BORELLI: 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.
BORELLI
Largest movements
- Receivables within one year -€5,817
down €5,817 (-54.7%), from €10,637 to €4,820
of which Other amounts receivable: -€4,929
- Cash -€2,459
down €2,459 (-26.3%), from €9,364 to €6,905
mainly Other debts (-€16,000) and Trade debts (-€193)
- Other debts -€16,000
down €16,000 (-79.5%), from €20,115 to €4,115
- Reserves +€4,802
up €4,802 (+67.2%), from €7,145 to €11,947
of which Distributable reserves: +€4,802
- Tax, wage and social debts +€2,546
up €2,546 (+655.0%), from €389 to €2,935
- Financial income -€5,606
down €5,606 (-81.6%), from €6,867 to €1,261
- Taxes +€1,467
up €1,467 (+157.1%), from €934 to €2,400
- Gross operating margin +€983
up €983 (+15.6%), from €6,298 to €7,282
- Financial charges -€363
down €363 (-22.9%), from €1,583 to €1,220
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 | €65,739 | €57,463 | -€8,276 | -12.6% |
| Fixed assets | 21/28 | €2,238 | €2,238 | = | 0.0% |
| Financial fixed assets | 28 | €2,238 | €2,238 | = | 0.0% |
| Current assets | 29/58 | €63,501 | €55,225 | -€8,276 | -13.0% |
| Amounts receivable after more than one year | 29 | €43,500 | €43,500 | = | 0.0% |
| Other amounts receivable | 291 | €43,500 | €43,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €10,637 | €4,820 | -€5,817 | -54.7% |
| Trade receivables | 40 | €4,427 | €3,539 | -€888 | -20.1% |
| Other amounts receivable | 41 | €6,211 | €1,281 | -€4,929 | -79.4% |
| Cash at bank and in hand | 54/58 | €9,364 | €6,905 | -€2,459 | -26.3% |
| Total equity and liabilities | 10/49 | €65,739 | €57,463 | -€8,276 | -12.6% |
| Equity | 10/15 | €35,613 | €40,415 | +€4,802 | +13.5% |
| Contributions | 10/11 | €20,734 | €20,734 | = | 0.0% |
| Reserves | 13 | €7,145 | €11,947 | +€4,802 | +67.2% |
| Non-distributable reserves | 130/1 | €2,142 | €2,142 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,142 | €2,142 | = | 0.0% |
| Distributable reserves | 133 | €5,003 | €9,805 | +€4,802 | +96.0% |
| Profit (loss) carried forward | 14 | €7,734 | €7,734 | = | 0.0% |
| Amounts payable | 17/49 | €30,126 | €17,048 | -€13,078 | -43.4% |
| Amounts payable within one year | 42/48 | €30,126 | €17,048 | -€13,078 | -43.4% |
| Financial debts | 43 | €9,429 | €9,999 | +€569 | +6.0% |
| Credit institutions | 430/8 | €9,429 | €9,999 | +€569 | +6.0% |
| Trade debts | 44 | €193 | - | -€193 | |
| Suppliers | 440/4 | €193 | - | -€193 | |
| Taxes, remuneration and social security | 45 | €389 | €2,935 | +€2,546 | +655.0% |
| Taxes | 450/3 | €389 | €2,935 | +€2,546 | +655.0% |
| Other amounts payable | 47/48 | €20,115 | €4,115 | -€16,000 | -79.5% |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | €6,298 | €7,282 | +€983 | +15.6% |
| Operating profit (loss) | 9901 | €6,180 | €7,162 | +€981 | +15.9% |
| Financial income | 75/76B | €6,867 | €1,261 | -€5,606 | -81.6% |
| Recurring financial income | 75 | €6,867 | €1,261 | -€5,606 | -81.6% |
| Financial charges | 65/66B | €1,583 | €1,220 | -€363 | -22.9% |
| Recurring financial charges | 65 | €1,583 | €1,220 | -€363 | -22.9% |
| Profit (loss) for the period before taxes | 9903 | €11,465 | €7,203 | -€4,262 | -37.2% |
| Income taxes | 67/77 | €934 | €2,400 | +€1,467 | +157.1% |
| Profit (loss) for the period | 9904 | €10,531 | €4,802 | -€5,729 | -54.4% |
| Profit (loss) for the period to be appropriated | 9905 | €10,531 | €4,802 | -€5,729 | -54.4% |
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 4 October 2026 via checked.be.