BOREASWEB: 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.
BOREASWEB
Largest movements
- Cash +€13,601
up €13,601 (+18.7%), from €72,821 to €86,422
mainly Depreciation (+€37,563) and Net result for the year (+€29,312)
- Debts after one year +€14,806
new in 2025: €14,806
- Reserves +€10,312
up €10,312 (+3.8%), from €271,687 to €281,999
of which Distributable reserves: +€10,312
- Other debts -€8,693
down €8,693 (-80.3%), from €10,823 to €2,131
- Tax, wage and social debts +€4,952
up €4,952 (+23.2%), from €21,365 to €26,317
- Gross operating margin +€21,507
up €21,507 (+36.7%), from €58,532 to €80,039
- Depreciation +€11,690
up €11,690 (+45.2%), from €25,873 to €37,563
- Financial charges -€5,204
down €5,204 (-89.5%), from €5,815 to €612
of which Non-recurring financial charges: -€5,631
- Taxes +€3,699
up €3,699 (+38.7%), from €9,568 to €13,266
- Financial income -€2,684
down €2,684 (-65.4%), from €4,107 to €1,423
of which Non-recurring financial income: -€3,261
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 | €315,932 | €333,738 | +€17,807 | +5.6% |
| Fixed assets | 21/28 | €153,094 | €154,180 | +€1,086 | +0.7% |
| Tangible fixed assets | 22/27 | €153,094 | €154,180 | +€1,086 | +0.7% |
| Furniture and vehicles | 24 | €116,912 | €122,286 | +€5,374 | +4.6% |
| Other tangible fixed assets | 26 | €36,182 | €31,894 | -€4,288 | -11.9% |
| Current assets | 29/58 | €162,838 | €179,558 | +€16,721 | +10.3% |
| Stocks and contracts in progress | 3 | €2,652 | €2,809 | +€157 | +5.9% |
| Stocks | 30/36 | €2,652 | €2,809 | +€157 | +5.9% |
| Amounts receivable within one year | 40/41 | €44,075 | €46,309 | +€2,234 | +5.1% |
| Trade receivables | 40 | €44,075 | €42,043 | -€2,032 | -4.6% |
| Other amounts receivable | 41 | - | €4,266 | +€4,266 | |
| Current investments | 50/53 | €40,633 | €40,633 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €72,821 | €86,422 | +€13,601 | +18.7% |
| Deferred charges and accrued income | 490/1 | €2,658 | €3,386 | +€728 | +27.4% |
| Total equity and liabilities | 10/49 | €315,932 | €333,738 | +€17,807 | +5.6% |
| Equity | 10/15 | €277,887 | €288,199 | +€10,312 | +3.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €271,687 | €281,999 | +€10,312 | +3.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,045 | €2,045 | = | 0.0% |
| Distributable reserves | 133 | €267,781 | €278,093 | +€10,312 | +3.9% |
| Amounts payable | 17/49 | €38,045 | €45,540 | +€7,495 | +19.7% |
| Amounts payable after more than one year | 17 | - | €14,806 | +€14,806 | |
| Financial debts | 170/4 | - | €14,806 | +€14,806 | |
| Amounts payable within one year | 42/48 | €35,078 | €28,514 | -€6,563 | -18.7% |
| Trade debts | 44 | €2,890 | €67 | -€2,823 | -97.7% |
| Suppliers | 440/4 | €2,890 | €67 | -€2,823 | -97.7% |
| Taxes, remuneration and social security | 45 | €21,365 | €26,317 | +€4,952 | +23.2% |
| Taxes | 450/3 | €21,365 | €26,317 | +€4,952 | +23.2% |
| Other amounts payable | 47/48 | €10,823 | €2,131 | -€8,693 | -80.3% |
| Accrued charges and deferred income | 492/3 | €2,967 | €2,219 | -€748 | -25.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,873 | €37,563 | +€11,690 | +45.2% |
| Other operating charges | 640/8 | €1,219 | €709 | -€510 | -41.8% |
| Gross operating margin | 9900 | €58,532 | €80,039 | +€21,507 | +36.7% |
| Operating profit (loss) | 9901 | €31,440 | €41,767 | +€10,327 | +32.8% |
| Financial income | 75/76B | €4,107 | €1,423 | -€2,684 | -65.4% |
| Recurring financial income | 75 | €845 | €1,423 | +€577 | +68.3% |
| Non-recurring financial income | 76B | €3,261 | - | -€3,261 | |
| Financial charges | 65/66B | €5,815 | €612 | -€5,204 | -89.5% |
| Recurring financial charges | 65 | €184 | €612 | +€428 | +233% |
| Non-recurring financial charges | 66B | €5,631 | - | -€5,631 | |
| Profit (loss) for the period before taxes | 9903 | €29,732 | €42,578 | +€12,846 | +43.2% |
| Income taxes | 67/77 | €9,568 | €13,266 | +€3,699 | +38.7% |
| Profit (loss) for the period | 9904 | €20,164 | €29,312 | +€9,148 | +45.4% |
| Profit (loss) for the period to be appropriated | 9905 | €20,164 | €29,312 | +€9,148 | +45.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.