BORIES: 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.
BORIES
Largest movements
- Cash -€9,193
down €9,193 (-19.0%), from €48,380 to €39,188
mainly Contributions, distributions and other (-€18,000) and Investment in fixed assets (net) (-€5,453)
- Stocks and contracts -€4,501
down €4,501 (-35.7%), from €12,604 to €8,103
- Receivables within one year -€2,847
down €2,847 (-13.8%), from €20,671 to €17,823
of which Trade receivables: -€3,814
- Deferred charges and accrued income +€2,477
up €2,477 (+255%), from €971 to €3,448
- Tangible fixed assets +€1,009
up €1,009 (+8.3%), from €12,134 to €13,143
of which Plant, machinery and equipment: +€3,559
- Reserves -€6,232
down €6,232 (-9.5%), from €65,535 to €59,303
of which Distributable reserves: -€4,232
- Current portion of long-term debt -€4,871
no longer reported in 2025 (was €4,871)
- Other debts -€1,176
down €1,176 (-14.8%), from €7,932 to €6,756
- Gross operating margin +€2,291
up €2,291 (+11.6%), from €19,702 to €21,993
- Depreciation +€987
up €987 (+28.6%), from €3,457 to €4,444
- Financial charges -€306
down €306 (-27.4%), from €1,115 to €809
- Taxes +€302
up €302 (+7.4%), from €4,081 to €4,383
- Other operating charges +€223
up €223 (+43.5%), from €514 to €737
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 | €94,760 | €81,705 | -€13,055 | -13.8% |
| Fixed assets | 21/28 | €12,134 | €13,143 | +€1,009 | +8.3% |
| Tangible fixed assets | 22/27 | €12,134 | €13,143 | +€1,009 | +8.3% |
| Plant, machinery and equipment | 23 | €2,820 | €6,378 | +€3,559 | +126% |
| Furniture and vehicles | 24 | €9,315 | €6,765 | -€2,550 | -27.4% |
| Current assets | 29/58 | €82,626 | €68,562 | -€14,064 | -17.0% |
| Stocks and contracts in progress | 3 | €12,604 | €8,103 | -€4,501 | -35.7% |
| Stocks | 30/36 | €12,604 | €8,103 | -€4,501 | -35.7% |
| Amounts receivable within one year | 40/41 | €20,671 | €17,823 | -€2,847 | -13.8% |
| Trade receivables | 40 | €19,093 | €15,279 | -€3,814 | -20.0% |
| Other amounts receivable | 41 | €1,578 | €2,544 | +€967 | +61.3% |
| Cash at bank and in hand | 54/58 | €48,380 | €39,188 | -€9,193 | -19.0% |
| Deferred charges and accrued income | 490/1 | €971 | €3,448 | +€2,477 | +255% |
| Total equity and liabilities | 10/49 | €94,760 | €81,705 | -€13,055 | -13.8% |
| Equity | 10/15 | €75,535 | €69,303 | -€6,232 | -8.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €65,535 | €59,303 | -€6,232 | -9.5% |
| Non-distributable reserves | 130/1 | €2,000 | - | -€2,000 | |
| Reserves not available under the articles | 1311 | €2,000 | - | -€2,000 | |
| Distributable reserves | 133 | €63,535 | €59,303 | -€4,232 | -6.7% |
| Amounts payable | 17/49 | €19,226 | €12,402 | -€6,823 | -35.5% |
| Amounts payable within one year | 42/48 | €19,226 | €12,402 | -€6,823 | -35.5% |
| Current portion of amounts payable after more than one year | 42 | €4,871 | - | -€4,871 | |
| Trade debts | 44 | €4,008 | €3,777 | -€231 | -5.8% |
| Suppliers | 440/4 | €4,008 | €3,777 | -€231 | -5.8% |
| Taxes, remuneration and social security | 45 | €2,415 | €1,869 | -€546 | -22.6% |
| Taxes | 450/3 | €2,415 | €1,869 | -€546 | -22.6% |
| Other amounts payable | 47/48 | €7,932 | €6,756 | -€1,176 | -14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,457 | €4,444 | +€987 | +28.6% |
| Other operating charges | 640/8 | €514 | €737 | +€223 | +43.5% |
| Gross operating margin | 9900 | €19,702 | €21,993 | +€2,291 | +11.6% |
| Operating profit (loss) | 9901 | €15,732 | €16,812 | +€1,080 | +6.9% |
| Financial income | 75/76B | €331 | €148 | -€183 | -55.2% |
| Recurring financial income | 75 | €331 | €148 | -€183 | -55.2% |
| Financial charges | 65/66B | €1,115 | €809 | -€306 | -27.4% |
| Recurring financial charges | 65 | €1,115 | €809 | -€306 | -27.4% |
| Profit (loss) for the period before taxes | 9903 | €14,948 | €16,151 | +€1,204 | +8.1% |
| Income taxes | 67/77 | €4,081 | €4,383 | +€302 | +7.4% |
| Profit (loss) for the period | 9904 | €10,867 | €11,768 | +€902 | +8.3% |
| Profit (loss) for the period to be appropriated | 9905 | €10,867 | €11,768 | +€902 | +8.3% |
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 21 October 2026 via checked.be.