Borgerstein: what changed
What changed
Borgerstein
NACE 88.993, Social work activities without accommodation
filed annual accounts (NBB)
Net result for the year
€539,219
2024 · €686,170-€146,951
Equity
€38.5m
2024 · €38.2m+€301,502
Cash
€4.6m
2024 · €3.1m+€1.5m
Balance sheet total
€66.9m
2024 · €68.1m-€1.2m
Largest movements
Assets
- Tangible fixed assets -€2.8m
down €2.8m (-5.5%), from €49.9m to €47.2m
of which Land and buildings: -€2.5m
- Cash +€1.5m
up €1.5m (+48.4%), from €3.1m to €4.6m
mainly Depreciation (+€3.0m) and Net result for the year (+€539,219)
Equity and liabilities
- Reserves +€16.9m
up €16.9m (+2,073%), from €814,815 to €17.7m
- Profit (loss) carried forward -€16.4m
down €16.4m (-54.9%), from €29.8m to €13.5m
- Debts after one year -€1.6m
down €1.6m (-7.4%), from €20.9m to €19.4m
Income statement
- Staff costs +€1.6m
up €1.6m (+4.9%), from €32.8m to €34.4m
- Financial charges +€263,252
up €263,252 (+399%), from €66,055 to €329,308
- Services and other goods +€216,865
up €216,865 (+5.1%), from €4.2m to €4.4m
- Turnover +€183,697
up €183,697 (+1.3%), from €14.5m to €14.7m
- Other operating income -€162,925
down €162,925 (-16.8%), from €971,844 to €808,919
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€686,170
Turnover
+€183,697
Other operating income
-€162,925
Goods and materials
+€5,499
Services and other goods
-€216,865
Staff costs
-€1.6m
Depreciation
-€30,314
Write-downs
-€45,516
Other operating charges
-€119,664
Other operating items
+€2.1m
Financial income
+€25,204
Financial charges
-€263,252
Result 2025
€539,219
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€4.0m
Investment
-€773,409
Financing
-€1.8m
Cash 2024
€3.1m
From operations (derived)
+€4.0m
Net result for the year
+€539,219
Depreciation
+€3.0m
Receivables after one year
+€364,066
Stocks and contracts
-€30,894
Receivables within one year
+€163,362
Deferred charges and accrued income
-€36,017
Provisions
-€22,000
Debts within one year
+€25,831
Accrued charges and deferred income
+€11,184
Investment (derived)
-€773,409
Investment in fixed assets (net)
-€269,455
Current investments
-€503,954
Financing
-€1.8m
Debts after one year
-€1.6m
Contributions, distributions and other
-€237,716
Cash 2025
€4.6m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €68,114,261 | €66,878,441 | -€1.2m | -1.8% |
| Fixed assets | 21/28 | €50,028,690 | €47,263,431 | -€2.8m | -5.5% |
| Tangible fixed assets | 22/27 | €49,927,587 | €47,162,075 | -€2.8m | -5.5% |
| Land and buildings | 22 | €47,987,859 | €45,515,480 | -€2.5m | -5.2% |
| Plant, machinery and equipment | 23 | €1,136,338 | €982,658 | -€153,680 | -13.5% |
| Furniture and vehicles | 24 | €803,390 | €663,936 | -€139,454 | -17.4% |
| Financial fixed assets | 28 | €101,103 | €101,356 | +€253 | +0.3% |
| Other financial fixed assets | 284/8 | €101,103 | €101,356 | +€253 | +0.3% |
| Amounts receivable and cash guarantees | 285/8 | €101,103 | €101,356 | +€253 | +0.3% |
| Current assets | 29/58 | €18,085,571 | €19,615,010 | +€1.5m | +8.5% |
| Amounts receivable after more than one year | 29 | €1,633,502 | €1,269,435 | -€364,066 | -22.3% |
| Other amounts receivable | 291 | €1,633,502 | €1,269,435 | -€364,066 | -22.3% |
| Stocks and contracts in progress | 3 | €115,048 | €145,942 | +€30,894 | +26.9% |
| Stocks | 30/36 | €115,048 | €145,942 | +€30,894 | +26.9% |
| Raw materials and consumables | 30/31 | €115,048 | €145,942 | +€30,894 | +26.9% |
| Amounts receivable within one year | 40/41 | €3,100,886 | €2,937,523 | -€163,362 | -5.3% |
| Trade receivables | 40 | €1,188,223 | €1,721,528 | +€533,305 | +44.9% |
| Other amounts receivable | 41 | €1,912,663 | €1,215,995 | -€696,668 | -36.4% |
| Current investments | 50/53 | €9,740,783 | €10,244,736 | +€503,954 | +5.2% |
| Cash at bank and in hand | 54/58 | €3,069,456 | €4,555,461 | +€1.5m | +48.4% |
| Deferred charges and accrued income | 490/1 | €425,896 | €461,913 | +€36,017 | +8.5% |
| Total equity and liabilities | 10/49 | €68,114,261 | €66,878,441 | -€1.2m | -1.8% |
| Equity | 10/15 | €38,182,019 | €38,483,521 | +€301,502 | +0.8% |
| Contributions | 10/11 | €4,176,118 | €4,178,867 | +€2,750 | +0.1% |
| Capital | 10 | €4,176,118 | €4,178,867 | +€2,750 | +0.1% |
| Reserves | 13 | €814,815 | €17,709,426 | +€16.9m | +2,073% |
| Profit (loss) carried forward | 14 | €29,812,567 | €13,457,174 | -€16.4m | -54.9% |
| Investment grants | 15 | €3,378,520 | €3,138,053 | -€240,466 | -7.1% |
| Provisions and deferred taxes | 16 | €80,000 | €58,000 | -€22,000 | -27.5% |
| Provisions for liabilities and charges | 160/5 | €80,000 | €58,000 | -€22,000 | -27.5% |
| Pensions and similar obligations | 160 | €80,000 | €46,000 | -€34,000 | -42.5% |
| Other liabilities and charges | 164/5 | - | €12,000 | +€12,000 | |
| Amounts payable | 17/49 | €29,852,242 | €28,336,920 | -€1.5m | -5.1% |
| Amounts payable after more than one year | 17 | €20,920,077 | €19,367,740 | -€1.6m | -7.4% |
| Financial debts | 170/4 | €20,920,077 | €19,367,740 | -€1.6m | -7.4% |
| Credit institutions | 173 | €20,920,077 | €19,367,740 | -€1.6m | -7.4% |
| Amounts payable within one year | 42/48 | €8,783,654 | €8,809,485 | +€25,831 | +0.3% |
| Current portion of amounts payable after more than one year | 42 | €2,521,475 | €1,552,337 | -€969,137 | -38.4% |
| Trade debts | 44 | €899,389 | €850,120 | -€49,269 | -5.5% |
| Suppliers | 440/4 | €899,389 | €850,120 | -€49,269 | -5.5% |
| Taxes, remuneration and social security | 45 | €5,032,212 | €5,615,025 | +€582,813 | +11.6% |
| Taxes | 450/3 | €900,795 | €943,271 | +€42,476 | +4.7% |
| Remuneration and social security | 454/9 | €4,131,417 | €4,671,754 | +€540,337 | +13.1% |
| Accrued charges and deferred income | 492/3 | €148,511 | €159,695 | +€11,184 | +7.5% |
| Operating income | 70/76A | €42,782,775 | €44,577,616 | +€1.8m | +4.2% |
| Turnover | 70 | €14,520,891 | €14,704,588 | +€183,697 | +1.3% |
| Membership fees, donations, legacies and grants | 73 | €27,268,437 | €28,748,216 | +€1.5m | +5.4% |
| Other operating income | 74 | €971,844 | €808,919 | -€162,925 | -16.8% |
| Non-recurring operating income | 76A | €21,602 | €315,893 | +€294,291 | +1,362% |
| Operating charges | 60/66A | €42,154,792 | €43,858,536 | +€1.7m | +4.0% |
| Goods for resale, raw materials and consumables | 60 | €1,268,673 | €1,263,173 | -€5,499 | -0.4% |
| Purchases | 600/8 | €1,279,248 | €1,294,067 | +€14,819 | +1.2% |
| Change in stocks: decrease (increase) | 609 | -€10,576 | -€30,894 | -€20,318 | -192% |
| Services and other goods | 61 | €4,211,698 | €4,428,562 | +€216,865 | +5.1% |
| Remuneration, social security and pensions | 62 | €32,813,522 | €34,420,746 | +€1.6m | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,004,401 | €3,034,715 | +€30,314 | +1.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€38,277 | €7,239 | +€45,516 | |
| Other operating charges | 640/8 | €606,438 | €726,101 | +€119,664 | +19.7% |
| Non-recurring operating charges | 66A | €208,338 | - | -€208,338 | |
| Operating profit (loss) | 9901 | €627,983 | €719,080 | +€91,097 | +14.5% |
| Financial income | 75/76B | €124,242 | €149,447 | +€25,204 | +20.3% |
| Recurring financial income | 75 | €124,242 | €149,447 | +€25,204 | +20.3% |
| Income from current assets | 751 | €13,435 | €17,052 | +€3,617 | +26.9% |
| Other financial income | 752/9 | €110,808 | €132,395 | +€21,587 | +19.5% |
| Financial charges | 65/66B | €66,055 | €329,308 | +€263,252 | +399% |
| Recurring financial charges | 65 | €66,055 | €329,308 | +€263,252 | +399% |
| Debt charges | 650 | €389,645 | €322,205 | -€67,440 | -17.3% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | -€328,718 | - | +€328,718 | |
| Other financial charges | 652/9 | €5,128 | €7,102 | +€1,974 | +38.5% |
| Profit (loss) for the period before taxes | 9903 | €686,170 | €539,219 | -€146,951 | -21.4% |
| Profit (loss) for the period | 9904 | €686,170 | €539,219 | -€146,951 | -21.4% |
| Profit (loss) for the period to be appropriated | 9905 | €686,170 | €539,219 | -€146,951 | -21.4% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.