BOVEMO: 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.
What changed
BOVEMO
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€122,360
2024 · €98,264+€24,096
Equity
€1.5m
2024 · €1.4m+€122,360
Cash
€77,970
2024 · €85,350-€7,379
Balance sheet total
€15.9m
2024 · €15.3m+€609,858
Largest movements
Assets
- Tangible fixed assets +€724,161
up €724,161 (+6.9%), from €10.5m to €11.2m
of which Land and buildings: +€728,150
Equity and liabilities
- Other debts +€1.6m
up €1.6m (+36.6%), from €4.4m to €5.9m
- Debts after one year -€1.1m
down €1.1m (-14.0%), from €8.1m to €7.0m
Income statement
- Gross operating margin +€113,190
up €113,190 (+10.9%), from €1.0m to €1.2m
- Depreciation +€68,024
up €68,024 (+12.1%), from €561,755 to €629,779
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.
Result 2024
€98,264
Gross operating margin
+€113,190
Staff costs
-€10,862
Depreciation
-€68,024
Other operating charges
-€108
Financial income
+€31
Financial charges
-€3,988
Taxes
-€6,144
Result 2025
€122,360
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.
From operations
+€2.5m
Investment
-€1.4m
Financing
-€1.1m
Cash 2024
€85,350
From operations (derived)
+€2.5m
Net result for the year
+€122,360
Depreciation
+€629,779
Stocks and contracts
+€17,881
Receivables within one year
+€72,460
Deferred charges and accrued income
+€14,104
Trade debts
+€77,104
Tax, wage and social debts
-€43,591
Other debts
+€1.6m
Investment (derived)
-€1.4m
Investment in fixed assets (net)
-€1.4m
Financing
-€1.1m
Debts after one year
-€1.1m
Current portion of long-term debt
+€25,105
Short-term financial debts
-€29,408
Cash 2025
€77,970
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,255,659 | €15,865,517 | +€609,858 | +4.0% |
| Fixed assets | 21/28 | €14,998,709 | €15,720,391 | +€721,681 | +4.8% |
| Tangible fixed assets | 22/27 | €10,496,229 | €11,220,391 | +€724,161 | +6.9% |
| Land and buildings | 22 | €10,339,159 | €11,067,309 | +€728,150 | +7.0% |
| Plant, machinery and equipment | 23 | €10,256 | €38,046 | +€27,790 | +271.0% |
| Furniture and vehicles | 24 | €146,814 | €115,035 | -€31,779 | -21.6% |
| Financial fixed assets | 28 | €4,502,480 | €4,500,000 | -€2,480 | -0.1% |
| Current assets | 29/58 | €256,950 | €145,126 | -€111,824 | -43.5% |
| Stocks and contracts in progress | 3 | €17,881 | €0 | -€17,881 | -100.0% |
| Stocks | 30/36 | €17,881 | €0 | -€17,881 | -100.0% |
| Amounts receivable within one year | 40/41 | €137,050 | €64,590 | -€72,460 | -52.9% |
| Trade receivables | 40 | €106,448 | €39,567 | -€66,881 | -62.8% |
| Other amounts receivable | 41 | €30,602 | €25,023 | -€5,579 | -18.2% |
| Cash at bank and in hand | 54/58 | €85,350 | €77,970 | -€7,379 | -8.6% |
| Deferred charges and accrued income | 490/1 | €16,670 | €2,566 | -€14,104 | -84.6% |
| Total equity and liabilities | 10/49 | €15,255,659 | €15,865,517 | +€609,858 | +4.0% |
| Equity | 10/15 | €1,425,208 | €1,547,568 | +€122,360 | +8.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,419,008 | €1,541,368 | +€122,360 | +8.6% |
| 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 | €1,417,148 | €1,539,508 | +€122,360 | +8.6% |
| Amounts payable | 17/49 | €13,830,451 | €14,317,949 | +€487,497 | +3.5% |
| Amounts payable after more than one year | 17 | €8,117,731 | €6,982,945 | -€1.1m | -14.0% |
| Financial debts | 170/4 | €8,117,731 | €6,982,945 | -€1.1m | -14.0% |
| Amounts payable within one year | 42/48 | €5,709,721 | €7,332,004 | +€1.6m | +28.4% |
| Current portion of amounts payable after more than one year | 42 | €1,117,496 | €1,142,600 | +€25,105 | +2.2% |
| Financial debts | 43 | €29,408 | €0 | -€29,408 | -100.0% |
| Credit institutions | 430/8 | €29,408 | €0 | -€29,408 | -100.0% |
| Trade debts | 44 | €87,773 | €164,876 | +€77,104 | +87.8% |
| Suppliers | 440/4 | €87,773 | €164,876 | +€77,104 | +87.8% |
| Taxes, remuneration and social security | 45 | €123,299 | €79,708 | -€43,591 | -35.4% |
| Taxes | 450/3 | €89,728 | €57,441 | -€32,287 | -36.0% |
| Remuneration and social security | 454/9 | €33,571 | €22,267 | -€11,304 | -33.7% |
| Other amounts payable | 47/48 | €4,351,745 | €5,944,819 | +€1.6m | +36.6% |
| Accrued charges and deferred income | 492/3 | €3,000 | €3,000 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €48,738 | €59,600 | +€10,862 | +22.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €561,755 | €629,779 | +€68,024 | +12.1% |
| Other operating charges | 640/8 | €68,364 | €68,472 | +€108 | +0.2% |
| Gross operating margin | 9900 | €1,043,016 | €1,156,206 | +€113,190 | +10.9% |
| Operating profit (loss) | 9901 | €364,159 | €398,356 | +€34,197 | +9.4% |
| Financial income | 75/76B | €0 | €31 | +€31 | |
| Recurring financial income | 75 | €0 | €31 | +€31 | |
| Financial charges | 65/66B | €229,022 | €233,010 | +€3,988 | +1.7% |
| Recurring financial charges | 65 | €229,022 | €233,010 | +€3,988 | +1.7% |
| Profit (loss) for the period before taxes | 9903 | €135,137 | €165,377 | +€30,240 | +22.4% |
| Income taxes | 67/77 | €36,873 | €43,017 | +€6,144 | +16.7% |
| Profit (loss) for the period | 9904 | €98,264 | €122,360 | +€24,096 | +24.5% |
| Profit (loss) for the period to be appropriated | 9905 | €98,264 | €122,360 | +€24,096 | +24.5% |
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 2 October 2026 via checked.be.