BOGAL: 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.
BOGAL
Largest movements
- Receivables within one year -€22,259
down €22,259 (-24.3%), from €91,746 to €69,487
of which Trade receivables: -€26,678
- Cash +€10,069
up €10,069 (+672%), from €1,498 to €11,567
mainly Receivables within one year (+€22,259) and Depreciation (+€19,904)
- Stocks and contracts -€2,000
down €2,000 (-11.4%), from €17,500 to €15,500
of which Stocks: -€4,500
- Tangible fixed assets +€1,987
up €1,987 (+4.4%), from €45,021 to €47,008
of which Plant, machinery and equipment: +€7,188
- Trade debts -€9,799
down €9,799 (-15.3%), from €63,867 to €54,069
- Debts after one year -€8,265
down €8,265 (-82.0%), from €10,076 to €1,811
- Reserves +€7,456
up €7,456 (+17.0%), from €43,963 to €51,419
of which Distributable reserves: +€7,456
- Short-term financial debts +€4,904
up €4,904 (+86.4%), from €5,679 to €10,583
- Current portion of long-term debt -€4,426
down €4,426 (-32.9%), from €13,457 to €9,032
- Gross operating margin +€29,202
up €29,202 (+53.8%), from €54,240 to €83,442
- Taxes +€22,530
up €22,530 (+740%), from €3,047 to €25,577
- Write-downs +€8,250
new in 2025: €8,250
- Depreciation +€1,665
up €1,665 (+9.1%), from €18,239 to €19,904
- Financial income +€1,050
up €1,050 (+129%), from €811 to €1,861
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 | €155,963 | €145,202 | -€10,761 | -6.9% |
| Fixed assets | 21/28 | €45,219 | €47,206 | +€1,987 | +4.4% |
| Tangible fixed assets | 22/27 | €45,021 | €47,008 | +€1,987 | +4.4% |
| Land and buildings | 22 | €12,950 | €9,734 | -€3,216 | -24.8% |
| Plant, machinery and equipment | 23 | €9,401 | €16,589 | +€7,188 | +76.5% |
| Furniture and vehicles | 24 | €22,669 | €20,685 | -€1,984 | -8.8% |
| Financial fixed assets | 28 | €198 | €198 | = | 0.0% |
| Current assets | 29/58 | €110,745 | €97,996 | -€12,749 | -11.5% |
| Stocks and contracts in progress | 3 | €17,500 | €15,500 | -€2,000 | -11.4% |
| Stocks | 30/36 | €12,500 | €8,000 | -€4,500 | -36.0% |
| Contracts in progress | 37 | €5,000 | €7,500 | +€2,500 | +50.0% |
| Amounts receivable within one year | 40/41 | €91,746 | €69,487 | -€22,259 | -24.3% |
| Trade receivables | 40 | €62,065 | €35,387 | -€26,678 | -43.0% |
| Other amounts receivable | 41 | €29,681 | €34,100 | +€4,418 | +14.9% |
| Cash at bank and in hand | 54/58 | €1,498 | €11,567 | +€10,069 | +672% |
| Deferred charges and accrued income | 490/1 | - | €1,442 | +€1,442 | |
| Total equity and liabilities | 10/49 | €155,963 | €145,202 | -€10,761 | -6.9% |
| Equity | 10/15 | €49,655 | €57,111 | +€7,456 | +15.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €43,963 | €51,419 | +€7,456 | +17.0% |
| Non-distributable reserves | 130/1 | €1,485 | €1,485 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,485 | €1,485 | = | 0.0% |
| Distributable reserves | 133 | €42,478 | €49,934 | +€7,456 | +17.6% |
| Profit (loss) carried forward | 14 | -€12,908 | -€12,908 | = | 0.0% |
| Amounts payable | 17/49 | €106,308 | €88,090 | -€18,217 | -17.1% |
| Amounts payable after more than one year | 17 | €10,076 | €1,811 | -€8,265 | -82.0% |
| Financial debts | 170/4 | €10,076 | €1,811 | -€8,265 | -82.0% |
| Amounts payable within one year | 42/48 | €96,231 | €86,279 | -€9,952 | -10.3% |
| Current portion of amounts payable after more than one year | 42 | €13,457 | €9,032 | -€4,426 | -32.9% |
| Financial debts | 43 | €5,679 | €10,583 | +€4,904 | +86.4% |
| Credit institutions | 430/8 | €5,679 | €10,583 | +€4,904 | +86.4% |
| Trade debts | 44 | €63,867 | €54,069 | -€9,799 | -15.3% |
| Suppliers | 440/4 | €63,867 | €54,069 | -€9,799 | -15.3% |
| Taxes, remuneration and social security | 45 | €12,491 | €12,597 | +€106 | +0.8% |
| Taxes | 450/3 | €4,338 | €12,597 | +€8,258 | +190% |
| Remuneration and social security | 454/9 | €8,153 | - | -€8,153 | |
| Other amounts payable | 47/48 | €737 | - | -€737 | |
| Non-recurring operating income | 76A | €177 | - | -€177 | |
| Remuneration, social security and pensions | 62 | €15,560 | €16,010 | +€450 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,239 | €19,904 | +€1,665 | +9.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €8,250 | +€8,250 | |
| Other operating charges | 640/8 | €681 | €749 | +€68 | +10.0% |
| Gross operating margin | 9900 | €54,240 | €83,442 | +€29,202 | +53.8% |
| Operating profit (loss) | 9901 | €19,760 | €38,529 | +€18,769 | +95.0% |
| Financial income | 75/76B | €811 | €1,861 | +€1,050 | +129% |
| Recurring financial income | 75 | €811 | €1,861 | +€1,050 | +129% |
| Financial charges | 65/66B | €6,484 | €7,357 | +€873 | +13.5% |
| Recurring financial charges | 65 | €6,484 | €7,357 | +€873 | +13.5% |
| Profit (loss) for the period before taxes | 9903 | €14,087 | €33,033 | +€18,946 | +134% |
| Income taxes | 67/77 | €3,047 | €25,577 | +€22,530 | +740% |
| Profit (loss) for the period | 9904 | €11,040 | €7,456 | -€3,585 | -32.5% |
| Profit (loss) for the period to be appropriated | 9905 | €11,040 | €7,456 | -€3,585 | -32.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.