BOVAGE: 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.
BOVAGE
Largest movements
- Cash +€14,052
up €14,052 (+517.6%), from €2,715 to €16,767
mainly Net result for the year (+€9,384) and Depreciation (+€3,949)
- Tangible fixed assets -€3,949
down €3,949 (-6.9%), from €57,214 to €53,264
of which Land and buildings: -€3,949
- Profit (loss) carried forward +€9,384
up €9,384 (+3.8%), from -€248,066 to -€238,683
- Other debts +€2,719
up €2,719 (+751.8%), from €362 to €3,081
- Debts after one year -€2,000
down €2,000 (-3.0%), from €66,000 to €64,000
- Gross operating margin -€2,110
down €2,110 (-12.0%), from €17,576 to €15,466
- Depreciation -€969
down €969 (-19.7%), from €4,919 to €3,949
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.
Cash bridge derived
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 | €59,946 | €70,049 | +€10,103 | +16.9% |
| Fixed assets | 21/28 | €57,231 | €53,282 | -€3,949 | -6.9% |
| Tangible fixed assets | 22/27 | €57,214 | €53,264 | -€3,949 | -6.9% |
| Land and buildings | 22 | €57,214 | €53,264 | -€3,949 | -6.9% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Financial fixed assets | 28 | €17 | €17 | = | 0.0% |
| Current assets | 29/58 | €2,715 | €16,767 | +€14,052 | +517.6% |
| Cash at bank and in hand | 54/58 | €2,715 | €16,767 | +€14,052 | +517.6% |
| Total equity and liabilities | 10/49 | €59,946 | €70,049 | +€10,103 | +16.9% |
| Equity | 10/15 | -€6,416 | €2,968 | +€9,384 | |
| Contributions | 10/11 | €123,947 | €123,947 | = | 0.0% |
| Revaluation surpluses | 12 | €117,704 | €117,704 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€248,066 | -€238,683 | +€9,384 | +3.8% |
| Amounts payable | 17/49 | €66,362 | €67,081 | +€719 | +1.1% |
| Amounts payable after more than one year | 17 | €66,000 | €64,000 | -€2,000 | -3.0% |
| Other amounts payable | 178/9 | €66,000 | €64,000 | -€2,000 | -3.0% |
| Amounts payable within one year | 42/48 | €362 | €3,081 | +€2,719 | +751.8% |
| Other amounts payable | 47/48 | €362 | €3,081 | +€2,719 | +751.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,919 | €3,949 | -€969 | -19.7% |
| Other operating charges | 640/8 | €1,749 | €1,888 | +€139 | +8.0% |
| Gross operating margin | 9900 | €17,576 | €15,466 | -€2,110 | -12.0% |
| Operating profit (loss) | 9901 | €10,908 | €9,629 | -€1,280 | -11.7% |
| Financial charges | 65/66B | €167 | €245 | +€78 | +46.9% |
| Recurring financial charges | 65 | €167 | €245 | +€78 | +46.9% |
| Profit (loss) for the period before taxes | 9903 | €10,742 | €9,384 | -€1,358 | -12.6% |
| Profit (loss) for the period | 9904 | €10,742 | €9,384 | -€1,358 | -12.6% |
| Profit (loss) for the period to be appropriated | 9905 | €10,742 | €9,384 | -€1,358 | -12.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.