Bovel: 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.
Bovel
Largest movements
- Cash +€43,214
up €43,214 (+47.4%), from €91,096 to €134,311
mainly Depreciation (+€93,306) and Trade debts (+€43,737)
- Stocks and contracts -€43,000
down €43,000 (-12.6%), from €342,026 to €299,026
- Tangible fixed assets -€25,368
down €25,368 (-1.5%), from €1.6m to €1.6m
of which Land and buildings: -€24,858
- Debts after one year -€46,736
down €46,736 (-31.0%), from €150,718 to €103,982
- Trade debts +€43,737
up €43,737 (+104%), from €42,153 to €85,890
- Other debts -€23,761
down €23,761 (-2.2%), from €1.1m to €1.1m
- Gross operating margin +€16,102
up €16,102 (+11.5%), from €139,918 to €156,020
- Depreciation +€14,665
up €14,665 (+18.6%), from €78,641 to €93,306
- Staff costs +€5,541
up €5,541 (+9.9%), from €55,938 to €61,479
- Other operating charges +€4,294
up €4,294 (+81.9%), from €5,241 to €9,535
- Financial charges -€1,631
down €1,631 (-32.7%), from €4,994 to €3,363
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 | €2,164,095 | €2,125,725 | -€38,370 | -1.8% |
| Fixed assets | 21/28 | €1,637,962 | €1,612,594 | -€25,368 | -1.5% |
| Tangible fixed assets | 22/27 | €1,637,647 | €1,612,279 | -€25,368 | -1.5% |
| Land and buildings | 22 | €1,631,540 | €1,606,683 | -€24,858 | -1.5% |
| Plant, machinery and equipment | 23 | €5,587 | €992 | -€4,595 | -82.2% |
| Furniture and vehicles | 24 | €520 | €4,604 | +€4,085 | +786% |
| Financial fixed assets | 28 | €315 | €315 | = | 0.0% |
| Current assets | 29/58 | €526,133 | €513,132 | -€13,001 | -2.5% |
| Stocks and contracts in progress | 3 | €342,026 | €299,026 | -€43,000 | -12.6% |
| Stocks | 30/36 | €342,026 | €299,026 | -€43,000 | -12.6% |
| Amounts receivable within one year | 40/41 | €87,747 | €74,909 | -€12,837 | -14.6% |
| Trade receivables | 40 | €57,658 | €64,388 | +€6,730 | +11.7% |
| Other amounts receivable | 41 | €30,089 | €10,521 | -€19,568 | -65.0% |
| Cash at bank and in hand | 54/58 | €91,096 | €134,311 | +€43,214 | +47.4% |
| Deferred charges and accrued income | 490/1 | €5,265 | €4,886 | -€378 | -7.2% |
| Total equity and liabilities | 10/49 | €2,164,095 | €2,125,725 | -€38,370 | -1.8% |
| Equity | 10/15 | €803,453 | €792,137 | -€11,317 | -1.4% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €458,561 | €458,561 | = | 0.0% |
| Distributable reserves | 133 | €458,561 | €458,561 | = | 0.0% |
| Profit (loss) carried forward | 14 | €44,892 | €33,575 | -€11,317 | -25.2% |
| Amounts payable | 17/49 | €1,360,642 | €1,333,589 | -€27,053 | -2.0% |
| Amounts payable after more than one year | 17 | €150,718 | €103,982 | -€46,736 | -31.0% |
| Financial debts | 170/4 | €150,718 | €103,982 | -€46,736 | -31.0% |
| Amounts payable within one year | 42/48 | €1,194,627 | €1,213,947 | +€19,320 | +1.6% |
| Current portion of amounts payable after more than one year | 42 | €45,961 | €46,736 | +€775 | +1.7% |
| Trade debts | 44 | €42,153 | €85,890 | +€43,737 | +104% |
| Suppliers | 440/4 | €42,153 | €85,890 | +€43,737 | +104% |
| Taxes, remuneration and social security | 45 | €6,586 | €5,155 | -€1,431 | -21.7% |
| Taxes | 450/3 | €463 | €415 | -€48 | -10.5% |
| Remuneration and social security | 454/9 | €6,123 | €4,740 | -€1,382 | -22.6% |
| Other amounts payable | 47/48 | €1,099,927 | €1,076,166 | -€23,761 | -2.2% |
| Accrued charges and deferred income | 492/3 | €15,297 | €15,660 | +€363 | +2.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €55,938 | €61,479 | +€5,541 | +9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,641 | €93,306 | +€14,665 | +18.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | -€39 | -€39 | |
| Other operating charges | 640/8 | €5,241 | €9,535 | +€4,294 | +81.9% |
| Gross operating margin | 9900 | €139,918 | €156,020 | +€16,102 | +11.5% |
| Operating profit (loss) | 9901 | €97 | -€8,261 | -€8,358 | |
| Financial income | 75/76B | €338 | €308 | -€30 | -8.9% |
| Recurring financial income | 75 | €338 | €308 | -€30 | -8.9% |
| Financial charges | 65/66B | €4,994 | €3,363 | -€1,631 | -32.7% |
| Recurring financial charges | 65 | €4,994 | €3,363 | -€1,631 | -32.7% |
| Profit (loss) for the period before taxes | 9903 | -€4,559 | -€11,317 | -€6,758 | -148% |
| Income taxes | 67/77 | €0 | €0 | -€0 | -33.3% |
| Profit (loss) for the period | 9904 | -€4,559 | -€11,317 | -€6,758 | -148% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,559 | -€11,317 | -€6,758 | -148% |
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 20 October 2026 via checked.be.