BorgInsole: 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.
BorgInsole
Largest movements
- Tangible fixed assets +€1.2m
up €1.2m (+32.1%), from €3.7m to €4.9m
of which Plant, machinery and equipment: +€1.4m
- Receivables within one year +€228,114
up €228,114 (+50.3%), from €453,381 to €681,495
of which Other amounts receivable: +€144,948
- Cash -€153,965
down €153,965 (-15.7%), from €980,587 to €826,622
mainly Investment in fixed assets (net) (-€2.1m) and Contributions, distributions and other (-€299,611)
- Intangible fixed assets +€121,719
up €121,719 (+202.1%), from €60,229 to €181,949
- Debts after one year +€1.0m
up €1.0m (+57.2%), from €1.8m to €2.8m
- Reserves +€161,524
up €161,524 (+4.9%), from €3.3m to €3.4m
- Current portion of long-term debt +€160,386
up €160,386 (+59.9%), from €267,687 to €428,073
- Tax, wage and social debts +€83,621
up €83,621 (+39.9%), from €209,439 to €293,061
of which Remuneration and social security: +€111,783
- Gross operating margin +€259,964
up €259,964 (+11.1%), from €2.3m to €2.6m
- Staff costs +€249,904
up €249,904 (+23.7%), from €1.1m to €1.3m
- Depreciation +€201,526
up €201,526 (+38.0%), from €529,998 to €731,523
- Financial charges +€54,469
up €54,469 (+152.0%), from €35,831 to €90,301
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 | €6,008,267 | €7,388,513 | +€1.4m | +23.0% |
| Fixed assets | 21/28 | €3,798,732 | €5,120,793 | +€1.3m | +34.8% |
| Intangible fixed assets | 21 | €60,229 | €181,949 | +€121,719 | +202.1% |
| Tangible fixed assets | 22/27 | €3,738,503 | €4,938,844 | +€1.2m | +32.1% |
| Land and buildings | 22 | €1,546,697 | €1,444,841 | -€101,856 | -6.6% |
| Plant, machinery and equipment | 23 | €1,873,388 | €3,250,862 | +€1.4m | +73.5% |
| Furniture and vehicles | 24 | €318,418 | €243,141 | -€75,276 | -23.6% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €2,209,535 | €2,267,720 | +€58,184 | +2.6% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €683,129 | €647,976 | -€35,153 | -5.1% |
| Stocks | 30/36 | €683,129 | €647,976 | -€35,153 | -5.1% |
| Amounts receivable within one year | 40/41 | €453,381 | €681,495 | +€228,114 | +50.3% |
| Trade receivables | 40 | €362,926 | €446,092 | +€83,166 | +22.9% |
| Other amounts receivable | 41 | €90,455 | €235,403 | +€144,948 | +160.2% |
| Cash at bank and in hand | 54/58 | €980,587 | €826,622 | -€153,965 | -15.7% |
| Deferred charges and accrued income | 490/1 | €92,438 | €111,626 | +€19,188 | +20.8% |
| Total equity and liabilities | 10/49 | €6,008,267 | €7,388,513 | +€1.4m | +23.0% |
| Equity | 10/15 | €3,651,801 | €3,766,620 | +€114,819 | +3.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €3,264,478 | €3,426,002 | +€161,524 | +4.9% |
| Distributable reserves | 133 | €3,264,478 | €3,426,002 | +€161,524 | +4.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Investment grants | 15 | €368,723 | €322,018 | -€46,705 | -12.7% |
| Amounts payable | 17/49 | €2,356,467 | €3,621,893 | +€1.3m | +53.7% |
| Amounts payable after more than one year | 17 | €1,768,942 | €2,780,773 | +€1.0m | +57.2% |
| Financial debts | 170/4 | €1,768,942 | €2,780,773 | +€1.0m | +57.2% |
| Amounts payable within one year | 42/48 | €574,195 | €841,120 | +€266,925 | +46.5% |
| Current portion of amounts payable after more than one year | 42 | €267,687 | €428,073 | +€160,386 | +59.9% |
| Trade debts | 44 | €96,187 | €113,676 | +€17,489 | +18.2% |
| Suppliers | 440/4 | €96,187 | €113,676 | +€17,489 | +18.2% |
| Taxes, remuneration and social security | 45 | €209,439 | €293,061 | +€83,621 | +39.9% |
| Taxes | 450/3 | €127,070 | €98,908 | -€28,162 | -22.2% |
| Remuneration and social security | 454/9 | €82,369 | €194,152 | +€111,783 | +135.7% |
| Other amounts payable | 47/48 | €882 | €6,310 | +€5,428 | +615.6% |
| Accrued charges and deferred income | 492/3 | €13,330 | €0 | -€13,330 | -100.0% |
| Remuneration, social security and pensions | 62 | €1,052,682 | €1,302,586 | +€249,904 | +23.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €529,998 | €731,523 | +€201,526 | +38.0% |
| Other operating charges | 640/8 | €77,852 | €79,850 | +€1,997 | +2.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €2,348,513 | €2,608,478 | +€259,964 | +11.1% |
| Operating profit (loss) | 9901 | €687,982 | €494,519 | -€193,463 | -28.1% |
| Financial income | 75/76B | €49,781 | €53,689 | +€3,909 | +7.9% |
| Recurring financial income | 75 | €49,781 | €53,689 | +€3,909 | +7.9% |
| Financial charges | 65/66B | €35,831 | €90,301 | +€54,469 | +152.0% |
| Recurring financial charges | 65 | €35,831 | €90,301 | +€54,469 | +152.0% |
| Profit (loss) for the period before taxes | 9903 | €701,931 | €457,908 | -€244,023 | -34.8% |
| Income taxes | 67/77 | €64,227 | €43,477 | -€20,750 | -32.3% |
| Profit (loss) for the period | 9904 | €637,704 | €414,430 | -€223,273 | -35.0% |
| Profit (loss) for the period to be appropriated | 9905 | €637,704 | €414,430 | -€223,273 | -35.0% |
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 7 October 2026 via checked.be.