BORDEAUX I: what changed
Two financial 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.
BORDEAUX I
Largest movements
- Receivables within one year +€201,746
up €201,746 (+1.3%), from €15.7m to €15.9m
of which Other amounts receivable: +€220,471
- Other debts +€384,492
up €384,492 (+2.7%), from €14.4m to €14.8m
- Debts after one year -€375,000
down €375,000 (-42.9%), from €875,000 to €500,000
- Gross operating margin +€125,058
up €125,058 (+97.1%), from -€128,743 to -€3,685
- Taxes -€30,274
down €30,274 (-100%), from €30,274 to €0
- Financial income +€3,687
up €3,687 (+2.0%), from €186,871 to €190,558
- Other operating charges -€2,770
down €2,770 (-61.5%), from €4,505 to €1,735
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.
Derived cash bridge
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 | €15,944,985 | €16,140,569 | +€195,584 | +1.2% |
| Fixed assets | 21/28 | €91,035 | €90,605 | -€430 | -0.5% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €1,235 | €805 | -€430 | -34.8% |
| Other tangible fixed assets | 26 | €1,235 | €805 | -€430 | -34.8% |
| Financial fixed assets | 28 | €89,800 | €89,800 | = | 0.0% |
| Current assets | 29/58 | €15,853,950 | €16,049,964 | +€196,014 | +1.2% |
| Stocks and contracts in progress | 3 | €52,722 | €105,456 | +€52,734 | +100% |
| Stocks | 30/36 | €52,722 | €105,456 | +€52,734 | +100% |
| Amounts receivable within one year | 40/41 | €15,738,090 | €15,939,836 | +€201,746 | +1.3% |
| Trade receivables | 40 | €135,218 | €116,493 | -€18,725 | -13.8% |
| Other amounts receivable | 41 | €15,602,872 | €15,823,343 | +€220,471 | +1.4% |
| Cash at bank and in hand | 54/58 | €63,138 | €4,672 | -€58,465 | -92.6% |
| Total equity and liabilities | 10/49 | €15,944,985 | €16,140,569 | +€195,584 | +1.2% |
| Equity | 10/15 | €439,454 | €568,453 | +€128,999 | +29.4% |
| Contributions | 10/11 | €1,700,000 | €1,700,000 | = | 0.0% |
| Capital | 10 | €1,700,000 | €1,700,000 | = | 0.0% |
| Issued capital | 100 | €1,700,000 | €1,700,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,260,546 | -€1,131,547 | +€128,999 | +10.2% |
| Amounts payable | 17/49 | €15,505,531 | €15,572,116 | +€66,585 | +0.4% |
| Amounts payable after more than one year | 17 | €875,000 | €500,000 | -€375,000 | -42.9% |
| Financial debts | 170/4 | €875,000 | €500,000 | -€375,000 | -42.9% |
| Amounts payable within one year | 42/48 | €14,458,031 | €14,877,116 | +€419,085 | +2.9% |
| Trade debts | 44 | €27,069 | €56,590 | +€29,521 | +109% |
| Suppliers | 440/4 | €27,069 | €56,590 | +€29,521 | +109% |
| Taxes, remuneration and social security | 45 | - | €5,072 | +€5,072 | |
| Taxes | 450/3 | - | €5,072 | +€5,072 | |
| Other amounts payable | 47/48 | €14,430,962 | €14,815,454 | +€384,492 | +2.7% |
| Accrued charges and deferred income | 492/3 | €172,500 | €195,000 | +€22,500 | +13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,458 | €430 | -€1,028 | -70.5% |
| Other operating charges | 640/8 | €4,505 | €1,735 | -€2,770 | -61.5% |
| Gross operating margin | 9900 | -€128,743 | -€3,685 | +€125,058 | +97.1% |
| Operating profit (loss) | 9901 | -€134,705 | -€5,850 | +€128,855 | +95.7% |
| Financial income | 75/76B | €186,871 | €190,558 | +€3,687 | +2.0% |
| Recurring financial income | 75 | €186,871 | €190,558 | +€3,687 | +2.0% |
| Financial charges | 65/66B | €56,637 | €55,708 | -€929 | -1.6% |
| Recurring financial charges | 65 | €56,637 | €55,708 | -€929 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | -€4,471 | €128,999 | +€133,471 | |
| Income taxes | 67/77 | €30,274 | €0 | -€30,274 | -100% |
| Profit (loss) for the period | 9904 | -€34,745 | €128,999 | +€163,744 | |
| Profit (loss) for the period to be appropriated | 9905 | -€34,745 | €128,999 | +€163,744 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.