BORNE4ALL: what changed
Two fiscal 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.
BORNE4ALL
Largest movements
- Cash -€57,815
down €57,815 (-19.7%), from €294,144 to €236,329
mainly Current portion of long-term debt (-€97,811) and Investment in fixed assets (net) (-€53,276)
- Receivables within one year +€32,361
up €32,361 (+82.3%), from €39,344 to €71,705
of which Other amounts receivable: +€18,019
- Tangible fixed assets +€23,103
up €23,103 (+13.1%), from €176,177 to €199,280
of which Furniture and vehicles: +€17,343
- Stocks and contracts +€6,240
up €6,240 (+69.1%), from €9,030 to €15,270
- Reserves +€501,053
new in 2025: €501,053
- Profit (loss) carried forward -€405,104
no longer reported in 2025 (was €405,104)
- Current portion of long-term debt -€97,811
no longer reported in 2025 (was €97,811)
- Other debts +€8,883
up €8,883 (+196.3%), from €4,524 to €13,407
- Gross operating margin -€145,896
down €145,896 (-47.1%), from €309,612 to €163,717
- Staff costs -€44,066
down €44,066 (-92.6%), from €47,597 to €3,530
- Taxes -€26,058
down €26,058 (-47.0%), from €55,391 to €29,333
- Depreciation +€7,903
up €7,903 (+35.5%), from €22,271 to €30,174
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 | €518,948 | €524,786 | +€5,839 | +1.1% |
| Fixed assets | 21/28 | €176,177 | €199,280 | +€23,103 | +13.1% |
| Tangible fixed assets | 22/27 | €176,177 | €199,280 | +€23,103 | +13.1% |
| Land and buildings | 22 | €120,919 | €114,653 | -€6,266 | -5.2% |
| Plant, machinery and equipment | 23 | €16,756 | €28,781 | +€12,025 | +71.8% |
| Furniture and vehicles | 24 | €38,502 | €55,845 | +€17,343 | +45.0% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €342,771 | €325,507 | -€17,264 | -5.0% |
| Stocks and contracts in progress | 3 | €9,030 | €15,270 | +€6,240 | +69.1% |
| Stocks | 30/36 | €9,030 | €15,270 | +€6,240 | +69.1% |
| Amounts receivable within one year | 40/41 | €39,344 | €71,705 | +€32,361 | +82.3% |
| Trade receivables | 40 | €134 | €14,476 | +€14,342 | +10710.7% |
| Other amounts receivable | 41 | €39,210 | €57,230 | +€18,019 | +46.0% |
| Cash at bank and in hand | 54/58 | €294,144 | €236,329 | -€57,815 | -19.7% |
| Deferred charges and accrued income | 490/1 | €252 | €2,202 | +€1,950 | +772.2% |
| Total equity and liabilities | 10/49 | €518,948 | €524,786 | +€5,839 | +1.1% |
| Equity | 10/15 | €408,104 | €504,053 | +€95,950 | +23.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | - | €501,053 | +€501,053 | |
| Distributable reserves | 133 | - | €501,053 | +€501,053 | |
| Profit (loss) carried forward | 14 | €405,104 | - | -€405,104 | |
| Amounts payable | 17/49 | €110,844 | €20,733 | -€90,111 | -81.3% |
| Amounts payable after more than one year | 17 | €2,032 | - | -€2,032 | |
| Financial debts | 170/4 | €2,032 | - | -€2,032 | |
| Amounts payable within one year | 42/48 | €108,812 | €20,733 | -€88,079 | -80.9% |
| Current portion of amounts payable after more than one year | 42 | €97,811 | - | -€97,811 | |
| Trade debts | 44 | €4,777 | €2,626 | -€2,151 | -45.0% |
| Suppliers | 440/4 | €4,777 | €2,626 | -€2,151 | -45.0% |
| Taxes, remuneration and social security | 45 | €1,700 | €4,700 | +€3,000 | +176.5% |
| Taxes | 450/3 | €1,700 | €4,700 | +€3,000 | +176.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €4,524 | €13,407 | +€8,883 | +196.3% |
| Remuneration, social security and pensions | 62 | €47,597 | €3,530 | -€44,066 | -92.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,271 | €30,174 | +€7,903 | +35.5% |
| Other operating charges | 640/8 | €1,220 | €2,890 | +€1,670 | +136.9% |
| Non-recurring operating charges | 66A | - | €175 | +€175 | |
| Gross operating margin | 9900 | €309,612 | €163,717 | -€145,896 | -47.1% |
| Operating profit (loss) | 9901 | €238,525 | €126,947 | -€111,577 | -46.8% |
| Financial income | 75/76B | €7 | - | -€7 | |
| Recurring financial income | 75 | €7 | - | -€7 | |
| Financial charges | 65/66B | €689 | €1,664 | +€976 | +141.7% |
| Recurring financial charges | 65 | €689 | €1,664 | +€976 | +141.7% |
| Profit (loss) for the period before taxes | 9903 | €237,843 | €125,283 | -€112,561 | -47.3% |
| Income taxes | 67/77 | €55,391 | €29,333 | -€26,058 | -47.0% |
| Profit (loss) for the period | 9904 | €182,453 | €95,950 | -€86,503 | -47.4% |
| Profit (loss) for the period to be appropriated | 9905 | €182,453 | €95,950 | -€86,503 | -47.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.