Borghs Consulting: 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.
Borghs Consulting
Largest movements
- Cash -€31,545
down €31,545 (-64.9%), from €48,617 to €17,073
mainly Contributions, distributions and other (-€69,883) and Investment in fixed assets (net) (-€28,196)
- Tangible fixed assets +€18,188
up €18,188 (+50.3%), from €36,172 to €54,360
of which Furniture and vehicles: +€21,677
- Receivables within one year +€1,636
up €1,636 (+5.5%), from €29,517 to €31,153
of which Trade receivables: +€2,184
- Deferred charges and accrued income +€1,186
up €1,186 (+954%), from €124 to €1,310
- Reserves -€11,850
down €11,850 (-34.3%), from €34,589 to €22,740
- Tax, wage and social debts +€1,610
up €1,610 (+14.1%), from €11,404 to €13,014
of which Taxes: +€1,728
- Gross operating margin -€4,032
down €4,032 (-4.6%), from €88,268 to €84,236
- Taxes -€1,379
down €1,379 (-8.5%), from €16,256 to €14,878
- Depreciation +€1,032
up €1,032 (+11.5%), from €8,976 to €10,008
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 | €114,431 | €103,896 | -€10,535 | -9.2% |
| Fixed assets | 21/28 | €36,172 | €54,360 | +€18,188 | +50.3% |
| Tangible fixed assets | 22/27 | €36,172 | €54,360 | +€18,188 | +50.3% |
| Plant, machinery and equipment | 23 | €8,463 | €7,244 | -€1,219 | -14.4% |
| Furniture and vehicles | 24 | €11,030 | €32,707 | +€21,677 | +197% |
| Other tangible fixed assets | 26 | €16,679 | €14,409 | -€2,270 | -13.6% |
| Current assets | 29/58 | €78,259 | €49,536 | -€28,723 | -36.7% |
| Amounts receivable within one year | 40/41 | €29,517 | €31,153 | +€1,636 | +5.5% |
| Trade receivables | 40 | €27,347 | €29,531 | +€2,184 | +8.0% |
| Other amounts receivable | 41 | €2,171 | €1,622 | -€548 | -25.3% |
| Cash at bank and in hand | 54/58 | €48,617 | €17,073 | -€31,545 | -64.9% |
| Deferred charges and accrued income | 490/1 | €124 | €1,310 | +€1,186 | +954% |
| Total equity and liabilities | 10/49 | €114,431 | €103,896 | -€10,535 | -9.2% |
| Equity | 10/15 | €36,589 | €24,740 | -€11,850 | -32.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €34,589 | €22,740 | -€11,850 | -34.3% |
| Distributable reserves | 133 | €34,589 | €22,740 | -€11,850 | -34.3% |
| Amounts payable | 17/49 | €77,841 | €79,156 | +€1,314 | +1.7% |
| Amounts payable within one year | 42/48 | €77,841 | €79,156 | +€1,314 | +1.7% |
| Trade debts | 44 | - | €15 | +€15 | |
| Suppliers | 440/4 | - | €15 | +€15 | |
| Taxes, remuneration and social security | 45 | €11,404 | €13,014 | +€1,610 | +14.1% |
| Taxes | 450/3 | €11,286 | €13,014 | +€1,728 | +15.3% |
| Remuneration and social security | 454/9 | €118 | - | -€118 | |
| Other amounts payable | 47/48 | €66,438 | €66,126 | -€311 | -0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,976 | €10,008 | +€1,032 | +11.5% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €88,268 | €84,236 | -€4,032 | -4.6% |
| Operating profit (loss) | 9901 | €78,905 | €73,828 | -€5,077 | -6.4% |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €1,330 | €917 | -€414 | -31.1% |
| Recurring financial charges | 65 | €1,330 | €917 | -€414 | -31.1% |
| Profit (loss) for the period before taxes | 9903 | €77,576 | €72,911 | -€4,664 | -6.0% |
| Income taxes | 67/77 | €16,256 | €14,878 | -€1,379 | -8.5% |
| Profit (loss) for the period | 9904 | €61,320 | €58,034 | -€3,286 | -5.4% |
| Profit (loss) for the period to be appropriated | 9905 | €61,320 | €58,034 | -€3,286 | -5.4% |
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 13 October 2026 via checked.be.