BOPAT: 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.
BOPAT
Largest movements
- Tangible fixed assets -€52,773
down €52,773 (-5.9%), from €896,844 to €844,071
of which Land and buildings: -€31,408
- Other debts -€67,966
down €67,966 (-4.8%), from €1.4m to €1.4m
- Gross operating margin +€71,187
up €71,187 (+334.5%), from €21,283 to €92,469
- Financial income -€12,983
down €12,983 (-66.7%), from €19,455 to €6,472
- Other operating charges -€11,659
down €11,659 (-75.7%), from €15,406 to €3,747
- Depreciation +€10,660
up €10,660 (+25.7%), from €41,456 to €52,116
- Financial charges -€8,992
down €8,992 (-24.6%), from €36,501 to €27,509
of which Financial charges: -€8,992
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,639,416 | €1,569,229 | -€70,188 | -4.3% |
| Fixed assets | 21/28 | €1,530,862 | €1,478,089 | -€52,773 | -3.4% |
| Tangible fixed assets | 22/27 | €896,844 | €844,071 | -€52,773 | -5.9% |
| Land and buildings | 22 | €822,948 | €791,540 | -€31,408 | -3.8% |
| Plant, machinery and equipment | 23 | €3,574 | €2,009 | -€1,565 | -43.8% |
| Furniture and vehicles | 24 | €70,322 | €50,522 | -€19,800 | -28.2% |
| Financial fixed assets | 28 | €634,018 | €634,018 | = | 0.0% |
| Current assets | 29/58 | €108,554 | €91,140 | -€17,414 | -16.0% |
| Amounts receivable within one year | 40/41 | €91,462 | €85,406 | -€6,056 | -6.6% |
| Trade receivables | 40 | €2,532 | €2,733 | +€201 | +7.9% |
| Other amounts receivable | 41 | €88,930 | €82,673 | -€6,257 | -7.0% |
| Cash at bank and in hand | 54/58 | €15,003 | €3,580 | -€11,423 | -76.1% |
| Deferred charges and accrued income | 490/1 | €2,089 | €2,154 | +€65 | +3.1% |
| Total equity and liabilities | 10/49 | €1,639,416 | €1,569,229 | -€70,188 | -4.3% |
| Equity | 10/15 | €1,660 | €16,304 | +€14,644 | +882.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,340 | -€5,696 | +€14,644 | +72.0% |
| Amounts payable | 17/49 | €1,637,756 | €1,552,925 | -€84,832 | -5.2% |
| Amounts payable after more than one year | 17 | €191,048 | €178,994 | -€12,054 | -6.3% |
| Financial debts | 170/4 | €191,048 | €178,994 | -€12,054 | -6.3% |
| Amounts payable within one year | 42/48 | €1,446,618 | €1,373,807 | -€72,811 | -5.0% |
| Current portion of amounts payable after more than one year | 42 | €11,571 | €12,054 | +€483 | +4.2% |
| Trade debts | 44 | €3,078 | €624 | -€2,455 | -79.7% |
| Suppliers | 440/4 | €3,078 | €624 | -€2,455 | -79.7% |
| Taxes, remuneration and social security | 45 | €2,873 | €0 | -€2,873 | -100.0% |
| Taxes | 450/3 | €2,873 | €0 | -€2,873 | -100.0% |
| Other amounts payable | 47/48 | €1,429,095 | €1,361,129 | -€67,966 | -4.8% |
| Accrued charges and deferred income | 492/3 | €90 | €123 | +€34 | +37.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,456 | €52,116 | +€10,660 | +25.7% |
| Other operating charges | 640/8 | €15,406 | €3,747 | -€11,659 | -75.7% |
| Non-recurring operating charges | 66A | €7,252 | €925 | -€6,327 | -87.2% |
| Gross operating margin | 9900 | €21,283 | €92,469 | +€71,187 | +334.5% |
| Operating profit (loss) | 9901 | -€42,832 | €35,681 | +€78,513 | |
| Financial income | 75/76B | €19,455 | €6,472 | -€12,983 | -66.7% |
| Recurring financial income | 75 | €19,455 | €6,472 | -€12,983 | -66.7% |
| Financial charges | 65/66B | €36,501 | €27,509 | -€8,992 | -24.6% |
| Recurring financial charges | 65 | €36,501 | €27,509 | -€8,992 | -24.6% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | -€59,878 | €14,644 | +€74,521 | |
| Income taxes | 67/77 | €463 | €0 | -€463 | -100.0% |
| Profit (loss) for the period | 9904 | -€60,340 | €14,644 | +€74,984 | |
| Profit (loss) for the period to be appropriated | 9905 | -€60,340 | €14,644 | +€74,984 |
Source: filed annual accounts (NBB), fiscal years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.