Bordes Waregem: 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.
Bordes Waregem
Largest movements
- Intangible fixed assets -€38,362
down €38,362 (-10.6%), from €362,204 to €323,842
- Cash -€13,048
down €13,048 (-16.1%), from €81,252 to €68,204
mainly Debts after one year (-€117,171) and Accrued charges and deferred income (-€4,950)
- Tangible fixed assets -€11,077
down €11,077 (-13.7%), from €80,898 to €69,821
- Debts after one year -€117,171
down €117,171 (-34.1%), from €343,187 to €226,015
of which Other amounts payable: -€72,000
- Reserves +€47,850
up €47,850 (+356%), from €13,428 to €61,278
- Trade debts +€7,725
up €7,725 (+20.3%), from €38,047 to €45,771
- Gross operating margin +€93,765
up €93,765 (+195%), from €48,178 to €141,944
- Taxes +€22,502
up €22,502 (+2,148%), from €1,047 to €23,549
- Depreciation +€15,769
up €15,769 (+42.9%), from €36,732 to €52,501
- Other operating charges +€5,554
up €5,554 (+174%), from €3,190 to €8,744
- Financial charges +€4,159
up €4,159 (+80.9%), from €5,141 to €9,300
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 | €540,772 | €478,709 | -€62,063 | -11.5% |
| Formation expenses | 20 | €548 | €0 | -€548 | -100% |
| Fixed assets | 21/28 | €443,101 | €393,663 | -€49,438 | -11.2% |
| Intangible fixed assets | 21 | €362,204 | €323,842 | -€38,362 | -10.6% |
| Tangible fixed assets | 22/27 | €80,898 | €69,821 | -€11,077 | -13.7% |
| Plant, machinery and equipment | 23 | €4,873 | €3,244 | -€1,629 | -33.4% |
| Furniture and vehicles | 24 | €7,742 | €3,209 | -€4,532 | -58.5% |
| Other tangible fixed assets | 26 | €68,284 | €63,368 | -€4,916 | -7.2% |
| Current assets | 29/58 | €97,123 | €85,046 | -€12,077 | -12.4% |
| Amounts receivable within one year | 40/41 | €14,851 | €12,790 | -€2,060 | -13.9% |
| Trade receivables | 40 | €11,775 | €9,080 | -€2,695 | -22.9% |
| Other amounts receivable | 41 | €3,076 | €3,710 | +€635 | +20.6% |
| Cash at bank and in hand | 54/58 | €81,252 | €68,204 | -€13,048 | -16.1% |
| Deferred charges and accrued income | 490/1 | €1,020 | €4,051 | +€3,031 | +297% |
| Total equity and liabilities | 10/49 | €540,772 | €478,709 | -€62,063 | -11.5% |
| Equity | 10/15 | €33,428 | €81,278 | +€47,850 | +143% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €13,428 | €61,278 | +€47,850 | +356% |
| Distributable reserves | 133 | €13,428 | €61,278 | +€47,850 | +356% |
| Amounts payable | 17/49 | €507,344 | €397,431 | -€109,913 | -21.7% |
| Amounts payable after more than one year | 17 | €343,187 | €226,015 | -€117,171 | -34.1% |
| Financial debts | 170/4 | €271,187 | €226,015 | -€45,171 | -16.7% |
| Other amounts payable | 178/9 | €72,000 | €0 | -€72,000 | -100% |
| Amounts payable within one year | 42/48 | €159,208 | €171,416 | +€12,208 | +7.7% |
| Current portion of amounts payable after more than one year | 42 | €115,873 | €117,171 | +€1,298 | +1.1% |
| Financial debts | 43 | €13 | €64 | +€51 | +396% |
| Credit institutions | 430/8 | €13 | €64 | +€51 | +396% |
| Trade debts | 44 | €38,047 | €45,771 | +€7,725 | +20.3% |
| Suppliers | 440/4 | €38,047 | €45,771 | +€7,725 | +20.3% |
| Taxes, remuneration and social security | 45 | €4,915 | €8,409 | +€3,494 | +71.1% |
| Taxes | 450/3 | €4,915 | €8,409 | +€3,494 | +71.1% |
| Other amounts payable | 47/48 | €360 | €0 | -€360 | -100% |
| Accrued charges and deferred income | 492/3 | €4,950 | €0 | -€4,950 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,732 | €52,501 | +€15,769 | +42.9% |
| Other operating charges | 640/8 | €3,190 | €8,744 | +€5,554 | +174% |
| Gross operating margin | 9900 | €48,178 | €141,944 | +€93,765 | +195% |
| Operating profit (loss) | 9901 | €8,256 | €80,699 | +€72,443 | +877% |
| Financial income | 75/76B | €43 | €0 | -€43 | -100% |
| Recurring financial income | 75 | €43 | €0 | -€43 | -100% |
| Financial charges | 65/66B | €5,141 | €9,300 | +€4,159 | +80.9% |
| Recurring financial charges | 65 | €5,141 | €9,300 | +€4,159 | +80.9% |
| Profit (loss) for the period before taxes | 9903 | €3,158 | €71,399 | +€68,241 | +2,161% |
| Income taxes | 67/77 | €1,047 | €23,549 | +€22,502 | +2,148% |
| Profit (loss) for the period | 9904 | €2,111 | €47,850 | +€45,739 | +2,167% |
| Profit (loss) for the period to be appropriated | 9905 | €2,111 | €47,850 | +€45,739 | +2,167% |
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 15 October 2026 via checked.be.