BOVALO: 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.
BOVALO
Largest movements
- Cash +€16,662
up €16,662 (+26.4%), from €63,204 to €79,866
mainly Net result for the year (+€10,030) and Other debts (+€2,569)
- Deferred charges and accrued income -€1,730
down €1,730 (-100%), from €1,730 to €0
- Tangible fixed assets -€1,640
down €1,640 (-22.2%), from €7,388 to €5,748
of which Other tangible fixed assets: -€1,088
- Reserves +€10,030
up €10,030 (+24.7%), from €40,581 to €50,611
- Other debts +€2,569
up €2,569 (+8.7%), from €29,668 to €32,237
- Tax, wage and social debts +€986
up €986 (+59.5%), from €1,656 to €2,641
- Gross operating margin +€3,629
up €3,629 (+24.6%), from €14,750 to €18,379
- Taxes +€1,114
up €1,114 (+28.0%), from €3,986 to €5,100
- Other operating charges -€339
down €339 (-15.9%), from €2,127 to €1,789
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 | €84,029 | €97,321 | +€13,292 | +15.8% |
| Fixed assets | 21/28 | €7,388 | €5,748 | -€1,640 | -22.2% |
| Tangible fixed assets | 22/27 | €7,388 | €5,748 | -€1,640 | -22.2% |
| Land and buildings | 22 | €0 | - | = | |
| Furniture and vehicles | 24 | €2,000 | €1,448 | -€552 | -27.6% |
| Other tangible fixed assets | 26 | €5,388 | €4,299 | -€1,088 | -20.2% |
| Current assets | 29/58 | €76,641 | €91,573 | +€14,932 | +19.5% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €11,707 | €11,707 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €63,204 | €79,866 | +€16,662 | +26.4% |
| Deferred charges and accrued income | 490/1 | €1,730 | €0 | -€1,730 | -100% |
| Total equity and liabilities | 10/49 | €84,029 | €97,321 | +€13,292 | +15.8% |
| Equity | 10/15 | €46,781 | €56,811 | +€10,030 | +21.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €40,581 | €50,611 | +€10,030 | +24.7% |
| Distributable reserves | 133 | €40,581 | €50,611 | +€10,030 | +24.7% |
| Amounts payable | 17/49 | €37,248 | €40,510 | +€3,263 | +8.8% |
| Amounts payable within one year | 42/48 | €32,062 | €35,325 | +€3,263 | +10.2% |
| Trade debts | 44 | €738 | €446 | -€292 | -39.6% |
| Suppliers | 440/4 | €738 | €446 | -€292 | -39.6% |
| Taxes, remuneration and social security | 45 | €1,656 | €2,641 | +€986 | +59.5% |
| Taxes | 450/3 | €1,656 | €2,641 | +€986 | +59.5% |
| Other amounts payable | 47/48 | €29,668 | €32,237 | +€2,569 | +8.7% |
| Accrued charges and deferred income | 492/3 | €5,185 | €5,185 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,467 | €1,640 | +€173 | +11.8% |
| Other operating charges | 640/8 | €2,127 | €1,789 | -€339 | -15.9% |
| Gross operating margin | 9900 | €14,750 | €18,379 | +€3,629 | +24.6% |
| Operating profit (loss) | 9901 | €11,156 | €14,950 | +€3,795 | +34.0% |
| Financial income | 75/76B | €286 | €382 | +€95 | +33.3% |
| Recurring financial income | 75 | €286 | €382 | +€95 | +33.3% |
| Financial charges | 65/66B | €123 | €202 | +€79 | +64.1% |
| Recurring financial charges | 65 | €123 | €202 | +€79 | +64.1% |
| Profit (loss) for the period before taxes | 9903 | €11,319 | €15,130 | +€3,811 | +33.7% |
| Income taxes | 67/77 | €3,986 | €5,100 | +€1,114 | +28.0% |
| Profit (loss) for the period | 9904 | €7,333 | €10,030 | +€2,697 | +36.8% |
| Profit (loss) for the period to be appropriated | 9905 | €7,333 | €10,030 | +€2,697 | +36.8% |
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 18 October 2026 via checked.be.