Borré - Smet Consulting: what changed
What changed
Borré - Smet Consulting
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
filed annual accounts (NBB)
Net result for the year
€12,147
2024 · €36,641-€24,494
Equity
€431,436
2024 · €419,290+€12,147
Cash
€53,537
2024 · €58,739-€5,201
Balance sheet total
€452,159
2024 · €652,577-€200,418
Largest movements
Assets
- Current investments -€200,894
down €200,894 (-35.2%), from €569,981 to €369,087
Equity and liabilities
- Short-term financial debts -€210,000
no longer reported in 2025 (was €210,000)
- Reserves +€12,147
up €12,147 (+2.8%), from €429,097 to €441,244
Income statement
- Financial income -€41,471
down €41,471 (-89.1%), from €46,554 to €5,083
- Financial charges -€11,935
down €11,935 (-99.3%), from €12,020 to €85
- Taxes -€7,635
down €7,635 (-57.4%), from €13,303 to €5,668
- Other operating charges +€1,904
up €1,904 (+183%), from €1,040 to €2,944
- Gross operating margin -€783
down €783 (-4.7%), from €16,677 to €15,894
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€36,641
Gross operating margin
-€783
Depreciation
+€94
Other operating charges
-€1,904
Financial income
-€41,471
Financial charges
+€11,935
Taxes
+€7,635
Result 2025
€12,147
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€3,905
Investment
+€200,894
Financing
-€210,000
Cash 2024
€58,739
From operations (derived)
+€3,905
Net result for the year
+€12,147
Depreciation
+€133
Receivables within one year
-€5,810
Trade debts
+€1,186
Tax, wage and social debts
-€3,750
Investment (derived)
+€200,894
Current investments
+€200,894
Financing
-€210,000
Short-term financial debts
-€210,000
Cash 2025
€53,537
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €652,577 | €452,159 | -€200,418 | -30.7% |
| Fixed assets | 21/28 | €13,061 | €12,928 | -€133 | -1.0% |
| Tangible fixed assets | 22/27 | €13,061 | €12,928 | -€133 | -1.0% |
| Land and buildings | 22 | €13,061 | €12,928 | -€133 | -1.0% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Current assets | 29/58 | €639,516 | €439,231 | -€200,285 | -31.3% |
| Amounts receivable within one year | 40/41 | €10,796 | €16,607 | +€5,810 | +53.8% |
| Trade receivables | 40 | €9,099 | €12,120 | +€3,021 | +33.2% |
| Other amounts receivable | 41 | €1,697 | €4,486 | +€2,789 | +164% |
| Current investments | 50/53 | €569,981 | €369,087 | -€200,894 | -35.2% |
| Cash at bank and in hand | 54/58 | €58,739 | €53,537 | -€5,201 | -8.9% |
| Total equity and liabilities | 10/49 | €652,577 | €452,159 | -€200,418 | -30.7% |
| Equity | 10/15 | €419,290 | €431,436 | +€12,147 | +2.9% |
| Contributions | 10/11 | €120 | €120 | = | 0.0% |
| Reserves | 13 | €429,097 | €441,244 | +€12,147 | +2.8% |
| Distributable reserves | 133 | €429,097 | €441,244 | +€12,147 | +2.8% |
| Profit (loss) carried forward | 14 | -€9,927 | -€9,927 | = | 0.0% |
| Amounts payable | 17/49 | €233,287 | €20,722 | -€212,565 | -91.1% |
| Amounts payable within one year | 42/48 | €233,287 | €20,722 | -€212,565 | -91.1% |
| Financial debts | 43 | €210,000 | - | -€210,000 | |
| Other loans | 439 | €210,000 | - | -€210,000 | |
| Trade debts | 44 | €1,648 | €2,834 | +€1,186 | +71.9% |
| Suppliers | 440/4 | €1,648 | €2,834 | +€1,186 | +71.9% |
| Taxes, remuneration and social security | 45 | €3,750 | - | -€3,750 | |
| Taxes | 450/3 | €3,750 | - | -€3,750 | |
| Other amounts payable | 47/48 | €17,889 | €17,889 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €227 | €133 | -€94 | -41.3% |
| Other operating charges | 640/8 | €1,040 | €2,944 | +€1,904 | +183% |
| Gross operating margin | 9900 | €16,677 | €15,894 | -€783 | -4.7% |
| Operating profit (loss) | 9901 | €15,410 | €12,817 | -€2,593 | -16.8% |
| Financial income | 75/76B | €46,554 | €5,083 | -€41,471 | -89.1% |
| Recurring financial income | 75 | €46,554 | €5,083 | -€41,471 | -89.1% |
| Financial charges | 65/66B | €12,020 | €85 | -€11,935 | -99.3% |
| Recurring financial charges | 65 | €12,020 | €85 | -€11,935 | -99.3% |
| Profit (loss) for the period before taxes | 9903 | €49,944 | €17,815 | -€32,129 | -64.3% |
| Income taxes | 67/77 | €13,303 | €5,668 | -€7,635 | -57.4% |
| Profit (loss) for the period | 9904 | €36,641 | €12,147 | -€24,494 | -66.8% |
| Profit (loss) for the period to be appropriated | 9905 | €36,641 | €12,147 | -€24,494 | -66.8% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.