BOGAERT CONSULTANCY
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 29-06-2026 at the NBB all 5 filings
Turnover
≈ €140,000
Estimated: probably between €100,000 and €220,000
Total assets
€3.0m▲ 10.7%
2024 · €2.7m
Net result
€320,504▲ 409%
2024 · €63,007
Working capital
€590,039▲ 121%
2024 · €267,345
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
€68,038
▼ 20.8%
2025
20212025
Net result
€320,504
▲ 409%
2025
highest quarter of the sector
20212025
Equity
€2.9m
▲ 12.5%
2025
highest quarter of the sector
20212025
Total assets
€3.0m
▲ 10.7%
2025
highest quarter of the sector
20212025
Debt
€61,380
▼ 35.8%
2025
20212025
Working capital
€590,039
▲ 121%
2025
highest quarter of the sector
20212025
Solvency
97.9%
▲ 1.5pp
2025
highest quarter of the sector
20212025
Current ratio
10.62
▲ 6.82
2025
highest quarter of the sector
20212025
Return on assets (ROA)
10.9%
▲ 8.5pp
2025
middle half of the sector
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result-€0.002m--€0.005m▼ 226%-€0.006m▼ 17.8%€0.09m€0.07m▼ 20.8%
Net result-€242below the sector's middle half--€0.005mbelow the sector's middle half▼ 2,131%€0.3mabove the sector's middle half€0.06mwithin the sector's middle half▼ 76.8%€0.3mabove the sector's middle half▲ 409%
Equity€0.02mbelow the sector's middle half-€0.01mbelow the sector's middle half▼ 27.3%€2.5mabove the sector's middle half▲ 174×€2.6mabove the sector's middle half▲ 2.5%€2.9mabove the sector's middle half▲ 12.5%
Total assets€0.1mbelow the sector's middle half-€0.09mbelow the sector's middle half▼ 27.5%€2.5mwithin the sector's middle half▲ 30×€2.7mwithin the sector's middle half▲ 4.8%€3.0mabove the sector's middle half▲ 10.7%
Debt€0.1m-€0.07m▼ 27.6%€0.04m▼ 49.2%€0.1m▲ 164%€0.06m▼ 35.8%
Working capital-€0.05mwithin the sector's middle half--€0.06mwithin the sector's middle half▼ 15.2%€0.2mwithin the sector's middle half€0.3mwithin the sector's middle half▲ 31.6%€0.6mabove the sector's middle half▲ 121%
Solvency16.7%below the sector's middle half-16.8%below the sector's middle half▲ 0.1pp98.6%above the sector's middle half▲ 81.8pp96.4%above the sector's middle half▼ 2.2pp97.9%above the sector's middle half▲ 1.5pp
Current ratio0.43below the sector's middle half-0.12below the sector's middle half▼ 0.316.78above the sector's middle half▲ 6.663.80within the sector's middle half▼ 2.9910.62above the sector's middle half▲ 6.82
Return on assets (ROA)-0.2%below the sector's middle half--6.3%below the sector's middle half▼ 6.1pp10.7%within the sector's middle half▲ 17.0pp2.4%within the sector's middle half▼ 8.3pp10.9%within the sector's middle half▲ 8.5pp
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 21% lower than in 2024.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.9m
Fixed assets
€2.3m =
Current assets
€651,381 ▲ 79.5%
Equity and liabilities €3.0m
Equity
€2.9m ▲ 12.5%
Debt
€61,380 ▼ 35.8%
Debt's share of the balance-sheet total falls from 3.6% to 2.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€70,202▼
2024 · €88,189
Cash flow
€322,669▲
2024 · €65,298
Debt to equity
0.02▼
2024 · 0.04
ROE
11.1%▲
2024 · 2.5%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€61,343▼
2024 · €95,587
Income taxes
€49,608▲
2024 · €23,001
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Financial fixed assets | €75,000 | - | €2.2m | - | - |
| Depreciation and write-downs of the year | €802 | €711 | €785 | €2,291 | €2,165 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €802 | €711 | €785 | €2,291 | €2,165 | ▼ 5.5% |
| Other operating charges640/8 | €845 | €619 | €716 | €1,947 | €2,340 | ▲ 20.2% |
| Gross operating margin9900 | - | -€4,039 | -€4,821 | €90,136 | €72,542 | ▼ 19.5% |
| Operating profit (loss)9901 | -€1,647 | -€5,369 | -€6,322 | €85,897 | €68,038 | ▼ 20.8% |
| Financial income75/76B | €5,000 | €0 | €305,839 | €229 | €302,262 | ▲ 1,317× |
| Recurring financial income75 | €5,000 | €0 | €305,839 | €229 | €302,262 | ▲ 1,317× |
| Financial charges65/66B | €3,595 | €25 | €1,069 | €119 | €187 | ▲ 57.3% |
| Recurring financial charges65 | €3,595 | €25 | €1,069 | €119 | €187 | ▲ 57.3% |
| Profit (loss) for the period before taxes9903 | -€242 | -€5,394 | €298,447 | €86,008 | €370,113 | ▲ 330% |
| Income taxes67/77 | - | - | €26,619 | €23,001 | €49,608 | ▲ 116% |
| Profit (loss) for the period9904 | -€242 | -€5,394 | €271,828 | €63,007 | €320,504 | ▲ 409% |
| Profit (loss) for the period to be appropriated9905 | -€242 | -€5,394 | €271,828 | €63,007 | €320,504 | ▲ 409% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €0.1m | €0.09m | €2.5m | €2.7m | €3.0m | ▲ 10.7% |
| Formation expenses20 | €0.003m | €0.002m | €0.009m | €0.007m | €0.005m | ▼ 31.5% |
| Fixed assets21/28 | €0.08m | €0.08m | €2.3m | €2.3m | €2.3m | = |
| Financial fixed assets28 | €0.08m | €0.08m | €2.3m | €2.3m | €2.3m | = |
| Current assets29/58 | €0.04m | €0.008m | €0.2m | €0.4m | €0.7m | ▲ 79.5% |
| Amounts receivable within one year40/41 | €0.002m | €0 | €0.2m | €0.08m | €0.1m | ▲ 19.0% |
| Trade receivables40 | - | - | - | €0.001m | €0 | ▼ 100% |
| Other amounts receivable41 | €0.002m | €0 | €0.2m | €0.08m | €0.1m | ▲ 19.8% |
| Cash at bank and in hand54/58 | €0.04m | €0.008m | €199 | €0.3m | €0.6m | ▲ 96.3% |
| Deferred charges and accrued income490/1 | - | €199 | €199 | €399 | €0.002m | ▲ 518% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €0.1m | €0.09m | €2.5m | €2.7m | €3.0m | ▲ 10.7% |
| Equity10/15 | €0.02m | €0.01m | €2.5m | €2.6m | €2.9m | ▲ 12.5% |
| Contributions10/11 | €0.02m | €0.02m | €2.2m | €2.2m | €2.2m | = |
| Reserves13 | - | - | €0.3m | €0.3m | €0.6m | ▲ 97.4% |
| Distributable reserves133 | - | - | €0.3m | €0.3m | €0.6m | ▲ 97.4% |
| Profit (loss) carried forward14 | -€242 | -€0.006m | €0 | - | - | - |
| Amounts payable17/49 | €0.1m | €0.07m | €0.04m | €0.1m | €0.06m | ▼ 35.8% |
| Amounts payable within one year42/48 | €0.09m | €0.07m | €0.04m | €0.1m | €0.06m | ▼ 35.8% |
| Trade debts44 | €150 | €150 | €0.008m | €0.04m | €0.03m | ▼ 26.3% |
| Suppliers440/4 | €150 | €150 | €0.008m | €0.04m | €0.03m | ▼ 26.3% |
| Taxes, remuneration and social security45 | - | - | €0.03m | €0.05m | €0.03m | ▼ 36.8% |
| Taxes450/3 | - | - | €0.03m | €0.05m | €0.03m | ▼ 43.3% |
| Remuneration and social security454/9 | - | - | - | €0.007m | €0.007m | ▲ 7.7% |
| Other amounts payable47/48 | €0.09m | €0.07m | €0 | €0.006m | €0.001m | ▼ 87.6% |
| Accrued charges and deferred income492/3 | €0.004m | €0 | €0.001m | €13 | €37 | ▲ 190% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€242 | -€0.005m | €0.3m | €0.06m | €0.3m | ▲ 409% |
| + Depreciation and write-downs630 | €0.001m | €0.001m | €0.001m | €0.002m | €0.002m | ▼ 5.5% |
| Operating cash flow (approximation) | €0.001m | -€0.005m | €0.3m | €0.07m | €0.3m | ▲ 394% |
| Investment in fixed assets (approximation) | - | -€0.001m | -€2.2m | -€0.002m | -€0.002m | ▲ 5.5% |
| Change in cash | - | -€0.03m | -€0.008m | €0.3m | €0.3m | ▼ 3.6% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 29-06-2026 | 2026-00257962 | |
| 31-12-2024 | abbreviated format | 30-06-2025 | 2025-00239092 | |
| 31-12-2023 | abbreviated format | 01-07-2024 | 2024-00197149 | |
| 31-12-2022 | abbreviated format | 26-06-2023 | 2023-00165040 | |
| 31-12-2021 | abbreviated format | 04-07-2022 | 2022-20162368 |