BOGAERTS & PARTNERS: 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 & PARTNERS
Largest movements
- Receivables within one year -€20,676
down €20,676 (-52.3%), from €39,543 to €18,867
of which Other amounts receivable: -€18,542
- Deferred charges and accrued income +€6,617
up €6,617 (+177%), from €3,731 to €10,348
- Tangible fixed assets +€2,575
up €2,575 (+1.3%), from €200,707 to €203,282
of which Leasing and similar rights: +€53,801
- Reserves -€24,046
down €24,046 (-45.4%), from €52,959 to €28,913
of which Distributable reserves: -€24,046
- Current portion of long-term debt +€17,521
up €17,521 (+80.6%), from €21,750 to €39,271
- Debts after one year +€13,584
up €13,584 (+13.0%), from €104,570 to €118,154
- Profit (loss) carried forward -€12,990
down €12,990, from €0 to -€12,990
- Trade debts -€3,328
down €3,328 (-13.6%), from €24,507 to €21,179
- Gross operating margin -€56,641
down €56,641 (-55.6%), from €101,878 to €45,236
- Taxes -€5,862
down €5,862 (-86.1%), from €6,808 to €947
- Depreciation +€5,385
up €5,385 (+10.0%), from €53,900 to €59,286
- Financial charges +€3,589
up €3,589 (+36.8%), from €9,744 to €13,333
- Other operating charges +€1,561
up €1,561 (+18.7%), from €8,371 to €9,932
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 | €244,040 | €234,691 | -€9,349 | -3.8% |
| Fixed assets | 21/28 | €200,707 | €203,282 | +€2,575 | +1.3% |
| Tangible fixed assets | 22/27 | €200,707 | €203,282 | +€2,575 | +1.3% |
| Plant, machinery and equipment | 23 | €12,418 | €2,306 | -€10,113 | -81.4% |
| Furniture and vehicles | 24 | €13,897 | €13,813 | -€84 | -0.6% |
| Leasing and similar rights | 25 | - | €53,801 | +€53,801 | |
| Other tangible fixed assets | 26 | €174,392 | €133,363 | -€41,029 | -23.5% |
| Current assets | 29/58 | €43,332 | €31,409 | -€11,923 | -27.5% |
| Amounts receivable within one year | 40/41 | €39,543 | €18,867 | -€20,676 | -52.3% |
| Trade receivables | 40 | €2,134 | €0 | -€2,134 | -100% |
| Other amounts receivable | 41 | €37,409 | €18,867 | -€18,542 | -49.6% |
| Current investments | 50/53 | €0 | €0 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €58 | €2,194 | +€2,135 | +3,654% |
| Deferred charges and accrued income | 490/1 | €3,731 | €10,348 | +€6,617 | +177% |
| Total equity and liabilities | 10/49 | €244,040 | €234,691 | -€9,349 | -3.8% |
| Equity | 10/15 | €71,559 | €34,523 | -€37,036 | -51.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €52,959 | €28,913 | -€24,046 | -45.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €52,959 | €28,913 | -€24,046 | -45.4% |
| Profit (loss) carried forward | 14 | €0 | -€12,990 | -€12,990 | |
| Amounts payable | 17/49 | €172,481 | €200,168 | +€27,687 | +16.1% |
| Amounts payable after more than one year | 17 | €104,570 | €118,154 | +€13,584 | +13.0% |
| Financial debts | 170/4 | €104,570 | €118,154 | +€13,584 | +13.0% |
| Amounts payable within one year | 42/48 | €61,005 | €77,242 | +€16,237 | +26.6% |
| Current portion of amounts payable after more than one year | 42 | €21,750 | €39,271 | +€17,521 | +80.6% |
| Financial debts | 43 | €7,247 | €9,210 | +€1,963 | +27.1% |
| Credit institutions | 430/8 | €7,247 | €9,210 | +€1,963 | +27.1% |
| Trade debts | 44 | €24,507 | €21,179 | -€3,328 | -13.6% |
| Suppliers | 440/4 | €24,507 | €21,179 | -€3,328 | -13.6% |
| Taxes, remuneration and social security | 45 | €7,501 | €7,582 | +€81 | +1.1% |
| Taxes | 450/3 | €7,501 | €7,582 | +€81 | +1.1% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €6,906 | €4,772 | -€2,134 | -30.9% |
| Non-recurring operating income | 76A | €62,500 | €0 | -€62,500 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,900 | €59,286 | +€5,385 | +10.0% |
| Other operating charges | 640/8 | €8,371 | €9,932 | +€1,561 | +18.7% |
| Gross operating margin | 9900 | €101,878 | €45,236 | -€56,641 | -55.6% |
| Operating profit (loss) | 9901 | €39,607 | -€23,982 | -€63,588 | |
| Financial income | 75/76B | €30 | €1,225 | +€1,195 | +3,989% |
| Recurring financial income | 75 | €30 | €1,225 | +€1,195 | +3,989% |
| Financial charges | 65/66B | €9,744 | €13,333 | +€3,589 | +36.8% |
| Recurring financial charges | 65 | €9,744 | €13,333 | +€3,589 | +36.8% |
| Profit (loss) for the period before taxes | 9903 | €29,893 | -€36,089 | -€65,982 | |
| Income taxes | 67/77 | €6,808 | €947 | -€5,862 | -86.1% |
| Profit (loss) for the period | 9904 | €23,084 | -€37,036 | -€60,120 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,084 | -€37,036 | -€60,120 |
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 30 October 2026 via checked.be.