Bogaflex: 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.
Bogaflex
Largest movements
- Stocks and contracts -€37,429
down €37,429 (-32.0%), from €117,014 to €79,585
- Intangible fixed assets -€21,366
down €21,366 (-19.1%), from €111,776 to €90,410
- Receivables within one year -€5,122
down €5,122 (-31.5%), from €16,269 to €11,147
of which Other amounts receivable: -€4,488
- Profit (loss) carried forward -€38,507
down €38,507 (-259%), from -€14,858 to -€53,366
- Trade debts -€20,907
down €20,907 (-64.1%), from €32,616 to €11,709
- Other debts +€15,732
up €15,732 (+84.7%), from €18,574 to €34,306
- Debts after one year -€14,166
down €14,166 (-37.0%), from €38,304 to €24,139
- Tax, wage and social debts -€7,711
down €7,711 (-43.5%), from €17,711 to €10,000
of which Taxes: -€5,861
- Gross operating margin -€16,261
down €16,261, from €1,719 to -€14,542
- Financial charges -€1,768
down €1,768 (-43.5%), from €4,063 to €2,295
- Other operating charges +€350
up €350 (+565%), from €62 to €412
- Financial income +€207
new in 2025: €207
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 | €267,357 | €202,032 | -€65,325 | -24.4% |
| Fixed assets | 21/28 | €111,776 | €90,987 | -€20,790 | -18.6% |
| Intangible fixed assets | 21 | €111,776 | €90,410 | -€21,366 | -19.1% |
| Tangible fixed assets | 22/27 | - | €576 | +€576 | |
| Plant, machinery and equipment | 23 | - | €576 | +€576 | |
| Current assets | 29/58 | €155,581 | €111,046 | -€44,535 | -28.6% |
| Stocks and contracts in progress | 3 | €117,014 | €79,585 | -€37,429 | -32.0% |
| Stocks | 30/36 | €117,014 | €79,585 | -€37,429 | -32.0% |
| Amounts receivable within one year | 40/41 | €16,269 | €11,147 | -€5,122 | -31.5% |
| Trade receivables | 40 | €7,133 | €6,499 | -€633 | -8.9% |
| Other amounts receivable | 41 | €9,136 | €4,647 | -€4,488 | -49.1% |
| Cash at bank and in hand | 54/58 | €21,945 | €19,637 | -€2,307 | -10.5% |
| Deferred charges and accrued income | 490/1 | €354 | €677 | +€323 | +91.2% |
| Total equity and liabilities | 10/49 | €267,357 | €202,032 | -€65,325 | -24.4% |
| Equity | 10/15 | €145,460 | €106,953 | -€38,507 | -26.5% |
| Contributions | 10/11 | €21,000 | €21,000 | = | 0.0% |
| Reserves | 13 | €139,318 | €139,318 | = | 0.0% |
| Distributable reserves | 133 | €139,318 | €139,318 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,858 | -€53,366 | -€38,507 | -259% |
| Amounts payable | 17/49 | €121,897 | €95,079 | -€26,818 | -22.0% |
| Amounts payable after more than one year | 17 | €38,304 | €24,139 | -€14,166 | -37.0% |
| Financial debts | 170/4 | €38,304 | €24,139 | -€14,166 | -37.0% |
| Amounts payable within one year | 42/48 | €82,833 | €70,181 | -€12,652 | -15.3% |
| Current portion of amounts payable after more than one year | 42 | €13,932 | €14,166 | +€233 | +1.7% |
| Trade debts | 44 | €32,616 | €11,709 | -€20,907 | -64.1% |
| Suppliers | 440/4 | €32,616 | €11,709 | -€20,907 | -64.1% |
| Taxes, remuneration and social security | 45 | €17,711 | €10,000 | -€7,711 | -43.5% |
| Taxes | 450/3 | €15,861 | €10,000 | -€5,861 | -37.0% |
| Remuneration and social security | 454/9 | €1,850 | - | -€1,850 | |
| Other amounts payable | 47/48 | €18,574 | €34,306 | +€15,732 | +84.7% |
| Accrued charges and deferred income | 492/3 | €760 | €760 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,366 | €21,465 | +€99 | +0.5% |
| Other operating charges | 640/8 | €62 | €412 | +€350 | +565% |
| Gross operating margin | 9900 | €1,719 | -€14,542 | -€16,261 | |
| Operating profit (loss) | 9901 | -€19,709 | -€36,419 | -€16,710 | -84.8% |
| Financial income | 75/76B | - | €207 | +€207 | |
| Recurring financial income | 75 | - | €207 | +€207 | |
| Financial charges | 65/66B | €4,063 | €2,295 | -€1,768 | -43.5% |
| Recurring financial charges | 65 | €4,063 | €2,295 | -€1,768 | -43.5% |
| Profit (loss) for the period before taxes | 9903 | -€23,772 | -€38,507 | -€14,736 | -62.0% |
| Profit (loss) for the period | 9904 | -€23,772 | -€38,507 | -€14,736 | -62.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,772 | -€38,507 | -€14,736 | -62.0% |
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 24 October 2026 via checked.be.