PATRICK VAN BOGAERT: what changed
What changed
PATRICK VAN BOGAERT
NACE 41.001, General construction of residential buildings
filed annual accounts (NBB)
Net result for the year
€56,090
2024 · €55,473+€617
Equity
€613,697
2024 · €557,607+€56,090
Cash
€126,147
2024 · €86,429+€39,718
Balance sheet total
€1.1m
2024 · €927,649+€127,371
Largest movements
Assets
- Stocks and contracts +€155,949
up €155,949 (+28.7%), from €543,236 to €699,185
of which Stocks: +€155,949
- Receivables within one year -€77,204
down €77,204 (-41.1%), from €187,842 to €110,639
of which Trade receivables: -€49,998
- Cash +€39,718
up €39,718 (+46.0%), from €86,429 to €126,147
mainly Short-term financial debts (+€173,085) and Receivables within one year (+€77,204)
- Deferred charges and accrued income +€19,436
up €19,436 (+28.8%), from €67,393 to €86,829
Equity and liabilities
- Short-term financial debts +€173,085
up €173,085 (+155%), from €111,737 to €284,822
- Trade debts -€106,530
down €106,530 (-85.5%), from €124,565 to €18,035
- Reserves +€56,090
up €56,090 (+12.8%), from €439,007 to €495,097
Income statement
- Gross operating margin +€36,718
up €36,718 (+14.6%), from €251,362 to €288,079
- Staff costs +€28,022
up €28,022 (+19.0%), from €147,714 to €175,736
- Financial charges +€7,060
up €7,060 (+75.7%), from €9,328 to €16,388
- Taxes +€3,174
up €3,174 (+15.7%), from €20,188 to €23,363
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.
Result 2024
€55,473
Gross operating margin
+€36,718
Staff costs
-€28,022
Depreciation
+€1,167
Other operating charges
+€1,440
Financial income
-€451
Financial charges
-€7,060
Taxes
-€3,174
Result 2025
€56,090
raises the resultlowers the result
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.
From operations
-€134,692
Investment
-€4,171
Financing
+€178,581
Cash 2024
€86,429
From operations (derived)
-€134,692
Net result for the year
+€56,090
Depreciation
+€14,700
Stocks and contracts
-€155,949
Receivables within one year
+€77,204
Deferred charges and accrued income
-€19,436
Trade debts
-€106,530
Tax, wage and social debts
-€771
Investment (derived)
-€4,171
Investment in fixed assets (net)
-€4,171
Financing
+€178,581
Debts after one year
+€8,672
Current portion of long-term debt
-€3,175
Short-term financial debts
+€173,085
Cash 2025
€126,147
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €927,649 | €1,055,020 | +€127,371 | +13.7% |
| Fixed assets | 21/28 | €42,749 | €32,220 | -€10,529 | -24.6% |
| Tangible fixed assets | 22/27 | €42,699 | €32,171 | -€10,529 | -24.7% |
| Land and buildings | 22 | €22,954 | €16,765 | -€6,189 | -27.0% |
| Plant, machinery and equipment | 23 | €2,633 | €644 | -€1,988 | -75.5% |
| Furniture and vehicles | 24 | €17,113 | €9,725 | -€7,388 | -43.2% |
| Other tangible fixed assets | 26 | - | €5,036 | +€5,036 | |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €884,900 | €1,022,799 | +€137,900 | +15.6% |
| Stocks and contracts in progress | 3 | €543,236 | €699,185 | +€155,949 | +28.7% |
| Stocks | 30/36 | €543,236 | €699,185 | +€155,949 | +28.7% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €187,842 | €110,639 | -€77,204 | -41.1% |
| Trade receivables | 40 | €153,995 | €103,997 | -€49,998 | -32.5% |
| Other amounts receivable | 41 | €33,847 | €6,642 | -€27,206 | -80.4% |
| Cash at bank and in hand | 54/58 | €86,429 | €126,147 | +€39,718 | +46.0% |
| Deferred charges and accrued income | 490/1 | €67,393 | €86,829 | +€19,436 | +28.8% |
| Total equity and liabilities | 10/49 | €927,649 | €1,055,020 | +€127,371 | +13.7% |
| Equity | 10/15 | €557,607 | €613,697 | +€56,090 | +10.1% |
| Contributions | 10/11 | €118,600 | €118,600 | = | 0.0% |
| Reserves | 13 | €439,007 | €495,097 | +€56,090 | +12.8% |
| Distributable reserves | 133 | €439,007 | €495,097 | +€56,090 | +12.8% |
| Amounts payable | 17/49 | €370,042 | €441,322 | +€71,281 | +19.3% |
| Amounts payable after more than one year | 17 | €111,728 | €120,399 | +€8,672 | +7.8% |
| Financial debts | 170/4 | €4,568 | €0 | -€4,568 | -100% |
| Other amounts payable | 178/9 | €107,159 | €120,399 | +€13,240 | +12.4% |
| Amounts payable within one year | 42/48 | €258,314 | €320,923 | +€62,609 | +24.2% |
| Current portion of amounts payable after more than one year | 42 | €7,744 | €4,568 | -€3,175 | -41.0% |
| Financial debts | 43 | €111,737 | €284,822 | +€173,085 | +155% |
| Credit institutions | 430/8 | €111,737 | €284,822 | +€173,085 | +155% |
| Trade debts | 44 | €124,565 | €18,035 | -€106,530 | -85.5% |
| Suppliers | 440/4 | €124,565 | €18,035 | -€106,530 | -85.5% |
| Taxes, remuneration and social security | 45 | €14,269 | €13,498 | -€771 | -5.4% |
| Taxes | 450/3 | €3,540 | €6,224 | +€2,684 | +75.8% |
| Remuneration and social security | 454/9 | €10,729 | €7,274 | -€3,455 | -32.2% |
| Remuneration, social security and pensions | 62 | €147,714 | €175,736 | +€28,022 | +19.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,866 | €14,700 | -€1,167 | -7.4% |
| Other operating charges | 640/8 | €3,303 | €1,862 | -€1,440 | -43.6% |
| Gross operating margin | 9900 | €251,362 | €288,079 | +€36,718 | +14.6% |
| Operating profit (loss) | 9901 | €84,478 | €95,781 | +€11,303 | +13.4% |
| Financial income | 75/76B | €511 | €60 | -€451 | -88.2% |
| Recurring financial income | 75 | €511 | €60 | -€451 | -88.2% |
| Financial charges | 65/66B | €9,328 | €16,388 | +€7,060 | +75.7% |
| Recurring financial charges | 65 | €9,328 | €16,388 | +€7,060 | +75.7% |
| Profit (loss) for the period before taxes | 9903 | €75,662 | €79,453 | +€3,791 | +5.0% |
| Income taxes | 67/77 | €20,188 | €23,363 | +€3,174 | +15.7% |
| Profit (loss) for the period | 9904 | €55,473 | €56,090 | +€617 | +1.1% |
| Profit (loss) for the period to be appropriated | 9905 | €55,473 | €56,090 | +€617 | +1.1% |
Next steps
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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 7 November 2026 via checked.be.