BOVERBA: 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.
BOVERBA
Largest movements
- Current investments +€49,790
up €49,790 (+10.0%), from €497,849 to €547,639
- Cash +€25,307
up €25,307 (+86.0%), from €29,422 to €54,729
mainly Net result for the year (+€117,757) and Other debts (+€37,200)
- Other debts +€37,200
up €37,200 (+100%), from €37,200 to €74,400
- Reserves +€30,000
up €30,000 (+24.6%), from €121,860 to €151,860
- Profit (loss) carried forward +€13,357
up €13,357 (+3.8%), from €347,796 to €361,153
- Gross operating margin +€16,331
up €16,331 (+8.3%), from €195,805 to €212,136
- Taxes +€4,409
up €4,409 (+13.4%), from €32,961 to €37,370
- Financial income +€4,365
up €4,365 (+54.7%), from €7,983 to €12,349
- Staff costs +€2,539
up €2,539 (+3.9%), from €64,583 to €67,122
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 | €550,453 | €624,822 | +€74,370 | +13.5% |
| Fixed assets | 21/28 | €3,855 | €2,818 | -€1,037 | -26.9% |
| Tangible fixed assets | 22/27 | €3,855 | €2,818 | -€1,037 | -26.9% |
| Plant, machinery and equipment | 23 | €3,855 | €2,818 | -€1,037 | -26.9% |
| Current assets | 29/58 | €546,598 | €622,004 | +€75,406 | +13.8% |
| Amounts receivable within one year | 40/41 | - | €1,334 | +€1,334 | |
| Other amounts receivable | 41 | - | €1,334 | +€1,334 | |
| Current investments | 50/53 | €497,849 | €547,639 | +€49,790 | +10.0% |
| Cash at bank and in hand | 54/58 | €29,422 | €54,729 | +€25,307 | +86.0% |
| Deferred charges and accrued income | 490/1 | €19,327 | €18,302 | -€1,025 | -5.3% |
| Total equity and liabilities | 10/49 | €550,453 | €624,822 | +€74,370 | +13.5% |
| Equity | 10/15 | €488,256 | €531,613 | +€43,357 | +8.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €121,860 | €151,860 | +€30,000 | +24.6% |
| Distributable reserves | 133 | €121,860 | €151,860 | +€30,000 | +24.6% |
| Profit (loss) carried forward | 14 | €347,796 | €361,153 | +€13,357 | +3.8% |
| Amounts payable | 17/49 | €62,197 | €93,210 | +€31,013 | +49.9% |
| Amounts payable within one year | 42/48 | €62,197 | €93,210 | +€31,013 | +49.9% |
| Trade debts | 44 | €1,882 | €75 | -€1,807 | -96.0% |
| Suppliers | 440/4 | €1,882 | €75 | -€1,807 | -96.0% |
| Advances received on contracts in progress | 46 | €1,733 | €117 | -€1,616 | -93.3% |
| Taxes, remuneration and social security | 45 | €21,382 | €18,617 | -€2,765 | -12.9% |
| Taxes | 450/3 | €12,133 | €8,892 | -€3,241 | -26.7% |
| Remuneration and social security | 454/9 | €9,249 | €9,725 | +€476 | +5.1% |
| Other amounts payable | 47/48 | €37,200 | €74,400 | +€37,200 | +100% |
| Remuneration, social security and pensions | 62 | €64,583 | €67,122 | +€2,539 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,037 | €1,037 | = | 0.0% |
| Other operating charges | 640/8 | €629 | €648 | +€19 | +3.0% |
| Gross operating margin | 9900 | €195,805 | €212,136 | +€16,331 | +8.3% |
| Operating profit (loss) | 9901 | €129,556 | €143,328 | +€13,772 | +10.6% |
| Financial income | 75/76B | €7,983 | €12,349 | +€4,365 | +54.7% |
| Recurring financial income | 75 | €7,983 | €12,349 | +€4,365 | +54.7% |
| Financial charges | 65/66B | €421 | €550 | +€129 | +30.7% |
| Recurring financial charges | 65 | €421 | €550 | +€129 | +30.7% |
| Profit (loss) for the period before taxes | 9903 | €137,119 | €155,127 | +€18,009 | +13.1% |
| Income taxes | 67/77 | €32,961 | €37,370 | +€4,409 | +13.4% |
| Profit (loss) for the period | 9904 | €104,158 | €117,757 | +€13,599 | +13.1% |
| Profit (loss) for the period to be appropriated | 9905 | €104,158 | €117,757 | +€13,599 | +13.1% |
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 24 October 2026 via checked.be.