Borgerhoff S: 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.
Borgerhoff S
Largest movements
- Cash -€30,334
down €30,334 (-39.6%), from €76,692 to €46,358
mainly Contributions, distributions and other (-€120,000) and Investment in fixed assets (net) (-€46,511)
- Tangible fixed assets +€21,519
up €21,519 (+14.5%), from €148,673 to €170,192
of which Other tangible fixed assets: +€40,945
- Receivables within one year +€4,690
up €4,690 (+17.5%), from €26,811 to €31,501
of which Trade receivables: +€9,468
- Profit (loss) carried forward -€33,267
down €33,267 (-18.0%), from €184,819 to €151,552
- Tax, wage and social debts +€17,559
up €17,559 (+549.2%), from €3,197 to €20,757
- Trade debts +€13,096
up €13,096 (+79.1%), from €16,562 to €29,658
- Other debts -€3,822
down €3,822 (-6.9%), from €55,662 to €51,840
- Gross operating margin +€37,245
up €37,245 (+37.9%), from €98,202 to €135,447
- Depreciation +€10,338
up €10,338 (+70.5%), from €14,654 to €24,992
- Financial income -€4,643
down €4,643 (-91.2%), from €5,091 to €448
- Other operating charges -€4,564
down €4,564 (-68.5%), from €6,660 to €2,096
- Taxes +€3,673
up €3,673 (+20.1%), from €18,316 to €21,989
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 | €262,740 | €256,307 | -€6,433 | -2.4% |
| Fixed assets | 21/28 | €148,673 | €170,192 | +€21,519 | +14.5% |
| Tangible fixed assets | 22/27 | €148,673 | €170,192 | +€21,519 | +14.5% |
| Plant, machinery and equipment | 23 | €1,719 | €1,227 | -€492 | -28.6% |
| Furniture and vehicles | 24 | €95,347 | €76,413 | -€18,934 | -19.9% |
| Other tangible fixed assets | 26 | €51,606 | €92,552 | +€40,945 | +79.3% |
| Current assets | 29/58 | €114,067 | €86,114 | -€27,952 | -24.5% |
| Amounts receivable within one year | 40/41 | €26,811 | €31,501 | +€4,690 | +17.5% |
| Trade receivables | 40 | €19,385 | €28,854 | +€9,468 | +48.8% |
| Other amounts receivable | 41 | €7,426 | €2,647 | -€4,779 | -64.4% |
| Cash at bank and in hand | 54/58 | €76,692 | €46,358 | -€30,334 | -39.6% |
| Deferred charges and accrued income | 490/1 | €10,564 | €8,256 | -€2,308 | -21.8% |
| Total equity and liabilities | 10/49 | €262,740 | €256,307 | -€6,433 | -2.4% |
| Equity | 10/15 | €187,319 | €154,052 | -€33,267 | -17.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €184,819 | €151,552 | -€33,267 | -18.0% |
| Amounts payable | 17/49 | €75,421 | €102,254 | +€26,833 | +35.6% |
| Amounts payable within one year | 42/48 | €75,421 | €102,254 | +€26,833 | +35.6% |
| Trade debts | 44 | €16,562 | €29,658 | +€13,096 | +79.1% |
| Suppliers | 440/4 | €16,562 | €29,658 | +€13,096 | +79.1% |
| Taxes, remuneration and social security | 45 | €3,197 | €20,757 | +€17,559 | +549.2% |
| Taxes | 450/3 | €3,197 | €20,757 | +€17,559 | +549.2% |
| Other amounts payable | 47/48 | €55,662 | €51,840 | -€3,822 | -6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,654 | €24,992 | +€10,338 | +70.5% |
| Other operating charges | 640/8 | €6,660 | €2,096 | -€4,564 | -68.5% |
| Non-recurring operating charges | 66A | €8,570 | €0 | -€8,570 | -100.0% |
| Gross operating margin | 9900 | €98,202 | €135,447 | +€37,245 | +37.9% |
| Operating profit (loss) | 9901 | €68,319 | €108,359 | +€40,041 | +58.6% |
| Financial income | 75/76B | €5,091 | €448 | -€4,643 | -91.2% |
| Recurring financial income | 75 | €5,091 | €448 | -€4,643 | -91.2% |
| Financial charges | 65/66B | €590 | €85 | -€504 | -85.5% |
| Recurring financial charges | 65 | €590 | €85 | -€504 | -85.5% |
| Profit (loss) for the period before taxes | 9903 | €72,820 | €108,722 | +€35,902 | +49.3% |
| Income taxes | 67/77 | €18,316 | €21,989 | +€3,673 | +20.1% |
| Profit (loss) for the period | 9904 | €54,504 | €86,733 | +€32,230 | +59.1% |
| Profit (loss) for the period to be appropriated | 9905 | €54,504 | €86,733 | +€32,230 | +59.1% |
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 10 October 2026 via checked.be.