BOGDAN CONSTRUCT: what changed
BOGDAN CONSTRUCT
Largest movements
- Receivables within one year +€10,316
up €10,316 (+7.4%), from €139,634 to €149,950
of which Trade receivables: +€9,908
- Cash +€8,628
up €8,628 (+83.5%), from €10,330 to €18,958
mainly Other debts (+€40,506) and Debts after one year (+€32,176)
- Short-term financial debts -€48,060
down €48,060 (-96.0%), from €50,060 to €2,000
- Other debts +€40,506
up €40,506 (+4,622%), from €876 to €41,382
- Debts after one year +€32,176
up €32,176 (+268%), from €12,000 to €44,176
- Trade debts -€16,809
down €16,809 (-72.9%), from €23,057 to €6,248
- Profit (loss) carried forward +€14,145
up €14,145 (+168%), from €8,443 to €22,587
- Gross operating margin -€23,292
down €23,292 (-43.4%), from €53,725 to €30,433
- Financial charges -€13,464
down €13,464 (-49.4%), from €27,249 to €13,784
- Financial income -€8,799
down €8,799 (-89.2%), from €9,870 to €1,071
- Taxes +€1,255
new in 2025: €1,255
- Depreciation -€614
down €614 (-31.1%), from €1,975 to €1,361
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 | €158,717 | €176,299 | +€17,583 | +11.1% |
| Fixed assets | 21/28 | €8,592 | €7,231 | -€1,361 | -15.8% |
| Tangible fixed assets | 22/27 | €3,592 | €2,231 | -€1,361 | -37.9% |
| Plant, machinery and equipment | 23 | €3,591 | €2,231 | -€1,361 | -37.9% |
| Furniture and vehicles | 24 | €0 | €0 | = | 0.0% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €150,125 | €169,069 | +€18,943 | +12.6% |
| Amounts receivable within one year | 40/41 | €139,634 | €149,950 | +€10,316 | +7.4% |
| Trade receivables | 40 | €111,435 | €121,343 | +€9,908 | +8.9% |
| Other amounts receivable | 41 | €28,199 | €28,607 | +€408 | +1.4% |
| Cash at bank and in hand | 54/58 | €10,330 | €18,958 | +€8,628 | +83.5% |
| Deferred charges and accrued income | 490/1 | €161 | €161 | = | 0.0% |
| Total equity and liabilities | 10/49 | €158,717 | €176,299 | +€17,583 | +11.1% |
| Equity | 10/15 | €18,726 | €32,871 | +€14,145 | +75.5% |
| Contributions | 10/11 | €7,283 | €7,283 | = | 0.0% |
| Reserves | 13 | €3,000 | €3,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,000 | €3,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,443 | €22,587 | +€14,145 | +168% |
| Amounts payable | 17/49 | €139,991 | €143,429 | +€3,438 | +2.5% |
| Amounts payable after more than one year | 17 | €12,000 | €44,176 | +€32,176 | +268% |
| Financial debts | 170/4 | €12,000 | €44,176 | +€32,176 | +268% |
| Amounts payable within one year | 42/48 | €97,991 | €69,253 | -€28,738 | -29.3% |
| Financial debts | 43 | €50,060 | €2,000 | -€48,060 | -96.0% |
| Credit institutions | 430/8 | €50,060 | €2,000 | -€48,060 | -96.0% |
| Trade debts | 44 | €23,057 | €6,248 | -€16,809 | -72.9% |
| Suppliers | 440/4 | €23,057 | €6,248 | -€16,809 | -72.9% |
| Advances received on contracts in progress | 46 | €19,623 | €19,623 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €4,375 | - | -€4,375 | |
| Taxes | 450/3 | €4,375 | - | -€4,375 | |
| Other amounts payable | 47/48 | €876 | €41,382 | +€40,506 | +4,622% |
| Accrued charges and deferred income | 492/3 | €30,000 | €30,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,975 | €1,361 | -€614 | -31.1% |
| Other operating charges | 640/8 | €1,456 | €959 | -€498 | -34.2% |
| Gross operating margin | 9900 | €53,725 | €30,433 | -€23,292 | -43.4% |
| Operating profit (loss) | 9901 | €50,294 | €28,114 | -€22,181 | -44.1% |
| Financial income | 75/76B | €9,870 | €1,071 | -€8,799 | -89.2% |
| Recurring financial income | 75 | €9,870 | €1,071 | -€8,799 | -89.2% |
| Financial charges | 65/66B | €27,249 | €13,784 | -€13,464 | -49.4% |
| Recurring financial charges | 65 | €27,249 | €13,784 | -€13,464 | -49.4% |
| Profit (loss) for the period before taxes | 9903 | €32,915 | €15,400 | -€17,516 | -53.2% |
| Income taxes | 67/77 | - | €1,255 | +€1,255 | |
| Profit (loss) for the period | 9904 | €32,915 | €14,145 | -€18,771 | -57.0% |
| Profit (loss) for the period to be appropriated | 9905 | €32,915 | €14,145 | -€18,771 | -57.0% |
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 1 November 2026 via checked.be.