NAMUR BOVESSE: 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.
NAMUR BOVESSE
Largest movements
- Current investments -€1.6m
down €1.6m (-49.9%), from €3.3m to €1.6m
- Receivables within one year -€137,304
down €137,304 (-38.8%), from €353,863 to €216,558
of which Trade receivables: -€186,992
- Tangible fixed assets -€91,549
down €91,549 (-3.1%), from €3.0m to €2.9m
of which Land and buildings: -€90,716
- Other debts -€2.0m
down €2.0m (-99.6%), from €2.0m to €8,905
- Profit (loss) carried forward +€347,781
up €347,781 (+112%), from €311,104 to €658,884
- Accrued charges and deferred income -€217,878
down €217,878 (-70.4%), from €309,292 to €91,414
- Gross operating margin +€160,586
up €160,586 (+21.5%), from €746,534 to €907,121
- Financial income -€53,114
down €53,114 (-51.3%), from €103,445 to €50,332
- Taxes +€24,469
up €24,469 (+26.8%), from €91,458 to €115,927
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 | €6,711,069 | €4,820,311 | -€1.9m | -28.2% |
| Fixed assets | 21/28 | €2,992,706 | €2,901,157 | -€91,549 | -3.1% |
| Tangible fixed assets | 22/27 | €2,992,706 | €2,901,157 | -€91,549 | -3.1% |
| Land and buildings | 22 | €2,989,029 | €2,898,312 | -€90,716 | -3.0% |
| Plant, machinery and equipment | 23 | €3,677 | €2,844 | -€833 | -22.6% |
| Current assets | 29/58 | €3,718,364 | €1,919,154 | -€1.8m | -48.4% |
| Amounts receivable within one year | 40/41 | €353,863 | €216,558 | -€137,304 | -38.8% |
| Trade receivables | 40 | €283,542 | €96,550 | -€186,992 | -65.9% |
| Other amounts receivable | 41 | €70,321 | €120,009 | +€49,688 | +70.7% |
| Current investments | 50/53 | €3,275,000 | €1,640,000 | -€1.6m | -49.9% |
| Cash at bank and in hand | 54/58 | €69,274 | €55,916 | -€13,358 | -19.3% |
| Deferred charges and accrued income | 490/1 | €20,227 | €6,679 | -€13,547 | -67.0% |
| Total equity and liabilities | 10/49 | €6,711,069 | €4,820,311 | -€1.9m | -28.2% |
| Equity | 10/15 | €1,683,230 | €2,031,010 | +€347,781 | +20.7% |
| Contributions | 10/11 | €1,247,387 | €1,247,387 | = | 0.0% |
| Capital | 10 | €1,247,387 | €1,247,387 | = | 0.0% |
| Issued capital | 100 | €1,247,387 | €1,247,387 | = | 0.0% |
| Reserves | 13 | €124,739 | €124,739 | = | 0.0% |
| Non-distributable reserves | 130/1 | €124,739 | €124,739 | = | 0.0% |
| Legal reserve | 130 | €124,739 | €124,739 | = | 0.0% |
| Profit (loss) carried forward | 14 | €311,104 | €658,884 | +€347,781 | +112% |
| Amounts payable | 17/49 | €5,027,840 | €2,789,300 | -€2.2m | -44.5% |
| Amounts payable after more than one year | 17 | €2,680,000 | €2,680,000 | = | 0.0% |
| Financial debts | 170/4 | €2,680,000 | €2,680,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,038,548 | €17,886 | -€2.0m | -99.1% |
| Trade debts | 44 | €29,643 | €8,982 | -€20,662 | -69.7% |
| Suppliers | 440/4 | €29,643 | €8,982 | -€20,662 | -69.7% |
| Other amounts payable | 47/48 | €2,008,905 | €8,905 | -€2.0m | -99.6% |
| Accrued charges and deferred income | 492/3 | €309,292 | €91,414 | -€217,878 | -70.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €271,561 | €274,105 | +€2,544 | +0.9% |
| Other operating charges | 640/8 | €82,840 | €85,434 | +€2,593 | +3.1% |
| Gross operating margin | 9900 | €746,534 | €907,121 | +€160,586 | +21.5% |
| Operating profit (loss) | 9901 | €392,133 | €547,582 | +€155,448 | +39.6% |
| Financial income | 75/76B | €103,445 | €50,332 | -€53,114 | -51.3% |
| Recurring financial income | 75 | €103,445 | €50,332 | -€53,114 | -51.3% |
| Financial charges | 65/66B | €134,335 | €134,206 | -€129 | -0.1% |
| Recurring financial charges | 65 | €134,335 | €134,206 | -€129 | -0.1% |
| Profit (loss) for the period before taxes | 9903 | €361,244 | €463,708 | +€102,464 | +28.4% |
| Income taxes | 67/77 | €91,458 | €115,927 | +€24,469 | +26.8% |
| Profit (loss) for the period | 9904 | €269,786 | €347,781 | +€77,995 | +28.9% |
| Profit (loss) for the period to be appropriated | 9905 | €269,786 | €347,781 | +€77,995 | +28.9% |
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 25 October 2026 via checked.be.