BOVER: 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.
BOVER
Largest movements
- Tangible fixed assets -€45,796
down €45,796 (-8.8%), from €519,524 to €473,727
of which Land and buildings: -€49,364
- Receivables within one year +€15,112
up €15,112 (+9.6%), from €157,910 to €173,022
of which Other amounts receivable: +€23,384
- Debts after one year -€144,478
down €144,478 (-20.1%), from €718,056 to €573,578
- Trade debts +€67,418
up €67,418 (+486%), from €13,884 to €81,302
- Other debts +€46,280
up €46,280 (+41.4%), from €111,808 to €158,088
- Gross operating margin +€25,126
up €25,126 (+32.8%), from €76,698 to €101,824
- Financial charges -€4,647
down €4,647 (-14.5%), from €32,069 to €27,422
- Other operating charges +€2,300
up €2,300 (+27.6%), from €8,322 to €10,622
- Depreciation -€1,440
down €1,440 (-2.3%), from €63,364 to €61,924
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 | €1,228,722 | €1,204,117 | -€24,605 | -2.0% |
| Fixed assets | 21/28 | €1,063,646 | €1,017,850 | -€45,796 | -4.3% |
| Tangible fixed assets | 22/27 | €519,524 | €473,727 | -€45,796 | -8.8% |
| Land and buildings | 22 | €498,903 | €449,539 | -€49,364 | -9.9% |
| Plant, machinery and equipment | 23 | €7,246 | €1,938 | -€5,308 | -73.2% |
| Furniture and vehicles | 24 | €13,375 | €22,250 | +€8,875 | +66.4% |
| Financial fixed assets | 28 | €544,122 | €544,122 | = | 0.0% |
| Current assets | 29/58 | €165,076 | €186,267 | +€21,191 | +12.8% |
| Amounts receivable within one year | 40/41 | €157,910 | €173,022 | +€15,112 | +9.6% |
| Trade receivables | 40 | €8,272 | €0 | -€8,272 | -100% |
| Other amounts receivable | 41 | €149,638 | €173,022 | +€23,384 | +15.6% |
| Cash at bank and in hand | 54/58 | €3,705 | €3,269 | -€436 | -11.8% |
| Deferred charges and accrued income | 490/1 | €3,462 | €9,977 | +€6,515 | +188% |
| Total equity and liabilities | 10/49 | €1,228,722 | €1,204,117 | -€24,605 | -2.0% |
| Equity | 10/15 | €225,420 | €225,926 | +€506 | +0.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €219,220 | €219,726 | +€506 | +0.2% |
| Distributable reserves | 133 | €219,220 | €219,726 | +€506 | +0.2% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €1,003,303 | €978,191 | -€25,112 | -2.5% |
| Amounts payable after more than one year | 17 | €718,056 | €573,578 | -€144,478 | -20.1% |
| Financial debts | 170/4 | €718,056 | €573,578 | -€144,478 | -20.1% |
| Amounts payable within one year | 42/48 | €285,246 | €404,613 | +€119,367 | +41.8% |
| Current portion of amounts payable after more than one year | 42 | €148,638 | €144,478 | -€4,160 | -2.8% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €13,884 | €81,302 | +€67,418 | +486% |
| Suppliers | 440/4 | €13,884 | €81,302 | +€67,418 | +486% |
| Taxes, remuneration and social security | 45 | €10,917 | €20,745 | +€9,828 | +90.0% |
| Taxes | 450/3 | €10,917 | €13,655 | +€2,738 | +25.1% |
| Remuneration and social security | 454/9 | €0 | €7,090 | +€7,090 | |
| Other amounts payable | 47/48 | €111,808 | €158,088 | +€46,280 | +41.4% |
| Non-recurring operating income | 76A | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,364 | €61,924 | -€1,440 | -2.3% |
| Other operating charges | 640/8 | €8,322 | €10,622 | +€2,300 | +27.6% |
| Non-recurring operating charges | 66A | - | €8,888 | +€8,888 | |
| Gross operating margin | 9900 | €76,698 | €101,824 | +€25,126 | +32.8% |
| Operating profit (loss) | 9901 | €5,012 | €20,389 | +€15,377 | +307% |
| Financial income | 75/76B | €7,929 | €8,285 | +€357 | +4.5% |
| Recurring financial income | 75 | €7,929 | €8,285 | +€357 | +4.5% |
| Financial charges | 65/66B | €32,069 | €27,422 | -€4,647 | -14.5% |
| Recurring financial charges | 65 | €32,069 | €27,422 | -€4,647 | -14.5% |
| Profit (loss) for the period before taxes | 9903 | -€19,129 | €1,252 | +€20,381 | |
| Income taxes | 67/77 | €435 | €746 | +€311 | +71.7% |
| Profit (loss) for the period | 9904 | -€19,564 | €506 | +€20,070 | |
| Profit (loss) for the period to be appropriated | 9905 | -€19,564 | €506 | +€20,070 |
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.