Borrel: 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.
Borrel
Largest movements
- Tangible fixed assets +€37,114
up €37,114 (+43.3%), from €85,670 to €122,784
of which Other tangible fixed assets: +€47,306
- Receivables within one year -€15,011
down €15,011 (-51.6%), from €29,064 to €14,053
- Cash +€7,984
up €7,984 (+76.1%), from €10,492 to €18,476
mainly Debts after one year (+€51,383) and Receivables within one year (+€15,011)
- Stocks and contracts +€3,857
up €3,857 (+1.9%), from €201,184 to €205,041
- Debts after one year +€51,383
up €51,383 (+14.3%), from €359,070 to €410,454
- Profit (loss) carried forward -€33,959
down €33,959 (-76.7%), from -€44,277 to -€78,236
- Trade debts +€12,586
up €12,586 (+256.7%), from €4,902 to €17,488
- Gross operating margin +€1,489
up €1,489 (+11.8%), from -€12,620 to -€11,131
- Depreciation +€1,370
up €1,370 (+10.6%), from €12,945 to €14,315
- Financial charges +€1,310
up €1,310 (+21.1%), from €6,216 to €7,525
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 | €339,670 | €370,844 | +€31,175 | +9.2% |
| Fixed assets | 21/28 | €90,620 | €127,734 | +€37,114 | +41.0% |
| Tangible fixed assets | 22/27 | €85,670 | €122,784 | +€37,114 | +43.3% |
| Plant, machinery and equipment | 23 | €85,670 | €75,478 | -€10,191 | -11.9% |
| Other tangible fixed assets | 26 | - | €47,306 | +€47,306 | |
| Financial fixed assets | 28 | €4,950 | €4,950 | = | 0.0% |
| Current assets | 29/58 | €249,050 | €243,110 | -€5,940 | -2.4% |
| Stocks and contracts in progress | 3 | €201,184 | €205,041 | +€3,857 | +1.9% |
| Stocks | 30/36 | €201,184 | €205,041 | +€3,857 | +1.9% |
| Amounts receivable within one year | 40/41 | €29,064 | €14,053 | -€15,011 | -51.6% |
| Trade receivables | 40 | €29,064 | €14,053 | -€15,011 | -51.6% |
| Cash at bank and in hand | 54/58 | €10,492 | €18,476 | +€7,984 | +76.1% |
| Deferred charges and accrued income | 490/1 | €8,310 | €5,540 | -€2,770 | -33.3% |
| Total equity and liabilities | 10/49 | €339,670 | €370,844 | +€31,175 | +9.2% |
| Equity | 10/15 | -€32,277 | -€66,236 | -€33,959 | -105.2% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€44,277 | -€78,236 | -€33,959 | -76.7% |
| Amounts payable | 17/49 | €371,947 | €437,081 | +€65,134 | +17.5% |
| Amounts payable after more than one year | 17 | €359,070 | €410,454 | +€51,383 | +14.3% |
| Other amounts payable | 178/9 | €359,070 | €410,454 | +€51,383 | +14.3% |
| Amounts payable within one year | 42/48 | €12,877 | €26,627 | +€13,750 | +106.8% |
| Trade debts | 44 | €4,902 | €17,488 | +€12,586 | +256.7% |
| Suppliers | 440/4 | €4,902 | €17,488 | +€12,586 | +256.7% |
| Taxes, remuneration and social security | 45 | €4,177 | €5,356 | +€1,178 | +28.2% |
| Taxes | 450/3 | €4,177 | €5,356 | +€1,178 | +28.2% |
| Other amounts payable | 47/48 | €3,797 | €3,783 | -€14 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,945 | €14,315 | +€1,370 | +10.6% |
| Other operating charges | 640/8 | €1,090 | €988 | -€102 | -9.3% |
| Gross operating margin | 9900 | -€12,620 | -€11,131 | +€1,489 | +11.8% |
| Operating profit (loss) | 9901 | -€26,655 | -€26,434 | +€221 | +0.8% |
| Financial income | 75/76B | €42 | - | -€42 | |
| Recurring financial income | 75 | €42 | - | -€42 | |
| Financial charges | 65/66B | €6,216 | €7,525 | +€1,310 | +21.1% |
| Recurring financial charges | 65 | €6,216 | €7,525 | +€1,310 | +21.1% |
| Profit (loss) for the period before taxes | 9903 | -€32,828 | -€33,959 | -€1,131 | -3.4% |
| Profit (loss) for the period | 9904 | -€32,828 | -€33,959 | -€1,131 | -3.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€32,828 | -€33,959 | -€1,131 | -3.4% |
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 9 October 2026 via checked.be.