BOFIMAS: 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.
BOFIMAS
Largest movements
- Receivables within one year +€66,756
up €66,756 (+23.8%), from €280,325 to €347,081
of which Other amounts receivable: +€108,501
- Cash -€41,006
down €41,006 (-62.8%), from €65,328 to €24,322
mainly Receivables within one year (-€66,756) and Investment in fixed assets (net) (-€39,448)
- Intangible fixed assets -€17,786
down €17,786 (-19.4%), from €91,657 to €73,872
- Deferred charges and accrued income +€9,890
up €9,890 (+68.5%), from €14,431 to €24,321
- Tangible fixed assets +€9,618
up €9,618 (+5.0%), from €191,924 to €201,542
of which Furniture and vehicles: +€21,238
- Trade debts +€36,269
up €36,269 (+26.2%), from €138,269 to €174,538
- Debts after one year -€21,360
down €21,360 (-10.9%), from €195,648 to €174,288
- Short-term financial debts -€13,359
down €13,359 (-26.7%), from €50,048 to €36,689
- Current portion of long-term debt +€10,087
up €10,087 (+23.0%), from €43,930 to €54,016
- Other debts +€9,681
up €9,681 (+8.9%), from €108,994 to €118,675
- Gross operating margin +€55,283
up €55,283 (+20.5%), from €269,113 to €324,396
- Staff costs +€49,290
up €49,290 (+24.1%), from €204,173 to €253,463
- Depreciation +€6,901
up €6,901 (+16.9%), from €40,715 to €47,615
- Write-downs -€5,616
down €5,616 (-84.5%), from €6,643 to €1,027
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 | €683,666 | €711,138 | +€27,473 | +4.0% |
| Fixed assets | 21/28 | €283,581 | €275,414 | -€8,168 | -2.9% |
| Intangible fixed assets | 21 | €91,657 | €73,872 | -€17,786 | -19.4% |
| Tangible fixed assets | 22/27 | €191,924 | €201,542 | +€9,618 | +5.0% |
| Plant, machinery and equipment | 23 | €5,667 | €4,295 | -€1,372 | -24.2% |
| Furniture and vehicles | 24 | €82,481 | €103,719 | +€21,238 | +25.7% |
| Other tangible fixed assets | 26 | €103,776 | €93,528 | -€10,247 | -9.9% |
| Current assets | 29/58 | €400,084 | €435,725 | +€35,640 | +8.9% |
| Amounts receivable within one year | 40/41 | €280,325 | €347,081 | +€66,756 | +23.8% |
| Trade receivables | 40 | €221,499 | €179,754 | -€41,745 | -18.8% |
| Other amounts receivable | 41 | €58,826 | €167,327 | +€108,501 | +184.4% |
| Current investments | 50/53 | €40,000 | €40,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €65,328 | €24,322 | -€41,006 | -62.8% |
| Deferred charges and accrued income | 490/1 | €14,431 | €24,321 | +€9,890 | +68.5% |
| Total equity and liabilities | 10/49 | €683,666 | €711,138 | +€27,473 | +4.0% |
| Equity | 10/15 | €127,909 | €128,023 | +€113 | +0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €109,309 | €109,423 | +€113 | +0.1% |
| Distributable reserves | 133 | €109,309 | €109,423 | +€113 | +0.1% |
| Amounts payable | 17/49 | €555,756 | €583,116 | +€27,359 | +4.9% |
| Amounts payable after more than one year | 17 | €195,648 | €174,288 | -€21,360 | -10.9% |
| Financial debts | 170/4 | €195,648 | €174,288 | -€21,360 | -10.9% |
| Amounts payable within one year | 42/48 | €359,243 | €407,962 | +€48,720 | +13.6% |
| Current portion of amounts payable after more than one year | 42 | €43,930 | €54,016 | +€10,087 | +23.0% |
| Financial debts | 43 | €50,048 | €36,689 | -€13,359 | -26.7% |
| Credit institutions | 430/8 | €50,048 | €36,689 | -€13,359 | -26.7% |
| Trade debts | 44 | €138,269 | €174,538 | +€36,269 | +26.2% |
| Suppliers | 440/4 | €138,269 | €174,538 | +€36,269 | +26.2% |
| Taxes, remuneration and social security | 45 | €18,002 | €24,044 | +€6,042 | +33.6% |
| Taxes | 450/3 | €75 | €2,127 | +€2,052 | +2754.4% |
| Remuneration and social security | 454/9 | €17,927 | €21,917 | +€3,990 | +22.3% |
| Other amounts payable | 47/48 | €108,994 | €118,675 | +€9,681 | +8.9% |
| Accrued charges and deferred income | 492/3 | €865 | €865 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €204,173 | €253,463 | +€49,290 | +24.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,715 | €47,615 | +€6,901 | +16.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,643 | €1,027 | -€5,616 | -84.5% |
| Other operating charges | 640/8 | €867 | €3,810 | +€2,943 | +339.4% |
| Gross operating margin | 9900 | €269,113 | €324,396 | +€55,283 | +20.5% |
| Operating profit (loss) | 9901 | €16,714 | €18,480 | +€1,765 | +10.6% |
| Financial income | 75/76B | €1,798 | €1,175 | -€623 | -34.6% |
| Recurring financial income | 75 | €1,798 | €1,175 | -€623 | -34.6% |
| Financial charges | 65/66B | €8,574 | €8,240 | -€334 | -3.9% |
| Recurring financial charges | 65 | €8,574 | €8,240 | -€334 | -3.9% |
| Profit (loss) for the period before taxes | 9903 | €9,938 | €11,415 | +€1,476 | +14.9% |
| Income taxes | 67/77 | €4,762 | €7,079 | +€2,317 | +48.7% |
| Profit (loss) for the period | 9904 | €5,177 | €4,336 | -€841 | -16.2% |
| Profit (loss) for the period to be appropriated | 9905 | €5,177 | €4,336 | -€841 | -16.2% |
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.