BOGROW: 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.
BOGROW
Largest movements
- Cash +€327,809
up €327,809 (+190%), from €172,087 to €499,896
mainly Trade debts (+€504,065) and Depreciation (+€320,113)
- Receivables within one year +€148,031
up €148,031 (+32.1%), from €461,770 to €609,801
of which Trade receivables: +€163,921
- Tangible fixed assets +€34,286
up €34,286 (+2.2%), from €1.6m to €1.6m
of which Plant, machinery and equipment: +€127,462
- Trade debts +€504,065
up €504,065 (+330%), from €152,679 to €656,744
- Reserves +€133,768
up €133,768 (+90.1%), from €148,417 to €282,186
of which Distributable reserves: +€140,000
- Other debts -€125,864
down €125,864 (-23.8%), from €528,968 to €403,105
- Gross operating margin +€353,285
up €353,285 (+21.8%), from €1.6m to €2.0m
- Staff costs +€160,733
up €160,733 (+12.6%), from €1.3m to €1.4m
- Taxes +€39,048
up €39,048 (+7,988%), from €489 to €39,537
- Depreciation +€32,903
up €32,903 (+11.5%), from €287,210 to €320,113
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 | €2,289,591 | €2,782,712 | +€493,121 | +21.5% |
| Fixed assets | 21/28 | €1,607,221 | €1,641,508 | +€34,286 | +2.1% |
| Tangible fixed assets | 22/27 | €1,563,291 | €1,597,578 | +€34,286 | +2.2% |
| Land and buildings | 22 | €662,276 | €621,339 | -€40,937 | -6.2% |
| Plant, machinery and equipment | 23 | €719,172 | €846,634 | +€127,462 | +17.7% |
| Furniture and vehicles | 24 | €181,843 | €129,604 | -€52,239 | -28.7% |
| Financial fixed assets | 28 | €43,930 | €43,930 | = | 0.0% |
| Current assets | 29/58 | €682,369 | €1,141,204 | +€458,835 | +67.2% |
| Amounts receivable within one year | 40/41 | €461,770 | €609,801 | +€148,031 | +32.1% |
| Trade receivables | 40 | €427,457 | €591,377 | +€163,921 | +38.3% |
| Other amounts receivable | 41 | €34,313 | €18,424 | -€15,889 | -46.3% |
| Current investments | 50/53 | €22,027 | €0 | -€22,027 | -100% |
| Cash at bank and in hand | 54/58 | €172,087 | €499,896 | +€327,809 | +190% |
| Deferred charges and accrued income | 490/1 | €26,486 | €31,507 | +€5,021 | +19.0% |
| Total equity and liabilities | 10/49 | €2,289,591 | €2,782,712 | +€493,121 | +21.5% |
| Equity | 10/15 | €1,303,159 | €1,461,309 | +€158,150 | +12.1% |
| Contributions | 10/11 | €1,170,600 | €1,170,600 | = | 0.0% |
| Reserves | 13 | €148,417 | €282,186 | +€133,768 | +90.1% |
| Non-distributable reserves | 130/1 | €117,060 | €117,060 | = | 0.0% |
| Reserves not available under the articles | 1311 | €117,060 | €117,060 | = | 0.0% |
| Tax-exempt reserves | 132 | €31,357 | €25,126 | -€6,232 | -19.9% |
| Distributable reserves | 133 | - | €140,000 | +€140,000 | |
| Profit (loss) carried forward | 14 | -€15,858 | €8,523 | +€24,382 | |
| Provisions and deferred taxes | 16 | €12,033 | €9,639 | -€2,393 | -19.9% |
| Deferred taxes | 168 | €12,033 | €9,639 | -€2,393 | -19.9% |
| Amounts payable | 17/49 | €974,399 | €1,311,763 | +€337,364 | +34.6% |
| Amounts payable within one year | 42/48 | €829,020 | €1,180,887 | +€351,867 | +42.4% |
| Trade debts | 44 | €152,679 | €656,744 | +€504,065 | +330% |
| Suppliers | 440/4 | €152,679 | €656,744 | +€504,065 | +330% |
| Taxes, remuneration and social security | 45 | €147,372 | €121,038 | -€26,335 | -17.9% |
| Taxes | 450/3 | €53,161 | €19,724 | -€33,437 | -62.9% |
| Remuneration and social security | 454/9 | €94,212 | €101,314 | +€7,102 | +7.5% |
| Other amounts payable | 47/48 | €528,968 | €403,105 | -€125,864 | -23.8% |
| Accrued charges and deferred income | 492/3 | €145,379 | €130,876 | -€14,503 | -10.0% |
| Non-recurring operating income | 76A | €11,000 | €6,150 | -€4,850 | -44.1% |
| Remuneration, social security and pensions | 62 | €1,278,455 | €1,439,188 | +€160,733 | +12.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €287,210 | €320,113 | +€32,903 | +11.5% |
| Other operating charges | 640/8 | €17,578 | €15,435 | -€2,143 | -12.2% |
| Non-recurring operating charges | 66A | - | €1,000 | +€1,000 | |
| Gross operating margin | 9900 | €1,617,150 | €1,970,435 | +€353,285 | +21.8% |
| Operating profit (loss) | 9901 | €33,907 | €194,698 | +€160,791 | +474% |
| Financial income | 75/76B | €6,237 | €1,174 | -€5,063 | -81.2% |
| Recurring financial income | 75 | €6,237 | €1,174 | -€5,063 | -81.2% |
| Financial charges | 65/66B | €1,864 | €579 | -€1,284 | -68.9% |
| Recurring financial charges | 65 | €1,864 | €579 | -€1,284 | -68.9% |
| Profit (loss) for the period before taxes | 9903 | €38,280 | €195,293 | +€157,013 | +410% |
| Transfer from deferred taxes | 780 | €2,393 | €2,393 | = | 0.0% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €489 | €39,537 | +€39,048 | +7,988% |
| Profit (loss) for the period | 9904 | €40,185 | €158,150 | +€117,965 | +294% |
| Transfer from tax-exempt reserves | 789 | €6,232 | €6,232 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €46,416 | €164,382 | +€117,965 | +254% |
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 20 October 2026 via checked.be.