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
- Current investments +€129,000
up €129,000, from €0 to €129,000
- Deferred charges and accrued income +€72,554
up €72,554 (+540.1%), from €13,434 to €85,988
- Cash -€72,448
down €72,448 (-31.8%), from €227,960 to €155,513
mainly Investment in fixed assets (net) (-€154,853) and Current investments (-€129,000)
- Tangible fixed assets +€51,611
up €51,611 (+21.4%), from €240,949 to €292,561
of which Plant, machinery and equipment: +€136,761
- Intangible fixed assets -€10,640
down €10,640 (-40.8%), from €26,097 to €15,457
- Trade debts +€103,760
up €103,760 (+107.4%), from €96,653 to €200,414
- Other debts +€62,153
up €62,153 (+77.0%), from €80,743 to €142,897
- Other operating charges -€19,615
down €19,615 (-95.8%), from €20,482 to €868
- Write-downs +€14,906
up €14,906, from -€14,906 to €0
- Depreciation +€9,221
up €9,221 (+8.8%), from €104,661 to €113,882
- Financial income -€8,314
down €8,314 (-95.0%), from €8,754 to €440
- Staff costs +€7,309
up €7,309 (+7.4%), from €99,344 to €106,653
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 | €834,216 | €1,005,302 | +€171,085 | +20.5% |
| Fixed assets | 21/28 | €267,182 | €308,153 | +€40,971 | +15.3% |
| Intangible fixed assets | 21 | €26,097 | €15,457 | -€10,640 | -40.8% |
| Tangible fixed assets | 22/27 | €240,949 | €292,561 | +€51,611 | +21.4% |
| Plant, machinery and equipment | 23 | €88,855 | €225,616 | +€136,761 | +153.9% |
| Furniture and vehicles | 24 | €152,095 | €66,945 | -€85,150 | -56.0% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €567,035 | €697,149 | +€130,114 | +22.9% |
| Amounts receivable within one year | 40/41 | €325,641 | €326,648 | +€1,008 | +0.3% |
| Trade receivables | 40 | €224,106 | €250,832 | +€26,726 | +11.9% |
| Other amounts receivable | 41 | €101,534 | €75,816 | -€25,718 | -25.3% |
| Current investments | 50/53 | €0 | €129,000 | +€129,000 | |
| Cash at bank and in hand | 54/58 | €227,960 | €155,513 | -€72,448 | -31.8% |
| Deferred charges and accrued income | 490/1 | €13,434 | €85,988 | +€72,554 | +540.1% |
| Total equity and liabilities | 10/49 | €834,216 | €1,005,302 | +€171,085 | +20.5% |
| Equity | 10/15 | €638,764 | €643,603 | +€4,839 | +0.8% |
| Contributions | 10/11 | €12,450 | €12,450 | = | 0.0% |
| Reserves | 13 | €626,314 | €626,314 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,694 | €13,694 | = | 0.0% |
| Reserves not available under the articles | 1311 | €13,694 | €13,694 | = | 0.0% |
| Distributable reserves | 133 | €612,620 | €612,620 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €4,839 | +€4,839 | |
| Amounts payable | 17/49 | €195,452 | €361,699 | +€166,247 | +85.1% |
| Amounts payable within one year | 42/48 | €195,452 | €360,891 | +€165,439 | +84.6% |
| Current portion of amounts payable after more than one year | 42 | €150 | €150 | = | 0.0% |
| Trade debts | 44 | €96,653 | €200,414 | +€103,760 | +107.4% |
| Suppliers | 440/4 | €96,653 | €200,414 | +€103,760 | +107.4% |
| Taxes, remuneration and social security | 45 | €17,906 | €17,431 | -€475 | -2.7% |
| Taxes | 450/3 | €5,228 | €5,411 | +€183 | +3.5% |
| Remuneration and social security | 454/9 | €12,678 | €12,020 | -€658 | -5.2% |
| Other amounts payable | 47/48 | €80,743 | €142,897 | +€62,153 | +77.0% |
| Accrued charges and deferred income | 492/3 | €0 | €808 | +€808 | |
| Remuneration, social security and pensions | 62 | €99,344 | €106,653 | +€7,309 | +7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,661 | €113,882 | +€9,221 | +8.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€14,906 | €0 | +€14,906 | |
| Other operating charges | 640/8 | €20,482 | €868 | -€19,615 | -95.8% |
| Gross operating margin | 9900 | €224,284 | €228,005 | +€3,721 | +1.7% |
| Operating profit (loss) | 9901 | €14,702 | €6,602 | -€8,100 | -55.1% |
| Financial income | 75/76B | €8,754 | €440 | -€8,314 | -95.0% |
| Recurring financial income | 75 | €8,754 | €440 | -€8,314 | -95.0% |
| Financial charges | 65/66B | €1,598 | €989 | -€609 | -38.1% |
| Recurring financial charges | 65 | €1,598 | €989 | -€609 | -38.1% |
| Profit (loss) for the period before taxes | 9903 | €21,858 | €6,053 | -€15,805 | -72.3% |
| Income taxes | 67/77 | €7,398 | €1,215 | -€6,184 | -83.6% |
| Profit (loss) for the period | 9904 | €14,460 | €4,839 | -€9,621 | -66.5% |
| Profit (loss) for the period to be appropriated | 9905 | €14,460 | €4,839 | -€9,621 | -66.5% |
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 8 October 2026 via checked.be.