BOProjects: 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.
BOProjects
Largest movements
- Stocks and contracts +€2.1m
up €2.1m (+558%), from €382,656 to €2.5m
- Cash +€173,214
up €173,214 (+62.3%), from €277,924 to €451,138
mainly Debts after one year (+€1.6m) and Trade debts (+€486,758)
- Receivables within one year +€130,063
up €130,063 (+25.1%), from €518,574 to €648,637
of which Other amounts receivable: +€114,655
- Tangible fixed assets -€82,995
down €82,995 (-8.9%), from €937,196 to €854,201
- Debts after one year +€1.6m
up €1.6m (+169%), from €957,936 to €2.6m
of which Other amounts payable: +€1.7m
- Trade debts +€486,758
up €486,758 (+371%), from €131,048 to €617,806
- Short-term financial debts +€178,500
new in 2025: €178,500
- Gross operating margin -€38,553
down €38,553 (-10.0%), from €384,546 to €345,993
- Taxes +€28,903
up €28,903 (+62.2%), from €46,440 to €75,343
- Financial charges -€21,973
down €21,973 (-24.4%), from €90,062 to €68,089
- Staff costs -€4,689
down €4,689 (-8.4%), from €56,052 to €51,363
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 | €2,116,350 | €4,470,213 | +€2.4m | +111% |
| Fixed assets | 21/28 | €937,196 | €854,201 | -€82,995 | -8.9% |
| Tangible fixed assets | 22/27 | €937,196 | €854,201 | -€82,995 | -8.9% |
| Land and buildings | 22 | €826,609 | €787,631 | -€38,979 | -4.7% |
| Plant, machinery and equipment | 23 | €69,192 | €41,100 | -€28,092 | -40.6% |
| Furniture and vehicles | 24 | €41,394 | €25,471 | -€15,924 | -38.5% |
| Current assets | 29/58 | €1,179,154 | €3,616,012 | +€2.4m | +207% |
| Stocks and contracts in progress | 3 | €382,656 | €2,516,237 | +€2.1m | +558% |
| Stocks | 30/36 | €382,656 | €2,516,237 | +€2.1m | +558% |
| Amounts receivable within one year | 40/41 | €518,574 | €648,637 | +€130,063 | +25.1% |
| Trade receivables | 40 | €53,430 | €68,838 | +€15,407 | +28.8% |
| Other amounts receivable | 41 | €465,144 | €579,800 | +€114,655 | +24.6% |
| Cash at bank and in hand | 54/58 | €277,924 | €451,138 | +€173,214 | +62.3% |
| Total equity and liabilities | 10/49 | €2,116,350 | €4,470,213 | +€2.4m | +111% |
| Equity | 10/15 | €856,163 | €898,352 | +€42,189 | +4.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €837,563 | €879,752 | +€42,189 | +5.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €835,703 | €877,892 | +€42,189 | +5.0% |
| Amounts payable | 17/49 | €1,260,187 | €3,571,861 | +€2.3m | +183% |
| Amounts payable after more than one year | 17 | €957,936 | €2,578,454 | +€1.6m | +169% |
| Financial debts | 170/4 | €833,836 | €778,454 | -€55,382 | -6.6% |
| Other amounts payable | 178/9 | €124,100 | €1,800,000 | +€1.7m | +1,350% |
| Amounts payable within one year | 42/48 | €300,231 | €978,406 | +€678,175 | +226% |
| Current portion of amounts payable after more than one year | 42 | €54,807 | €55,382 | +€575 | +1.0% |
| Financial debts | 43 | - | €178,500 | +€178,500 | |
| Credit institutions | 430/8 | - | €178,500 | +€178,500 | |
| Trade debts | 44 | €131,048 | €617,806 | +€486,758 | +371% |
| Suppliers | 440/4 | €131,048 | €617,806 | +€486,758 | +371% |
| Taxes, remuneration and social security | 45 | €57,544 | €66,436 | +€8,892 | +15.5% |
| Taxes | 450/3 | €27,440 | €64,462 | +€37,023 | +135% |
| Remuneration and social security | 454/9 | €30,105 | €1,974 | -€28,131 | -93.4% |
| Other amounts payable | 47/48 | €56,831 | €60,282 | +€3,451 | +6.1% |
| Accrued charges and deferred income | 492/3 | €2,019 | €15,000 | +€12,981 | +643% |
| Non-recurring operating income | 76A | €2,849 | - | -€2,849 | |
| Remuneration, social security and pensions | 62 | €56,052 | €51,363 | -€4,689 | -8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,051 | €87,730 | +€1,679 | +2.0% |
| Other operating charges | 640/8 | €14,994 | €15,750 | +€757 | +5.0% |
| Gross operating margin | 9900 | €384,546 | €345,993 | -€38,553 | -10.0% |
| Operating profit (loss) | 9901 | €227,448 | €191,149 | -€36,299 | -16.0% |
| Financial income | 75/76B | €6,006 | €4,472 | -€1,534 | -25.5% |
| Recurring financial income | 75 | €6,006 | €4,472 | -€1,534 | -25.5% |
| Financial charges | 65/66B | €90,062 | €68,089 | -€21,973 | -24.4% |
| Recurring financial charges | 65 | €90,062 | €68,089 | -€21,973 | -24.4% |
| Profit (loss) for the period before taxes | 9903 | €143,392 | €127,532 | -€15,860 | -11.1% |
| Income taxes | 67/77 | €46,440 | €75,343 | +€28,903 | +62.2% |
| Profit (loss) for the period | 9904 | €96,952 | €52,189 | -€44,763 | -46.2% |
| Profit (loss) for the period to be appropriated | 9905 | €96,952 | €52,189 | -€44,763 | -46.2% |
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 25 October 2026 via checked.be.