BORSELLINO: 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.
BORSELLINO
Largest movements
- Stocks and contracts -€34,197
down €34,197 (-13.6%), from €251,839 to €217,642
- Tangible fixed assets -€10,209
down €10,209 (-36.0%), from €28,390 to €18,181
- Profit (loss) carried forward -€32,067
down €32,067 (-23.8%), from -€134,700 to -€166,767
- Trade debts -€16,723
down €16,723 (-25.6%), from €65,430 to €48,707
- Other debts +€9,510
up €9,510 (+12.7%), from €75,002 to €84,511
- Debts after one year -€8,274
down €8,274 (-53.9%), from €15,358 to €7,084
- Accrued charges and deferred income +€4,400
up €4,400 (+61.0%), from €7,210 to €11,610
- Depreciation -€8,821
down €8,821 (-46.4%), from €19,031 to €10,209
- Gross operating margin -€3,058
down €3,058 (-7.6%), from €40,292 to €37,233
- Financial income -€2,757
down €2,757 (-62.6%), from €4,401 to €1,644
- Staff costs +€1,627
up €1,627 (+3.1%), from €52,055 to €53,682
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.
Derived cash bridge
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 | €287,083 | €242,713 | -€44,370 | -15.5% |
| Fixed assets | 21/28 | €28,390 | €18,181 | -€10,209 | -36.0% |
| Tangible fixed assets | 22/27 | €28,390 | €18,181 | -€10,209 | -36.0% |
| Furniture and vehicles | 24 | €28,390 | €18,181 | -€10,209 | -36.0% |
| Current assets | 29/58 | €258,693 | €224,533 | -€34,161 | -13.2% |
| Stocks and contracts in progress | 3 | €251,839 | €217,642 | -€34,197 | -13.6% |
| Stocks | 30/36 | €251,839 | €217,642 | -€34,197 | -13.6% |
| Amounts receivable within one year | 40/41 | €2,060 | €2,061 | +€1 | 0.0% |
| Trade receivables | 40 | €1,960 | €1,961 | +€1 | +0.1% |
| Other amounts receivable | 41 | €100 | €100 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,565 | €2,516 | -€49 | -1.9% |
| Deferred charges and accrued income | 490/1 | €2,229 | €2,313 | +€85 | +3.8% |
| Total equity and liabilities | 10/49 | €287,083 | €242,713 | -€44,370 | -15.5% |
| Equity | 10/15 | €72,631 | €40,564 | -€32,067 | -44.2% |
| Contributions | 10/11 | €155,600 | €155,600 | = | 0.0% |
| Capital | 10 | €155,600 | €155,600 | = | 0.0% |
| Issued capital | 100 | €155,600 | €155,600 | = | 0.0% |
| Reserves | 13 | €51,731 | €51,731 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,560 | €15,560 | = | 0.0% |
| Legal reserve | 130 | €15,560 | €15,560 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,171 | €16,171 | = | 0.0% |
| Distributable reserves | 133 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€134,700 | -€166,767 | -€32,067 | -23.8% |
| Amounts payable | 17/49 | €214,452 | €202,150 | -€12,302 | -5.7% |
| Amounts payable after more than one year | 17 | €15,358 | €7,084 | -€8,274 | -53.9% |
| Financial debts | 170/4 | €15,358 | €7,084 | -€8,274 | -53.9% |
| Amounts payable within one year | 42/48 | €191,884 | €183,456 | -€8,429 | -4.4% |
| Current portion of amounts payable after more than one year | 42 | €8,032 | €8,274 | +€241 | +3.0% |
| Financial debts | 43 | €20,435 | €17,641 | -€2,794 | -13.7% |
| Credit institutions | 430/8 | €20,435 | €17,641 | -€2,794 | -13.7% |
| Trade debts | 44 | €65,430 | €48,707 | -€16,723 | -25.6% |
| Suppliers | 440/4 | €65,430 | €48,707 | -€16,723 | -25.6% |
| Taxes, remuneration and social security | 45 | €22,985 | €24,323 | +€1,338 | +5.8% |
| Taxes | 450/3 | €12,468 | €12,615 | +€147 | +1.2% |
| Remuneration and social security | 454/9 | €10,517 | €11,708 | +€1,191 | +11.3% |
| Other amounts payable | 47/48 | €75,002 | €84,511 | +€9,510 | +12.7% |
| Accrued charges and deferred income | 492/3 | €7,210 | €11,610 | +€4,400 | +61.0% |
| Remuneration, social security and pensions | 62 | €52,055 | €53,682 | +€1,627 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,031 | €10,209 | -€8,821 | -46.4% |
| Other operating charges | 640/8 | €305 | €468 | +€164 | +53.7% |
| Gross operating margin | 9900 | €40,292 | €37,233 | -€3,058 | -7.6% |
| Operating profit (loss) | 9901 | -€31,098 | -€27,126 | +€3,972 | +12.8% |
| Financial income | 75/76B | €4,401 | €1,644 | -€2,757 | -62.6% |
| Recurring financial income | 75 | €4,401 | €1,644 | -€2,757 | -62.6% |
| Financial charges | 65/66B | €6,488 | €6,469 | -€19 | -0.3% |
| Recurring financial charges | 65 | €6,488 | €6,469 | -€19 | -0.3% |
| Profit (loss) for the period before taxes | 9903 | -€33,185 | -€31,950 | +€1,235 | +3.7% |
| Income taxes | 67/77 | €129 | €117 | -€12 | -9.4% |
| Profit (loss) for the period | 9904 | -€33,314 | -€32,067 | +€1,247 | +3.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€33,314 | -€32,067 | +€1,247 | +3.7% |
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 21 October 2026 via checked.be.