ELS BOOGAERTS: what changed
ELS BOOGAERTS
Largest movements
- Cash +€51,502
up €51,502 (+25.2%), from €204,326 to €255,828
mainly Net result for the year (+€72,356) and Depreciation (+€18,206)
- Current investments +€15,000
up €15,000 (+33.3%), from €45,000 to €60,000
- Tangible fixed assets -€13,537
down €13,537 (-21.0%), from €64,492 to €50,954
of which Leasing and similar rights: -€14,743
- Receivables within one year +€8,100
up €8,100, from €0 to €8,100
- Reserves +€72,350
up €72,350 (+15.6%), from €464,932 to €537,282
of which Distributable reserves: +€72,350
- Debts after one year -€14,226
down €14,226 (-31.8%), from €44,800 to €30,574
- Gross operating margin -€13,148
down €13,148 (-15.6%), from €84,386 to €71,238
- Taxes -€5,371
down €5,371 (-21.3%), from €25,161 to €19,790
- Depreciation -€1,655
down €1,655 (-8.3%), from €19,861 to €18,206
- Financial charges +€1,595
up €1,595 (+41.7%), from €3,820 to €5,414
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €575,735 | €639,649 | +€63,914 | +11.1% |
| Fixed assets | 21/28 | €324,059 | €310,521 | -€13,537 | -4.2% |
| Tangible fixed assets | 22/27 | €64,492 | €50,954 | -€13,537 | -21.0% |
| Plant, machinery and equipment | 23 | €791 | €528 | -€264 | -33.3% |
| Furniture and vehicles | 24 | €6,380 | €7,849 | +€1,469 | +23.0% |
| Leasing and similar rights | 25 | €57,320 | €42,577 | -€14,743 | -25.7% |
| Financial fixed assets | 28 | €259,567 | €259,567 | = | 0.0% |
| Current assets | 29/58 | €251,676 | €329,128 | +€77,452 | +30.8% |
| Amounts receivable within one year | 40/41 | €0 | €8,100 | +€8,100 | |
| Other amounts receivable | 41 | €0 | €8,100 | +€8,100 | |
| Current investments | 50/53 | €45,000 | €60,000 | +€15,000 | +33.3% |
| Cash at bank and in hand | 54/58 | €204,326 | €255,828 | +€51,502 | +25.2% |
| Deferred charges and accrued income | 490/1 | €2,350 | €5,200 | +€2,849 | +121% |
| Total equity and liabilities | 10/49 | €575,735 | €639,649 | +€63,914 | +11.1% |
| Equity | 10/15 | €483,620 | €555,976 | +€72,356 | +15.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €464,932 | €537,282 | +€72,350 | +15.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €464,932 | €537,282 | +€72,350 | +15.6% |
| Profit (loss) carried forward | 14 | €88 | €95 | +€6 | +7.0% |
| Amounts payable | 17/49 | €92,115 | €83,673 | -€8,442 | -9.2% |
| Amounts payable after more than one year | 17 | €44,800 | €30,574 | -€14,226 | -31.8% |
| Financial debts | 170/4 | €44,800 | €30,574 | -€14,226 | -31.8% |
| Amounts payable within one year | 42/48 | €47,315 | €53,099 | +€5,784 | +12.2% |
| Current portion of amounts payable after more than one year | 42 | €13,661 | €14,226 | +€565 | +4.1% |
| Trade debts | 44 | €851 | €2,988 | +€2,136 | +251% |
| Suppliers | 440/4 | €851 | €2,988 | +€2,136 | +251% |
| Taxes, remuneration and social security | 45 | €26,951 | €32,178 | +€5,227 | +19.4% |
| Taxes | 450/3 | €26,951 | €32,178 | +€5,227 | +19.4% |
| Other amounts payable | 47/48 | €5,851 | €3,707 | -€2,144 | -36.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,861 | €18,206 | -€1,655 | -8.3% |
| Other operating charges | 640/8 | €387 | €294 | -€94 | -24.2% |
| Gross operating margin | 9900 | €84,386 | €71,238 | -€13,148 | -15.6% |
| Operating profit (loss) | 9901 | €64,138 | €52,738 | -€11,400 | -17.8% |
| Financial income | 75/76B | €44,958 | €44,822 | -€135 | -0.3% |
| Recurring financial income | 75 | €44,958 | €44,822 | -€135 | -0.3% |
| Financial charges | 65/66B | €3,820 | €5,414 | +€1,595 | +41.7% |
| Recurring financial charges | 65 | €3,820 | €5,414 | +€1,595 | +41.7% |
| Profit (loss) for the period before taxes | 9903 | €105,276 | €92,146 | -€13,130 | -12.5% |
| Income taxes | 67/77 | €25,161 | €19,790 | -€5,371 | -21.3% |
| Profit (loss) for the period | 9904 | €80,115 | €72,356 | -€7,759 | -9.7% |
| Profit (loss) for the period to be appropriated | 9905 | €80,115 | €72,356 | -€7,759 | -9.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.