Bovu: 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.
Bovu
Largest movements
- Cash -€112,422
down €112,422 (-87.0%), from €129,269 to €16,848
mainly Debts after one year (-€130,725) and Other debts (-€100,000)
- Reserves +€142,057
up €142,057 (+63.4%), from €224,240 to €366,297
- Debts after one year -€130,725
down €130,725 (-12.7%), from €1.0m to €895,787
- Other debts -€100,000
down €100,000 (-8.2%), from €1.2m to €1.1m
- Tax, wage and social debts -€33,597
down €33,597 (-59.0%), from €56,946 to €23,349
- Trade debts +€26,620
new in 2025: €26,620
- Gross operating margin -€44,221
down €44,221 (-17.7%), from €249,133 to €204,912
- Taxes -€13,122
down €13,122 (-24.4%), from €53,807 to €40,686
- Financial charges -€4,248
down €4,248 (-16.8%), from €25,275 to €21,027
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 | €2,653,469 | €2,565,248 | -€88,222 | -3.3% |
| Fixed assets | 21/28 | €2,500,000 | €2,500,000 | = | 0.0% |
| Financial fixed assets | 28 | €2,500,000 | €2,500,000 | = | 0.0% |
| Current assets | 29/58 | €153,469 | €65,248 | -€88,222 | -57.5% |
| Amounts receivable within one year | 40/41 | €24,200 | €48,400 | +€24,200 | +100% |
| Trade receivables | 40 | €24,200 | €48,400 | +€24,200 | +100% |
| Cash at bank and in hand | 54/58 | €129,269 | €16,848 | -€112,422 | -87.0% |
| Total equity and liabilities | 10/49 | €2,653,469 | €2,565,248 | -€88,222 | -3.3% |
| Equity | 10/15 | €229,240 | €371,297 | +€142,057 | +62.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €224,240 | €366,297 | +€142,057 | +63.4% |
| Distributable reserves | 133 | €224,240 | €366,297 | +€142,057 | +63.4% |
| Amounts payable | 17/49 | €2,424,230 | €2,193,951 | -€230,278 | -9.5% |
| Amounts payable after more than one year | 17 | €1,026,512 | €895,787 | -€130,725 | -12.7% |
| Financial debts | 170/4 | €1,026,512 | €895,787 | -€130,725 | -12.7% |
| Amounts payable within one year | 42/48 | €1,397,717 | €1,295,164 | -€102,553 | -7.3% |
| Current portion of amounts payable after more than one year | 42 | €126,302 | €130,725 | +€4,423 | +3.5% |
| Trade debts | 44 | - | €26,620 | +€26,620 | |
| Suppliers | 440/4 | - | €26,620 | +€26,620 | |
| Taxes, remuneration and social security | 45 | €56,946 | €23,349 | -€33,597 | -59.0% |
| Taxes | 450/3 | €56,946 | €23,349 | -€33,597 | -59.0% |
| Other amounts payable | 47/48 | €1,214,469 | €1,114,469 | -€100,000 | -8.2% |
| Accrued charges and deferred income | 492/3 | - | €3,000 | +€3,000 | |
| Other operating charges | 640/8 | €528 | €1,143 | +€615 | +116% |
| Gross operating margin | 9900 | €249,133 | €204,912 | -€44,221 | -17.7% |
| Operating profit (loss) | 9901 | €248,605 | €203,770 | -€44,836 | -18.0% |
| Financial charges | 65/66B | €25,275 | €21,027 | -€4,248 | -16.8% |
| Recurring financial charges | 65 | €25,275 | €21,027 | -€4,248 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | €223,330 | €182,743 | -€40,587 | -18.2% |
| Income taxes | 67/77 | €53,807 | €40,686 | -€13,122 | -24.4% |
| Profit (loss) for the period | 9904 | €169,523 | €142,057 | -€27,466 | -16.2% |
| Profit (loss) for the period to be appropriated | 9905 | €169,523 | €142,057 | -€27,466 | -16.2% |
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 31 October 2026 via checked.be.