BOVENISTIER MODEL: 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.
BOVENISTIER MODEL
Largest movements
- Receivables within one year +€2,561
up €2,561 (+30.8%), from €8,316 to €10,877
of which Trade receivables: +€1,676
- Tangible fixed assets -€157
down €157 (-24.4%), from €644 to €487
of which Plant, machinery and equipment: -€113
- Short-term financial debts +€4,650
up €4,650 (+159%), from €2,927 to €7,577
- Profit (loss) carried forward -€3,656
down €3,656 (-15.0%), from -€24,416 to -€28,071
- Accrued charges and deferred income +€2,612
new in 2025: €2,612
- Other debts -€1,117
down €1,117 (-6.3%), from €17,673 to €16,557
- Gross operating margin +€1,344
up €1,344 (+34.8%), from -€3,860 to -€2,516
- Financial charges +€343
up €343 (+53.7%), from €640 to €983
- Other operating charges -€115
no longer reported in 2025 (was €115)
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,960 | €11,364 | +€2,404 | +26.8% |
| Fixed assets | 21/28 | €644 | €487 | -€157 | -24.4% |
| Tangible fixed assets | 22/27 | €644 | €487 | -€157 | -24.4% |
| Plant, machinery and equipment | 23 | €476 | €364 | -€113 | -23.7% |
| Furniture and vehicles | 24 | €167 | €123 | -€44 | -26.3% |
| Current assets | 29/58 | €8,316 | €10,877 | +€2,561 | +30.8% |
| Amounts receivable within one year | 40/41 | €8,316 | €10,877 | +€2,561 | +30.8% |
| Trade receivables | 40 | €8,088 | €9,764 | +€1,676 | +20.7% |
| Other amounts receivable | 41 | €228 | €1,113 | +€885 | +388% |
| Total equity and liabilities | 10/49 | €8,960 | €11,364 | +€2,404 | +26.8% |
| Equity | 10/15 | -€12,016 | -€15,671 | -€3,656 | -30.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,416 | -€28,071 | -€3,656 | -15.0% |
| Amounts payable | 17/49 | €20,976 | €27,035 | +€6,059 | +28.9% |
| Amounts payable within one year | 42/48 | €20,976 | €24,423 | +€3,448 | +16.4% |
| Financial debts | 43 | €2,927 | €7,577 | +€4,650 | +159% |
| Credit institutions | 430/8 | €2,927 | €7,577 | +€4,650 | +159% |
| Trade debts | 44 | €375 | €289 | -€86 | -22.9% |
| Suppliers | 440/4 | €375 | €289 | -€86 | -22.9% |
| Other amounts payable | 47/48 | €17,673 | €16,557 | -€1,117 | -6.3% |
| Accrued charges and deferred income | 492/3 | - | €2,612 | +€2,612 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €131 | €157 | +€26 | +19.5% |
| Other operating charges | 640/8 | €115 | - | -€115 | |
| Gross operating margin | 9900 | -€3,860 | -€2,516 | +€1,344 | +34.8% |
| Operating profit (loss) | 9901 | -€4,106 | -€2,673 | +€1,433 | +34.9% |
| Financial charges | 65/66B | €640 | €983 | +€343 | +53.7% |
| Recurring financial charges | 65 | €640 | €983 | +€343 | +53.7% |
| Profit (loss) for the period before taxes | 9903 | -€4,746 | -€3,656 | +€1,090 | +23.0% |
| Profit (loss) for the period | 9904 | -€4,746 | -€3,656 | +€1,090 | +23.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,746 | -€3,656 | +€1,090 | +23.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.