BORLEC HOLDING: 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.
BORLEC HOLDING
Largest movements
- Cash +€878,239
up €878,239 (+116%), from €756,876 to €1.6m
mainly Current investments (+€851,098) and Accrued charges and deferred income (+€287,834)
- Current investments -€851,098
down €851,098 (-21.7%), from €3.9m to €3.1m
- Tangible fixed assets +€258,152
up €258,152 (+205%), from €126,077 to €384,229
of which Furniture and vehicles: +€260,014
- Receivables within one year +€173,198
up €173,198 (+3.7%), from €4.6m to €4.8m
of which Other amounts receivable: +€158,678
- Receivables after one year -€150,000
down €150,000 (-50.0%), from €300,000 to €150,000
- Accrued charges and deferred income +€287,834
up €287,834 (+5.3%), from €5.4m to €5.7m
- Financial income +€142,575
up €142,575 (+281%), from €50,803 to €193,378
- Taxes +€76,775
up €76,775 (+2,128%), from €3,608 to €80,383
- Gross operating margin +€57,341
up €57,341 (+14.8%), from €386,147 to €443,488
- Depreciation +€5,595
up €5,595 (+11.5%), from €48,564 to €54,159
- Other operating charges -€4,535
down €4,535 (-43.7%), from €10,371 to €5,836
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 | €14,542,744 | €14,850,652 | +€307,908 | +2.1% |
| Fixed assets | 21/28 | €4,941,544 | €5,199,696 | +€258,152 | +5.2% |
| Tangible fixed assets | 22/27 | €126,077 | €384,229 | +€258,152 | +205% |
| Plant, machinery and equipment | 23 | €1,862 | - | -€1,862 | |
| Furniture and vehicles | 24 | €124,215 | €384,229 | +€260,014 | +209% |
| Financial fixed assets | 28 | €4,815,467 | €4,815,467 | = | 0.0% |
| Current assets | 29/58 | €9,601,200 | €9,650,956 | +€49,756 | +0.5% |
| Amounts receivable after more than one year | 29 | €300,000 | €150,000 | -€150,000 | -50.0% |
| Other amounts receivable | 291 | €300,000 | €150,000 | -€150,000 | -50.0% |
| Amounts receivable within one year | 40/41 | €4,625,502 | €4,798,700 | +€173,198 | +3.7% |
| Trade receivables | 40 | €221,430 | €235,950 | +€14,520 | +6.6% |
| Other amounts receivable | 41 | €4,404,072 | €4,562,750 | +€158,678 | +3.6% |
| Current investments | 50/53 | €3,913,958 | €3,062,860 | -€851,098 | -21.7% |
| Cash at bank and in hand | 54/58 | €756,876 | €1,635,115 | +€878,239 | +116% |
| Deferred charges and accrued income | 490/1 | €4,864 | €4,281 | -€583 | -12.0% |
| Total equity and liabilities | 10/49 | €14,542,744 | €14,850,652 | +€307,908 | +2.1% |
| Equity | 10/15 | €4,680,255 | €4,814,924 | +€134,669 | +2.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €4,010,757 | €4,145,426 | +€134,669 | +3.4% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €4,004,557 | €4,139,226 | +€134,669 | +3.4% |
| Profit (loss) carried forward | 14 | €607,498 | €607,498 | = | 0.0% |
| Amounts payable | 17/49 | €9,862,489 | €10,035,728 | +€173,239 | +1.8% |
| Amounts payable within one year | 42/48 | €4,446,362 | €4,331,767 | -€114,595 | -2.6% |
| Trade debts | 44 | €87,534 | €87,802 | +€268 | +0.3% |
| Suppliers | 440/4 | €87,534 | €87,802 | +€268 | +0.3% |
| Taxes, remuneration and social security | 45 | €212,480 | €150,157 | -€62,323 | -29.3% |
| Taxes | 450/3 | €199,347 | €136,982 | -€62,365 | -31.3% |
| Remuneration and social security | 454/9 | €13,133 | €13,175 | +€42 | +0.3% |
| Other amounts payable | 47/48 | €4,146,348 | €4,093,808 | -€52,540 | -1.3% |
| Accrued charges and deferred income | 492/3 | €5,416,127 | €5,703,961 | +€287,834 | +5.3% |
| Non-recurring operating income | 76A | €15,825 | - | -€15,825 | |
| Remuneration, social security and pensions | 62 | €64,254 | €66,860 | +€2,606 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,564 | €54,159 | +€5,595 | +11.5% |
| Other operating charges | 640/8 | €10,371 | €5,836 | -€4,535 | -43.7% |
| Gross operating margin | 9900 | €386,147 | €443,488 | +€57,341 | +14.8% |
| Operating profit (loss) | 9901 | €262,958 | €316,633 | +€53,675 | +20.4% |
| Financial income | 75/76B | €50,803 | €193,378 | +€142,575 | +281% |
| Recurring financial income | 75 | €50,803 | €193,378 | +€142,575 | +281% |
| Financial charges | 65/66B | €296,402 | €294,959 | -€1,443 | -0.5% |
| Recurring financial charges | 65 | €296,402 | €293,108 | -€3,294 | -1.1% |
| Non-recurring financial charges | 66B | - | €1,851 | +€1,851 | |
| Profit (loss) for the period before taxes | 9903 | €17,359 | €215,052 | +€197,693 | +1,139% |
| Income taxes | 67/77 | €3,608 | €80,383 | +€76,775 | +2,128% |
| Profit (loss) for the period | 9904 | €13,751 | €134,669 | +€120,918 | +879% |
| Profit (loss) for the period to be appropriated | 9905 | €13,751 | €134,669 | +€120,918 | +879% |
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 17 October 2026 via checked.be.