INGE 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.
INGE BOGAERT
Largest movements
- Tangible fixed assets +€56,560
up €56,560 (+14.3%), from €395,509 to €452,069
- Cash -€56,234
down €56,234 (-27.4%), from €204,971 to €148,737
mainly Investment in fixed assets (net) (-€101,233) and Receivables within one year (-€33,484)
- Receivables within one year +€33,484
up €33,484 (+42.9%), from €78,018 to €111,502
of which Trade receivables: +€25,960
- Reserves +€17,479
up €17,479 (+8.2%), from €214,340 to €231,819
of which Distributable reserves: +€17,479
- Trade debts +€15,108
up €15,108 (+21.1%), from €71,618 to €86,726
- Staff costs +€19,646
up €19,646 (+25.0%), from €78,580 to €98,226
- Taxes -€17,266
down €17,266 (-73.7%), from €23,440 to €6,174
- Gross operating margin -€9,096
down €9,096 (-5.0%), from €180,804 to €171,708
- Financial income +€8,719
up €8,719 (+386%), from €2,261 to €10,980
- Write-downs +€8,155
new in 2025: €8,155
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 | €678,498 | €717,981 | +€39,483 | +5.8% |
| Fixed assets | 21/28 | €395,509 | €452,069 | +€56,560 | +14.3% |
| Tangible fixed assets | 22/27 | €395,509 | €452,069 | +€56,560 | +14.3% |
| Land and buildings | 22 | €355,048 | €380,834 | +€25,785 | +7.3% |
| Furniture and vehicles | 24 | €40,461 | €64,993 | +€24,533 | +60.6% |
| Other tangible fixed assets | 26 | - | €6,242 | +€6,242 | |
| Current assets | 29/58 | €282,989 | €265,912 | -€17,077 | -6.0% |
| Amounts receivable within one year | 40/41 | €78,018 | €111,502 | +€33,484 | +42.9% |
| Trade receivables | 40 | €77,235 | €103,194 | +€25,960 | +33.6% |
| Other amounts receivable | 41 | €783 | €8,308 | +€7,525 | +961% |
| Cash at bank and in hand | 54/58 | €204,971 | €148,737 | -€56,234 | -27.4% |
| Deferred charges and accrued income | 490/1 | - | €5,672 | +€5,672 | |
| Total equity and liabilities | 10/49 | €678,498 | €717,981 | +€39,483 | +5.8% |
| Equity | 10/15 | €332,940 | €350,419 | +€17,479 | +5.2% |
| Contributions | 10/11 | €118,600 | €118,600 | = | 0.0% |
| Reserves | 13 | €214,340 | €231,819 | +€17,479 | +8.2% |
| Tax-exempt reserves | 132 | €35,326 | €35,326 | = | 0.0% |
| Distributable reserves | 133 | €179,014 | €196,493 | +€17,479 | +9.8% |
| Amounts payable | 17/49 | €345,558 | €367,562 | +€22,004 | +6.4% |
| Amounts payable after more than one year | 17 | €207,039 | €209,629 | +€2,590 | +1.3% |
| Financial debts | 170/4 | €207,039 | €209,629 | +€2,590 | +1.3% |
| Amounts payable within one year | 42/48 | €138,155 | €157,722 | +€19,567 | +14.2% |
| Current portion of amounts payable after more than one year | 42 | €33,645 | €32,255 | -€1,390 | -4.1% |
| Trade debts | 44 | €71,618 | €86,726 | +€15,108 | +21.1% |
| Suppliers | 440/4 | €71,618 | €86,726 | +€15,108 | +21.1% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €31,782 | €38,741 | +€6,959 | +21.9% |
| Taxes | 450/3 | €21,710 | €27,211 | +€5,501 | +25.3% |
| Remuneration and social security | 454/9 | €10,072 | €11,530 | +€1,458 | +14.5% |
| Other amounts payable | 47/48 | €1,110 | - | -€1,110 | |
| Accrued charges and deferred income | 492/3 | €364 | €211 | -€153 | -42.1% |
| Remuneration, social security and pensions | 62 | €78,580 | €98,226 | +€19,646 | +25.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,092 | €44,673 | +€5,581 | +14.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €8,155 | +€8,155 | |
| Other operating charges | 640/8 | €4,401 | €4,626 | +€225 | +5.1% |
| Gross operating margin | 9900 | €180,804 | €171,708 | -€9,096 | -5.0% |
| Operating profit (loss) | 9901 | €58,730 | €16,028 | -€42,702 | -72.7% |
| Financial income | 75/76B | €2,261 | €10,980 | +€8,719 | +386% |
| Recurring financial income | 75 | €2,261 | €10,980 | +€8,719 | +386% |
| Financial charges | 65/66B | €3,333 | €3,355 | +€22 | +0.7% |
| Recurring financial charges | 65 | €3,333 | €3,355 | +€22 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | €57,659 | €23,653 | -€34,006 | -59.0% |
| Income taxes | 67/77 | €23,440 | €6,174 | -€17,266 | -73.7% |
| Profit (loss) for the period | 9904 | €34,218 | €17,479 | -€16,740 | -48.9% |
| Profit (loss) for the period to be appropriated | 9905 | €34,218 | €17,479 | -€16,740 | -48.9% |
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 15 October 2026 via checked.be.