BOWATI: 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.
What changed
BOWATI
NACE 70.100, Activities of head offices
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€810,970
2024 · €973,724-€162,754
Equity
€482,249
2024 · €371,279+€110,970
Cash
€444,122
2024 · €465,983-€21,862
Balance sheet total
€2.9m
2024 · €2.7m+€243,828
Largest movements
Assets
- Tangible fixed assets +€265,453
up €265,453 (+12.5%), from €2.1m to €2.4m
of which Land and buildings: +€266,805
Equity and liabilities
- Debts after one year +€207,872
up €207,872 (+18.0%), from €1.2m to €1.4m
- Other debts -€113,069
down €113,069 (-11.4%), from €993,427 to €880,358
- Reserves +€110,970
up €110,970 (+31.5%), from €352,679 to €463,649
- Current portion of long-term debt +€37,198
up €37,198 (+29.5%), from €125,911 to €163,109
Income statement
- Gross operating margin -€113,750
down €113,750 (-7.9%), from €1.4m to €1.3m
- Taxes -€56,278
down €56,278 (-16.7%), from €336,391 to €280,113
- Other operating charges +€21,867
up €21,867 (+165%), from €13,252 to €35,119
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
€973,724
Gross operating margin
-€113,750
Depreciation
-€12,369
Other operating charges
-€21,867
Other operating items
-€63,211
Financial income
+€1,774
Financial charges
-€9,609
Taxes
+€56,278
Result 2025
€810,970
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€836,571
Investment
-€403,503
Financing
-€454,929
Cash 2024
€465,983
From operations (derived)
+€836,571
Net result for the year
+€810,970
Depreciation
+€114,051
Receivables within one year
+€24,958
Smaller working-capital items
-€3,533
Tax, wage and social debts
+€3,194
Other debts
-€113,069
Investment (derived)
-€403,503
Investment in fixed assets (net)
-€403,503
Financing
-€454,929
Debts after one year
+€207,872
Current portion of long-term debt
+€37,198
Contributions, distributions and other
-€700,000
Cash 2025
€444,122
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,689,599 | €2,933,427 | +€243,828 | +9.1% |
| Fixed assets | 21/28 | €2,131,983 | €2,421,435 | +€289,453 | +13.6% |
| Tangible fixed assets | 22/27 | €2,131,983 | €2,397,435 | +€265,453 | +12.5% |
| Land and buildings | 22 | €2,128,357 | €2,395,162 | +€266,805 | +12.5% |
| Furniture and vehicles | 24 | €3,626 | €2,273 | -€1,353 | -37.3% |
| Financial fixed assets | 28 | - | €24,000 | +€24,000 | |
| Current assets | 29/58 | €557,617 | €511,992 | -€45,624 | -8.2% |
| Amounts receivable within one year | 40/41 | €83,871 | €58,913 | -€24,958 | -29.8% |
| Trade receivables | 40 | €83,871 | €40,824 | -€43,047 | -51.3% |
| Other amounts receivable | 41 | - | €18,090 | +€18,090 | |
| Cash at bank and in hand | 54/58 | €465,983 | €444,122 | -€21,862 | -4.7% |
| Deferred charges and accrued income | 490/1 | €7,762 | €8,958 | +€1,195 | +15.4% |
| Total equity and liabilities | 10/49 | €2,689,599 | €2,933,427 | +€243,828 | +9.1% |
| Equity | 10/15 | €371,279 | €482,249 | +€110,970 | +29.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €352,679 | €463,649 | +€110,970 | +31.5% |
| Distributable reserves | 133 | €352,679 | €463,649 | +€110,970 | +31.5% |
| Amounts payable | 17/49 | €2,318,321 | €2,451,178 | +€132,858 | +5.7% |
| Amounts payable after more than one year | 17 | €1,154,785 | €1,362,658 | +€207,872 | +18.0% |
| Financial debts | 170/4 | €1,154,785 | €1,362,658 | +€207,872 | +18.0% |
| Amounts payable within one year | 42/48 | €1,155,363 | €1,081,722 | -€73,641 | -6.4% |
| Current portion of amounts payable after more than one year | 42 | €125,911 | €163,109 | +€37,198 | +29.5% |
| Trade debts | 44 | €5,475 | €4,510 | -€965 | -17.6% |
| Suppliers | 440/4 | €5,475 | €4,510 | -€965 | -17.6% |
| Taxes, remuneration and social security | 45 | €30,550 | €33,745 | +€3,194 | +10.5% |
| Taxes | 450/3 | €30,550 | €33,745 | +€3,194 | +10.5% |
| Other amounts payable | 47/48 | €993,427 | €880,358 | -€113,069 | -11.4% |
| Accrued charges and deferred income | 492/3 | €8,172 | €6,798 | -€1,374 | -16.8% |
| Non-recurring operating income | 76A | - | €107,303 | +€107,303 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101,682 | €114,051 | +€12,369 | +12.2% |
| Other operating charges | 640/8 | €13,252 | €35,119 | +€21,867 | +165% |
| Non-recurring operating charges | 66A | - | €63,211 | +€63,211 | |
| Gross operating margin | 9900 | €1,443,501 | €1,329,751 | -€113,750 | -7.9% |
| Operating profit (loss) | 9901 | €1,328,567 | €1,117,370 | -€211,197 | -15.9% |
| Financial income | 75/76B | €6,735 | €8,509 | +€1,774 | +26.3% |
| Recurring financial income | 75 | €6,735 | €8,509 | +€1,774 | +26.3% |
| Financial charges | 65/66B | €25,188 | €34,796 | +€9,609 | +38.1% |
| Recurring financial charges | 65 | €25,188 | €34,796 | +€9,609 | +38.1% |
| Profit (loss) for the period before taxes | 9903 | €1,310,114 | €1,091,083 | -€219,031 | -16.7% |
| Income taxes | 67/77 | €336,391 | €280,113 | -€56,278 | -16.7% |
| Profit (loss) for the period | 9904 | €973,724 | €810,970 | -€162,754 | -16.7% |
| Profit (loss) for the period to be appropriated | 9905 | €973,724 | €810,970 | -€162,754 | -16.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.