CK BOGAERT: 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.
CK BOGAERT
Largest movements
- Receivables within one year -€87,638
down €87,638 (-74.1%), from €118,223 to €30,585
of which Trade receivables: -€78,230
- Cash +€56,116
up €56,116 (+70.4%), from €79,694 to €135,810
mainly Receivables within one year (+€87,638) and Other debts (+€75,261)
- Tangible fixed assets -€28,115
down €28,115 (-10.6%), from €264,721 to €236,606
- Stocks and contracts -€19,013
down €19,013 (-50.6%), from €37,608 to €18,595
- Reserves -€113,129
down €113,129 (-39.2%), from €288,744 to €175,614
- Other debts +€75,261
up €75,261 (+26,761%), from €281 to €75,542
- Trade debts -€46,823
down €46,823 (-80.6%), from €58,061 to €11,238
- Accrued charges and deferred income +€6,321
up €6,321 (+3,665%), from €172 to €6,493
- Gross operating margin +€85,360
up €85,360 (+85.3%), from €100,084 to €185,444
- Staff costs +€23,538
up €23,538 (+24.0%), from €97,969 to €121,507
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 | €513,701 | €433,458 | -€80,242 | -15.6% |
| Fixed assets | 21/28 | €264,721 | €236,606 | -€28,115 | -10.6% |
| Tangible fixed assets | 22/27 | €264,721 | €236,606 | -€28,115 | -10.6% |
| Land and buildings | 22 | €193,234 | €181,834 | -€11,400 | -5.9% |
| Plant, machinery and equipment | 23 | €14,539 | €10,502 | -€4,037 | -27.8% |
| Furniture and vehicles | 24 | €53,838 | €41,653 | -€12,185 | -22.6% |
| Other tangible fixed assets | 26 | €3,109 | €2,617 | -€493 | -15.8% |
| Current assets | 29/58 | €248,980 | €196,852 | -€52,127 | -20.9% |
| Stocks and contracts in progress | 3 | €37,608 | €18,595 | -€19,013 | -50.6% |
| Stocks | 30/36 | €37,608 | €18,595 | -€19,013 | -50.6% |
| Amounts receivable within one year | 40/41 | €118,223 | €30,585 | -€87,638 | -74.1% |
| Trade receivables | 40 | €98,058 | €19,828 | -€78,230 | -79.8% |
| Other amounts receivable | 41 | €20,165 | €10,757 | -€9,408 | -46.7% |
| Cash at bank and in hand | 54/58 | €79,694 | €135,810 | +€56,116 | +70.4% |
| Deferred charges and accrued income | 490/1 | €13,455 | €11,862 | -€1,593 | -11.8% |
| Total equity and liabilities | 10/49 | €513,701 | €433,458 | -€80,242 | -15.6% |
| Equity | 10/15 | €453,266 | €340,158 | -€113,108 | -25.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €288,744 | €175,614 | -€113,129 | -39.2% |
| Distributable reserves | 133 | €288,744 | €175,614 | -€113,129 | -39.2% |
| Profit (loss) carried forward | 14 | €158,323 | €158,344 | +€21 | 0.0% |
| Amounts payable | 17/49 | €60,435 | €93,300 | +€32,866 | +54.4% |
| Amounts payable within one year | 42/48 | €60,262 | €86,807 | +€26,545 | +44.0% |
| Trade debts | 44 | €58,061 | €11,238 | -€46,823 | -80.6% |
| Suppliers | 440/4 | €58,061 | €11,238 | -€46,823 | -80.6% |
| Taxes, remuneration and social security | 45 | €1,920 | €27 | -€1,893 | -98.6% |
| Taxes | 450/3 | €439 | €27 | -€412 | -93.9% |
| Remuneration and social security | 454/9 | €1,481 | - | -€1,481 | |
| Other amounts payable | 47/48 | €281 | €75,542 | +€75,261 | +26,761% |
| Accrued charges and deferred income | 492/3 | €172 | €6,493 | +€6,321 | +3,665% |
| Remuneration, social security and pensions | 62 | €97,969 | €121,507 | +€23,538 | +24.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,305 | €41,609 | +€304 | +0.7% |
| Other operating charges | 640/8 | €3,097 | €2,410 | -€687 | -22.2% |
| Non-recurring operating charges | 66A | €113 | €9,720 | +€9,607 | +8,533% |
| Gross operating margin | 9900 | €100,084 | €185,444 | +€85,360 | +85.3% |
| Operating profit (loss) | 9901 | -€42,399 | €10,199 | +€52,598 | |
| Financial income | 75/76B | €2,284 | €2,941 | +€657 | +28.8% |
| Recurring financial income | 75 | €1,571 | €2,941 | +€1,370 | +87.2% |
| Non-recurring financial income | 76B | €713 | - | -€713 | |
| Financial charges | 65/66B | €221 | €336 | +€114 | +51.7% |
| Recurring financial charges | 65 | €221 | €336 | +€114 | +51.7% |
| Profit (loss) for the period before taxes | 9903 | -€40,336 | €12,803 | +€53,140 | |
| Income taxes | 67/77 | €260 | €1,382 | +€1,123 | +432% |
| Profit (loss) for the period | 9904 | -€40,596 | €11,421 | +€52,017 | |
| Profit (loss) for the period to be appropriated | 9905 | -€40,596 | €11,421 | +€52,017 |
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 20 October 2026 via checked.be.