BORIT: 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.
What changed
BORIT
NACE 25.530, Machining of metals
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€3.9m
2024 · -€4.0m+€93,400
Equity
€20.0m
2024 · €13.9m+€6.1m
Cash
€3.0m
2024 · €901,791+€2.1m
Balance sheet total
€25.6m
2024 · €29.4m-€3.8m
Largest movements
Assets
- Cash +€2.1m
up €2.1m (+235.1%), from €901,791 to €3.0m
mainly Contributions, distributions and other (+€10.0m) and Depreciation (+€2.7m)
- Tangible fixed assets -€1.9m
down €1.9m (-14.4%), from €13.2m to €11.3m
of which Assets under construction and advance payments: -€5.8m
- Financial fixed assets -€1.4m
down €1.4m (-16.0%), from €8.6m to €7.2m
of which Companies linked by participating interests: -€1.4m
- Receivables after one year -€1.2m
down €1.2m (-100.0%), from €1.2m to €0
- Receivables within one year -€1.0m
down €1.0m (-38.3%), from €2.6m to €1.6m
of which Trade receivables: -€885,342
Equity and liabilities
- Contributions +€10.0m
up €10.0m (+58.7%), from €17.0m to €27.0m
of which Capital: +€10.0m
- Short-term financial debts -€5.9m
down €5.9m (-100.0%), from €5.9m to €0
- Profit (loss) carried forward -€3.9m
down €3.9m (-123.9%), from -€3.2m to -€7.1m
- Accrued charges and deferred income -€2.6m
down €2.6m (-35.7%), from €7.2m to €4.6m
- Trade debts -€656,466
down €656,466 (-66.5%), from €986,786 to €330,320
Income statement
- Turnover -€1.6m
down €1.6m (-31.8%), from €4.9m to €3.3m
- Financial charges -€1.3m
down €1.3m (-46.6%), from €2.9m to €1.5m
of which Non-recurring financial charges: -€1.3m
- Depreciation +€951,478
up €951,478 (+54.2%), from €1.8m to €2.7m
- Services and other goods -€905,931
down €905,931 (-31.0%), from €2.9m to €2.0m
- Staff costs -€587,656
down €587,656 (-24.6%), from €2.4m to €1.8m
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.
Result 2024
-€4.0m
Turnover
-€1.6m
Other operating income
+€11,092
Goods and materials
+€512,621
Services and other goods
+€905,931
Staff costs
+€587,656
Depreciation
-€951,478
Write-downs
-€51,463
Provisions
-€15,625
Other operating charges
+€166,147
Other operating items
-€855,700
Financial income
-€515
Financial charges
+€1.3m
Taxes
+€11,467
Result 2025
-€3.9m
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.
From operations
-€2.1m
Investment
+€442,683
Financing
+€3.8m
Cash 2024
€901,791
From operations (derived)
-€2.1m
Net result for the year
-€3.9m
Depreciation
+€2.7m
Receivables after one year
+€1.2m
Stocks and contracts
+€535,144
Receivables within one year
+€1.0m
Deferred charges and accrued income
+€46,874
Smaller working-capital items
+€15,605
Trade debts
-€656,466
Tax, wage and social debts
-€193,801
Advances received
-€267,290
Accrued charges and deferred income
-€2.6m
Investment (derived)
+€442,683
Investment in fixed assets (net)
+€442,683
Financing
+€3.8m
Debts after one year
-€225,339
Current portion of long-term debt
-€122,632
Short-term financial debts
-€5.9m
Contributions, distributions and other
+€10.0m
Cash 2025
€3.0m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €29,427,457 | €25,609,838 | -€3.8m | -13.0% |
| Fixed assets | 21/28 | €22,789,331 | €19,638,129 | -€3.2m | -13.8% |
| Intangible fixed assets | 21 | €927,087 | €1,061,490 | +€134,403 | +14.5% |
| Tangible fixed assets | 22/27 | €13,235,265 | €11,329,403 | -€1.9m | -14.4% |
| Plant, machinery and equipment | 23 | €5,841,532 | €9,861,931 | +€4.0m | +68.8% |
| Furniture and vehicles | 24 | €121,455 | €86,720 | -€34,735 | -28.6% |
| Leasing and similar rights | 25 | €716,462 | €357,327 | -€359,135 | -50.1% |
| Other tangible fixed assets | 26 | €725,471 | €1,013,425 | +€287,954 | +39.7% |
| Assets under construction and advance payments | 27 | €5,830,345 | €10,000 | -€5.8m | -99.8% |
| Financial fixed assets | 28 | €8,626,978 | €7,247,236 | -€1.4m | -16.0% |
| Affiliated companies | 280/1 | €0 | - | = | |
| Participating interests | 280 | €0 | - | = | |
| Companies linked by participating interests | 282/3 | €8,596,701 | €7,181,273 | -€1.4m | -16.5% |
| Participating interests | 282 | €8,596,701 | €7,181,273 | -€1.4m | -16.5% |
| Other financial fixed assets | 284/8 | €30,277 | €65,963 | +€35,686 | +117.9% |
| Shares | 284 | €0 | - | = | |
| Amounts receivable and cash guarantees | 285/8 | €30,277 | €65,963 | +€35,686 | +117.9% |
| Current assets | 29/58 | €6,638,126 | €5,971,709 | -€666,417 | -10.0% |
| Amounts receivable after more than one year | 29 | €1,200,000 | €0 | -€1.2m | -100.0% |
| Other amounts receivable | 291 | €1,200,000 | €0 | -€1.2m | -100.0% |
| Stocks and contracts in progress | 3 | €1,662,338 | €1,127,194 | -€535,144 | -32.2% |
| Stocks | 30/36 | €1,063,460 | €921,543 | -€141,917 | -13.3% |
| Raw materials and consumables | 30/31 | €910,226 | €701,077 | -€209,149 | -23.0% |
| Finished goods | 33 | €153,234 | €220,465 | +€67,232 | +43.9% |
| Contracts in progress | 37 | €598,879 | €205,652 | -€393,227 | -65.7% |
| Amounts receivable within one year | 40/41 | €2,625,218 | €1,620,647 | -€1.0m | -38.3% |
| Trade receivables | 40 | €2,432,061 | €1,546,720 | -€885,342 | -36.4% |
| Other amounts receivable | 41 | €193,157 | €73,927 | -€119,230 | -61.7% |
| Cash at bank and in hand | 54/58 | €901,791 | €3,021,963 | +€2.1m | +235.1% |
| Deferred charges and accrued income | 490/1 | €248,779 | €201,905 | -€46,874 | -18.8% |
| Total equity and liabilities | 10/49 | €29,427,457 | €25,609,838 | -€3.8m | -13.0% |
| Equity | 10/15 | €13,904,331 | €19,987,607 | +€6.1m | +43.8% |
| Contributions | 10/11 | €17,021,435 | €27,021,435 | +€10.0m | +58.7% |
| Capital | 10 | €11,832,143 | €21,832,143 | +€10.0m | +84.5% |
| Issued capital | 100 | €11,832,143 | €21,832,143 | +€10.0m | +84.5% |
| Outside capital | 11 | €5,189,291 | €5,189,291 | = | 0.0% |
| Share premium | 1100/10 | €5,189,291 | €5,189,291 | = | 0.0% |
| Reserves | 13 | €44,651 | €44,651 | = | 0.0% |
| Non-distributable reserves | 130/1 | €44,651 | €44,651 | = | 0.0% |
| Legal reserve | 130 | €44,651 | €44,651 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,161,754 | -€7,078,478 | -€3.9m | -123.9% |
| Provisions and deferred taxes | 16 | - | €15,625 | +€15,625 | |
| Provisions for liabilities and charges | 160/5 | - | €15,625 | +€15,625 | |
| Other liabilities and charges | 164/5 | - | €15,625 | +€15,625 | |
| Amounts payable | 17/49 | €15,523,125 | €5,606,606 | -€9.9m | -63.9% |
| Amounts payable after more than one year | 17 | €359,370 | €134,031 | -€225,339 | -62.7% |
| Financial debts | 170/4 | €359,370 | €134,031 | -€225,339 | -62.7% |
| Leasing and similar obligations | 172 | €359,370 | €134,031 | -€225,339 | -62.7% |
| Amounts payable within one year | 42/48 | €7,959,781 | €839,571 | -€7.1m | -89.5% |
| Current portion of amounts payable after more than one year | 42 | €347,971 | €225,339 | -€122,632 | -35.2% |
| Financial debts | 43 | €5,880,000 | €0 | -€5.9m | -100.0% |
| Other loans | 439 | €5,880,000 | €0 | -€5.9m | -100.0% |
| Trade debts | 44 | €986,786 | €330,320 | -€656,466 | -66.5% |
| Suppliers | 440/4 | €986,786 | €330,320 | -€656,466 | -66.5% |
| Advances received on contracts in progress | 46 | €361,425 | €94,135 | -€267,290 | -74.0% |
| Taxes, remuneration and social security | 45 | €383,243 | €189,442 | -€193,801 | -50.6% |
| Taxes | 450/3 | €41,053 | €11,206 | -€29,846 | -72.7% |
| Remuneration and social security | 454/9 | €342,191 | €178,236 | -€163,955 | -47.9% |
| Other amounts payable | 47/48 | €355 | €335 | -€20 | -5.6% |
| Accrued charges and deferred income | 492/3 | €7,203,974 | €4,633,003 | -€2.6m | -35.7% |
| Operating income | 70/76A | €7,811,457 | €5,507,938 | -€2.3m | -29.5% |
| Turnover | 70 | €4,911,129 | €3,349,500 | -€1.6m | -31.8% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €426,838 | -€325,996 | -€752,834 | |
| Other operating income | 74 | €2,473,339 | €2,484,431 | +€11,092 | +0.4% |
| Non-recurring operating income | 76A | €151 | €2 | -€149 | -98.7% |
| Operating charges | 60/66A | €8,958,434 | €7,907,362 | -€1.1m | -11.7% |
| Goods for resale, raw materials and consumables | 60 | €1,423,371 | €910,751 | -€512,621 | -36.0% |
| Purchases | 600/8 | €1,360,937 | €753,066 | -€607,871 | -44.7% |
| Change in stocks: decrease (increase) | 609 | €62,434 | €157,685 | +€95,250 | +152.6% |
| Services and other goods | 61 | €2,919,350 | €2,013,419 | -€905,931 | -31.0% |
| Remuneration, social security and pensions | 62 | €2,391,245 | €1,803,589 | -€587,656 | -24.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,757,041 | €2,708,519 | +€951,478 | +54.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €51,463 | +€51,463 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €15,625 | +€15,625 | |
| Other operating charges | 640/8 | €448,414 | €282,267 | -€166,147 | -37.1% |
| Non-recurring operating charges | 66A | €19,012 | €121,728 | +€102,717 | +540.3% |
| Operating profit (loss) | 9901 | -€1,146,976 | -€2,399,424 | -€1.3m | -109.2% |
| Financial income | 75/76B | €791 | €276 | -€515 | -65.1% |
| Recurring financial income | 75 | €791 | €276 | -€515 | -65.1% |
| Income from current assets | 751 | €75 | €0 | -€75 | -100.0% |
| Other financial income | 752/9 | €717 | €276 | -€440 | -61.4% |
| Financial charges | 65/66B | €2,863,939 | €1,529,044 | -€1.3m | -46.6% |
| Recurring financial charges | 65 | €194,073 | €113,616 | -€80,457 | -41.5% |
| Debt charges | 650 | €182,134 | €99,487 | -€82,647 | -45.4% |
| Other financial charges | 652/9 | €11,939 | €14,129 | +€2,190 | +18.3% |
| Non-recurring financial charges | 66B | €2,669,866 | €1,415,428 | -€1.3m | -47.0% |
| Profit (loss) for the period before taxes | 9903 | -€4,010,124 | -€3,928,192 | +€81,932 | +2.0% |
| Income taxes | 67/77 | €0 | -€11,467 | -€11,467 | |
| Taxes | 670/3 | €0 | - | = | |
| Tax adjustments and reversals of tax provisions | 77 | €0 | €11,467 | +€11,467 | |
| Profit (loss) for the period | 9904 | -€4,010,124 | -€3,916,724 | +€93,400 | +2.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,010,124 | -€3,916,724 | +€93,400 | +2.3% |
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 3 October 2026 via checked.be.