Bovenbos: 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.
Bovenbos
Largest movements
- Current investments +€220,000
up €220,000 (+157%), from €140,000 to €360,000
- Cash -€88,773
down €88,773 (-58.4%), from €151,971 to €63,198
mainly Current investments (-€220,000) and Investment in fixed assets (net) (-€33,144)
- Reserves +€129,801
up €129,801 (+44.3%), from €293,248 to €423,049
- Debts after one year -€21,710
down €21,710 (-8.8%), from €245,994 to €224,285
- Tax, wage and social debts +€12,576
up €12,576 (+48.9%), from €25,708 to €38,284
of which Taxes: +€7,837
- Gross operating margin +€63,067
up €63,067 (+29.4%), from €214,506 to €277,573
- Taxes +€16,133
up €16,133 (+38.4%), from €41,961 to €58,093
- Staff costs +€7,431
up €7,431 (+19.7%), from €37,813 to €45,244
- Financial income -€4,220
down €4,220 (-74.7%), from €5,653 to €1,432
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 | €707,029 | €838,342 | +€131,314 | +18.6% |
| Fixed assets | 21/28 | €414,467 | €413,195 | -€1,272 | -0.3% |
| Intangible fixed assets | 21 | €100 | €100 | = | 0.0% |
| Tangible fixed assets | 22/27 | €414,367 | €413,095 | -€1,272 | -0.3% |
| Land and buildings | 22 | €303,492 | €292,019 | -€11,473 | -3.8% |
| Plant, machinery and equipment | 23 | €105,078 | €93,375 | -€11,703 | -11.1% |
| Furniture and vehicles | 24 | €5,797 | €27,701 | +€21,904 | +378% |
| Current assets | 29/58 | €292,562 | €425,148 | +€132,586 | +45.3% |
| Amounts receivable within one year | 40/41 | €322 | - | -€322 | |
| Trade receivables | 40 | €322 | - | -€322 | |
| Current investments | 50/53 | €140,000 | €360,000 | +€220,000 | +157% |
| Cash at bank and in hand | 54/58 | €151,971 | €63,198 | -€88,773 | -58.4% |
| Deferred charges and accrued income | 490/1 | €269 | €1,949 | +€1,680 | +625% |
| Total equity and liabilities | 10/49 | €707,029 | €838,342 | +€131,314 | +18.6% |
| Equity | 10/15 | €293,338 | €423,139 | +€129,801 | +44.2% |
| Reserves | 13 | €293,248 | €423,049 | +€129,801 | +44.3% |
| Distributable reserves | 133 | €293,248 | €423,049 | +€129,801 | +44.3% |
| Profit (loss) carried forward | 14 | €90 | €90 | = | 0.0% |
| Amounts payable | 17/49 | €413,691 | €415,203 | +€1,512 | +0.4% |
| Amounts payable after more than one year | 17 | €245,994 | €224,285 | -€21,710 | -8.8% |
| Financial debts | 170/4 | €245,994 | €224,285 | -€21,710 | -8.8% |
| Amounts payable within one year | 42/48 | €167,697 | €190,919 | +€23,222 | +13.8% |
| Current portion of amounts payable after more than one year | 42 | €132,559 | €134,467 | +€1,908 | +1.4% |
| Trade debts | 44 | €7,127 | €11,146 | +€4,018 | +56.4% |
| Suppliers | 440/4 | €7,127 | €11,146 | +€4,018 | +56.4% |
| Taxes, remuneration and social security | 45 | €25,708 | €38,284 | +€12,576 | +48.9% |
| Taxes | 450/3 | €20,522 | €28,359 | +€7,837 | +38.2% |
| Remuneration and social security | 454/9 | €5,186 | €9,925 | +€4,738 | +91.4% |
| Other amounts payable | 47/48 | €2,302 | €7,022 | +€4,720 | +205% |
| Remuneration, social security and pensions | 62 | €37,813 | €45,244 | +€7,431 | +19.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,762 | €34,416 | +€1,654 | +5.0% |
| Other operating charges | 640/8 | €1,179 | €932 | -€247 | -20.9% |
| Gross operating margin | 9900 | €214,506 | €277,573 | +€63,067 | +29.4% |
| Operating profit (loss) | 9901 | €142,753 | €196,982 | +€54,229 | +38.0% |
| Financial income | 75/76B | €5,653 | €1,432 | -€4,220 | -74.7% |
| Recurring financial income | 75 | €5,653 | €1,432 | -€4,220 | -74.7% |
| Financial charges | 65/66B | €5,468 | €5,983 | +€514 | +9.4% |
| Recurring financial charges | 65 | €5,468 | €5,983 | +€514 | +9.4% |
| Profit (loss) for the period before taxes | 9903 | €142,937 | €192,431 | +€49,494 | +34.6% |
| Income taxes | 67/77 | €41,961 | €58,093 | +€16,133 | +38.4% |
| Profit (loss) for the period | 9904 | €100,976 | €134,338 | +€33,362 | +33.0% |
| Profit (loss) for the period to be appropriated | 9905 | €100,976 | €134,338 | +€33,362 | +33.0% |
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 23 October 2026 via checked.be.