BOGUS: 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.
BOGUS
Largest movements
- Receivables within one year +€44,126
up €44,126 (+466%), from €9,466 to €53,592
of which Other amounts receivable: +€40,550
- Cash -€41,306
down €41,306 (-14.6%), from €283,018 to €241,713
mainly Debts after one year (-€49,073) and Receivables within one year (-€44,126)
- Tangible fixed assets -€39,549
down €39,549 (-4.0%), from €995,880 to €956,332
of which Land and buildings: -€36,958
- Debts after one year -€49,073
down €49,073 (-26.8%), from €183,176 to €134,103
- Reserves +€22,224
up €22,224 (+2.6%), from €861,253 to €883,477
of which Distributable reserves: +€39,521
- Other debts -€13,500
down €13,500 (-100%), from €13,500 to €0
- Gross operating margin -€57,741
down €57,741 (-39.2%), from €147,433 to €89,693
- Taxes -€25,359
down €25,359 (-64.1%), from €39,534 to €14,176
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 | €1,291,399 | €1,254,427 | -€36,973 | -2.9% |
| Fixed assets | 21/28 | €995,880 | €956,332 | -€39,549 | -4.0% |
| Tangible fixed assets | 22/27 | €995,880 | €956,332 | -€39,549 | -4.0% |
| Land and buildings | 22 | €973,939 | €936,981 | -€36,958 | -3.8% |
| Other tangible fixed assets | 26 | €21,941 | €19,351 | -€2,590 | -11.8% |
| Current assets | 29/58 | €295,519 | €298,095 | +€2,576 | +0.9% |
| Amounts receivable within one year | 40/41 | €9,466 | €53,592 | +€44,126 | +466% |
| Trade receivables | 40 | €0 | €3,576 | +€3,576 | |
| Other amounts receivable | 41 | €9,466 | €50,016 | +€40,550 | +428% |
| Cash at bank and in hand | 54/58 | €283,018 | €241,713 | -€41,306 | -14.6% |
| Deferred charges and accrued income | 490/1 | €3,035 | €2,790 | -€244 | -8.1% |
| Total equity and liabilities | 10/49 | €1,291,399 | €1,254,427 | -€36,973 | -2.9% |
| Equity | 10/15 | €923,253 | €945,477 | +€22,224 | +2.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €861,253 | €883,477 | +€22,224 | +2.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €330,722 | €313,424 | -€17,297 | -5.2% |
| Distributable reserves | 133 | €524,332 | €563,853 | +€39,521 | +7.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €110,241 | €104,475 | -€5,766 | -5.2% |
| Deferred taxes | 168 | €110,241 | €104,475 | -€5,766 | -5.2% |
| Amounts payable | 17/49 | €257,906 | €204,475 | -€53,431 | -20.7% |
| Amounts payable after more than one year | 17 | €183,176 | €134,103 | -€49,073 | -26.8% |
| Financial debts | 170/4 | €183,176 | €134,103 | -€49,073 | -26.8% |
| Amounts payable within one year | 42/48 | €74,730 | €70,372 | -€4,358 | -5.8% |
| Current portion of amounts payable after more than one year | 42 | €48,246 | €49,073 | +€827 | +1.7% |
| Financial debts | 43 | €3,352 | €3,352 | = | 0.0% |
| Credit institutions | 430/8 | €3,352 | €3,352 | = | 0.0% |
| Trade debts | 44 | €546 | €2,185 | +€1,639 | +300% |
| Suppliers | 440/4 | €546 | €2,185 | +€1,639 | +300% |
| Taxes, remuneration and social security | 45 | €9,087 | €15,763 | +€6,676 | +73.5% |
| Taxes | 450/3 | €9,087 | €15,763 | +€6,676 | +73.5% |
| Other amounts payable | 47/48 | €13,500 | €0 | -€13,500 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €76,582 | €0 | -€76,582 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,033 | €47,600 | +€567 | +1.2% |
| Other operating charges | 640/8 | €5,880 | €6,549 | +€668 | +11.4% |
| Gross operating margin | 9900 | €147,433 | €89,693 | -€57,741 | -39.2% |
| Operating profit (loss) | 9901 | €94,520 | €35,543 | -€58,976 | -62.4% |
| Financial income | 75/76B | €581 | €375 | -€206 | -35.5% |
| Recurring financial income | 75 | €581 | €375 | -€206 | -35.5% |
| Financial charges | 65/66B | €5,955 | €5,284 | -€670 | -11.3% |
| Recurring financial charges | 65 | €5,955 | €5,284 | -€670 | -11.3% |
| Profit (loss) for the period before taxes | 9903 | €89,146 | €30,634 | -€58,512 | -65.6% |
| Transfer from deferred taxes | 780 | €21,202 | €5,766 | -€15,436 | -72.8% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €39,534 | €14,176 | -€25,359 | -64.1% |
| Profit (loss) for the period | 9904 | €70,813 | €22,224 | -€48,589 | -68.6% |
| Transfer from tax-exempt reserves | 789 | €16,823 | €17,297 | +€474 | +2.8% |
| Transfer to tax-exempt reserves | 689 | €15,595 | €0 | -€15,595 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €72,042 | €39,521 | -€32,521 | -45.1% |
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 14 October 2026 via checked.be.