BOPA: 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.
BOPA
Largest movements
- Receivables within one year -€30,450
down €30,450 (-28.0%), from €108,566 to €78,117
of which Trade receivables: -€43,468
- Intangible fixed assets -€10,886
down €10,886 (-33.6%), from €32,396 to €21,510
- Financial fixed assets +€3,750
up €3,750 (+67.4%), from €5,568 to €9,318
- Cash -€1,880
down €1,880 (-12.4%), from €15,210 to €13,329
mainly Trade debts (-€40,710) and Other debts (-€20,000)
- Trade debts -€40,710
down €40,710 (-70.5%), from €57,744 to €17,033
- Other debts -€20,000
down €20,000 (-91.4%), from €21,890 to €1,890
- Advances received +€19,414
new in 2025: €19,414
- Gross operating margin -€1,698
down €1,698 (-9.3%), from €18,243 to €16,546
- Other operating charges +€953
up €953 (+34.7%), from €2,748 to €3,701
- Depreciation -€661
down €661 (-5.7%), from €11,547 to €10,886
- Taxes +€423
new in 2025: €423
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €163,792 | €123,525 | -€40,266 | -24.6% |
| Fixed assets | 21/28 | €37,963 | €30,827 | -€7,136 | -18.8% |
| Intangible fixed assets | 21 | €32,396 | €21,510 | -€10,886 | -33.6% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €5,568 | €9,318 | +€3,750 | +67.4% |
| Current assets | 29/58 | €125,828 | €92,698 | -€33,130 | -26.3% |
| Stocks and contracts in progress | 3 | €750 | €750 | = | 0.0% |
| Stocks | 30/36 | €750 | €750 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €108,566 | €78,117 | -€30,450 | -28.0% |
| Trade receivables | 40 | €104,902 | €61,435 | -€43,468 | -41.4% |
| Other amounts receivable | 41 | €3,664 | €16,682 | +€13,018 | +355% |
| Cash at bank and in hand | 54/58 | €15,210 | €13,329 | -€1,880 | -12.4% |
| Deferred charges and accrued income | 490/1 | €1,302 | €502 | -€800 | -61.5% |
| Total equity and liabilities | 10/49 | €163,792 | €123,525 | -€40,266 | -24.6% |
| Equity | 10/15 | €83,466 | €84,530 | +€1,064 | +1.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €77,270 | €77,270 | = | 0.0% |
| Tax-exempt reserves | 132 | €12,067 | €12,067 | = | 0.0% |
| Distributable reserves | 133 | €65,203 | €65,203 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4 | €1,060 | +€1,064 | |
| Amounts payable | 17/49 | €80,325 | €38,995 | -€41,330 | -51.5% |
| Amounts payable within one year | 42/48 | €79,746 | €38,873 | -€40,873 | -51.3% |
| Trade debts | 44 | €57,744 | €17,033 | -€40,710 | -70.5% |
| Suppliers | 440/4 | €57,744 | €17,033 | -€40,710 | -70.5% |
| Advances received on contracts in progress | 46 | - | €19,414 | +€19,414 | |
| Taxes, remuneration and social security | 45 | €113 | €536 | +€423 | +375% |
| Taxes | 450/3 | €113 | €536 | +€423 | +375% |
| Other amounts payable | 47/48 | €21,890 | €1,890 | -€20,000 | -91.4% |
| Accrued charges and deferred income | 492/3 | €580 | €123 | -€457 | -78.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,547 | €10,886 | -€661 | -5.7% |
| Other operating charges | 640/8 | €2,748 | €3,701 | +€953 | +34.7% |
| Gross operating margin | 9900 | €18,243 | €16,546 | -€1,698 | -9.3% |
| Operating profit (loss) | 9901 | €3,948 | €1,959 | -€1,990 | -50.4% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €494 | €472 | -€22 | -4.4% |
| Recurring financial charges | 65 | €494 | €472 | -€22 | -4.4% |
| Profit (loss) for the period before taxes | 9903 | €3,456 | €1,487 | -€1,969 | -57.0% |
| Income taxes | 67/77 | - | €423 | +€423 | |
| Profit (loss) for the period | 9904 | €3,456 | €1,064 | -€2,392 | -69.2% |
| Profit (loss) for the period to be appropriated | 9905 | €3,456 | €1,064 | -€2,392 | -69.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.