Bormans: 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.
Bormans
Largest movements
- Tangible fixed assets -€14,215
down €14,215 (-2.6%), from €540,382 to €526,167
of which Land and buildings: -€18,878
- Cash -€13,993
down €13,993 (-60.0%), from €23,326 to €9,333
mainly Debts after one year (-€29,500) and Investment in fixed assets (net) (-€12,952)
- Debts after one year -€29,500
down €29,500 (-16.9%), from €174,106 to €144,606
- Profit (loss) carried forward -€9,153
down €9,153 (-16.2%), from €56,611 to €47,459
- Gross operating margin -€19,842
down €19,842 (-39.2%), from €50,580 to €30,739
- Depreciation +€3,137
up €3,137 (+13.1%), from €24,029 to €27,167
- Taxes -€1,188
down €1,188 (-74.4%), from €1,597 to €409
- Other operating charges +€1,104
up €1,104 (+24.7%), from €4,469 to €5,573
- Financial charges -€972
down €972 (-11.9%), from €8,153 to €7,182
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 | €583,275 | €552,660 | -€30,615 | -5.2% |
| Fixed assets | 21/28 | €540,382 | €526,167 | -€14,215 | -2.6% |
| Tangible fixed assets | 22/27 | €540,382 | €526,167 | -€14,215 | -2.6% |
| Land and buildings | 22 | €527,694 | €508,816 | -€18,878 | -3.6% |
| Furniture and vehicles | 24 | €12,688 | €17,351 | +€4,663 | +36.8% |
| Current assets | 29/58 | €42,893 | €26,493 | -€16,401 | -38.2% |
| Amounts receivable within one year | 40/41 | €10,340 | €6,744 | -€3,597 | -34.8% |
| Trade receivables | 40 | €9,065 | €6,744 | -€2,321 | -25.6% |
| Other amounts receivable | 41 | €1,275 | €0 | -€1,275 | -100% |
| Current investments | 50/53 | €7,111 | €7,111 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €23,326 | €9,333 | -€13,993 | -60.0% |
| Deferred charges and accrued income | 490/1 | €2,116 | €3,305 | +€1,189 | +56.2% |
| Total equity and liabilities | 10/49 | €583,275 | €552,660 | -€30,615 | -5.2% |
| Equity | 10/15 | €358,168 | €349,015 | -€9,153 | -2.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €282,964 | €282,964 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,477 | €1,477 | = | 0.0% |
| Distributable reserves | 133 | €281,487 | €281,487 | = | 0.0% |
| Profit (loss) carried forward | 14 | €56,611 | €47,459 | -€9,153 | -16.2% |
| Amounts payable | 17/49 | €225,107 | €203,644 | -€21,463 | -9.5% |
| Amounts payable after more than one year | 17 | €174,106 | €144,606 | -€29,500 | -16.9% |
| Financial debts | 170/4 | €174,106 | €144,606 | -€29,500 | -16.9% |
| Amounts payable within one year | 42/48 | €32,864 | €40,901 | +€8,037 | +24.5% |
| Current portion of amounts payable after more than one year | 42 | €28,523 | €29,500 | +€977 | +3.4% |
| Trade debts | 44 | €1,080 | €3,463 | +€2,383 | +221% |
| Suppliers | 440/4 | €1,080 | €3,463 | +€2,383 | +221% |
| Taxes, remuneration and social security | 45 | €2,911 | €2,161 | -€750 | -25.8% |
| Taxes | 450/3 | €2,911 | €2,161 | -€750 | -25.8% |
| Other amounts payable | 47/48 | €351 | €5,778 | +€5,427 | +1,548% |
| Accrued charges and deferred income | 492/3 | €18,137 | €18,137 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,029 | €27,167 | +€3,137 | +13.1% |
| Other operating charges | 640/8 | €4,469 | €5,573 | +€1,104 | +24.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €50,580 | €30,739 | -€19,842 | -39.2% |
| Operating profit (loss) | 9901 | €22,082 | -€2,001 | -€24,083 | |
| Financial income | 75/76B | €391 | €439 | +€48 | +12.4% |
| Recurring financial income | 75 | €391 | €439 | +€48 | +12.4% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €8,153 | €7,182 | -€972 | -11.9% |
| Recurring financial charges | 65 | €8,153 | €7,182 | -€972 | -11.9% |
| Profit (loss) for the period before taxes | 9903 | €14,319 | -€8,744 | -€23,063 | |
| Income taxes | 67/77 | €1,597 | €409 | -€1,188 | -74.4% |
| Profit (loss) for the period | 9904 | €12,723 | -€9,153 | -€21,875 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,723 | -€9,153 | -€21,875 |
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 19 October 2026 via checked.be.