A.D. Van Bogaert: 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.
A.D. Van Bogaert
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Reserves -€117,324
down €117,324 (-11.8%), from €997,807 to €880,483
- Profit (loss) carried forward +€113,499
up €113,499 (+96.7%), from -€117,324 to -€3,825
- Other debts +€45,949
up €45,949 (+1.6%), from €2.9m to €2.9m
- Financial charges -€733,374
down €733,374 (-100.0%), from €733,413 to €39
of which Non-recurring financial charges: -€733,280
- Depreciation +€40,431
up €40,431 (+121%), from €33,343 to €73,773
- Gross operating margin +€28,900
up €28,900 (+57.4%), from €50,328 to €79,228
- Taxes -€1,715
down €1,715 (-62.9%), from €2,727 to €1,012
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 | €4,107,284 | €4,147,572 | +€40,288 | +1.0% |
| Fixed assets | 21/28 | €4,055,475 | €4,061,312 | +€5,837 | +0.1% |
| Tangible fixed assets | 22/27 | €4,055,475 | €4,061,312 | +€5,837 | +0.1% |
| Land and buildings | 22 | €3,902,779 | €3,903,349 | +€570 | 0.0% |
| Furniture and vehicles | 24 | €152,696 | €157,963 | +€5,267 | +3.4% |
| Current assets | 29/58 | €51,809 | €86,260 | +€34,451 | +66.5% |
| Amounts receivable within one year | 40/41 | €42,000 | €42,000 | = | 0.0% |
| Other amounts receivable | 41 | €42,000 | €42,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €9,809 | €44,260 | +€34,451 | +351% |
| Total equity and liabilities | 10/49 | €4,107,284 | €4,147,572 | +€40,288 | +1.0% |
| Equity | 10/15 | €1,235,483 | €1,231,659 | -€3,825 | -0.3% |
| Contributions | 10/11 | €355,000 | €355,000 | = | 0.0% |
| Reserves | 13 | €997,807 | €880,483 | -€117,324 | -11.8% |
| Distributable reserves | 133 | €997,807 | €880,483 | -€117,324 | -11.8% |
| Profit (loss) carried forward | 14 | -€117,324 | -€3,825 | +€113,499 | +96.7% |
| Amounts payable | 17/49 | €2,871,800 | €2,915,913 | +€44,113 | +1.5% |
| Amounts payable within one year | 42/48 | €2,871,800 | €2,915,913 | +€44,113 | +1.5% |
| Taxes, remuneration and social security | 45 | €2,613 | €777 | -€1,836 | -70.3% |
| Taxes | 450/3 | €2,613 | €777 | -€1,836 | -70.3% |
| Other amounts payable | 47/48 | €2,869,187 | €2,915,136 | +€45,949 | +1.6% |
| Remuneration, social security and pensions | 62 | -€40 | - | +€40 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,343 | €73,773 | +€40,431 | +121% |
| Other operating charges | 640/8 | €10,274 | €9,908 | -€366 | -3.6% |
| Gross operating margin | 9900 | €50,328 | €79,228 | +€28,900 | +57.4% |
| Operating profit (loss) | 9901 | €6,752 | -€4,453 | -€11,205 | |
| Financial income | 75/76B | €1,680 | €1,680 | = | 0.0% |
| Recurring financial income | 75 | €1,680 | €1,680 | = | 0.0% |
| Financial charges | 65/66B | €733,413 | €39 | -€733,374 | -100.0% |
| Recurring financial charges | 65 | €133 | €39 | -€94 | -70.7% |
| Non-recurring financial charges | 66B | €733,280 | - | -€733,280 | |
| Profit (loss) for the period before taxes | 9903 | -€724,981 | -€2,812 | +€722,168 | +99.6% |
| Income taxes | 67/77 | €2,727 | €1,012 | -€1,715 | -62.9% |
| Profit (loss) for the period | 9904 | -€727,708 | -€3,825 | +€723,883 | +99.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€727,708 | -€3,825 | +€723,883 | +99.5% |
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 23 October 2026 via checked.be.