BOGARDO SYSTEMS: 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.
BOGARDO SYSTEMS
Largest movements
- Tangible fixed assets +€11,002
up €11,002 (+293%), from €3,751 to €14,753
of which Other tangible fixed assets: +€9,668
- Cash -€6,342
down €6,342 (-59.6%), from €10,645 to €4,304
mainly Contributions, distributions and other (-€20,000) and Investment in fixed assets (net) (-€14,446)
- Stocks and contracts -€3,060
down €3,060 (-38.7%), from €7,910 to €4,850
- Receivables within one year +€1,970
up €1,970 (+47.1%), from €4,178 to €6,148
of which Other amounts receivable: +€1,361
- Other debts +€20,632
up €20,632 (+1,451%), from €1,422 to €22,053
- Reserves -€20,497
down €20,497 (-98.0%), from €20,924 to €427
- Tax, wage and social debts +€3,322
up €3,322 (+3,882%), from €86 to €3,407
- Gross operating margin -€6,104
down €6,104 (-57.9%), from €10,536 to €4,432
- Taxes -€1,464
down €1,464 (-82.0%), from €1,786 to €322
- Depreciation -€1,226
down €1,226 (-26.2%), from €4,671 to €3,445
- Financial charges +€394
up €394 (+405%), from €97 to €492
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 | €29,004 | €32,658 | +€3,654 | +12.6% |
| Fixed assets | 21/28 | €3,751 | €14,753 | +€11,002 | +293% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €3,751 | €14,753 | +€11,002 | +293% |
| Plant, machinery and equipment | 23 | €1,391 | €701 | -€690 | -49.6% |
| Furniture and vehicles | 24 | €1,591 | €3,615 | +€2,024 | +127% |
| Other tangible fixed assets | 26 | €769 | €10,437 | +€9,668 | +1,257% |
| Current assets | 29/58 | €25,253 | €17,905 | -€7,348 | -29.1% |
| Stocks and contracts in progress | 3 | €7,910 | €4,850 | -€3,060 | -38.7% |
| Stocks | 30/36 | €7,910 | €4,850 | -€3,060 | -38.7% |
| Amounts receivable within one year | 40/41 | €4,178 | €6,148 | +€1,970 | +47.1% |
| Trade receivables | 40 | €3,166 | €3,775 | +€609 | +19.2% |
| Other amounts receivable | 41 | €1,013 | €2,373 | +€1,361 | +134% |
| Cash at bank and in hand | 54/58 | €10,645 | €4,304 | -€6,342 | -59.6% |
| Deferred charges and accrued income | 490/1 | €2,519 | €2,603 | +€84 | +3.3% |
| Total equity and liabilities | 10/49 | €29,004 | €32,658 | +€3,654 | +12.6% |
| Equity | 10/15 | €23,924 | €3,427 | -€20,497 | -85.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €20,924 | €427 | -€20,497 | -98.0% |
| Distributable reserves | 133 | €20,924 | €427 | -€20,497 | -98.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €5,080 | €29,230 | +€24,150 | +475% |
| Amounts payable within one year | 42/48 | €5,080 | €29,230 | +€24,150 | +475% |
| Trade debts | 44 | €3,273 | €3,470 | +€197 | +6.0% |
| Suppliers | 440/4 | €3,273 | €3,470 | +€197 | +6.0% |
| Advances received on contracts in progress | 46 | €300 | €300 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €86 | €3,407 | +€3,322 | +3,882% |
| Taxes | 450/3 | €86 | €3,407 | +€3,322 | +3,882% |
| Other amounts payable | 47/48 | €1,422 | €22,053 | +€20,632 | +1,451% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,671 | €3,445 | -€1,226 | -26.2% |
| Other operating charges | 640/8 | €709 | €754 | +€45 | +6.3% |
| Gross operating margin | 9900 | €10,536 | €4,432 | -€6,104 | -57.9% |
| Operating profit (loss) | 9901 | €5,156 | €233 | -€4,923 | -95.5% |
| Financial income | 75/76B | €89 | €83 | -€6 | -6.9% |
| Recurring financial income | 75 | €89 | €83 | -€6 | -6.9% |
| Financial charges | 65/66B | €97 | €492 | +€394 | +405% |
| Recurring financial charges | 65 | €97 | €492 | +€394 | +405% |
| Profit (loss) for the period before taxes | 9903 | €5,148 | -€175 | -€5,323 | |
| Income taxes | 67/77 | €1,786 | €322 | -€1,464 | -82.0% |
| Profit (loss) for the period | 9904 | €3,363 | -€497 | -€3,860 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,363 | -€497 | -€3,860 |
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 19 October 2026 via checked.be.