BOGAERTS MARTINE: 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 MARTINE
Largest movements
- Receivables within one year +€48,506
up €48,506 (+1,244%), from €3,898 to €52,405
of which Trade receivables: +€41,170
- Tangible fixed assets +€4,013
up €4,013 (+14.8%), from €27,131 to €31,144
- Cash +€2,262
up €2,262 (+22.4%), from €10,109 to €12,371
mainly Debts after one year (+€24,704) and Net result for the year (+€15,050)
- Debts after one year +€24,704
new in 2025: €24,704
- Profit (loss) carried forward +€15,050
up €15,050 (+235%), from €6,417 to €21,467
- Current portion of long-term debt +€8,417
new in 2025: €8,417
- Trade debts +€6,205
up €6,205 (+19.3%), from €32,091 to €38,295
- Turnover +€196,532
new in 2025: €196,532
- Purchases and services +€162,294
new in 2025: €162,294
- Gross operating margin +€23,258
up €23,258 (+204%), from €11,395 to €34,653
- Depreciation +€8,315
up €8,315 (+290%), from €2,869 to €11,184
- Other operating charges +€3,108
new in 2025: €3,108
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 | €41,139 | €95,920 | +€54,781 | +133% |
| Fixed assets | 21/28 | €27,131 | €31,144 | +€4,013 | +14.8% |
| Tangible fixed assets | 22/27 | €27,131 | €31,144 | +€4,013 | +14.8% |
| Furniture and vehicles | 24 | €27,131 | €31,144 | +€4,013 | +14.8% |
| Current assets | 29/58 | €14,008 | €64,776 | +€50,769 | +362% |
| Amounts receivable within one year | 40/41 | €3,898 | €52,405 | +€48,506 | +1,244% |
| Trade receivables | 40 | - | €41,170 | +€41,170 | |
| Other amounts receivable | 41 | €3,898 | €11,235 | +€7,337 | +188% |
| Cash at bank and in hand | 54/58 | €10,109 | €12,371 | +€2,262 | +22.4% |
| Total equity and liabilities | 10/49 | €41,139 | €95,920 | +€54,781 | +133% |
| Equity | 10/15 | €7,417 | €22,467 | +€15,050 | +203% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,417 | €21,467 | +€15,050 | +235% |
| Amounts payable | 17/49 | €33,722 | €73,453 | +€39,731 | +118% |
| Amounts payable after more than one year | 17 | - | €24,704 | +€24,704 | |
| Financial debts | 170/4 | - | €24,704 | +€24,704 | |
| Amounts payable within one year | 42/48 | €33,722 | €48,749 | +€15,028 | +44.6% |
| Current portion of amounts payable after more than one year | 42 | - | €8,417 | +€8,417 | |
| Trade debts | 44 | €32,091 | €38,295 | +€6,205 | +19.3% |
| Suppliers | 440/4 | €32,091 | €38,295 | +€6,205 | +19.3% |
| Taxes, remuneration and social security | 45 | €1,631 | €2,037 | +€406 | +24.9% |
| Taxes | 450/3 | €1,631 | €2,037 | +€406 | +24.9% |
| Turnover | 70 | - | €196,532 | +€196,532 | |
| Non-recurring operating income | 76A | - | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €162,294 | +€162,294 | |
| Remuneration, social security and pensions | 62 | €106 | €0 | -€106 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,869 | €11,184 | +€8,315 | +290% |
| Other operating charges | 640/8 | - | €3,108 | +€3,108 | |
| Gross operating margin | 9900 | €11,395 | €34,653 | +€23,258 | +204% |
| Operating profit (loss) | 9901 | €8,420 | €20,362 | +€11,941 | +142% |
| Financial income | 75/76B | - | €343 | +€343 | |
| Recurring financial income | 75 | - | €343 | +€343 | |
| Financial charges | 65/66B | €373 | €1,315 | +€942 | +253% |
| Recurring financial charges | 65 | €373 | €1,315 | +€942 | +253% |
| Profit (loss) for the period before taxes | 9903 | €8,048 | €19,390 | +€11,342 | +141% |
| Income taxes | 67/77 | €1,631 | €4,340 | +€2,709 | +166% |
| Profit (loss) for the period | 9904 | €6,417 | €15,050 | +€8,633 | +135% |
| Profit (loss) for the period to be appropriated | 9905 | €6,417 | €15,050 | +€8,633 | +135% |
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 28 October 2026 via checked.be.