BoFor: 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.
BoFor
Largest movements
- Cash +€92,875
up €92,875 (+151.1%), from €61,453 to €154,327
mainly Receivables within one year (+€66,914) and Other debts (+€49,017)
- Receivables within one year -€66,914
down €66,914 (-78.1%), from €85,646 to €18,732
of which Trade receivables: -€63,527
- Financial fixed assets -€6,000
down €6,000 (-100.0%), from €6,000 to €0
- Receivables after one year -€5,057
down €5,057 (-4.5%), from €112,589 to €107,532
- Other debts +€49,017
up €49,017 (+162.5%), from €30,168 to €79,185
- Reserves -€40,752
down €40,752 (-18.5%), from €220,718 to €179,965
- Tax, wage and social debts +€3,477
up €3,477 (+205.8%), from €1,690 to €5,167
- Gross operating margin -€92,705
down €92,705, from €58,369 to -€34,337
- Financial income +€81,684
up €81,684 (+2225.5%), from €3,670 to €85,354
- Taxes -€12,573
down €12,573 (-73.7%), from €17,059 to €4,486
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 | €271,780 | €284,240 | +€12,459 | +4.6% |
| Fixed assets | 21/28 | €11,726 | €3,273 | -€8,453 | -72.1% |
| Tangible fixed assets | 22/27 | €5,726 | €3,273 | -€2,453 | -42.8% |
| Plant, machinery and equipment | 23 | €758 | €502 | -€256 | -33.7% |
| Furniture and vehicles | 24 | €4,968 | €2,771 | -€2,197 | -44.2% |
| Financial fixed assets | 28 | €6,000 | €0 | -€6,000 | -100.0% |
| Current assets | 29/58 | €260,054 | €280,967 | +€20,912 | +8.0% |
| Amounts receivable after more than one year | 29 | €112,589 | €107,532 | -€5,057 | -4.5% |
| Other amounts receivable | 291 | €112,589 | €107,532 | -€5,057 | -4.5% |
| Amounts receivable within one year | 40/41 | €85,646 | €18,732 | -€66,914 | -78.1% |
| Trade receivables | 40 | €75,538 | €12,010 | -€63,527 | -84.1% |
| Other amounts receivable | 41 | €10,108 | €6,721 | -€3,387 | -33.5% |
| Cash at bank and in hand | 54/58 | €61,453 | €154,327 | +€92,875 | +151.1% |
| Deferred charges and accrued income | 490/1 | €367 | €375 | +€8 | +2.2% |
| Total equity and liabilities | 10/49 | €271,780 | €284,240 | +€12,459 | +4.6% |
| Equity | 10/15 | €239,664 | €198,911 | -€40,752 | -17.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €220,718 | €179,965 | -€40,752 | -18.5% |
| Distributable reserves | 133 | €220,718 | €179,965 | -€40,752 | -18.5% |
| Profit (loss) carried forward | 14 | €346 | €346 | = | 0.0% |
| Amounts payable | 17/49 | €32,117 | €85,328 | +€53,212 | +165.7% |
| Amounts payable within one year | 42/48 | €32,117 | €85,328 | +€53,212 | +165.7% |
| Trade debts | 44 | €259 | €976 | +€717 | +276.6% |
| Suppliers | 440/4 | €259 | €976 | +€717 | +276.6% |
| Taxes, remuneration and social security | 45 | €1,690 | €5,167 | +€3,477 | +205.8% |
| Taxes | 450/3 | €1,690 | €5,167 | +€3,477 | +205.8% |
| Other amounts payable | 47/48 | €30,168 | €79,185 | +€49,017 | +162.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,211 | €2,453 | +€242 | +10.9% |
| Other operating charges | 640/8 | €505 | €631 | +€125 | +24.8% |
| Gross operating margin | 9900 | €58,369 | -€34,337 | -€92,705 | |
| Operating profit (loss) | 9901 | €55,652 | -€37,420 | -€93,073 | |
| Financial income | 75/76B | €3,670 | €85,354 | +€81,684 | +2225.5% |
| Recurring financial income | 75 | €3,670 | €85,354 | +€81,684 | +2225.5% |
| Financial charges | 65/66B | €309 | €196 | -€113 | -36.6% |
| Recurring financial charges | 65 | €309 | €196 | -€113 | -36.6% |
| Profit (loss) for the period before taxes | 9903 | €59,013 | €47,738 | -€11,276 | -19.1% |
| Income taxes | 67/77 | €17,059 | €4,486 | -€12,573 | -73.7% |
| Profit (loss) for the period | 9904 | €41,954 | €43,251 | +€1,297 | +3.1% |
| Profit (loss) for the period to be appropriated | 9905 | €41,954 | €43,251 | +€1,297 | +3.1% |
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.