BOGAERTS WELDING SOLUTIONS: 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 WELDING SOLUTIONS
Largest movements
- Receivables within one year -€38,016
down €38,016 (-53.4%), from €71,248 to €33,232
of which Trade receivables: -€40,532
- Cash -€32,460
down €32,460 (-58.1%), from €55,868 to €23,408
mainly Trade debts (-€50,994) and Other debts (-€26,891)
- Stocks and contracts -€5,463
down €5,463 (-3.5%), from €157,395 to €151,932
- Trade debts -€50,994
down €50,994 (-64.5%), from €79,082 to €28,087
- Other debts -€26,891
down €26,891 (-13.0%), from €206,714 to €179,822
- Gross operating margin +€9,232
up €9,232, from -€3,700 to €5,532
- Staff costs -€5,142
no longer reported in 2025 (was €5,142)
- Depreciation -€1,142
down €1,142 (-39.9%), from €2,863 to €1,722
- Other operating charges -€946
down €946 (-30.2%), from €3,129 to €2,183
- Financial charges -€323
down €323 (-14.3%), from €2,257 to €1,934
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 | €290,778 | €213,051 | -€77,727 | -26.7% |
| Fixed assets | 21/28 | €3,133 | €1,411 | -€1,722 | -55.0% |
| Intangible fixed assets | 21 | €10 | - | -€10 | |
| Tangible fixed assets | 22/27 | €3,123 | €1,401 | -€1,722 | -55.1% |
| Land and buildings | 22 | €780 | - | -€780 | |
| Furniture and vehicles | 24 | €2,343 | €1,401 | -€942 | -40.2% |
| Financial fixed assets | 28 | - | €10 | +€10 | |
| Current assets | 29/58 | €287,645 | €211,639 | -€76,006 | -26.4% |
| Stocks and contracts in progress | 3 | €157,395 | €151,932 | -€5,463 | -3.5% |
| Stocks | 30/36 | €157,395 | €151,932 | -€5,463 | -3.5% |
| Amounts receivable within one year | 40/41 | €71,248 | €33,232 | -€38,016 | -53.4% |
| Trade receivables | 40 | €62,074 | €21,542 | -€40,532 | -65.3% |
| Other amounts receivable | 41 | €9,174 | €11,690 | +€2,516 | +27.4% |
| Cash at bank and in hand | 54/58 | €55,868 | €23,408 | -€32,460 | -58.1% |
| Deferred charges and accrued income | 490/1 | €3,134 | €3,067 | -€67 | -2.1% |
| Total equity and liabilities | 10/49 | €290,778 | €213,051 | -€77,727 | -26.7% |
| Equity | 10/15 | -€7,304 | -€7,735 | -€431 | -5.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17,304 | -€17,735 | -€431 | -2.5% |
| Amounts payable | 17/49 | €298,082 | €220,786 | -€77,296 | -25.9% |
| Amounts payable within one year | 42/48 | €298,067 | €220,770 | -€77,297 | -25.9% |
| Financial debts | 43 | €3,536 | €3,525 | -€11 | -0.3% |
| Credit institutions | 430/8 | €3,536 | €3,525 | -€11 | -0.3% |
| Trade debts | 44 | €79,082 | €28,087 | -€50,994 | -64.5% |
| Suppliers | 440/4 | €79,082 | €28,087 | -€50,994 | -64.5% |
| Taxes, remuneration and social security | 45 | €8,735 | €9,335 | +€600 | +6.9% |
| Taxes | 450/3 | €8,735 | €9,335 | +€600 | +6.9% |
| Other amounts payable | 47/48 | €206,714 | €179,822 | -€26,891 | -13.0% |
| Accrued charges and deferred income | 492/3 | €15 | €16 | +€0 | +2.0% |
| Remuneration, social security and pensions | 62 | €5,142 | - | -€5,142 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,863 | €1,722 | -€1,142 | -39.9% |
| Other operating charges | 640/8 | €3,129 | €2,183 | -€946 | -30.2% |
| Gross operating margin | 9900 | -€3,700 | €5,532 | +€9,232 | |
| Operating profit (loss) | 9901 | -€14,835 | €1,627 | +€16,462 | |
| Financial income | 75/76B | €67 | €11 | -€56 | -84.2% |
| Recurring financial income | 75 | €67 | €11 | -€56 | -84.2% |
| Financial charges | 65/66B | €2,257 | €1,934 | -€323 | -14.3% |
| Recurring financial charges | 65 | €2,257 | €1,934 | -€323 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | -€17,025 | -€297 | +€16,728 | +98.3% |
| Income taxes | 67/77 | €279 | €134 | -€145 | -52.0% |
| Profit (loss) for the period | 9904 | -€17,304 | -€431 | +€16,873 | +97.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,304 | -€431 | +€16,873 | +97.5% |
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 15 October 2026 via checked.be.