BORMS: 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.
BORMS
Largest movements
- Cash +€30,364
up €30,364 (+62.6%), from €48,534 to €78,897
mainly Net result for the year (+€46,980) and Depreciation (+€21,322)
- Tangible fixed assets +€14,325
up €14,325 (+10.3%), from €138,768 to €153,093
of which Plant, machinery and equipment: +€15,108
- Deferred charges and accrued income +€2,671
up €2,671 (+102%), from €2,615 to €5,286
- Reserves +€46,980
up €46,980 (+61.9%), from €75,948 to €122,928
of which Distributable reserves: +€46,980
- Debts after one year -€17,138
down €17,138 (-29.1%), from €58,977 to €41,839
- Current portion of long-term debt +€13,260
up €13,260 (+80.8%), from €16,409 to €29,669
- Trade debts +€4,563
up €4,563 (+328%), from €1,389 to €5,953
- Tax, wage and social debts -€3,247
down €3,247 (-40.7%), from €7,969 to €4,722
- Gross operating margin +€12,852
up €12,852 (+15.0%), from €85,876 to €98,728
- Depreciation +€8,348
up €8,348 (+64.3%), from €12,974 to €21,322
- Taxes -€1,378
down €1,378 (-6.5%), from €21,100 to €19,722
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 | €199,398 | €244,666 | +€45,268 | +22.7% |
| Fixed assets | 21/28 | €138,768 | €153,093 | +€14,325 | +10.3% |
| Tangible fixed assets | 22/27 | €138,768 | €153,093 | +€14,325 | +10.3% |
| Land and buildings | 22 | €78,499 | €84,644 | +€6,145 | +7.8% |
| Plant, machinery and equipment | 23 | €23,476 | €38,584 | +€15,108 | +64.4% |
| Furniture and vehicles | 24 | €36,043 | €29,115 | -€6,928 | -19.2% |
| Other tangible fixed assets | 26 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €60,630 | €91,573 | +€30,943 | +51.0% |
| Amounts receivable within one year | 40/41 | €9,481 | €7,390 | -€2,091 | -22.1% |
| Trade receivables | 40 | €9,397 | €7,390 | -€2,007 | -21.4% |
| Other amounts receivable | 41 | €84 | €0 | -€84 | -100% |
| Cash at bank and in hand | 54/58 | €48,534 | €78,897 | +€30,364 | +62.6% |
| Deferred charges and accrued income | 490/1 | €2,615 | €5,286 | +€2,671 | +102% |
| Total equity and liabilities | 10/49 | €199,398 | €244,666 | +€45,268 | +22.7% |
| Equity | 10/15 | €114,654 | €161,633 | +€46,980 | +41.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €75,948 | €122,928 | +€46,980 | +61.9% |
| 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 | €74,088 | €121,068 | +€46,980 | +63.4% |
| Profit (loss) carried forward | 14 | €32,506 | €32,506 | = | 0.0% |
| Amounts payable | 17/49 | €84,744 | €83,033 | -€1,712 | -2.0% |
| Amounts payable after more than one year | 17 | €58,977 | €41,839 | -€17,138 | -29.1% |
| Financial debts | 170/4 | €58,977 | €41,839 | -€17,138 | -29.1% |
| Amounts payable within one year | 42/48 | €25,767 | €41,193 | +€15,426 | +59.9% |
| Current portion of amounts payable after more than one year | 42 | €16,409 | €29,669 | +€13,260 | +80.8% |
| Trade debts | 44 | €1,389 | €5,953 | +€4,563 | +328% |
| Suppliers | 440/4 | €1,389 | €5,953 | +€4,563 | +328% |
| Taxes, remuneration and social security | 45 | €7,969 | €4,722 | -€3,247 | -40.7% |
| Taxes | 450/3 | €7,969 | €4,722 | -€3,247 | -40.7% |
| Other amounts payable | 47/48 | - | €850 | +€850 | |
| Remuneration, social security and pensions | 62 | €2,343 | €2,422 | +€80 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,974 | €21,322 | +€8,348 | +64.3% |
| Other operating charges | 640/8 | €4,106 | €4,352 | +€246 | +6.0% |
| Gross operating margin | 9900 | €85,876 | €98,728 | +€12,852 | +15.0% |
| Operating profit (loss) | 9901 | €66,453 | €70,633 | +€4,179 | +6.3% |
| Financial income | 75/76B | €3 | €21 | +€18 | +592% |
| Recurring financial income | 75 | €3 | €21 | +€18 | +592% |
| Financial charges | 65/66B | €3,519 | €3,952 | +€433 | +12.3% |
| Recurring financial charges | 65 | €3,519 | €3,952 | +€433 | +12.3% |
| Profit (loss) for the period before taxes | 9903 | €62,938 | €66,702 | +€3,764 | +6.0% |
| Income taxes | 67/77 | €21,100 | €19,722 | -€1,378 | -6.5% |
| Profit (loss) for the period | 9904 | €41,838 | €46,980 | +€5,142 | +12.3% |
| Profit (loss) for the period to be appropriated | 9905 | €41,838 | €46,980 | +€5,142 | +12.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.