Bofort: 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.
What changed
Bofort
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€252,783
2024 · €194,868+€57,915
Equity
€195,101
2024 · €357,318-€162,217
Cash
€402,318
2024 · €47,935+€354,383
Balance sheet total
€1.6m
2024 · €2.2m-€556,250
Largest movements
Assets
- Receivables within one year -€908,228
down €908,228 (-45.7%), from €2.0m to €1.1m
of which Other amounts receivable: -€470,688
- Cash +€354,383
up €354,383 (+739%), from €47,935 to €402,318
mainly Receivables within one year (+€908,228) and Net result for the year (+€252,783)
Equity and liabilities
- Trade debts -€350,862
down €350,862 (-36.6%), from €958,875 to €608,013
- Reserves -€162,217
down €162,217 (-63.0%), from €257,318 to €95,101
of which Distributable reserves: -€162,217
- Accrued charges and deferred income -€110,438
no longer reported in 2025 (was €110,438)
- Other debts +€65,000
up €65,000 (+16.4%), from €396,601 to €461,601
Income statement
- Gross operating margin +€198,711
up €198,711 (+43.6%), from €455,675 to €654,386
- Staff costs +€75,621
up €75,621 (+46.0%), from €164,534 to €240,155
- Write-downs +€38,511
no longer reported in 2025 (was -€38,511)
- Taxes +€21,397
up €21,397 (+30.3%), from €70,705 to €92,102
- Financial charges +€6,553
up €6,553 (+57.6%), from €11,368 to €17,921
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.
Result 2024
€194,868
Gross operating margin
+€198,711
Staff costs
-€75,621
Depreciation
-€3,477
Write-downs
-€38,511
Provisions
+€614
Other operating charges
+€3,655
Financial income
+€494
Financial charges
-€6,553
Taxes
-€21,397
Result 2025
€252,783
raises the resultlowers the result
Derived cash bridge
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.
From operations
+€844,350
Investment
-€56,518
Financing
-€433,449
Cash 2024
€47,935
From operations (derived)
+€844,350
Net result for the year
+€252,783
Depreciation
+€47,038
Receivables within one year
+€908,228
Deferred charges and accrued income
+€11,884
Provisions
+€2,747
Trade debts
-€350,862
Tax, wage and social debts
+€17,971
Other debts
+€65,000
Accrued charges and deferred income
-€110,438
Investment (derived)
-€56,518
Investment in fixed assets (net)
-€56,518
Financing
-€433,449
Debts after one year
-€14,093
Current portion of long-term debt
-€4,357
Contributions, distributions and other
-€415,000
Cash 2025
€402,318
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,168,364 | €1,612,114 | -€556,250 | -25.7% |
| Fixed assets | 21/28 | €95,562 | €105,041 | +€9,479 | +9.9% |
| Intangible fixed assets | 21 | €20,566 | €30,911 | +€10,346 | +50.3% |
| Tangible fixed assets | 22/27 | €74,996 | €74,130 | -€866 | -1.2% |
| Land and buildings | 22 | €11,677 | €2,919 | -€8,757 | -75.0% |
| Plant, machinery and equipment | 23 | €8,881 | €6,780 | -€2,102 | -23.7% |
| Furniture and vehicles | 24 | €11,615 | €41,467 | +€29,852 | +257% |
| Leasing and similar rights | 25 | €36,029 | €17,722 | -€18,307 | -50.8% |
| Other tangible fixed assets | 26 | €6,794 | €5,241 | -€1,553 | -22.9% |
| Current assets | 29/58 | €2,072,802 | €1,507,073 | -€565,729 | -27.3% |
| Amounts receivable within one year | 40/41 | €1,989,382 | €1,081,154 | -€908,228 | -45.7% |
| Trade receivables | 40 | €871,338 | €433,798 | -€437,541 | -50.2% |
| Other amounts receivable | 41 | €1,118,044 | €647,356 | -€470,688 | -42.1% |
| Cash at bank and in hand | 54/58 | €47,935 | €402,318 | +€354,383 | +739% |
| Deferred charges and accrued income | 490/1 | €35,485 | €23,601 | -€11,884 | -33.5% |
| Total equity and liabilities | 10/49 | €2,168,364 | €1,612,114 | -€556,250 | -25.7% |
| Equity | 10/15 | €357,318 | €195,101 | -€162,217 | -45.4% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €257,318 | €95,101 | -€162,217 | -63.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €247,318 | €85,101 | -€162,217 | -65.6% |
| Provisions and deferred taxes | 16 | €88,365 | €91,112 | +€2,747 | +3.1% |
| Provisions for liabilities and charges | 160/5 | €88,365 | €91,112 | +€2,747 | +3.1% |
| Other liabilities and charges | 164/5 | €88,365 | €91,112 | +€2,747 | +3.1% |
| Amounts payable | 17/49 | €1,722,680 | €1,325,901 | -€396,779 | -23.0% |
| Amounts payable after more than one year | 17 | €17,594 | €3,502 | -€14,093 | -80.1% |
| Financial debts | 170/4 | €17,594 | €3,502 | -€14,093 | -80.1% |
| Amounts payable within one year | 42/48 | €1,594,648 | €1,322,399 | -€272,249 | -17.1% |
| Current portion of amounts payable after more than one year | 42 | €18,449 | €14,093 | -€4,357 | -23.6% |
| Financial debts | 43 | €200,000 | €200,000 | = | 0.0% |
| Credit institutions | 430/8 | €200,000 | €200,000 | = | 0.0% |
| Trade debts | 44 | €958,875 | €608,013 | -€350,862 | -36.6% |
| Suppliers | 440/4 | €958,875 | €608,013 | -€350,862 | -36.6% |
| Taxes, remuneration and social security | 45 | €20,723 | €38,693 | +€17,971 | +86.7% |
| Taxes | 450/3 | €2,867 | €1,843 | -€1,025 | -35.7% |
| Remuneration and social security | 454/9 | €17,855 | €36,850 | +€18,995 | +106% |
| Other amounts payable | 47/48 | €396,601 | €461,601 | +€65,000 | +16.4% |
| Accrued charges and deferred income | 492/3 | €110,438 | - | -€110,438 | |
| Non-recurring operating income | 76A | - | €17,114 | +€17,114 | |
| Remuneration, social security and pensions | 62 | €164,534 | €240,155 | +€75,621 | +46.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,562 | €47,038 | +€3,477 | +8.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€38,511 | - | +€38,511 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €3,360 | €2,747 | -€614 | -18.3% |
| Other operating charges | 640/8 | €6,811 | €3,156 | -€3,655 | -53.7% |
| Gross operating margin | 9900 | €455,675 | €654,386 | +€198,711 | +43.6% |
| Operating profit (loss) | 9901 | €275,918 | €361,290 | +€85,371 | +30.9% |
| Financial income | 75/76B | €1,023 | €1,517 | +€494 | +48.2% |
| Recurring financial income | 75 | €1,023 | €1,517 | +€494 | +48.2% |
| Financial charges | 65/66B | €11,368 | €17,921 | +€6,553 | +57.6% |
| Recurring financial charges | 65 | €11,368 | €17,921 | +€6,553 | +57.6% |
| Profit (loss) for the period before taxes | 9903 | €265,573 | €344,885 | +€79,312 | +29.9% |
| Income taxes | 67/77 | €70,705 | €92,102 | +€21,397 | +30.3% |
| Profit (loss) for the period | 9904 | €194,868 | €252,783 | +€57,915 | +29.7% |
| Profit (loss) for the period to be appropriated | 9905 | €194,868 | €252,783 | +€57,915 | +29.7% |
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 13 October 2026 via checked.be.