BORIDEX: 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.
BORIDEX
Largest movements
- Cash +€33,909
up €33,909 (+206.4%), from €16,429 to €50,338
mainly Net result for the year (+€61,754) and Depreciation (+€26,105)
- Tangible fixed assets -€26,105
down €26,105 (-46.8%), from €55,765 to €29,661
of which Plant, machinery and equipment: -€17,266
- Receivables within one year -€1,905
down €1,905 (-2.8%), from €68,045 to €66,140
of which Other amounts receivable: -€1,814
- Reserves +€30,000
up €30,000 (+62.5%), from €48,000 to €78,000
- Debts after one year -€19,920
down €19,920 (-58.2%), from €34,219 to €14,299
- Trade debts -€16,534
down €16,534 (-80.8%), from €20,460 to €3,926
- Other debts +€11,500
up €11,500 (+57.5%), from €20,000 to €31,500
- Gross operating margin +€25,525
up €25,525 (+34.6%), from €73,787 to €99,311
- Taxes -€3,490
down €3,490 (-30.9%), from €11,281 to €7,790
- Financial charges -€1,511
down €1,511 (-36.9%), from €4,092 to €2,581
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 | €144,140 | €149,959 | +€5,819 | +4.0% |
| Fixed assets | 21/28 | €55,885 | €29,781 | -€26,105 | -46.7% |
| Tangible fixed assets | 22/27 | €55,765 | €29,661 | -€26,105 | -46.8% |
| Plant, machinery and equipment | 23 | €30,622 | €13,356 | -€17,266 | -56.4% |
| Furniture and vehicles | 24 | €25,144 | €16,305 | -€8,839 | -35.2% |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €88,254 | €120,178 | +€31,924 | +36.2% |
| Stocks and contracts in progress | 3 | €3,780 | €3,700 | -€80 | -2.1% |
| Stocks | 30/36 | €3,780 | €3,700 | -€80 | -2.1% |
| Amounts receivable within one year | 40/41 | €68,045 | €66,140 | -€1,905 | -2.8% |
| Trade receivables | 40 | €47,991 | €47,900 | -€91 | -0.2% |
| Other amounts receivable | 41 | €20,054 | €18,240 | -€1,814 | -9.0% |
| Cash at bank and in hand | 54/58 | €16,429 | €50,338 | +€33,909 | +206.4% |
| Total equity and liabilities | 10/49 | €144,140 | €149,959 | +€5,819 | +4.0% |
| Equity | 10/15 | €50,060 | €80,314 | +€30,254 | +60.4% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €48,000 | €78,000 | +€30,000 | +62.5% |
| Distributable reserves | 133 | €48,000 | €78,000 | +€30,000 | +62.5% |
| Profit (loss) carried forward | 14 | €560 | €814 | +€254 | +45.4% |
| Amounts payable | 17/49 | €94,080 | €69,645 | -€24,435 | -26.0% |
| Amounts payable after more than one year | 17 | €34,219 | €14,299 | -€19,920 | -58.2% |
| Financial debts | 170/4 | €34,219 | €14,299 | -€19,920 | -58.2% |
| Amounts payable within one year | 42/48 | €59,861 | €55,346 | -€4,515 | -7.5% |
| Current portion of amounts payable after more than one year | 42 | €19,401 | €19,920 | +€518 | +2.7% |
| Trade debts | 44 | €20,460 | €3,926 | -€16,534 | -80.8% |
| Suppliers | 440/4 | €20,460 | €3,926 | -€16,534 | -80.8% |
| Other amounts payable | 47/48 | €20,000 | €31,500 | +€11,500 | +57.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,431 | €26,105 | +€673 | +2.6% |
| Other operating charges | 640/8 | €1,075 | €1,181 | +€106 | +9.8% |
| Gross operating margin | 9900 | €73,787 | €99,311 | +€25,525 | +34.6% |
| Operating profit (loss) | 9901 | €47,280 | €72,026 | +€24,745 | +52.3% |
| Financial income | 75/76B | - | €100 | +€100 | |
| Recurring financial income | 75 | - | €100 | +€100 | |
| Financial charges | 65/66B | €4,092 | €2,581 | -€1,511 | -36.9% |
| Recurring financial charges | 65 | €4,092 | €2,581 | -€1,511 | -36.9% |
| Profit (loss) for the period before taxes | 9903 | €43,189 | €69,544 | +€26,356 | +61.0% |
| Income taxes | 67/77 | €11,281 | €7,790 | -€3,490 | -30.9% |
| Profit (loss) for the period | 9904 | €31,908 | €61,754 | +€29,846 | +93.5% |
| Profit (loss) for the period to be appropriated | 9905 | €31,908 | €61,754 | +€29,846 | +93.5% |
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 9 October 2026 via checked.be.