BORGOUMONT: 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.
BORGOUMONT
Largest movements
- Tangible fixed assets +€3.1m
up €3.1m (+117.9%), from €2.7m to €5.8m
of which Assets under construction and advance payments: +€1.6m
- Receivables within one year -€75,837
down €75,837 (-62.8%), from €120,839 to €45,002
of which Other amounts receivable: -€76,717
- Contributions +€5.0m
up €5.0m (+8106.1%), from €61,500 to €5.0m
- Other debts -€2.0m
down €2.0m (-73.3%), from €2.8m to €747,072
- Short-term financial debts +€800,000
new in 2025: €800,000
- Profit (loss) carried forward -€735,619
down €735,619 (-340.7%), from -€215,917 to -€951,536
- Depreciation +€51,861
up €51,861 (+1367.9%), from €3,791 to €55,652
- Staff costs +€35,700
new in 2025: €35,700
- Other operating charges +€26,640
up €26,640 (+67.5%), from €39,440 to €66,079
- Gross operating margin -€24,823
down €24,823 (-1771.2%), from -€1,402 to -€26,225
- Financial charges +€10,697
up €10,697 (+48.4%), from €22,110 to €32,807
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 | €2,857,443 | €5,929,808 | +€3.1m | +107.5% |
| Fixed assets | 21/28 | €2,703,060 | €5,880,906 | +€3.2m | +117.6% |
| Intangible fixed assets | 21 | €38,680 | €75,061 | +€36,381 | +94.1% |
| Tangible fixed assets | 22/27 | €2,664,379 | €5,805,845 | +€3.1m | +117.9% |
| Land and buildings | 22 | €606,000 | €2,104,222 | +€1.5m | +247.2% |
| Furniture and vehicles | 24 | - | €465 | +€465 | |
| Leasing and similar rights | 25 | - | €18,777 | +€18,777 | |
| Assets under construction and advance payments | 27 | €2,058,379 | €3,682,380 | +€1.6m | +78.9% |
| Current assets | 29/58 | €154,383 | €48,902 | -€105,482 | -68.3% |
| Amounts receivable within one year | 40/41 | €120,839 | €45,002 | -€75,837 | -62.8% |
| Trade receivables | 40 | €871 | €1,751 | +€880 | +101.1% |
| Other amounts receivable | 41 | €119,968 | €43,251 | -€76,717 | -63.9% |
| Cash at bank and in hand | 54/58 | €33,454 | €3,558 | -€29,896 | -89.4% |
| Deferred charges and accrued income | 490/1 | €90 | €342 | +€251 | +278.8% |
| Total equity and liabilities | 10/49 | €2,857,443 | €5,929,808 | +€3.1m | +107.5% |
| Equity | 10/15 | -€154,417 | €4,095,205 | +€4.2m | |
| Contributions | 10/11 | €61,500 | €5,046,741 | +€5.0m | +8106.1% |
| Capital | 10 | €61,500 | €5,046,741 | +€5.0m | +8106.1% |
| Issued capital | 100 | €61,500 | €5,046,741 | +€5.0m | +8106.1% |
| Profit (loss) carried forward | 14 | -€215,917 | -€951,536 | -€735,619 | -340.7% |
| Amounts payable | 17/49 | €3,011,860 | €1,834,602 | -€1.2m | -39.1% |
| Amounts payable after more than one year | 17 | - | €7,318 | +€7,318 | |
| Financial debts | 170/4 | - | €7,318 | +€7,318 | |
| Amounts payable within one year | 42/48 | €3,011,860 | €1,826,533 | -€1.2m | -39.4% |
| Current portion of amounts payable after more than one year | 42 | - | €8,388 | +€8,388 | |
| Financial debts | 43 | - | €800,000 | +€800,000 | |
| Credit institutions | 430/8 | - | €800,000 | +€800,000 | |
| Trade debts | 44 | €218,475 | €258,720 | +€40,245 | +18.4% |
| Suppliers | 440/4 | €218,475 | €258,720 | +€40,245 | +18.4% |
| Taxes, remuneration and social security | 45 | - | €12,353 | +€12,353 | |
| Taxes | 450/3 | - | €3,443 | +€3,443 | |
| Remuneration and social security | 454/9 | - | €8,910 | +€8,910 | |
| Other amounts payable | 47/48 | €2,793,385 | €747,072 | -€2.0m | -73.3% |
| Accrued charges and deferred income | 492/3 | - | €751 | +€751 | |
| Remuneration, social security and pensions | 62 | - | €35,700 | +€35,700 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,791 | €55,652 | +€51,861 | +1367.9% |
| Other operating charges | 640/8 | €39,440 | €66,079 | +€26,640 | +67.5% |
| Gross operating margin | 9900 | -€1,402 | -€26,225 | -€24,823 | -1771.2% |
| Operating profit (loss) | 9901 | -€44,632 | -€183,657 | -€139,024 | -311.5% |
| Financial income | 75/76B | €13,277 | €7,430 | -€5,847 | -44.0% |
| Recurring financial income | 75 | €13,277 | €7,430 | -€5,847 | -44.0% |
| Financial charges | 65/66B | €22,110 | €32,807 | +€10,697 | +48.4% |
| Recurring financial charges | 65 | €22,110 | €32,807 | +€10,697 | +48.4% |
| Profit (loss) for the period before taxes | 9903 | -€53,465 | -€209,033 | -€155,568 | -291.0% |
| Income taxes | 67/77 | - | €95 | +€95 | |
| Profit (loss) for the period | 9904 | -€53,465 | -€209,128 | -€155,663 | -291.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€53,465 | -€209,128 | -€155,663 | -291.1% |
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.