BOGATEX: what changed
Two fiscal 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.
BOGATEX
Largest movements
- Receivables within one year +€43,637
up €43,637 (+25.6%), from €170,157 to €213,795
of which Trade receivables: +€43,637
- Tangible fixed assets -€26,234
down €26,234 (-18.2%), from €144,114 to €117,880
of which Furniture and vehicles: -€19,405
- Cash -€12,651
down €12,651 (-13.8%), from €92,002 to €79,351
mainly Receivables within one year (-€43,637) and Trade debts (-€43,239)
- Stocks and contracts +€7,619
up €7,619 (+5.9%), from €129,030 to €136,649
- Profit (loss) carried forward +€84,680
up €84,680 (+13.9%), from -€611,149 to -€526,469
- Trade debts -€43,239
down €43,239 (-34.4%), from €125,544 to €82,305
- Debts after one year -€24,723
down €24,723 (-34.5%), from €71,645 to €46,922
- Tax, wage and social debts +€14,713
up €14,713 (+79.2%), from €18,575 to €33,288
of which Taxes: +€13,312
- Other debts -€12,970
down €12,970 (-12.3%), from €105,169 to €92,199
- Gross operating margin +€90,329
up €90,329 (+51.1%), from €176,660 to €266,989
- Staff costs +€16,658
up €16,658 (+17.4%), from €95,884 to €112,542
- Depreciation +€3,692
up €3,692 (+15.3%), from €24,086 to €27,778
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.
Cash bridge derived
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 | €537,722 | €548,950 | +€11,228 | +2.1% |
| Fixed assets | 21/28 | €144,304 | €118,069 | -€26,234 | -18.2% |
| Tangible fixed assets | 22/27 | €144,114 | €117,880 | -€26,234 | -18.2% |
| Land and buildings | 22 | €59,666 | €51,998 | -€7,669 | -12.9% |
| Plant, machinery and equipment | 23 | €3,329 | €4,168 | +€839 | +25.2% |
| Furniture and vehicles | 24 | €81,119 | €61,714 | -€19,405 | -23.9% |
| Financial fixed assets | 28 | €190 | €190 | = | 0.0% |
| Current assets | 29/58 | €393,418 | €430,881 | +€37,463 | +9.5% |
| Stocks and contracts in progress | 3 | €129,030 | €136,649 | +€7,619 | +5.9% |
| Stocks | 30/36 | €129,030 | €136,649 | +€7,619 | +5.9% |
| Amounts receivable within one year | 40/41 | €170,157 | €213,795 | +€43,637 | +25.6% |
| Trade receivables | 40 | €170,157 | €213,795 | +€43,637 | +25.6% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €92,002 | €79,351 | -€12,651 | -13.8% |
| Deferred charges and accrued income | 490/1 | €2,229 | €1,086 | -€1,143 | -51.3% |
| Total equity and liabilities | 10/49 | €537,722 | €548,950 | +€11,228 | +2.1% |
| Equity | 10/15 | €184,833 | €269,513 | +€84,680 | +45.8% |
| Contributions | 10/11 | €255,000 | €255,000 | = | 0.0% |
| Capital | 10 | €255,000 | €255,000 | = | 0.0% |
| Issued capital | 100 | €255,000 | €255,000 | = | 0.0% |
| Reserves | 13 | €540,982 | €540,982 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,428 | €8,428 | = | 0.0% |
| Legal reserve | 130 | €8,428 | €8,428 | = | 0.0% |
| Tax-exempt reserves | 132 | €10,783 | €10,783 | = | 0.0% |
| Distributable reserves | 133 | €521,771 | €521,771 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€611,149 | -€526,469 | +€84,680 | +13.9% |
| Amounts payable | 17/49 | €352,889 | €279,437 | -€73,452 | -20.8% |
| Amounts payable after more than one year | 17 | €71,645 | €46,922 | -€24,723 | -34.5% |
| Financial debts | 170/4 | €71,645 | €46,922 | -€24,723 | -34.5% |
| Amounts payable within one year | 42/48 | €281,244 | €232,515 | -€48,729 | -17.3% |
| Current portion of amounts payable after more than one year | 42 | €31,957 | €24,723 | -€7,234 | -22.6% |
| Trade debts | 44 | €125,544 | €82,305 | -€43,239 | -34.4% |
| Suppliers | 440/4 | €125,544 | €82,305 | -€43,239 | -34.4% |
| Taxes, remuneration and social security | 45 | €18,575 | €33,288 | +€14,713 | +79.2% |
| Taxes | 450/3 | €4,251 | €17,563 | +€13,312 | +313.1% |
| Remuneration and social security | 454/9 | €14,323 | €15,725 | +€1,401 | +9.8% |
| Other amounts payable | 47/48 | €105,169 | €92,199 | -€12,970 | -12.3% |
| Non-recurring operating income | 76A | - | €10,000 | +€10,000 | |
| Remuneration, social security and pensions | 62 | €95,884 | €112,542 | +€16,658 | +17.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,086 | €27,778 | +€3,692 | +15.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €3,867 | €4,056 | +€189 | +4.9% |
| Gross operating margin | 9900 | €176,660 | €266,989 | +€90,329 | +51.1% |
| Operating profit (loss) | 9901 | €52,822 | €122,612 | +€69,790 | +132.1% |
| Financial income | 75/76B | €81 | €3 | -€78 | -96.7% |
| Recurring financial income | 75 | €81 | €3 | -€78 | -96.7% |
| Financial charges | 65/66B | €7,323 | €7,934 | +€612 | +8.4% |
| Recurring financial charges | 65 | €7,323 | €7,934 | +€612 | +8.4% |
| Profit (loss) for the period before taxes | 9903 | €45,580 | €114,680 | +€69,100 | +151.6% |
| Profit (loss) for the period | 9904 | €45,580 | €114,680 | +€69,100 | +151.6% |
| Profit (loss) for the period to be appropriated | 9905 | €45,580 | €114,680 | +€69,100 | +151.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.