IMMO VAN DEN 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.
IMMO VAN DEN BOGAERT
Largest movements
- Tangible fixed assets -€76,179
down €76,179 (-36.5%), from €208,973 to €132,794
of which Land and buildings: -€57,555
- Receivables within one year -€51,085
down €51,085 (-77.6%), from €65,810 to €14,725
of which Other amounts receivable: -€57,135
- Cash +€7,118
up €7,118 (+3,306%), from €215 to €7,333
- Debts after one year -€77,221
down €77,221 (-46.5%), from €165,941 to €88,720
- Profit (loss) carried forward -€25,362
down €25,362, from €5,835 to -€19,527
- Advances received +€13,000
new in 2025: €13,000
- Reserves -€12,292
down €12,292 (-54.8%), from €22,446 to €10,154
of which Tax-exempt reserves: -€12,292
- Current portion of long-term debt -€5,677
down €5,677 (-24.5%), from €23,137 to €17,459
- Gross operating margin -€17,140
down €17,140 (-39.3%), from €43,624 to €26,484
- Depreciation -€7,464
down €7,464 (-28.6%), from €26,075 to €18,611
- Taxes -€4,386
down €4,386 (-77.1%), from €5,686 to €1,300
- Financial charges +€2,034
up €2,034 (+62.9%), from €3,233 to €5,267
From the 2021 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2021 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €274,998 | €154,853 | -€120,146 | -43.7% |
| Fixed assets | 21/28 | €208,973 | €132,794 | -€76,179 | -36.5% |
| Tangible fixed assets | 22/27 | €208,973 | €132,794 | -€76,179 | -36.5% |
| Land and buildings | 22 | €187,180 | €129,625 | -€57,555 | -30.7% |
| Plant, machinery and equipment | 23 | €4,053 | €2,259 | -€1,794 | -44.3% |
| Furniture and vehicles | 24 | €17,739 | €910 | -€16,829 | -94.9% |
| Current assets | 29/58 | €66,026 | €22,059 | -€43,967 | -66.6% |
| Amounts receivable within one year | 40/41 | €65,810 | €14,725 | -€51,085 | -77.6% |
| Trade receivables | 40 | €3,147 | €9,197 | +€6,050 | +192% |
| Other amounts receivable | 41 | €62,663 | €5,528 | -€57,135 | -91.2% |
| Cash at bank and in hand | 54/58 | €215 | €7,333 | +€7,118 | +3,306% |
| Total equity and liabilities | 10/49 | €274,998 | €154,853 | -€120,146 | -43.7% |
| Equity | 10/15 | €34,481 | -€3,173 | -€37,654 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €22,446 | €10,154 | -€12,292 | -54.8% |
| Tax-exempt reserves | 132 | €12,292 | - | -€12,292 | |
| Distributable reserves | 133 | €10,154 | €10,154 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,835 | -€19,527 | -€25,362 | |
| Provisions and deferred taxes | 16 | €37,842 | €33,745 | -€4,097 | -10.8% |
| Provisions for liabilities and charges | 160/5 | €33,745 | €33,745 | = | 0.0% |
| Pensions and similar obligations | 160 | €33,745 | €33,745 | = | 0.0% |
| Deferred taxes | 168 | €4,097 | - | -€4,097 | |
| Amounts payable | 17/49 | €202,675 | €124,281 | -€78,394 | -38.7% |
| Amounts payable after more than one year | 17 | €165,941 | €88,720 | -€77,221 | -46.5% |
| Financial debts | 170/4 | €165,941 | €88,720 | -€77,221 | -46.5% |
| Amounts payable within one year | 42/48 | €36,734 | €35,561 | -€1,173 | -3.2% |
| Current portion of amounts payable after more than one year | 42 | €23,137 | €17,459 | -€5,677 | -24.5% |
| Trade debts | 44 | €3,806 | €475 | -€3,331 | -87.5% |
| Suppliers | 440/4 | €3,806 | €475 | -€3,331 | -87.5% |
| Advances received on contracts in progress | 46 | - | €13,000 | +€13,000 | |
| Taxes, remuneration and social security | 45 | €9,791 | €4,626 | -€5,165 | -52.7% |
| Taxes | 450/3 | €9,791 | €4,626 | -€5,165 | -52.7% |
| Remuneration, social security and pensions | 62 | - | €26 | +€26 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,075 | €18,611 | -€7,464 | -28.6% |
| Other operating charges | 640/8 | €1,465 | €1,389 | -€76 | -5.2% |
| Gross operating margin | 9900 | €43,624 | €26,484 | -€17,140 | -39.3% |
| Operating profit (loss) | 9901 | €16,084 | €6,458 | -€9,626 | -59.8% |
| Financial income | 75/76B | €10 | €309 | +€299 | +3,064% |
| Recurring financial income | 75 | €10 | €309 | +€299 | +3,064% |
| Financial charges | 65/66B | €3,233 | €5,267 | +€2,034 | +62.9% |
| Recurring financial charges | 65 | €3,233 | €5,267 | +€2,034 | +62.9% |
| Profit (loss) for the period before taxes | 9903 | €12,860 | €1,500 | -€11,360 | -88.3% |
| Income taxes | 67/77 | €5,686 | €1,300 | -€4,386 | -77.1% |
| Profit (loss) for the period | 9904 | €7,174 | €200 | -€6,974 | -97.2% |
| Transfer from tax-exempt reserves | 789 | €2,980 | - | -€2,980 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,154 | €200 | -€9,954 | -98.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2021 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.