BOSPORUS: 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.
BOSPORUS
Largest movements
- Receivables within one year -€359,292
down €359,292 (-14.7%), from €2.4m to €2.1m
of which Trade receivables: -€274,304
- Deferred charges and accrued income -€195,181
down €195,181 (-70.1%), from €278,290 to €83,109
- Cash -€91,978
down €91,978 (-88.7%), from €103,743 to €11,765
mainly Short-term financial debts (-€418,100) and Trade debts (-€179,396)
- Stocks and contracts -€56,852
down €56,852 (-80.0%), from €71,102 to €14,250
- Short-term financial debts -€418,100
down €418,100 (-43.9%), from €953,329 to €535,229
- Trade debts -€179,396
down €179,396 (-18.5%), from €971,288 to €791,892
- Advances received -€114,873
no longer reported in 2025 (was €114,873)
- Debts after one year -€58,124
down €58,124 (-37.3%), from €155,798 to €97,674
- Tax, wage and social debts +€49,835
up €49,835 (+203%), from €24,536 to €74,371
of which Taxes: +€34,863
- Financial charges -€153,344
down €153,344 (-84.8%), from €180,923 to €27,579
- Gross operating margin -€150,752
down €150,752 (-28.4%), from €530,838 to €380,086
- Staff costs +€108,464
up €108,464 (+51.7%), from €209,766 to €318,229
- Taxes -€25,572
no longer reported in 2025 (was €25,572)
- Financial income +€24,741
up €24,741 (+128%), from €19,357 to €44,098
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 | €2,960,153 | €2,248,815 | -€711,338 | -24.0% |
| Fixed assets | 21/28 | €60,789 | €52,754 | -€8,035 | -13.2% |
| Tangible fixed assets | 22/27 | €60,789 | €52,754 | -€8,035 | -13.2% |
| Plant, machinery and equipment | 23 | €29,178 | €23,046 | -€6,132 | -21.0% |
| Furniture and vehicles | 24 | €31,611 | €29,708 | -€1,903 | -6.0% |
| Current assets | 29/58 | €2,899,364 | €2,196,061 | -€703,303 | -24.3% |
| Stocks and contracts in progress | 3 | €71,102 | €14,250 | -€56,852 | -80.0% |
| Stocks | 30/36 | €71,102 | €14,250 | -€56,852 | -80.0% |
| Amounts receivable within one year | 40/41 | €2,446,229 | €2,086,936 | -€359,292 | -14.7% |
| Trade receivables | 40 | €2,151,228 | €1,876,924 | -€274,304 | -12.8% |
| Other amounts receivable | 41 | €295,001 | €210,012 | -€84,989 | -28.8% |
| Cash at bank and in hand | 54/58 | €103,743 | €11,765 | -€91,978 | -88.7% |
| Deferred charges and accrued income | 490/1 | €278,290 | €83,109 | -€195,181 | -70.1% |
| Total equity and liabilities | 10/49 | €2,960,153 | €2,248,815 | -€711,338 | -24.0% |
| Equity | 10/15 | €682,826 | €709,648 | +€26,822 | +3.9% |
| Contributions | 10/11 | €236,900 | €236,900 | = | 0.0% |
| Reserves | 13 | €298,300 | €298,300 | = | 0.0% |
| Non-distributable reserves | 130/1 | €298,300 | €298,300 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,300 | €12,300 | = | 0.0% |
| Other | 1319 | €286,000 | €286,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €147,626 | €174,448 | +€26,822 | +18.2% |
| Amounts payable | 17/49 | €2,277,327 | €1,539,167 | -€738,160 | -32.4% |
| Amounts payable after more than one year | 17 | €155,798 | €97,674 | -€58,124 | -37.3% |
| Financial debts | 170/4 | €155,798 | €97,674 | -€58,124 | -37.3% |
| Amounts payable within one year | 42/48 | €2,121,530 | €1,441,493 | -€680,037 | -32.1% |
| Current portion of amounts payable after more than one year | 42 | €40,000 | €40,000 | = | 0.0% |
| Financial debts | 43 | €953,329 | €535,229 | -€418,100 | -43.9% |
| Credit institutions | 430/8 | €953,329 | €535,229 | -€418,100 | -43.9% |
| Trade debts | 44 | €971,288 | €791,892 | -€179,396 | -18.5% |
| Suppliers | 440/4 | €971,288 | €791,892 | -€179,396 | -18.5% |
| Advances received on contracts in progress | 46 | €114,873 | - | -€114,873 | |
| Taxes, remuneration and social security | 45 | €24,536 | €74,371 | +€49,835 | +203% |
| Taxes | 450/3 | €24,536 | €59,399 | +€34,863 | +142% |
| Remuneration and social security | 454/9 | €0 | €14,972 | +€14,972 | |
| Other amounts payable | 47/48 | €17,503 | - | -€17,503 | |
| Remuneration, social security and pensions | 62 | €209,766 | €318,229 | +€108,464 | +51.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,037 | €25,943 | +€5,906 | +29.5% |
| Other operating charges | 640/8 | €21,992 | €25,610 | +€3,618 | +16.4% |
| Gross operating margin | 9900 | €530,838 | €380,086 | -€150,752 | -28.4% |
| Operating profit (loss) | 9901 | €279,043 | €10,303 | -€268,740 | -96.3% |
| Financial income | 75/76B | €19,357 | €44,098 | +€24,741 | +128% |
| Recurring financial income | 75 | €19,357 | €44,098 | +€24,741 | +128% |
| Financial charges | 65/66B | €180,923 | €27,579 | -€153,344 | -84.8% |
| Recurring financial charges | 65 | €180,923 | €27,579 | -€153,344 | -84.8% |
| Profit (loss) for the period before taxes | 9903 | €117,477 | €26,822 | -€90,655 | -77.2% |
| Income taxes | 67/77 | €25,572 | - | -€25,572 | |
| Profit (loss) for the period | 9904 | €91,905 | €26,822 | -€65,083 | -70.8% |
| Profit (loss) for the period to be appropriated | 9905 | €91,905 | €26,822 | -€65,083 | -70.8% |
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 1 November 2026 via checked.be.