Borremans: 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.
Borremans
Largest movements
- Receivables within one year +€438,601
up €438,601 (+32.2%), from €1.4m to €1.8m
of which Trade receivables: +€311,136
- Tangible fixed assets +€410,686
up €410,686 (+24.2%), from €1.7m to €2.1m
of which Plant, machinery and equipment: +€417,834
- Cash +€72,908
up €72,908 (+26.7%), from €273,042 to €345,950
mainly Trade debts (+€535,968) and Debts after one year (+€373,150)
- Stocks and contracts +€50,014
up €50,014 (+22.6%), from €220,849 to €270,863
- Trade debts +€535,968
up €535,968 (+71.0%), from €755,045 to €1.3m
- Debts after one year +€373,150
up €373,150 (+30.6%), from €1.2m to €1.6m
- Current portion of long-term debt +€59,867
up €59,867 (+44.0%), from €136,185 to €196,052
- Tax, wage and social debts +€55,866
up €55,866 (+89.4%), from €62,475 to €118,342
of which Remuneration and social security: +€42,862
- Turnover -€6.9m
no longer reported in 2024 (was €6.9m)
- Purchases and services -€5.8m
no longer reported in 2024 (was €5.8m)
- Gross operating margin +€99,539
up €99,539 (+8.8%), from €1.1m to €1.2m
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,564,926 | €4,553,594 | +€988,668 | +27.7% |
| Fixed assets | 21/28 | €1,697,816 | €2,116,052 | +€418,236 | +24.6% |
| Tangible fixed assets | 22/27 | €1,697,816 | €2,108,502 | +€410,686 | +24.2% |
| Land and buildings | 22 | €708,919 | €672,553 | -€36,365 | -5.1% |
| Plant, machinery and equipment | 23 | €907,740 | €1,325,575 | +€417,834 | +46.0% |
| Furniture and vehicles | 24 | €48,455 | €50,926 | +€2,471 | +5.1% |
| Leasing and similar rights | 25 | €23,091 | €52,181 | +€29,091 | +126.0% |
| Other tangible fixed assets | 26 | €9,611 | €7,267 | -€2,344 | -24.4% |
| Financial fixed assets | 28 | - | €7,550 | +€7,550 | |
| Current assets | 29/58 | €1,867,110 | €2,437,542 | +€570,432 | +30.6% |
| Stocks and contracts in progress | 3 | €220,849 | €270,863 | +€50,014 | +22.6% |
| Stocks | 30/36 | €220,849 | €270,863 | +€50,014 | +22.6% |
| Amounts receivable within one year | 40/41 | €1,361,103 | €1,799,704 | +€438,601 | +32.2% |
| Trade receivables | 40 | €570,904 | €882,040 | +€311,136 | +54.5% |
| Other amounts receivable | 41 | €790,198 | €917,664 | +€127,466 | +16.1% |
| Current investments | 50/53 | - | €498 | +€498 | |
| Cash at bank and in hand | 54/58 | €273,042 | €345,950 | +€72,908 | +26.7% |
| Deferred charges and accrued income | 490/1 | €12,117 | €20,526 | +€8,410 | +69.4% |
| Total equity and liabilities | 10/49 | €3,564,926 | €4,553,594 | +€988,668 | +27.7% |
| Equity | 10/15 | €614,507 | €599,583 | -€14,924 | -2.4% |
| Contributions | 10/11 | €265,000 | €265,000 | = | 0.0% |
| Capital | 10 | €265,000 | €265,000 | = | 0.0% |
| Issued capital | 100 | €265,000 | €265,000 | = | 0.0% |
| Reserves | 13 | €181,952 | €191,028 | +€9,076 | +5.0% |
| Non-distributable reserves | 130/1 | €26,500 | €26,500 | = | 0.0% |
| Legal reserve | 130 | €26,500 | €26,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €136,702 | €145,778 | +€9,076 | +6.6% |
| Investment grants | 15 | €167,554 | €143,554 | -€24,000 | -14.3% |
| Amounts payable | 17/49 | €2,950,419 | €3,954,011 | +€1.0m | +34.0% |
| Amounts payable after more than one year | 17 | €1,220,762 | €1,593,912 | +€373,150 | +30.6% |
| Financial debts | 170/4 | €1,220,762 | €1,593,912 | +€373,150 | +30.6% |
| Amounts payable within one year | 42/48 | €1,729,657 | €2,359,975 | +€630,318 | +36.4% |
| Current portion of amounts payable after more than one year | 42 | €136,185 | €196,052 | +€59,867 | +44.0% |
| Financial debts | 43 | €300,000 | €300,000 | = | 0.0% |
| Credit institutions | 430/8 | €300,000 | €300,000 | = | 0.0% |
| Trade debts | 44 | €755,045 | €1,291,013 | +€535,968 | +71.0% |
| Suppliers | 440/4 | €755,045 | €1,291,013 | +€535,968 | +71.0% |
| Taxes, remuneration and social security | 45 | €62,475 | €118,342 | +€55,866 | +89.4% |
| Taxes | 450/3 | €21,681 | €34,686 | +€13,005 | +60.0% |
| Remuneration and social security | 454/9 | €40,794 | €83,656 | +€42,862 | +105.1% |
| Other amounts payable | 47/48 | €475,951 | €454,568 | -€21,383 | -4.5% |
| Accrued charges and deferred income | 492/3 | - | €124 | +€124 | |
| Turnover | 70 | €6,875,053 | - | -€6.9m | |
| Goods, raw materials, services and sundry goods | 60/61 | €5,776,465 | - | -€5.8m | |
| Remuneration, social security and pensions | 62 | €904,857 | €959,065 | +€54,209 | +6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €196,124 | €224,659 | +€28,536 | +14.5% |
| Other operating charges | 640/8 | €15,444 | €24,798 | +€9,354 | +60.6% |
| Non-recurring operating charges | 66A | €8,585 | - | -€8,585 | |
| Gross operating margin | 9900 | €1,126,354 | €1,225,894 | +€99,539 | +8.8% |
| Operating profit (loss) | 9901 | €1,346 | €17,371 | +€16,025 | +1190.4% |
| Financial income | 75/76B | €67,365 | €64,184 | -€3,181 | -4.7% |
| Recurring financial income | 75 | €67,365 | €64,184 | -€3,181 | -4.7% |
| Financial charges | 65/66B | €57,674 | €67,796 | +€10,122 | +17.5% |
| Recurring financial charges | 65 | €57,674 | €67,796 | +€10,122 | +17.5% |
| Profit (loss) for the period before taxes | 9903 | €11,037 | €13,759 | +€2,722 | +24.7% |
| Income taxes | 67/77 | €553 | €4,683 | +€4,130 | +746.3% |
| Profit (loss) for the period | 9904 | €10,484 | €9,076 | -€1,408 | -13.4% |
| Profit (loss) for the period to be appropriated | 9905 | €10,484 | €9,076 | -€1,408 | -13.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.