VAN BOGAERT: what changed
Two fiscal 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.
What changed
VAN BOGAERT
NACE 10.130, Manufacture of food products
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.6m
2024 · €3.4m-€1.9m
Equity
€17.2m
2024 · €15.8m+€1.4m
Cash
€1.0m
2024 · €46,182+€968,481
Balance sheet total
€32.5m
2024 · €32.3m+€119,123
Largest movements
Assets
- Cash +€968,481
up €968,481 (+2097.1%), from €46,182 to €1.0m
mainly Net result for the year (+€1.6m) and Depreciation (+€1.3m)
- Tangible fixed assets -€891,067
down €891,067 (-8.7%), from €10.2m to €9.3m
of which Plant, machinery and equipment: -€752,640
Equity and liabilities
- Reserves +€1.5m
up €1.5m (+10.3%), from €14.2m to €15.7m
of which Tax-exempt reserves: +€966,684
- Debts after one year -€1.2m
down €1.2m (-26.3%), from €4.6m to €3.4m
- Trade debts -€379,345
down €379,345 (-3.7%), from €10.3m to €9.9m
Income statement
- Goods and materials +€1.7m
up €1.7m (+1.9%), from €93.7m to €95.4m
of which Purchases: +€1.6m
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.
Result 2024
€3.4m
Turnover
+€143,810
Other operating income
+€46,179
Goods and materials
-€1.7m
Services and other goods
-€837,167
Staff costs
-€475,669
Depreciation
-€60,844
Write-downs
+€52,732
Provisions
-€3,102
Other operating charges
-€17,326
Other operating items
+€536,091
Financial income
-€205,505
Financial charges
+€93,041
Taxes
+€602,985
Result 2025
€1.6m
Cash bridge derived
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.
From operations
+€2.7m
Investment
-€405,882
Financing
-€1.4m
Cash 2024
€46,182
From operations (derived)
+€2.7m
Net result for the year
+€1.6m
Depreciation
+€1.3m
Stocks and contracts
-€116,944
Receivables within one year
+€29,181
Deferred charges and accrued income
+€46,054
Provisions
-€149,025
Trade debts
-€379,345
Tax, wage and social debts
+€138,791
Other debts
+€323,000
Accrued charges and deferred income
+€3,553
Investment (derived)
-€405,882
Investment in fixed assets (net)
-€405,882
Financing
-€1.4m
Debts after one year
-€1.2m
Current portion of long-term debt
+€11,640
Contributions, distributions and other
-€166,707
Cash 2025
€1.0m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €32,344,403 | €32,463,526 | +€119,123 | +0.4% |
| Fixed assets | 21/28 | €10,187,772 | €9,296,706 | -€891,067 | -8.7% |
| Tangible fixed assets | 22/27 | €10,187,492 | €9,296,426 | -€891,067 | -8.7% |
| Land and buildings | 22 | €3,891,577 | €3,779,252 | -€112,325 | -2.9% |
| Plant, machinery and equipment | 23 | €6,251,920 | €5,499,280 | -€752,640 | -12.0% |
| Furniture and vehicles | 24 | €43,996 | €17,894 | -€26,102 | -59.3% |
| Financial fixed assets | 28 | €280 | €280 | = | 0.0% |
| Other financial fixed assets | 284/8 | €280 | €280 | = | 0.0% |
| Shares | 284 | €255 | €255 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €22,156,630 | €23,166,820 | +€1.0m | +4.6% |
| Stocks and contracts in progress | 3 | €390,276 | €507,219 | +€116,944 | +30.0% |
| Stocks | 30/36 | €390,276 | €507,219 | +€116,944 | +30.0% |
| Raw materials and consumables | 30/31 | €263,176 | €250,480 | -€12,696 | -4.8% |
| Finished goods | 33 | €127,100 | €256,739 | +€129,640 | +102.0% |
| Amounts receivable within one year | 40/41 | €21,646,174 | €21,616,994 | -€29,181 | -0.1% |
| Trade receivables | 40 | €16,696,367 | €16,840,612 | +€144,245 | +0.9% |
| Other amounts receivable | 41 | €4,949,807 | €4,776,382 | -€173,425 | -3.5% |
| Cash at bank and in hand | 54/58 | €46,182 | €1,014,663 | +€968,481 | +2097.1% |
| Deferred charges and accrued income | 490/1 | €73,998 | €27,944 | -€46,054 | -62.2% |
| Total equity and liabilities | 10/49 | €32,344,403 | €32,463,526 | +€119,123 | +0.4% |
| Equity | 10/15 | €15,827,604 | €17,213,505 | +€1.4m | +8.8% |
| Contributions | 10/11 | €1,012,000 | €1,012,000 | = | 0.0% |
| Capital | 10 | €1,012,000 | €1,012,000 | = | 0.0% |
| Issued capital | 100 | €1,012,000 | €1,012,000 | = | 0.0% |
| Reserves | 13 | €14,224,006 | €15,690,614 | +€1.5m | +10.3% |
| Non-distributable reserves | 130/1 | €101,200 | €101,200 | = | 0.0% |
| Legal reserve | 130 | €101,200 | €101,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €842,000 | €1,808,684 | +€966,684 | +114.8% |
| Distributable reserves | 133 | €13,280,806 | €13,780,730 | +€499,924 | +3.8% |
| Investment grants | 15 | €591,598 | €510,891 | -€80,707 | -13.6% |
| Provisions and deferred taxes | 16 | €154,808 | €5,783 | -€149,025 | -96.3% |
| Provisions for liabilities and charges | 160/5 | €154,808 | €5,783 | -€149,025 | -96.3% |
| Other liabilities and charges | 164/5 | €154,808 | €5,783 | -€149,025 | -96.3% |
| Amounts payable | 17/49 | €16,361,991 | €15,244,238 | -€1.1m | -6.8% |
| Amounts payable after more than one year | 17 | €4,629,500 | €3,414,107 | -€1.2m | -26.3% |
| Financial debts | 170/4 | €4,629,500 | €3,414,107 | -€1.2m | -26.3% |
| Credit institutions | 173 | €4,629,500 | €3,414,107 | -€1.2m | -26.3% |
| Amounts payable within one year | 42/48 | €11,668,430 | €11,762,517 | +€94,087 | +0.8% |
| Current portion of amounts payable after more than one year | 42 | €1,203,753 | €1,215,393 | +€11,640 | +1.0% |
| Trade debts | 44 | €10,250,529 | €9,871,185 | -€379,345 | -3.7% |
| Suppliers | 440/4 | €10,250,529 | €9,871,185 | -€379,345 | -3.7% |
| Taxes, remuneration and social security | 45 | €214,147 | €352,939 | +€138,791 | +64.8% |
| Taxes | 450/3 | €37,224 | €49,498 | +€12,274 | +33.0% |
| Remuneration and social security | 454/9 | €176,924 | €303,441 | +€126,517 | +71.5% |
| Other amounts payable | 47/48 | - | €323,000 | +€323,000 | |
| Accrued charges and deferred income | 492/3 | €64,061 | €67,614 | +€3,553 | +5.5% |
| Operating income | 70/76A | €107,564,702 | €108,290,782 | +€726,081 | +0.7% |
| Turnover | 70 | €107,945,817 | €108,089,627 | +€143,810 | +0.1% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€406,451 | €129,640 | +€536,091 | |
| Other operating income | 74 | €25,336 | €71,515 | +€46,179 | +182.3% |
| Operating charges | 60/66A | €103,416,621 | €106,495,530 | +€3.1m | +3.0% |
| Goods for resale, raw materials and consumables | 60 | €93,664,662 | €95,402,195 | +€1.7m | +1.9% |
| Purchases | 600/8 | €93,773,538 | €95,389,498 | +€1.6m | +1.7% |
| Change in stocks: decrease (increase) | 609 | -€108,876 | €12,696 | +€121,572 | |
| Services and other goods | 61 | €7,574,401 | €8,411,568 | +€837,167 | +11.1% |
| Remuneration, social security and pensions | 62 | €994,255 | €1,469,923 | +€475,669 | +47.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,236,105 | €1,296,949 | +€60,844 | +4.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €52,732 | - | -€52,732 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€152,127 | -€149,025 | +€3,102 | +2.0% |
| Other operating charges | 640/8 | €46,593 | €63,919 | +€17,326 | +37.2% |
| Operating profit (loss) | 9901 | €4,148,081 | €1,795,252 | -€2.4m | -56.7% |
| Financial income | 75/76B | €491,569 | €286,064 | -€205,505 | -41.8% |
| Recurring financial income | 75 | €489,364 | €285,895 | -€203,468 | -41.6% |
| Income from financial fixed assets | 750 | €10 | €10 | = | 0.0% |
| Income from current assets | 751 | €229,314 | €142,816 | -€86,498 | -37.7% |
| Other financial income | 752/9 | €260,039 | €143,069 | -€116,970 | -45.0% |
| Non-recurring financial income | 76B | €2,205 | €168 | -€2,037 | -92.4% |
| Financial charges | 65/66B | €167,795 | €74,754 | -€93,041 | -55.4% |
| Recurring financial charges | 65 | €167,794 | €74,740 | -€93,054 | -55.5% |
| Debt charges | 650 | €71,031 | €63,786 | -€7,245 | -10.2% |
| Other financial charges | 652/9 | €96,763 | €10,953 | -€85,810 | -88.7% |
| Non-recurring financial charges | 66B | €1 | €14 | +€13 | +1718.2% |
| Profit (loss) for the period before taxes | 9903 | €4,471,855 | €2,006,562 | -€2.5m | -55.1% |
| Income taxes | 67/77 | €1,056,939 | €453,954 | -€602,985 | -57.1% |
| Taxes | 670/3 | €1,065,232 | €454,123 | -€611,109 | -57.4% |
| Tax adjustments and reversals of tax provisions | 77 | €8,293 | €169 | -€8,124 | -98.0% |
| Profit (loss) for the period | 9904 | €3,414,916 | €1,552,608 | -€1.9m | -54.5% |
| Transfer from tax-exempt reserves | 789 | €186,639 | €31,086 | -€155,553 | -83.3% |
| Transfer to tax-exempt reserves | 689 | - | €997,770 | +€997,770 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,601,554 | €585,924 | -€3.0m | -83.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.