BOGAERT: what changed
Two fiscal 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.
BOGAERT
Largest movements
- Cash +€73,757
up €73,757 (+216.0%), from €34,148 to €107,905
mainly Other debts (+€164,116) and Net result for the year (+€63,029)
- Current investments +€50,000
up €50,000 (+8.3%), from €600,000 to €650,000
- Tangible fixed assets -€32,466
down €32,466 (-4.6%), from €709,537 to €677,072
of which Land and buildings: -€32,051
- Other debts +€164,116
new in 2025: €164,116
- Reserves -€101,087
down €101,087 (-8.1%), from €1.3m to €1.2m
of which Distributable reserves: -€101,087
- Tax, wage and social debts +€23,920
up €23,920 (+761.8%), from €3,140 to €27,059
- Financial income -€4,846
down €4,846 (-26.1%), from €18,582 to €13,736
- Taxes +€2,519
up €2,519 (+8.8%), from €28,661 to €31,180
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.
Cash bridge derived
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 | €1,354,896 | €1,441,856 | +€86,959 | +6.4% |
| Fixed assets | 21/28 | €709,552 | €677,087 | -€32,466 | -4.6% |
| Tangible fixed assets | 22/27 | €709,537 | €677,072 | -€32,466 | -4.6% |
| Land and buildings | 22 | €708,599 | €676,548 | -€32,051 | -4.5% |
| Furniture and vehicles | 24 | €939 | €524 | -€415 | -44.2% |
| Financial fixed assets | 28 | €15 | €15 | = | 0.0% |
| Current assets | 29/58 | €645,344 | €764,769 | +€119,425 | +18.5% |
| Amounts receivable within one year | 40/41 | €3,120 | €288 | -€2,832 | -90.8% |
| Trade receivables | 40 | €131 | €0 | -€131 | -100.0% |
| Other amounts receivable | 41 | €2,989 | €288 | -€2,701 | -90.4% |
| Current investments | 50/53 | €600,000 | €650,000 | +€50,000 | +8.3% |
| Cash at bank and in hand | 54/58 | €34,148 | €107,905 | +€73,757 | +216.0% |
| Deferred charges and accrued income | 490/1 | €8,076 | €6,576 | -€1,500 | -18.6% |
| Total equity and liabilities | 10/49 | €1,354,896 | €1,441,856 | +€86,959 | +6.4% |
| Equity | 10/15 | €1,351,648 | €1,250,561 | -€101,087 | -7.5% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €1,253,966 | €1,152,879 | -€101,087 | -8.1% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Distributable reserves | 133 | €1,247,716 | €1,146,629 | -€101,087 | -8.1% |
| Profit (loss) carried forward | 14 | €35,182 | €35,182 | = | 0.0% |
| Amounts payable | 17/49 | €3,248 | €191,295 | +€188,047 | +5788.8% |
| Amounts payable within one year | 42/48 | €3,248 | €191,295 | +€188,047 | +5788.8% |
| Trade debts | 44 | €109 | €119 | +€11 | +9.9% |
| Suppliers | 440/4 | €109 | €119 | +€11 | +9.9% |
| Taxes, remuneration and social security | 45 | €3,140 | €27,059 | +€23,920 | +761.8% |
| Taxes | 450/3 | €3,140 | €27,059 | +€23,920 | +761.8% |
| Other amounts payable | 47/48 | - | €164,116 | +€164,116 | |
| Non-recurring operating income | 76A | €10,979 | €0 | -€10,979 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,618 | €32,466 | -€153 | -0.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€143 | - | +€143 | |
| Other operating charges | 640/8 | €34,871 | €35,965 | +€1,094 | +3.1% |
| Gross operating margin | 9900 | €149,294 | €148,905 | -€390 | -0.3% |
| Operating profit (loss) | 9901 | €81,949 | €80,474 | -€1,475 | -1.8% |
| Financial income | 75/76B | €18,582 | €13,736 | -€4,846 | -26.1% |
| Recurring financial income | 75 | €18,582 | €13,736 | -€4,846 | -26.1% |
| Financial charges | 65/66B | €3 | €1 | -€2 | -70.8% |
| Recurring financial charges | 65 | €3 | €1 | -€2 | -70.8% |
| Profit (loss) for the period before taxes | 9903 | €100,528 | €94,209 | -€6,318 | -6.3% |
| Income taxes | 67/77 | €28,661 | €31,180 | +€2,519 | +8.8% |
| Profit (loss) for the period | 9904 | €71,867 | €63,029 | -€8,838 | -12.3% |
| Profit (loss) for the period to be appropriated | 9905 | €71,867 | €63,029 | -€8,838 | -12.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.