BOGAERTS: 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.
BOGAERTS
Largest movements
- Cash -€9,340
down €9,340 (-20.9%), from €44,608 to €35,268
mainly Net result for the year (-€9,450) and Investment in fixed assets (net) (-€4,893)
- Tangible fixed assets +€3,033
up €3,033 (+132.9%), from €2,282 to €5,314
of which Furniture and vehicles: +€4,317
- Stocks and contracts -€1,345
down €1,345 (-70.8%), from €1,900 to €555
- Profit (loss) carried forward -€9,450
down €9,450 (-25.1%), from €37,590 to €28,140
- Trade debts +€1,556
up €1,556 (+33.7%), from €4,621 to €6,177
- Gross operating margin -€3,364
down €3,364 (-90.8%), from -€3,706 to -€7,069
- Other operating charges -€300
down €300 (-39.8%), from €752 to €453
- Depreciation -€167
down €167 (-8.2%), from €2,027 to €1,860
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 | €52,843 | €44,808 | -€8,034 | -15.2% |
| Fixed assets | 21/28 | €2,459 | €5,491 | +€3,033 | +123.3% |
| Tangible fixed assets | 22/27 | €2,282 | €5,314 | +€3,033 | +132.9% |
| Plant, machinery and equipment | 23 | €1,937 | €653 | -€1,284 | -66.3% |
| Furniture and vehicles | 24 | €345 | €4,662 | +€4,317 | +1252.9% |
| Financial fixed assets | 28 | €177 | €177 | = | 0.0% |
| Current assets | 29/58 | €50,384 | €39,317 | -€11,067 | -22.0% |
| Stocks and contracts in progress | 3 | €1,900 | €555 | -€1,345 | -70.8% |
| Stocks | 30/36 | €1,900 | €555 | -€1,345 | -70.8% |
| Amounts receivable within one year | 40/41 | €2,705 | €2,264 | -€441 | -16.3% |
| Trade receivables | 40 | €1,302 | €885 | -€417 | -32.0% |
| Other amounts receivable | 41 | €1,403 | €1,379 | -€23 | -1.7% |
| Cash at bank and in hand | 54/58 | €44,608 | €35,268 | -€9,340 | -20.9% |
| Deferred charges and accrued income | 490/1 | €1,171 | €1,229 | +€58 | +5.0% |
| Total equity and liabilities | 10/49 | €52,843 | €44,808 | -€8,034 | -15.2% |
| Equity | 10/15 | €47,590 | €38,140 | -€9,450 | -19.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €37,590 | €28,140 | -€9,450 | -25.1% |
| Amounts payable | 17/49 | €5,253 | €6,668 | +€1,416 | +26.9% |
| Amounts payable within one year | 42/48 | €5,253 | €6,668 | +€1,416 | +26.9% |
| Trade debts | 44 | €4,621 | €6,177 | +€1,556 | +33.7% |
| Suppliers | 440/4 | €4,621 | €6,177 | +€1,556 | +33.7% |
| Taxes, remuneration and social security | 45 | €150 | €150 | = | 0.0% |
| Taxes | 450/3 | €150 | €150 | = | 0.0% |
| Other amounts payable | 47/48 | €482 | €342 | -€140 | -29.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,027 | €1,860 | -€167 | -8.2% |
| Other operating charges | 640/8 | €752 | €453 | -€300 | -39.8% |
| Gross operating margin | 9900 | -€3,706 | -€7,069 | -€3,364 | -90.8% |
| Operating profit (loss) | 9901 | -€6,485 | -€9,382 | -€2,897 | -44.7% |
| Financial charges | 65/66B | €72 | €68 | -€5 | -6.6% |
| Recurring financial charges | 65 | €72 | €68 | -€5 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | -€6,558 | -€9,450 | -€2,893 | -44.1% |
| Profit (loss) for the period | 9904 | -€6,558 | -€9,450 | -€2,893 | -44.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,558 | -€9,450 | -€2,893 | -44.1% |
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 6 October 2026 via checked.be.