BOGAERTS Danny: 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.
BOGAERTS Danny
Largest movements
- Tangible fixed assets -€197,767
down €197,767 (-29.5%), from €669,798 to €472,031
- Stocks and contracts +€17,913
up €17,913 (+32.9%), from €54,389 to €72,302
- Deferred charges and accrued income +€16,357
up €16,357 (+64.6%), from €25,303 to €41,660
- Receivables within one year -€15,795
down €15,795 (-10.5%), from €149,902 to €134,107
of which Trade receivables: -€16,275
- Debts after one year -€123,028
down €123,028 (-34.3%), from €358,217 to €235,188
- Other debts -€26,461
down €26,461 (-30.0%), from €88,057 to €61,596
- Current portion of long-term debt -€18,316
down €18,316 (-12.2%), from €149,751 to €131,435
- Profit (loss) carried forward -€15,175
down €15,175 (-12.6%), from -€120,652 to -€135,828
- Gross operating margin +€155,110
up €155,110 (+34.1%), from €454,397 to €609,507
- Staff costs +€50,853
up €50,853 (+29.0%), from €175,599 to €226,452
- Other operating charges +€44,587
up €44,587 (+198%), from €22,565 to €67,152
- Depreciation -€32,014
down €32,014 (-16.6%), from €192,532 to €160,518
- Financial charges -€15,721
down €15,721 (-8.4%), from €186,220 to €170,499
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 | €1,244,215 | €1,058,248 | -€185,967 | -14.9% |
| Fixed assets | 21/28 | €669,798 | €472,031 | -€197,767 | -29.5% |
| Tangible fixed assets | 22/27 | €669,798 | €472,031 | -€197,767 | -29.5% |
| Plant, machinery and equipment | 23 | €212,962 | €124,453 | -€88,510 | -41.6% |
| Furniture and vehicles | 24 | €93,587 | €67,279 | -€26,308 | -28.1% |
| Leasing and similar rights | 25 | €363,249 | €275,584 | -€87,664 | -24.1% |
| Other tangible fixed assets | 26 | - | €4,716 | +€4,716 | |
| Current assets | 29/58 | €574,417 | €586,217 | +€11,800 | +2.1% |
| Stocks and contracts in progress | 3 | €54,389 | €72,302 | +€17,913 | +32.9% |
| Stocks | 30/36 | €54,389 | €72,302 | +€17,913 | +32.9% |
| Amounts receivable within one year | 40/41 | €149,902 | €134,107 | -€15,795 | -10.5% |
| Trade receivables | 40 | €125,131 | €108,856 | -€16,275 | -13.0% |
| Other amounts receivable | 41 | €24,772 | €25,251 | +€479 | +1.9% |
| Cash at bank and in hand | 54/58 | €344,823 | €338,147 | -€6,675 | -1.9% |
| Deferred charges and accrued income | 490/1 | €25,303 | €41,660 | +€16,357 | +64.6% |
| Total equity and liabilities | 10/49 | €1,244,215 | €1,058,248 | -€185,967 | -14.9% |
| Equity | 10/15 | €524,893 | €509,439 | -€15,455 | -2.9% |
| Contributions | 10/11 | €9,011 | €9,011 | = | 0.0% |
| Reserves | 13 | €627,986 | €627,986 | = | 0.0% |
| Distributable reserves | 133 | €627,986 | €627,986 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€120,652 | -€135,828 | -€15,175 | -12.6% |
| Investment grants | 15 | €8,549 | €8,269 | -€279 | -3.3% |
| Provisions and deferred taxes | 16 | €3,572 | €3,424 | -€147 | -4.1% |
| Deferred taxes | 168 | €3,572 | €3,424 | -€147 | -4.1% |
| Amounts payable | 17/49 | €715,750 | €545,385 | -€170,365 | -23.8% |
| Amounts payable after more than one year | 17 | €358,217 | €235,188 | -€123,028 | -34.3% |
| Financial debts | 170/4 | €358,217 | €235,188 | -€123,028 | -34.3% |
| Amounts payable within one year | 42/48 | €355,435 | €297,133 | -€58,301 | -16.4% |
| Current portion of amounts payable after more than one year | 42 | €149,751 | €131,435 | -€18,316 | -12.2% |
| Trade debts | 44 | €70,114 | €63,560 | -€6,553 | -9.3% |
| Suppliers | 440/4 | €70,114 | €63,560 | -€6,553 | -9.3% |
| Taxes, remuneration and social security | 45 | €47,513 | €40,541 | -€6,971 | -14.7% |
| Taxes | 450/3 | €30,658 | €19,244 | -€11,414 | -37.2% |
| Remuneration and social security | 454/9 | €16,854 | €21,297 | +€4,443 | +26.4% |
| Other amounts payable | 47/48 | €88,057 | €61,596 | -€26,461 | -30.0% |
| Accrued charges and deferred income | 492/3 | €2,099 | €13,063 | +€10,964 | +522% |
| Remuneration, social security and pensions | 62 | €175,599 | €226,452 | +€50,853 | +29.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €192,532 | €160,518 | -€32,014 | -16.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,113 | €2,294 | +€1,181 | +106% |
| Other operating charges | 640/8 | €22,565 | €67,152 | +€44,587 | +198% |
| Gross operating margin | 9900 | €454,397 | €609,507 | +€155,110 | +34.1% |
| Operating profit (loss) | 9901 | €62,587 | €153,091 | +€90,504 | +145% |
| Financial income | 75/76B | €3,368 | €3,001 | -€367 | -10.9% |
| Recurring financial income | 75 | €3,368 | €3,001 | -€367 | -10.9% |
| Financial charges | 65/66B | €186,220 | €170,499 | -€15,721 | -8.4% |
| Recurring financial charges | 65 | €186,220 | €170,499 | -€15,721 | -8.4% |
| Profit (loss) for the period before taxes | 9903 | -€120,265 | -€14,406 | +€105,858 | +88.0% |
| Transfer from deferred taxes | 780 | €149 | €147 | -€2 | -1.2% |
| Income taxes | 67/77 | €977 | €916 | -€61 | -6.2% |
| Profit (loss) for the period | 9904 | -€121,092 | -€15,175 | +€105,917 | +87.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€121,092 | -€15,175 | +€105,917 | +87.5% |
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 21 October 2026 via checked.be.