BOVAGRI: what changed
BOVAGRI
Largest movements
- Receivables within one year -€20,003
down €20,003 (-68.3%), from €29,280 to €9,278
of which Trade receivables: -€21,740
- Cash +€19,859
up €19,859 (+22.0%), from €90,240 to €110,100
mainly Net result for the year (+€20,143) and Receivables within one year (+€20,003)
- Tangible fixed assets -€10,257
down €10,257 (-22.1%), from €46,373 to €36,116
of which Furniture and vehicles: -€12,279
- Reserves +€25,000
up €25,000 (+24.5%), from €101,860 to €126,860
of which Distributable reserves: +€25,000
- Tax, wage and social debts -€14,412
down €14,412 (-49.5%), from €29,120 to €14,707
of which Remuneration and social security: -€9,254
- Debts after one year -€9,512
down €9,512 (-25.8%), from €36,925 to €27,413
- Profit (loss) carried forward -€4,857
down €4,857 (-55.4%), from €8,769 to €3,912
- Trade debts -€3,110
down €3,110 (-9.1%), from €34,304 to €31,194
- Staff costs -€13,184
down €13,184 (-13.7%), from €96,095 to €82,911
- Gross operating margin -€11,766
down €11,766 (-8.2%), from €142,669 to €130,903
- Taxes +€1,489
up €1,489 (+18.2%), from €8,181 to €9,670
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €222,667 | €214,213 | -€8,453 | -3.8% |
| Fixed assets | 21/28 | €46,541 | €36,284 | -€10,257 | -22.0% |
| Tangible fixed assets | 22/27 | €46,373 | €36,116 | -€10,257 | -22.1% |
| Plant, machinery and equipment | 23 | €1,899 | €3,921 | +€2,022 | +106% |
| Furniture and vehicles | 24 | €44,474 | €32,195 | -€12,279 | -27.6% |
| Financial fixed assets | 28 | €168 | €168 | = | 0.0% |
| Current assets | 29/58 | €176,126 | €177,930 | +€1,804 | +1.0% |
| Stocks and contracts in progress | 3 | €55,992 | €57,737 | +€1,745 | +3.1% |
| Stocks | 30/36 | €55,992 | €57,737 | +€1,745 | +3.1% |
| Amounts receivable within one year | 40/41 | €29,280 | €9,278 | -€20,003 | -68.3% |
| Trade receivables | 40 | €29,131 | €7,390 | -€21,740 | -74.6% |
| Other amounts receivable | 41 | €150 | €1,887 | +€1,738 | +1,162% |
| Cash at bank and in hand | 54/58 | €90,240 | €110,100 | +€19,859 | +22.0% |
| Deferred charges and accrued income | 490/1 | €613 | €815 | +€202 | +32.9% |
| Total equity and liabilities | 10/49 | €222,667 | €214,213 | -€8,453 | -3.8% |
| Equity | 10/15 | €116,829 | €136,972 | +€20,143 | +17.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €101,860 | €126,860 | +€25,000 | +24.5% |
| 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 | €100,000 | €125,000 | +€25,000 | +25.0% |
| Profit (loss) carried forward | 14 | €8,769 | €3,912 | -€4,857 | -55.4% |
| Amounts payable | 17/49 | €105,837 | €77,241 | -€28,596 | -27.0% |
| Amounts payable after more than one year | 17 | €36,925 | €27,413 | -€9,512 | -25.8% |
| Financial debts | 170/4 | €36,925 | €27,413 | -€9,512 | -25.8% |
| Amounts payable within one year | 42/48 | €68,913 | €49,828 | -€19,084 | -27.7% |
| Trade debts | 44 | €34,304 | €31,194 | -€3,110 | -9.1% |
| Suppliers | 440/4 | €34,304 | €31,194 | -€3,110 | -9.1% |
| Taxes, remuneration and social security | 45 | €29,120 | €14,707 | -€14,412 | -49.5% |
| Taxes | 450/3 | €14,508 | €9,350 | -€5,158 | -35.6% |
| Remuneration and social security | 454/9 | €14,611 | €5,357 | -€9,254 | -63.3% |
| Other amounts payable | 47/48 | €5,489 | €3,926 | -€1,563 | -28.5% |
| Remuneration, social security and pensions | 62 | €96,095 | €82,911 | -€13,184 | -13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,042 | €13,107 | +€65 | +0.5% |
| Other operating charges | 640/8 | €839 | €1,145 | +€306 | +36.5% |
| Gross operating margin | 9900 | €142,669 | €130,903 | -€11,766 | -8.2% |
| Operating profit (loss) | 9901 | €32,693 | €33,740 | +€1,047 | +3.2% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €4,209 | €3,928 | -€282 | -6.7% |
| Recurring financial charges | 65 | €4,209 | €3,928 | -€282 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | €28,484 | €29,812 | +€1,328 | +4.7% |
| Income taxes | 67/77 | €8,181 | €9,670 | +€1,489 | +18.2% |
| Profit (loss) for the period | 9904 | €20,303 | €20,143 | -€161 | -0.8% |
| Profit (loss) for the period to be appropriated | 9905 | €20,303 | €20,143 | -€161 | -0.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.