BORREVELD: 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.
What changed
BORREVELD
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€4,492
2024 · -€10,816+€15,308
Equity
€217,862
2024 · €213,371+€4,492
Cash
€1,337
2024 · €489+€848
Balance sheet total
€1.7m
2024 · €1.7m-€68,974
Largest movements
Assets
- Tangible fixed assets -€78,022
down €78,022 (-4.6%), from €1.7m to €1.6m
of which Other tangible fixed assets: -€61,279
Equity and liabilities
- Debts after one year -€75,810
down €75,810 (-7.0%), from €1.1m to €1.0m
Income statement
- Gross operating margin +€38,622
up €38,622 (+34.7%), from €111,186 to €149,809
- Financial charges +€21,091
up €21,091 (+97.2%), from €21,707 to €42,798
- Other operating charges +€1,704
up €1,704 (+20.4%), from €8,342 to €10,046
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.
Result 2024
-€10,816
Gross operating margin
+€38,622
Depreciation
-€520
Other operating charges
-€1,704
Financial charges
-€21,091
Result 2025
€4,492
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.
From operations
+€93,591
Investment
-€15,900
Financing
-€76,843
Cash 2024
€489
From operations (derived)
+€93,591
Net result for the year
+€4,492
Depreciation
+€93,922
Receivables within one year
-€8,200
Provisions
-€1,449
Trade debts
+€4,921
Accrued charges and deferred income
-€94
Investment (derived)
-€15,900
Investment in fixed assets (net)
-€15,900
Financing
-€76,843
Debts after one year
-€75,810
Current portion of long-term debt
-€1,033
Cash 2025
€1,337
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,735,394 | €1,666,421 | -€68,974 | -4.0% |
| Fixed assets | 21/28 | €1,712,706 | €1,634,684 | -€78,022 | -4.6% |
| Tangible fixed assets | 22/27 | €1,712,656 | €1,634,634 | -€78,022 | -4.6% |
| Land and buildings | 22 | €956,513 | €939,770 | -€16,743 | -1.8% |
| Other tangible fixed assets | 26 | €756,143 | €694,864 | -€61,279 | -8.1% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €22,689 | €31,737 | +€9,048 | +39.9% |
| Amounts receivable within one year | 40/41 | €22,200 | €30,400 | +€8,200 | +36.9% |
| Other amounts receivable | 41 | €22,200 | €30,400 | +€8,200 | +36.9% |
| Cash at bank and in hand | 54/58 | €489 | €1,337 | +€848 | +173.6% |
| Total equity and liabilities | 10/49 | €1,735,394 | €1,666,421 | -€68,974 | -4.0% |
| Equity | 10/15 | €213,371 | €217,862 | +€4,492 | +2.1% |
| Contributions | 10/11 | €550,000 | €550,000 | = | 0.0% |
| Capital | 10 | €550,000 | €550,000 | = | 0.0% |
| Issued capital | 100 | €550,000 | €550,000 | = | 0.0% |
| Reserves | 13 | €48,350 | €44,915 | -€3,434 | -7.1% |
| Tax-exempt reserves | 132 | €48,350 | €44,915 | -€3,434 | -7.1% |
| Profit (loss) carried forward | 14 | -€384,979 | -€377,053 | +€7,926 | +2.1% |
| Provisions and deferred taxes | 16 | €20,297 | €18,848 | -€1,449 | -7.1% |
| Deferred taxes | 168 | €20,297 | €18,848 | -€1,449 | -7.1% |
| Amounts payable | 17/49 | €1,501,727 | €1,429,710 | -€72,017 | -4.8% |
| Amounts payable after more than one year | 17 | €1,088,026 | €1,012,216 | -€75,810 | -7.0% |
| Financial debts | 170/4 | €1,088,026 | €1,012,216 | -€75,810 | -7.0% |
| Amounts payable within one year | 42/48 | €412,541 | €416,429 | +€3,888 | +0.9% |
| Current portion of amounts payable after more than one year | 42 | €84,581 | €83,548 | -€1,033 | -1.2% |
| Financial debts | 43 | €300,000 | €300,000 | = | 0.0% |
| Credit institutions | 430/8 | €300,000 | €300,000 | = | 0.0% |
| Trade debts | 44 | €8,745 | €13,666 | +€4,921 | +56.3% |
| Suppliers | 440/4 | €8,745 | €13,666 | +€4,921 | +56.3% |
| Other amounts payable | 47/48 | €19,215 | €19,215 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,159 | €1,065 | -€94 | -8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,402 | €93,922 | +€520 | +0.6% |
| Other operating charges | 640/8 | €8,342 | €10,046 | +€1,704 | +20.4% |
| Gross operating margin | 9900 | €111,186 | €149,809 | +€38,622 | +34.7% |
| Operating profit (loss) | 9901 | €9,442 | €45,841 | +€36,399 | +385.5% |
| Financial charges | 65/66B | €21,707 | €42,798 | +€21,091 | +97.2% |
| Recurring financial charges | 65 | €21,707 | €42,798 | +€21,091 | +97.2% |
| Profit (loss) for the period before taxes | 9903 | -€12,265 | €3,043 | +€15,308 | |
| Transfer from deferred taxes | 780 | €1,449 | €1,449 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€10,816 | €4,492 | +€15,308 | |
| Transfer from tax-exempt reserves | 789 | €3,434 | €3,434 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,382 | €7,926 | +€15,308 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.