BORMAGRI: 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.
BORMAGRI
Largest movements
- Receivables within one year -€61,484
down €61,484 (-62.8%), from €97,860 to €36,376
of which Trade receivables: -€61,514
- Cash +€29,079
up €29,079 (+137.7%), from €21,125 to €50,204
mainly Receivables within one year (+€61,484) and Net result for the year (+€19,685)
- Tangible fixed assets -€19,429
down €19,429 (-22.7%), from €85,780 to €66,351
of which Furniture and vehicles: -€16,186
- Trade debts -€25,151
down €25,151 (-83.7%), from €30,066 to €4,916
- Profit (loss) carried forward +€19,685
up €19,685 (+44.7%), from -€44,088 to -€24,402
- Tax, wage and social debts -€14,760
down €14,760 (-94.3%), from €15,655 to €895
- Short-term financial debts -€13,175
no longer reported in 2025 (was €13,175)
- Other debts -€7,381
down €7,381 (-5.2%), from €142,645 to €135,264
- Financial charges -€1,524
down €1,524 (-52.8%), from €2,885 to €1,360
- Other operating charges -€896
down €896 (-47.4%), from €1,888 to €993
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 | €229,895 | €179,886 | -€50,009 | -21.8% |
| Fixed assets | 21/28 | €95,304 | €75,874 | -€19,429 | -20.4% |
| Tangible fixed assets | 22/27 | €85,780 | €66,351 | -€19,429 | -22.7% |
| Plant, machinery and equipment | 23 | €15,748 | €12,504 | -€3,244 | -20.6% |
| Furniture and vehicles | 24 | €70,032 | €53,847 | -€16,186 | -23.1% |
| Financial fixed assets | 28 | €9,523 | €9,523 | = | 0.0% |
| Current assets | 29/58 | €134,591 | €104,012 | -€30,579 | -22.7% |
| Stocks and contracts in progress | 3 | €11,764 | €11,398 | -€365 | -3.1% |
| Stocks | 30/36 | €11,764 | €11,398 | -€365 | -3.1% |
| Amounts receivable within one year | 40/41 | €97,860 | €36,376 | -€61,484 | -62.8% |
| Trade receivables | 40 | €97,674 | €36,160 | -€61,514 | -63.0% |
| Other amounts receivable | 41 | €187 | €216 | +€29 | +15.7% |
| Cash at bank and in hand | 54/58 | €21,125 | €50,204 | +€29,079 | +137.7% |
| Deferred charges and accrued income | 490/1 | €3,842 | €6,033 | +€2,191 | +57.0% |
| Total equity and liabilities | 10/49 | €229,895 | €179,886 | -€50,009 | -21.8% |
| Equity | 10/15 | -€16,588 | €3,098 | +€19,685 | |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €2,500 | €2,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€44,088 | -€24,402 | +€19,685 | +44.7% |
| Amounts payable | 17/49 | €246,482 | €176,788 | -€69,694 | -28.3% |
| Amounts payable after more than one year | 17 | €35,714 | €29,800 | -€5,914 | -16.6% |
| Financial debts | 170/4 | €35,714 | €29,800 | -€5,914 | -16.6% |
| Amounts payable within one year | 42/48 | €210,170 | €146,989 | -€63,181 | -30.1% |
| Current portion of amounts payable after more than one year | 42 | €8,629 | €5,914 | -€2,715 | -31.5% |
| Financial debts | 43 | €13,175 | - | -€13,175 | |
| Credit institutions | 430/8 | €13,175 | - | -€13,175 | |
| Trade debts | 44 | €30,066 | €4,916 | -€25,151 | -83.7% |
| Suppliers | 440/4 | €30,066 | €4,916 | -€25,151 | -83.7% |
| Taxes, remuneration and social security | 45 | €15,655 | €895 | -€14,760 | -94.3% |
| Taxes | 450/3 | €15,655 | €895 | -€14,760 | -94.3% |
| Other amounts payable | 47/48 | €142,645 | €135,264 | -€7,381 | -5.2% |
| Accrued charges and deferred income | 492/3 | €599 | - | -€599 | |
| Remuneration, social security and pensions | 62 | €259 | - | -€259 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,171 | €19,429 | +€258 | +1.3% |
| Other operating charges | 640/8 | €1,888 | €993 | -€896 | -47.4% |
| Gross operating margin | 9900 | €41,188 | €41,355 | +€167 | +0.4% |
| Operating profit (loss) | 9901 | €19,870 | €20,933 | +€1,063 | +5.3% |
| Financial income | 75/76B | €241 | €113 | -€128 | -53.2% |
| Recurring financial income | 75 | €241 | €113 | -€128 | -53.2% |
| Financial charges | 65/66B | €2,885 | €1,360 | -€1,524 | -52.8% |
| Recurring financial charges | 65 | €2,885 | €1,360 | -€1,524 | -52.8% |
| Profit (loss) for the period before taxes | 9903 | €17,226 | €19,685 | +€2,459 | +14.3% |
| Profit (loss) for the period | 9904 | €17,226 | €19,685 | +€2,459 | +14.3% |
| Profit (loss) for the period to be appropriated | 9905 | €17,226 | €19,685 | +€2,459 | +14.3% |
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 11 October 2026 via checked.be.