BORGHANS: 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.
BORGHANS
Largest movements
- Cash -€38,264
down €38,264 (-38.6%), from €99,195 to €60,931
mainly Receivables within one year (-€25,606) and Net result for the year (-€12,658)
- Receivables within one year +€25,606
up €25,606 (+212.3%), from €12,061 to €37,667
- Profit (loss) carried forward -€12,658
down €12,658 (-60.4%), from €20,940 to €8,282
- Gross operating margin -€1,565
down €1,565 (-15.4%), from -€10,153 to -€11,718
- Taxes +€891
no longer reported in 2025 (was -€891)
- Other operating charges -€741
down €741 (-45.2%), from €1,641 to €900
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 | €111,256 | €98,598 | -€12,658 | -11.4% |
| Current assets | 29/58 | €111,256 | €98,598 | -€12,658 | -11.4% |
| Amounts receivable within one year | 40/41 | €12,061 | €37,667 | +€25,606 | +212.3% |
| Other amounts receivable | 41 | €12,061 | €37,667 | +€25,606 | +212.3% |
| Cash at bank and in hand | 54/58 | €99,195 | €60,931 | -€38,264 | -38.6% |
| Total equity and liabilities | 10/49 | €111,256 | €98,598 | -€12,658 | -11.4% |
| Equity | 10/15 | €111,256 | €98,598 | -€12,658 | -11.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €71,724 | €71,724 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,224 | €4,224 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,224 | €4,224 | = | 0.0% |
| Distributable reserves | 133 | €67,500 | €67,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,940 | €8,282 | -€12,658 | -60.4% |
| Other operating charges | 640/8 | €1,641 | €900 | -€741 | -45.2% |
| Gross operating margin | 9900 | -€10,153 | -€11,718 | -€1,565 | -15.4% |
| Operating profit (loss) | 9901 | -€11,794 | -€12,618 | -€824 | -7.0% |
| Financial charges | 65/66B | €39 | €40 | +€1 | +2.6% |
| Recurring financial charges | 65 | €39 | €40 | +€1 | +2.6% |
| Profit (loss) for the period before taxes | 9903 | -€11,833 | -€12,658 | -€825 | -7.0% |
| Income taxes | 67/77 | -€891 | - | +€891 | |
| Profit (loss) for the period | 9904 | -€10,942 | -€12,658 | -€1,716 | -15.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,942 | -€12,658 | -€1,716 | -15.7% |
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 29 September 2026 via checked.be.