15 | €1,453,185 | €1,457,774 | +€4,589 | +0.3% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €1,417,840 | €1,417,840 | = | 0.0% |
| Non-distributable reserves | 130/1 | €116,095 | €116,095 | = | 0.0% |
| Legal reserve | 130 | €116,095 | €116,095 | = | 0.0% |
| Distributable reserves | 133 | €1,301,744 | €1,301,744 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€27,155 | -€22,565 | +€4,589 | +16.9% |
| Amounts payable | 17/49 | €70,581 | €31,991 | -€38,590 | -54.7% |
| Amounts payable within one year | 42/48 | €70,496 | €31,906 | -€38,590 | -54.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €1,688 | €4,219 | +€2,531 | +150.0% |
| Suppliers | 440/4 | €1,688 | €4,219 | +€2,531 | +150.0% |
| Taxes, remuneration and social security | 45 | €415 | €133 | -€282 | -68.0% |
| Taxes | 450/3 | €415 | €133 | -€282 | -68.0% |
| Other amounts payable | 47/48 | €68,393 | €27,554 | -€40,839 | -59.7% |
| Accrued charges and deferred income | 492/3 | €85 | €85 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,364 | €23,245 | +€881 | +3.9% |
| Other operating charges | 640/8 | €5,317 | €4,099 | -€1,218 | -22.9% |
| Gross operating margin | 9900 | €29,271 | €27,854 | -€1,418 | -4.8% |
| Operating profit (loss) | 9901 | €1,590 | €510 | -€1,081 | -67.9% |
| Financial income | 75/76B | €12,247 | €8,579 | -€3,668 | -29.9% |
| Recurring financial income | 75 | €12,247 | €8,579 | -€3,668 | -29.9% |
| Financial charges | 65/66B | €38,579 | €2,950 | -€35,629 | -92.4% |
| Recurring financial charges | 65 | €38,579 | €2,950 | -€35,629 | -92.4% |
| Profit (loss) for the period before taxes | 9903 | -€24,742 | €6,139 | +€30,881 | |
| Income taxes | 67/77 | €2,413 | €1,550 | -€863 | -35.8% |
| Profit (loss) for the period | 9904 | -€27,155 | €4,589 | +€31,744 | |
| Profit (loss) for the period to be appropriated | 9905 | -€27,155 | €4,589 | +€31,744 |
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 28 September 2026 via checked.be.