BOR: 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.
BOR
Largest movements
- Tangible fixed assets +€17,040
up €17,040 (+12.0%), from €142,467 to €159,507
of which Land and buildings: +€8,766
- Receivables within one year -€5,262
down €5,262 (-4.7%), from €111,635 to €106,373
of which Other amounts receivable: -€8,918
- Other debts +€47,198
up €47,198 (+24.1%), from €195,556 to €242,753
- Debts after one year -€20,656
down €20,656 (-50.3%), from €41,069 to €20,414
- Trade debts -€19,767
down €19,767 (-26.1%), from €75,694 to €55,927
- Profit (loss) carried forward +€3,251
up €3,251 (+1.1%), from -€297,744 to -€294,493
- Short-term financial debts -€3,094
down €3,094 (-18.5%), from €16,723 to €13,629
- Gross operating margin +€76,088
up €76,088 (+304.9%), from €24,958 to €101,046
- Depreciation +€6,721
up €6,721 (+34.2%), from €19,677 to €26,398
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €284,004 | €297,685 | +€13,682 | +4.8% |
| Fixed assets | 21/28 | €150,408 | €167,448 | +€17,040 | +11.3% |
| Tangible fixed assets | 22/27 | €142,467 | €159,507 | +€17,040 | +12.0% |
| Land and buildings | 22 | €112,729 | €121,495 | +€8,766 | +7.8% |
| Plant, machinery and equipment | 23 | €8,150 | €11,019 | +€2,868 | +35.2% |
| Furniture and vehicles | 24 | €21,588 | €26,993 | +€5,405 | +25.0% |
| Financial fixed assets | 28 | €7,941 | €7,941 | = | 0.0% |
| Current assets | 29/58 | €133,595 | €130,237 | -€3,358 | -2.5% |
| Stocks and contracts in progress | 3 | €8,926 | €8,926 | = | 0.0% |
| Stocks | 30/36 | €8,926 | €8,926 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €111,635 | €106,373 | -€5,262 | -4.7% |
| Trade receivables | 40 | €58,575 | €62,232 | +€3,657 | +6.2% |
| Other amounts receivable | 41 | €53,060 | €44,141 | -€8,918 | -16.8% |
| Cash at bank and in hand | 54/58 | €10,983 | €11,031 | +€48 | +0.4% |
| Deferred charges and accrued income | 490/1 | €2,052 | €3,907 | +€1,855 | +90.4% |
| Total equity and liabilities | 10/49 | €284,004 | €297,685 | +€13,682 | +4.8% |
| Equity | 10/15 | -€73,155 | -€69,904 | +€3,251 | +4.4% |
| Contributions | 10/11 | €192,900 | €192,900 | = | 0.0% |
| Reserves | 13 | €31,688 | €31,688 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,938 | €12,938 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,938 | €12,938 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€297,744 | -€294,493 | +€3,251 | +1.1% |
| Amounts payable | 17/49 | €357,159 | €367,590 | +€10,431 | +2.9% |
| Amounts payable after more than one year | 17 | €41,069 | €20,414 | -€20,656 | -50.3% |
| Financial debts | 170/4 | €41,069 | €20,414 | -€20,656 | -50.3% |
| Amounts payable within one year | 42/48 | €316,090 | €347,176 | +€31,087 | +9.8% |
| Current portion of amounts payable after more than one year | 42 | €18,850 | €20,656 | +€1,806 | +9.6% |
| Financial debts | 43 | €16,723 | €13,629 | -€3,094 | -18.5% |
| Credit institutions | 430/8 | €16,723 | €13,629 | -€3,094 | -18.5% |
| Trade debts | 44 | €75,694 | €55,927 | -€19,767 | -26.1% |
| Suppliers | 440/4 | €75,694 | €55,927 | -€19,767 | -26.1% |
| Advances received on contracts in progress | 46 | - | €2,892 | +€2,892 | |
| Taxes, remuneration and social security | 45 | €9,268 | €11,319 | +€2,052 | +22.1% |
| Taxes | 450/3 | €1,544 | €5,309 | +€3,765 | +243.8% |
| Remuneration and social security | 454/9 | €7,723 | €6,010 | -€1,713 | -22.2% |
| Other amounts payable | 47/48 | €195,556 | €242,753 | +€47,198 | +24.1% |
| Non-recurring operating income | 76A | €8,420 | - | -€8,420 | |
| Remuneration, social security and pensions | 62 | €58,713 | €58,542 | -€171 | -0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,677 | €26,398 | +€6,721 | +34.2% |
| Other operating charges | 640/8 | €7,628 | €8,006 | +€377 | +4.9% |
| Gross operating margin | 9900 | €24,958 | €101,046 | +€76,088 | +304.9% |
| Operating profit (loss) | 9901 | -€61,061 | €8,099 | +€69,160 | |
| Financial income | 75/76B | €2,626 | €2,378 | -€249 | -9.5% |
| Recurring financial income | 75 | €2,626 | €2,378 | -€249 | -9.5% |
| Financial charges | 65/66B | €7,993 | €7,084 | -€909 | -11.4% |
| Recurring financial charges | 65 | €7,993 | €7,084 | -€909 | -11.4% |
| Profit (loss) for the period before taxes | 9903 | -€66,427 | €3,393 | +€69,821 | |
| Income taxes | 67/77 | €105 | €142 | +€37 | +35.5% |
| Profit (loss) for the period | 9904 | -€66,532 | €3,251 | +€69,783 | |
| Profit (loss) for the period to be appropriated | 9905 | -€66,532 | €3,251 | +€69,783 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.