BOLIVER: 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.
BOLIVER
Largest movements
- Tangible fixed assets +€39,926
up €39,926 (+11.3%), from €352,119 to €392,045
of which Furniture and vehicles: +€47,637
- Receivables within one year +€5,949
up €5,949 (+335.5%), from €1,773 to €7,722
of which Trade receivables: +€3,717
- Cash +€5,864
up €5,864 (+9.0%), from €65,465 to €71,329
mainly Net result for the year (+€29,607) and Debts after one year (+€26,340)
- Debts after one year +€26,340
up €26,340 (+19.7%), from €133,984 to €160,324
of which Financial debts: +€26,340
- Reserves +€17,107
up €17,107 (+8.8%), from €195,367 to €212,474
of which Distributable reserves: +€20,200
- Current portion of long-term debt +€12,192
up €12,192 (+128.1%), from €9,514 to €21,706
- Gross operating margin -€8,067
down €8,067 (-10.4%), from €77,219 to €69,152
- Depreciation +€3,737
up €3,737 (+26.1%), from €14,337 to €18,074
- Taxes -€3,669
down €3,669 (-18.4%), from €19,906 to €16,237
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 | €424,897 | €478,293 | +€53,396 | +12.6% |
| Fixed assets | 21/28 | €353,919 | €393,845 | +€39,926 | +11.3% |
| Tangible fixed assets | 22/27 | €352,119 | €392,045 | +€39,926 | +11.3% |
| Land and buildings | 22 | €340,816 | €331,120 | -€9,696 | -2.8% |
| Plant, machinery and equipment | 23 | €69 | - | -€69 | |
| Furniture and vehicles | 24 | - | €47,637 | +€47,637 | |
| Other tangible fixed assets | 26 | €11,234 | €13,288 | +€2,054 | +18.3% |
| Financial fixed assets | 28 | €1,800 | €1,800 | = | 0.0% |
| Current assets | 29/58 | €70,978 | €84,448 | +€13,470 | +19.0% |
| Amounts receivable within one year | 40/41 | €1,773 | €7,722 | +€5,949 | +335.5% |
| Trade receivables | 40 | €832 | €4,549 | +€3,717 | +446.8% |
| Other amounts receivable | 41 | €941 | €3,173 | +€2,232 | +237.2% |
| Cash at bank and in hand | 54/58 | €65,465 | €71,329 | +€5,864 | +9.0% |
| Deferred charges and accrued income | 490/1 | €3,740 | €5,397 | +€1,657 | +44.3% |
| Total equity and liabilities | 10/49 | €424,897 | €478,293 | +€53,396 | +12.6% |
| Equity | 10/15 | €215,367 | €232,474 | +€17,107 | +7.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €195,367 | €212,474 | +€17,107 | +8.8% |
| Tax-exempt reserves | 132 | €76,829 | €73,736 | -€3,093 | -4.0% |
| Distributable reserves | 133 | €118,538 | €138,738 | +€20,200 | +17.0% |
| Provisions and deferred taxes | 16 | €39,561 | €37,968 | -€1,593 | -4.0% |
| Deferred taxes | 168 | €39,561 | €37,968 | -€1,593 | -4.0% |
| Amounts payable | 17/49 | €169,969 | €207,851 | +€37,882 | +22.3% |
| Amounts payable after more than one year | 17 | €133,984 | €160,324 | +€26,340 | +19.7% |
| Financial debts | 170/4 | €83,984 | €110,324 | +€26,340 | +31.4% |
| Other amounts payable | 178/9 | €50,000 | €50,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €33,476 | €45,785 | +€12,309 | +36.8% |
| Current portion of amounts payable after more than one year | 42 | €9,514 | €21,706 | +€12,192 | +128.1% |
| Trade debts | 44 | €8,411 | €12,368 | +€3,957 | +47.0% |
| Suppliers | 440/4 | €8,411 | €12,368 | +€3,957 | +47.0% |
| Advances received on contracts in progress | 46 | €158 | €143 | -€15 | -9.5% |
| Taxes, remuneration and social security | 45 | €7,509 | €4,584 | -€2,925 | -39.0% |
| Taxes | 450/3 | €7,509 | €4,584 | -€2,925 | -39.0% |
| Other amounts payable | 47/48 | €7,884 | €6,984 | -€900 | -11.4% |
| Accrued charges and deferred income | 492/3 | €2,509 | €1,742 | -€767 | -30.6% |
| Non-recurring operating income | 76A | - | €826 | +€826 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,337 | €18,074 | +€3,737 | +26.1% |
| Other operating charges | 640/8 | €3,056 | €2,973 | -€83 | -2.7% |
| Gross operating margin | 9900 | €77,219 | €69,152 | -€8,067 | -10.4% |
| Operating profit (loss) | 9901 | €59,826 | €48,105 | -€11,721 | -19.6% |
| Financial income | 75/76B | €88 | €557 | +€469 | +533.0% |
| Recurring financial income | 75 | €88 | €557 | +€469 | +533.0% |
| Financial charges | 65/66B | €4,298 | €4,411 | +€113 | +2.6% |
| Recurring financial charges | 65 | €4,298 | €4,411 | +€113 | +2.6% |
| Profit (loss) for the period before taxes | 9903 | €55,616 | €44,251 | -€11,365 | -20.4% |
| Transfer from deferred taxes | 780 | €1,593 | €1,593 | = | 0.0% |
| Income taxes | 67/77 | €19,906 | €16,237 | -€3,669 | -18.4% |
| Profit (loss) for the period | 9904 | €37,303 | €29,607 | -€7,696 | -20.6% |
| Transfer from tax-exempt reserves | 789 | €3,094 | €3,093 | -€1 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €40,397 | €32,700 | -€7,697 | -19.1% |
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.