BORLUUT: 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.
BORLUUT
Largest movements
- Receivables within one year -€37,232
down €37,232 (-93.3%), from €39,886 to €2,654
of which Trade receivables: -€35,666
- Cash -€19,703
down €19,703 (-11.3%), from €173,957 to €154,254
mainly Contributions, distributions and other (-€37,000) and Accrued charges and deferred income (-€35,088)
- Tangible fixed assets -€10,212
down €10,212 (-12.4%), from €82,140 to €71,928
of which Land and buildings: -€8,606
- Accrued charges and deferred income -€35,088
down €35,088 (-63.1%), from €55,593 to €20,505
- Reserves -€22,424
down €22,424 (-16.5%), from €135,550 to €113,126
- Trade debts +€13,049
up €13,049 (+8841.2%), from €148 to €13,196
- Debts after one year -€12,538
down €12,538 (-40.6%), from €30,849 to €18,310
- Profit (loss) carried forward +€10,753
no longer reported in 2025 (was -€10,753)
- Gross operating margin -€26,355
down €26,355 (-6.7%), from €396,112 to €369,757
- Staff costs +€9,365
up €9,365 (+3.1%), from €300,870 to €310,236
- Depreciation -€7,381
down €7,381 (-24.3%), from €30,362 to €22,981
- Other operating charges -€5,844
down €5,844 (-73.4%), from €7,964 to €2,120
- Financial charges -€4,234
down €4,234 (-35.5%), from €11,928 to €7,694
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 | €311,373 | €243,277 | -€68,096 | -21.9% |
| Fixed assets | 21/28 | €82,140 | €71,928 | -€10,212 | -12.4% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €82,140 | €71,928 | -€10,212 | -12.4% |
| Land and buildings | 22 | €47,699 | €39,093 | -€8,606 | -18.0% |
| Plant, machinery and equipment | 23 | €27,476 | €29,228 | +€1,752 | +6.4% |
| Furniture and vehicles | 24 | €6,965 | €3,607 | -€3,358 | -48.2% |
| Current assets | 29/58 | €229,233 | €171,349 | -€57,884 | -25.3% |
| Stocks and contracts in progress | 3 | €13,425 | €12,476 | -€949 | -7.1% |
| Stocks | 30/36 | €13,425 | €12,476 | -€949 | -7.1% |
| Amounts receivable within one year | 40/41 | €39,886 | €2,654 | -€37,232 | -93.3% |
| Trade receivables | 40 | €35,666 | - | -€35,666 | |
| Other amounts receivable | 41 | €4,219 | €2,654 | -€1,565 | -37.1% |
| Cash at bank and in hand | 54/58 | €173,957 | €154,254 | -€19,703 | -11.3% |
| Deferred charges and accrued income | 490/1 | €1,965 | €1,965 | = | 0.0% |
| Total equity and liabilities | 10/49 | €311,373 | €243,277 | -€68,096 | -21.9% |
| Equity | 10/15 | €130,997 | €119,326 | -€11,671 | -8.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €135,550 | €113,126 | -€22,424 | -16.5% |
| Distributable reserves | 133 | €135,550 | €113,126 | -€22,424 | -16.5% |
| Profit (loss) carried forward | 14 | -€10,753 | - | +€10,753 | |
| Amounts payable | 17/49 | €180,376 | €123,951 | -€56,426 | -31.3% |
| Amounts payable after more than one year | 17 | €30,849 | €18,310 | -€12,538 | -40.6% |
| Financial debts | 170/4 | €30,849 | €18,310 | -€12,538 | -40.6% |
| Amounts payable within one year | 42/48 | €93,934 | €85,135 | -€8,799 | -9.4% |
| Current portion of amounts payable after more than one year | 42 | €18,957 | €12,538 | -€6,419 | -33.9% |
| Trade debts | 44 | €148 | €13,196 | +€13,049 | +8841.2% |
| Suppliers | 440/4 | €148 | €13,196 | +€13,049 | +8841.2% |
| Taxes, remuneration and social security | 45 | €32,366 | €21,841 | -€10,525 | -32.5% |
| Taxes | 450/3 | €15,210 | €4,295 | -€10,915 | -71.8% |
| Remuneration and social security | 454/9 | €17,156 | €17,546 | +€390 | +2.3% |
| Other amounts payable | 47/48 | €42,464 | €37,560 | -€4,904 | -11.5% |
| Accrued charges and deferred income | 492/3 | €55,593 | €20,505 | -€35,088 | -63.1% |
| Remuneration, social security and pensions | 62 | €300,870 | €310,236 | +€9,365 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,362 | €22,981 | -€7,381 | -24.3% |
| Other operating charges | 640/8 | €7,964 | €2,120 | -€5,844 | -73.4% |
| Gross operating margin | 9900 | €396,112 | €369,757 | -€26,355 | -6.7% |
| Operating profit (loss) | 9901 | €56,915 | €34,420 | -€22,495 | -39.5% |
| Financial income | 75/76B | €134 | €61 | -€74 | -54.9% |
| Recurring financial income | 75 | €134 | €61 | -€74 | -54.9% |
| Financial charges | 65/66B | €11,928 | €7,694 | -€4,234 | -35.5% |
| Recurring financial charges | 65 | €11,928 | €7,694 | -€4,234 | -35.5% |
| Profit (loss) for the period before taxes | 9903 | €45,121 | €26,787 | -€18,334 | -40.6% |
| Income taxes | 67/77 | €0 | €1,458 | +€1,458 | |
| Profit (loss) for the period | 9904 | €45,121 | €25,329 | -€19,792 | -43.9% |
| Profit (loss) for the period to be appropriated | 9905 | €45,121 | €25,329 | -€19,792 | -43.9% |
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.