BORLON Philippe: 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.
BORLON Philippe
Largest movements
- Cash +€41,889
up €41,889 (+46.8%), from €89,459 to €131,348
mainly Net result for the year (+€53,339) and Depreciation (+€33,797)
- Tangible fixed assets -€26,180
down €26,180 (-14.5%), from €180,658 to €154,478
of which Plant, machinery and equipment: -€14,624
- Intangible fixed assets -€5,314
no longer reported in 2025 (was €5,314)
- Profit (loss) carried forward +€53,339
up €53,339 (+1,328%), from €4,016 to €57,355
- Debts after one year -€35,305
down €35,305 (-50.4%), from €70,049 to €34,744
- Current portion of long-term debt -€12,598
down €12,598 (-26.3%), from €47,904 to €35,305
- Tax, wage and social debts +€6,673
up €6,673 (+36.8%), from €18,140 to €24,814
of which Remuneration and social security: +€3,729
- Depreciation -€22,176
down €22,176 (-39.6%), from €55,973 to €33,797
- Gross operating margin -€9,012
down €9,012 (-5.2%), from €172,911 to €163,900
- Staff costs +€4,010
up €4,010 (+7.4%), from €53,944 to €57,953
- Taxes +€3,498
up €3,498 (+29.8%), from €11,740 to €15,238
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 | €283,708 | €293,851 | +€10,143 | +3.6% |
| Fixed assets | 21/28 | €186,131 | €154,638 | -€31,494 | -16.9% |
| Intangible fixed assets | 21 | €5,314 | - | -€5,314 | |
| Tangible fixed assets | 22/27 | €180,658 | €154,478 | -€26,180 | -14.5% |
| Plant, machinery and equipment | 23 | €78,407 | €63,783 | -€14,624 | -18.7% |
| Furniture and vehicles | 24 | €5,494 | €852 | -€4,642 | -84.5% |
| Other tangible fixed assets | 26 | €96,757 | €89,842 | -€6,915 | -7.1% |
| Financial fixed assets | 28 | €160 | €160 | = | 0.0% |
| Current assets | 29/58 | €97,576 | €139,213 | +€41,637 | +42.7% |
| Stocks and contracts in progress | 3 | €5,491 | €6,474 | +€983 | +17.9% |
| Stocks | 30/36 | €5,491 | €6,474 | +€983 | +17.9% |
| Amounts receivable within one year | 40/41 | €2,040 | €433 | -€1,608 | -78.8% |
| Trade receivables | 40 | €704 | €433 | -€272 | -38.6% |
| Other amounts receivable | 41 | €1,336 | - | -€1,336 | |
| Cash at bank and in hand | 54/58 | €89,459 | €131,348 | +€41,889 | +46.8% |
| Deferred charges and accrued income | 490/1 | €587 | €960 | +€373 | +63.5% |
| Total equity and liabilities | 10/49 | €283,708 | €293,851 | +€10,143 | +3.6% |
| Equity | 10/15 | €142,151 | €194,869 | +€52,718 | +37.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €116,860 | €116,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €115,000 | €115,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,016 | €57,355 | +€53,339 | +1,328% |
| Investment grants | 15 | €8,875 | €8,253 | -€621 | -7.0% |
| Amounts payable | 17/49 | €141,557 | €98,982 | -€42,575 | -30.1% |
| Amounts payable after more than one year | 17 | €70,049 | €34,744 | -€35,305 | -50.4% |
| Financial debts | 170/4 | €70,049 | €34,744 | -€35,305 | -50.4% |
| Amounts payable within one year | 42/48 | €71,508 | €64,238 | -€7,269 | -10.2% |
| Current portion of amounts payable after more than one year | 42 | €47,904 | €35,305 | -€12,598 | -26.3% |
| Trade debts | 44 | €2,363 | €1,019 | -€1,344 | -56.9% |
| Suppliers | 440/4 | €2,363 | €1,019 | -€1,344 | -56.9% |
| Taxes, remuneration and social security | 45 | €18,140 | €24,814 | +€6,673 | +36.8% |
| Taxes | 450/3 | €8,189 | €11,133 | +€2,944 | +36.0% |
| Remuneration and social security | 454/9 | €9,952 | €13,681 | +€3,729 | +37.5% |
| Other amounts payable | 47/48 | €3,100 | €3,100 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €53,944 | €57,953 | +€4,010 | +7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,973 | €33,797 | -€22,176 | -39.6% |
| Other operating charges | 640/8 | €3,271 | €3,507 | +€236 | +7.2% |
| Gross operating margin | 9900 | €172,911 | €163,900 | -€9,012 | -5.2% |
| Operating profit (loss) | 9901 | €59,723 | €68,641 | +€8,918 | +14.9% |
| Financial income | 75/76B | €1,159 | €1,622 | +€463 | +40.0% |
| Recurring financial income | 75 | €1,159 | €1,622 | +€463 | +40.0% |
| Financial charges | 65/66B | €2,633 | €1,686 | -€946 | -35.9% |
| Recurring financial charges | 65 | €2,633 | €1,686 | -€946 | -35.9% |
| Profit (loss) for the period before taxes | 9903 | €58,249 | €68,578 | +€10,328 | +17.7% |
| Income taxes | 67/77 | €11,740 | €15,238 | +€3,498 | +29.8% |
| Profit (loss) for the period | 9904 | €46,509 | €53,339 | +€6,830 | +14.7% |
| Profit (loss) for the period to be appropriated | 9905 | €46,509 | €53,339 | +€6,830 | +14.7% |
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 13 October 2026 via checked.be.