BORBOUSE: 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.
BORBOUSE
Largest movements
- Tangible fixed assets -€17,412
down €17,412 (-21.2%), from €82,245 to €64,833
of which Land and buildings: -€11,193
- Cash +€8,854
up €8,854 (+62.8%), from €14,110 to €22,964
mainly Other debts (+€30,479) and Net result for the year (+€26,697)
- Stocks and contracts -€6,192
down €6,192 (-1.2%), from €500,026 to €493,834
- Other debts +€30,479
up €30,479 (+65.2%), from €46,782 to €77,261
- Reserves -€28,000
down €28,000 (-8.6%), from €326,860 to €298,860
of which Distributable reserves: -€28,000
- Debts after one year -€12,145
down €12,145 (-14.7%), from €82,434 to €70,289
- Gross operating margin -€5,244
down €5,244 (-5.1%), from €103,682 to €98,437
- Other operating charges -€2,693
down €2,693 (-56.2%), from €4,790 to €2,097
- Taxes -€2,255
down €2,255 (-14.0%), from €16,055 to €13,800
- Financial income +€1,975
up €1,975 (+2244.7%), from €88 to €2,063
- Staff costs +€1,721
up €1,721 (+5.8%), from €29,703 to €31,424
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 | €597,114 | €581,972 | -€15,142 | -2.5% |
| Fixed assets | 21/28 | €82,398 | €64,986 | -€17,412 | -21.1% |
| Tangible fixed assets | 22/27 | €82,245 | €64,833 | -€17,412 | -21.2% |
| Land and buildings | 22 | €34,786 | €23,593 | -€11,193 | -32.2% |
| Plant, machinery and equipment | 23 | €21,034 | €18,399 | -€2,635 | -12.5% |
| Furniture and vehicles | 24 | €26,425 | €22,841 | -€3,584 | -13.6% |
| Financial fixed assets | 28 | €153 | €153 | = | 0.0% |
| Current assets | 29/58 | €514,717 | €516,986 | +€2,269 | +0.4% |
| Stocks and contracts in progress | 3 | €500,026 | €493,834 | -€6,192 | -1.2% |
| Stocks | 30/36 | €500,026 | €493,834 | -€6,192 | -1.2% |
| Cash at bank and in hand | 54/58 | €14,110 | €22,964 | +€8,854 | +62.8% |
| Deferred charges and accrued income | 490/1 | €581 | €188 | -€393 | -67.7% |
| Total equity and liabilities | 10/49 | €597,114 | €581,972 | -€15,142 | -2.5% |
| Equity | 10/15 | €410,277 | €382,974 | -€27,303 | -6.7% |
| Contributions | 10/11 | €70,900 | €70,900 | = | 0.0% |
| Outside capital | 11 | €70,900 | €70,900 | = | 0.0% |
| Other | 1109/19 | €70,900 | €70,900 | = | 0.0% |
| Reserves | 13 | €326,860 | €298,860 | -€28,000 | -8.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €325,000 | €297,000 | -€28,000 | -8.6% |
| Profit (loss) carried forward | 14 | €12,517 | €13,214 | +€697 | +5.6% |
| Amounts payable | 17/49 | €186,837 | €198,998 | +€12,161 | +6.5% |
| Amounts payable after more than one year | 17 | €82,434 | €70,289 | -€12,145 | -14.7% |
| Financial debts | 170/4 | €82,434 | €70,289 | -€12,145 | -14.7% |
| Amounts payable within one year | 42/48 | €104,402 | €128,708 | +€24,306 | +23.3% |
| Current portion of amounts payable after more than one year | 42 | €11,808 | €12,145 | +€337 | +2.9% |
| Trade debts | 44 | €27,583 | €22,910 | -€4,673 | -16.9% |
| Suppliers | 440/4 | €27,583 | €22,910 | -€4,673 | -16.9% |
| Taxes, remuneration and social security | 45 | €18,230 | €16,393 | -€1,837 | -10.1% |
| Taxes | 450/3 | €11,446 | €9,385 | -€2,062 | -18.0% |
| Remuneration and social security | 454/9 | €6,783 | €7,008 | +€225 | +3.3% |
| Other amounts payable | 47/48 | €46,782 | €77,261 | +€30,479 | +65.2% |
| Remuneration, social security and pensions | 62 | €29,703 | €31,424 | +€1,721 | +5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,519 | €21,813 | +€294 | +1.4% |
| Other operating charges | 640/8 | €4,790 | €2,097 | -€2,693 | -56.2% |
| Gross operating margin | 9900 | €103,682 | €98,437 | -€5,244 | -5.1% |
| Operating profit (loss) | 9901 | €47,670 | €43,104 | -€4,566 | -9.6% |
| Financial income | 75/76B | €88 | €2,063 | +€1,975 | +2244.7% |
| Recurring financial income | 75 | €88 | €2,063 | +€1,975 | +2244.7% |
| Financial charges | 65/66B | €5,430 | €4,670 | -€760 | -14.0% |
| Recurring financial charges | 65 | €5,430 | €4,670 | -€760 | -14.0% |
| Profit (loss) for the period before taxes | 9903 | €42,328 | €40,497 | -€1,831 | -4.3% |
| Income taxes | 67/77 | €16,055 | €13,800 | -€2,255 | -14.0% |
| Profit (loss) for the period | 9904 | €26,273 | €26,697 | +€424 | +1.6% |
| Profit (loss) for the period to be appropriated | 9905 | €26,273 | €26,697 | +€424 | +1.6% |
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.