BOVATI: 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.
BOVATI
Largest movements
- Current investments -€93,910
down €93,910 (-57.3%), from €163,756 to €69,845
- Tangible fixed assets -€24,436
down €24,436 (-52.4%), from €46,621 to €22,185
- Other debts -€105,701
down €105,701 (-36.8%), from €286,893 to €181,191
- Profit (loss) carried forward -€12,746
down €12,746 (-12.0%), from -€105,940 to -€118,686
- Financial income -€2,570
down €2,570 (-54.6%), from €4,708 to €2,138
- Depreciation -€353
down €353 (-1.4%), from €24,789 to €24,436
- Gross operating margin +€331
up €331 (+2.5%), from €13,040 to €13,371
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 | €219,463 | €100,938 | -€118,525 | -54.0% |
| Fixed assets | 21/28 | €46,621 | €22,185 | -€24,436 | -52.4% |
| Tangible fixed assets | 22/27 | €46,621 | €22,185 | -€24,436 | -52.4% |
| Land and buildings | 22 | €46,621 | €22,185 | -€24,436 | -52.4% |
| Current assets | 29/58 | €172,842 | €78,753 | -€94,089 | -54.4% |
| Amounts receivable within one year | 40/41 | €1,381 | €2,327 | +€946 | +68.5% |
| Trade receivables | 40 | - | €725 | +€725 | |
| Other amounts receivable | 41 | €1,381 | €1,602 | +€221 | +16.0% |
| Current investments | 50/53 | €163,756 | €69,845 | -€93,910 | -57.3% |
| Cash at bank and in hand | 54/58 | €5,972 | €5,700 | -€272 | -4.5% |
| Deferred charges and accrued income | 490/1 | €1,733 | €881 | -€853 | -49.2% |
| Total equity and liabilities | 10/49 | €219,463 | €100,938 | -€118,525 | -54.0% |
| Equity | 10/15 | -€68,206 | -€80,952 | -€12,746 | -18.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €17,734 | €17,734 | = | 0.0% |
| Distributable reserves | 133 | €17,734 | €17,734 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€105,940 | -€118,686 | -€12,746 | -12.0% |
| Amounts payable | 17/49 | €287,669 | €181,890 | -€105,779 | -36.8% |
| Amounts payable within one year | 42/48 | €287,516 | €181,758 | -€105,759 | -36.8% |
| Trade debts | 44 | €624 | €566 | -€57 | -9.2% |
| Suppliers | 440/4 | €624 | €566 | -€57 | -9.2% |
| Other amounts payable | 47/48 | €286,893 | €181,191 | -€105,701 | -36.8% |
| Accrued charges and deferred income | 492/3 | €153 | €132 | -€21 | -13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,789 | €24,436 | -€353 | -1.4% |
| Other operating charges | 640/8 | €3,088 | €3,183 | +€95 | +3.1% |
| Non-recurring operating charges | 66A | €240 | €0 | -€240 | -100.0% |
| Gross operating margin | 9900 | €13,040 | €13,371 | +€331 | +2.5% |
| Operating profit (loss) | 9901 | -€15,078 | -€14,248 | +€830 | +5.5% |
| Financial income | 75/76B | €4,708 | €2,138 | -€2,570 | -54.6% |
| Recurring financial income | 75 | €4,708 | €2,138 | -€2,570 | -54.6% |
| Financial charges | 65/66B | €278 | €306 | +€27 | +9.8% |
| Recurring financial charges | 65 | €278 | €306 | +€27 | +9.8% |
| Profit (loss) for the period before taxes | 9903 | -€10,648 | -€12,416 | -€1,768 | -16.6% |
| Income taxes | 67/77 | €313 | €330 | +€16 | +5.3% |
| Profit (loss) for the period | 9904 | -€10,961 | -€12,746 | -€1,784 | -16.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,961 | -€12,746 | -€1,784 | -16.3% |
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 6 October 2026 via checked.be.