BORDERLAND: 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.
BORDERLAND
Largest movements
- Cash +€62,327
up €62,327 (+14.1%), from €442,013 to €504,339
mainly Net result for the year (+€115,528) and Accrued charges and deferred income (+€462)
- Profit (loss) carried forward +€72,670
up €72,670 (+8.7%), from €839,346 to €912,016
- Gross operating margin -€19,721
down €19,721 (-11.7%), from €168,833 to €149,111
- Financial income +€4,127
up €4,127 (+119.7%), from €3,448 to €7,575
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 | €1,591,596 | €1,659,059 | +€67,464 | +4.2% |
| Fixed assets | 21/28 | €1,145,239 | €1,145,239 | = | 0.0% |
| Tangible fixed assets | 22/27 | €1,145,239 | €1,145,239 | = | 0.0% |
| Land and buildings | 22 | €1,145,239 | €1,145,239 | = | 0.0% |
| Current assets | 29/58 | €446,357 | €513,820 | +€67,464 | +15.1% |
| Amounts receivable within one year | 40/41 | €3,563 | €8,770 | +€5,207 | +146.1% |
| Other amounts receivable | 41 | €3,563 | €8,770 | +€5,207 | +146.1% |
| Cash at bank and in hand | 54/58 | €442,013 | €504,339 | +€62,327 | +14.1% |
| Deferred charges and accrued income | 490/1 | €781 | €711 | -€70 | -8.9% |
| Total equity and liabilities | 10/49 | €1,591,596 | €1,659,059 | +€67,464 | +4.2% |
| Equity | 10/15 | €1,539,684 | €1,612,354 | +€72,670 | +4.7% |
| Contributions | 10/11 | €195,000 | €195,000 | = | 0.0% |
| Reserves | 13 | €505,338 | €505,338 | = | 0.0% |
| Distributable reserves | 133 | €505,338 | €505,338 | = | 0.0% |
| Profit (loss) carried forward | 14 | €839,346 | €912,016 | +€72,670 | +8.7% |
| Amounts payable | 17/49 | €51,912 | €46,706 | -€5,206 | -10.0% |
| Amounts payable within one year | 42/48 | €51,447 | €45,779 | -€5,668 | -11.0% |
| Trade debts | 44 | €8,589 | €2,921 | -€5,668 | -66.0% |
| Suppliers | 440/4 | €8,589 | €2,921 | -€5,668 | -66.0% |
| Other amounts payable | 47/48 | €42,858 | €42,858 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €465 | €927 | +€462 | +99.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €571 | - | -€571 | |
| Other operating charges | 640/8 | €2,536 | €2,617 | +€81 | +3.2% |
| Gross operating margin | 9900 | €168,833 | €149,111 | -€19,721 | -11.7% |
| Operating profit (loss) | 9901 | €165,726 | €146,495 | -€19,232 | -11.6% |
| Financial income | 75/76B | €3,448 | €7,575 | +€4,127 | +119.7% |
| Recurring financial income | 75 | €3,448 | €7,575 | +€4,127 | +119.7% |
| Financial charges | 65/66B | €74 | €59 | -€14 | -19.3% |
| Recurring financial charges | 65 | €74 | €59 | -€14 | -19.3% |
| Profit (loss) for the period before taxes | 9903 | €169,101 | €154,010 | -€15,091 | -8.9% |
| Income taxes | 67/77 | €37,471 | €38,483 | +€1,012 | +2.7% |
| Profit (loss) for the period | 9904 | €131,630 | €115,528 | -€16,102 | -12.2% |
| Profit (loss) for the period to be appropriated | 9905 | €131,630 | €115,528 | -€16,102 | -12.2% |
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 8 October 2026 via checked.be.