JOHAN BOVEN: 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.
JOHAN BOVEN
Largest movements
- Receivables after one year -€75,000
no longer reported in 2025 (was €75,000)
- Receivables within one year +€56,341
up €56,341 (+74.2%), from €75,950 to €132,291
of which Other amounts receivable: +€56,302
- Current investments -€26,227
no longer reported in 2025 (was €26,227)
- Cash +€23,906
up €23,906 (+732%), from €3,267 to €27,173
mainly Receivables after one year (+€75,000) and Current investments (+€26,227)
- Tangible fixed assets +€2,716
up €2,716 (+18.4%), from €14,735 to €17,452
of which Furniture and vehicles: +€11,673
- Other debts -€20,000
down €20,000 (-50.0%), from €40,000 to €20,000
- Profit (loss) carried forward +€19,022
up €19,022 (+93.8%), from -€20,279 to -€1,257
- Current portion of long-term debt -€7,970
down €7,970 (-58.7%), from €13,570 to €5,600
- Debts after one year -€5,600
down €5,600 (-23.5%), from €23,800 to €18,200
- Gross operating margin -€21,095
down €21,095 (-26.6%), from €79,213 to €58,118
- Financial income +€5,584
up €5,584 (+177%), from €3,159 to €8,744
- Taxes -€4,567
down €4,567 (-48.1%), from €9,494 to €4,927
- Other operating charges -€2,630
down €2,630 (-72.4%), from €3,634 to €1,005
- Financial charges -€1,286
down €1,286 (-38.6%), from €3,333 to €2,047
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 | €196,239 | €178,155 | -€18,084 | -9.2% |
| Fixed assets | 21/28 | €14,735 | €17,452 | +€2,716 | +18.4% |
| Tangible fixed assets | 22/27 | €14,735 | €17,452 | +€2,716 | +18.4% |
| Furniture and vehicles | 24 | €1,900 | €13,573 | +€11,673 | +614% |
| Leasing and similar rights | 25 | €8,253 | - | -€8,253 | |
| Other tangible fixed assets | 26 | €4,582 | €3,878 | -€704 | -15.4% |
| Current assets | 29/58 | €181,504 | €160,703 | -€20,801 | -11.5% |
| Amounts receivable after more than one year | 29 | €75,000 | - | -€75,000 | |
| Other amounts receivable | 291 | €75,000 | - | -€75,000 | |
| Amounts receivable within one year | 40/41 | €75,950 | €132,291 | +€56,341 | +74.2% |
| Trade receivables | 40 | €3,574 | €3,613 | +€39 | +1.1% |
| Other amounts receivable | 41 | €72,376 | €128,678 | +€56,302 | +77.8% |
| Current investments | 50/53 | €26,227 | - | -€26,227 | |
| Cash at bank and in hand | 54/58 | €3,267 | €27,173 | +€23,906 | +732% |
| Deferred charges and accrued income | 490/1 | €1,059 | €1,239 | +€180 | +17.0% |
| Total equity and liabilities | 10/49 | €196,239 | €178,155 | -€18,084 | -9.2% |
| Equity | 10/15 | €88,481 | €107,503 | +€19,022 | +21.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €96,360 | €96,360 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €94,500 | €96,360 | +€1,860 | +2.0% |
| Profit (loss) carried forward | 14 | -€20,279 | -€1,257 | +€19,022 | +93.8% |
| Amounts payable | 17/49 | €107,758 | €70,652 | -€37,107 | -34.4% |
| Amounts payable after more than one year | 17 | €23,800 | €18,200 | -€5,600 | -23.5% |
| Financial debts | 170/4 | €23,800 | €18,200 | -€5,600 | -23.5% |
| Amounts payable within one year | 42/48 | €82,393 | €50,800 | -€31,593 | -38.3% |
| Current portion of amounts payable after more than one year | 42 | €13,570 | €5,600 | -€7,970 | -58.7% |
| Trade debts | 44 | €5,122 | €3,745 | -€1,377 | -26.9% |
| Suppliers | 440/4 | €5,122 | €3,745 | -€1,377 | -26.9% |
| Advances received on contracts in progress | 46 | €2,000 | €1,000 | -€1,000 | -50.0% |
| Taxes, remuneration and social security | 45 | €21,701 | €20,455 | -€1,245 | -5.7% |
| Taxes | 450/3 | €15,180 | €16,467 | +€1,288 | +8.5% |
| Remuneration and social security | 454/9 | €6,521 | €3,988 | -€2,533 | -38.8% |
| Other amounts payable | 47/48 | €40,000 | €20,000 | -€20,000 | -50.0% |
| Accrued charges and deferred income | 492/3 | €1,566 | €1,652 | +€86 | +5.5% |
| Remuneration, social security and pensions | 62 | €26,544 | €27,516 | +€972 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,576 | €12,344 | +€769 | +6.6% |
| Other operating charges | 640/8 | €3,634 | €1,005 | -€2,630 | -72.4% |
| Gross operating margin | 9900 | €79,213 | €58,118 | -€21,095 | -26.6% |
| Operating profit (loss) | 9901 | €37,459 | €17,252 | -€20,207 | -53.9% |
| Financial income | 75/76B | €3,159 | €8,744 | +€5,584 | +177% |
| Recurring financial income | 75 | €3,159 | €8,744 | +€5,584 | +177% |
| Financial charges | 65/66B | €3,333 | €2,047 | -€1,286 | -38.6% |
| Recurring financial charges | 65 | €3,333 | €2,047 | -€1,286 | -38.6% |
| Profit (loss) for the period before taxes | 9903 | €37,285 | €23,949 | -€13,336 | -35.8% |
| Income taxes | 67/77 | €9,494 | €4,927 | -€4,567 | -48.1% |
| Profit (loss) for the period | 9904 | €27,791 | €19,022 | -€8,769 | -31.6% |
| Profit (loss) for the period to be appropriated | 9905 | €27,791 | €19,022 | -€8,769 | -31.6% |
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 22 October 2026 via checked.be.