BOPAJO: 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.
BOPAJO
Largest movements
- Tangible fixed assets -€103,280
down €103,280 (-14.8%), from €696,281 to €593,002
of which Land and buildings: -€94,227
- Receivables within one year -€97,270
down €97,270 (-22.2%), from €438,136 to €340,866
of which Trade receivables: -€57,008
- Financial fixed assets -€20,000
down €20,000 (-9.8%), from €203,467 to €183,467
- Debts after one year -€112,367
down €112,367 (-20.4%), from €551,183 to €438,816
- Other debts -€60,958
down €60,958 (-17.7%), from €344,713 to €283,755
- Trade debts -€44,192
down €44,192 (-67.4%), from €65,578 to €21,386
- Tax, wage and social debts -€19,779
down €19,779 (-73.6%), from €26,860 to €7,081
of which Taxes: -€13,079
- Profit (loss) carried forward +€17,219
up €17,219 (+39.3%), from -€43,869 to -€26,650
- Gross operating margin +€139,198
up €139,198, from -€7,732 to €131,466
- Other operating charges +€45,138
up €45,138 (+2,177%), from €2,073 to €47,211
- Financial charges +€16,813
up €16,813 (+130%), from €12,893 to €29,706
- Financial income -€7,328
down €7,328 (-59.0%), from €12,426 to €5,098
- Taxes +€6,180
new in 2025: €6,180
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 | €1,419,785 | €1,199,946 | -€219,839 | -15.5% |
| Fixed assets | 21/28 | €899,749 | €776,469 | -€123,280 | -13.7% |
| Tangible fixed assets | 22/27 | €696,281 | €593,002 | -€103,280 | -14.8% |
| Land and buildings | 22 | €648,441 | €554,213 | -€94,227 | -14.5% |
| Plant, machinery and equipment | 23 | €38,195 | €32,458 | -€5,738 | -15.0% |
| Furniture and vehicles | 24 | €9,646 | €6,331 | -€3,315 | -34.4% |
| Financial fixed assets | 28 | €203,467 | €183,467 | -€20,000 | -9.8% |
| Current assets | 29/58 | €520,036 | €423,477 | -€96,560 | -18.6% |
| Amounts receivable within one year | 40/41 | €438,136 | €340,866 | -€97,270 | -22.2% |
| Trade receivables | 40 | €74,780 | €17,772 | -€57,008 | -76.2% |
| Other amounts receivable | 41 | €363,356 | €323,094 | -€40,262 | -11.1% |
| Cash at bank and in hand | 54/58 | €81,900 | €82,493 | +€593 | +0.7% |
| Deferred charges and accrued income | 490/1 | - | €118 | +€118 | |
| Total equity and liabilities | 10/49 | €1,419,785 | €1,199,946 | -€219,839 | -15.5% |
| Equity | 10/15 | €387,422 | €391,950 | +€4,528 | +1.2% |
| Contributions | 10/11 | €418,600 | €418,600 | = | 0.0% |
| Reserves | 13 | €12,690 | €0 | -€12,690 | -100% |
| Distributable reserves | 133 | €12,690 | €0 | -€12,690 | -100% |
| Profit (loss) carried forward | 14 | -€43,869 | -€26,650 | +€17,219 | +39.3% |
| Amounts payable | 17/49 | €1,032,363 | €807,996 | -€224,367 | -21.7% |
| Amounts payable after more than one year | 17 | €551,183 | €438,816 | -€112,367 | -20.4% |
| Financial debts | 170/4 | €551,183 | €438,816 | -€112,367 | -20.4% |
| Amounts payable within one year | 42/48 | €481,180 | €369,180 | -€112,001 | -23.3% |
| Current portion of amounts payable after more than one year | 42 | €44,029 | €56,958 | +€12,929 | +29.4% |
| Trade debts | 44 | €65,578 | €21,386 | -€44,192 | -67.4% |
| Suppliers | 440/4 | €65,578 | €21,386 | -€44,192 | -67.4% |
| Taxes, remuneration and social security | 45 | €26,860 | €7,081 | -€19,779 | -73.6% |
| Taxes | 450/3 | €20,160 | €7,081 | -€13,079 | -64.9% |
| Remuneration and social security | 454/9 | €6,700 | €0 | -€6,700 | -100% |
| Other amounts payable | 47/48 | €344,713 | €283,755 | -€60,958 | -17.7% |
| Non-recurring operating income | 76A | - | €31,174 | +€31,174 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,748 | €48,006 | -€4,742 | -9.0% |
| Other operating charges | 640/8 | €2,073 | €47,211 | +€45,138 | +2,177% |
| Non-recurring operating charges | 66A | - | €933 | +€933 | |
| Gross operating margin | 9900 | -€7,732 | €131,466 | +€139,198 | |
| Operating profit (loss) | 9901 | -€62,553 | €35,316 | +€97,869 | |
| Financial income | 75/76B | €12,426 | €5,098 | -€7,328 | -59.0% |
| Recurring financial income | 75 | €12,426 | €5,098 | -€7,328 | -59.0% |
| Financial charges | 65/66B | €12,893 | €29,706 | +€16,813 | +130% |
| Recurring financial charges | 65 | €12,893 | €29,706 | +€16,813 | +130% |
| Profit (loss) for the period before taxes | 9903 | -€63,020 | €10,708 | +€73,728 | |
| Income taxes | 67/77 | - | €6,180 | +€6,180 | |
| Profit (loss) for the period | 9904 | -€63,020 | €4,528 | +€67,548 | |
| Profit (loss) for the period to be appropriated | 9905 | -€63,020 | €4,528 | +€67,548 |
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 24 October 2026 via checked.be.