BOFRESH: 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.
BOFRESH
Largest movements
- Receivables within one year +€327,720
up €327,720 (+46.4%), from €706,166 to €1.0m
of which Trade receivables: +€326,321
- Cash +€186,888
up €186,888 (+131.7%), from €141,861 to €328,749
mainly Net result for the year (+€265,045) and Trade debts (+€172,642)
- Intangible fixed assets -€30,148
down €30,148 (-15.8%), from €190,911 to €160,764
- Reserves +€265,045
up €265,045 (+142.8%), from €185,569 to €450,614
- Trade debts +€172,642
up €172,642 (+21.1%), from €817,671 to €990,313
- Tax, wage and social debts +€112,994
up €112,994 (+172.9%), from €65,342 to €178,336
of which Remuneration and social security: +€62,761
- Debts after one year -€39,966
down €39,966 (-31.0%), from €128,943 to €88,978
- Turnover +€8.7m
new in 2025: €8.7m
- Purchases and services +€7.5m
new in 2025: €7.5m
- Gross operating margin +€367,802
up €367,802 (+43.2%), from €850,973 to €1.2m
- Staff costs +€186,066
up €186,066 (+32.5%), from €573,070 to €759,136
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 | €1,297,367 | €1,809,705 | +€512,339 | +39.5% |
| Fixed assets | 21/28 | €374,354 | €353,804 | -€20,550 | -5.5% |
| Intangible fixed assets | 21 | €190,911 | €160,764 | -€30,148 | -15.8% |
| Tangible fixed assets | 22/27 | €182,743 | €193,040 | +€10,297 | +5.6% |
| Plant, machinery and equipment | 23 | €32,041 | €25,960 | -€6,081 | -19.0% |
| Furniture and vehicles | 24 | €24,559 | €14,610 | -€9,949 | -40.5% |
| Other tangible fixed assets | 26 | €126,143 | €152,470 | +€26,327 | +20.9% |
| Financial fixed assets | 28 | €700 | - | -€700 | |
| Current assets | 29/58 | €923,013 | €1,455,902 | +€532,889 | +57.7% |
| Stocks and contracts in progress | 3 | €70,561 | €85,476 | +€14,916 | +21.1% |
| Stocks | 30/36 | €70,561 | €85,476 | +€14,916 | +21.1% |
| Amounts receivable within one year | 40/41 | €706,166 | €1,033,886 | +€327,720 | +46.4% |
| Trade receivables | 40 | €699,129 | €1,025,450 | +€326,321 | +46.7% |
| Other amounts receivable | 41 | €7,036 | €8,436 | +€1,400 | +19.9% |
| Cash at bank and in hand | 54/58 | €141,861 | €328,749 | +€186,888 | +131.7% |
| Deferred charges and accrued income | 490/1 | €4,425 | €7,791 | +€3,366 | +76.1% |
| Total equity and liabilities | 10/49 | €1,297,367 | €1,809,705 | +€512,339 | +39.5% |
| Equity | 10/15 | €247,069 | €512,114 | +€265,045 | +107.3% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €185,569 | €450,614 | +€265,045 | +142.8% |
| Distributable reserves | 133 | €185,569 | €450,614 | +€265,045 | +142.8% |
| Amounts payable | 17/49 | €1,050,298 | €1,297,592 | +€247,294 | +23.5% |
| Amounts payable after more than one year | 17 | €128,943 | €88,978 | -€39,966 | -31.0% |
| Financial debts | 170/4 | €128,943 | €88,978 | -€39,966 | -31.0% |
| Amounts payable within one year | 42/48 | €921,355 | €1,208,614 | +€287,259 | +31.2% |
| Current portion of amounts payable after more than one year | 42 | €38,341 | €39,966 | +€1,624 | +4.2% |
| Trade debts | 44 | €817,671 | €990,313 | +€172,642 | +21.1% |
| Suppliers | 440/4 | €817,671 | €990,313 | +€172,642 | +21.1% |
| Taxes, remuneration and social security | 45 | €65,342 | €178,336 | +€112,994 | +172.9% |
| Taxes | 450/3 | - | €50,232 | +€50,232 | |
| Remuneration and social security | 454/9 | €65,342 | €128,104 | +€62,761 | +96.1% |
| Turnover | 70 | - | €8,687,084 | +€8.7m | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €7,505,230 | +€7.5m | |
| Remuneration, social security and pensions | 62 | €573,070 | €759,136 | +€186,066 | +32.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,098 | €68,134 | +€7,036 | +11.5% |
| Other operating charges | 640/8 | €6,984 | €21,810 | +€14,827 | +212.3% |
| Non-recurring operating charges | 66A | €3,706 | €229 | -€3,477 | -93.8% |
| Gross operating margin | 9900 | €850,973 | €1,218,775 | +€367,802 | +43.2% |
| Operating profit (loss) | 9901 | €206,115 | €369,466 | +€163,351 | +79.3% |
| Financial income | 75/76B | €1,703 | €3,510 | +€1,806 | +106.0% |
| Recurring financial income | 75 | €1,703 | €3,510 | +€1,806 | +106.0% |
| Financial charges | 65/66B | €11,654 | €10,428 | -€1,226 | -10.5% |
| Recurring financial charges | 65 | €11,654 | €10,428 | -€1,226 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | €196,165 | €362,548 | +€166,383 | +84.8% |
| Income taxes | 67/77 | €53,590 | €97,503 | +€43,913 | +81.9% |
| Profit (loss) for the period | 9904 | €142,574 | €265,045 | +€122,470 | +85.9% |
| Profit (loss) for the period to be appropriated | 9905 | €142,574 | €265,045 | +€122,470 | +85.9% |
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 7 October 2026 via checked.be.