BORVO: 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
BORVO
NACE 68.110, Buying and selling of own real estate
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
-€6,252
2023 · €790,546-€796,798
Equity
€1.1m
2023 · €1.1m-€6,252
Cash
€227,196
2023 · €1.3m-€1.0m
Balance sheet total
€1.4m
2023 · €1.4m-€33,862
Largest movements
Assets
- Cash -€1.0m
down €1.0m (-82.1%), from €1.3m to €227,196
mainly Current investments (-€1.0m) and Other debts (-€19,022)
- Current investments +€1.0m
new in 2024: €1.0m
Equity and liabilities
- Other debts -€19,022
down €19,022 (-83.9%), from €22,674 to €3,652
Income statement
- Gross operating margin -€1.1m
down €1.1m, from €1.1m to -€16,775
- Financial income +€12,838
up €12,838 (+1285.4%), from €999 to €13,837
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.
Result 2023
€790,546
Gross operating margin
-€1.1m
Depreciation
-€764
Other operating charges
+€5,378
Other operating items
+€3,600
Financial income
+€12,838
Financial charges
+€3,828
Taxes
+€6,518
Deferred taxes and other
+€257,611
Result 2024
-€6,252
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.
From operations
-€39,032
Investment
-€1.0m
Financing
€0
Cash 2023
€1.3m
From operations (derived)
-€39,032
Net result for the year
-€6,252
Depreciation
+€1,833
Receivables after one year
+€4,365
Receivables within one year
-€141
Deferred charges and accrued income
-€11,228
Trade debts
-€4,236
Tax, wage and social debts
-€4,351
Other debts
-€19,022
Investment (derived)
-€1.0m
Current investments
-€1.0m
Cash 2024
€227,196
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,400,844 | €1,366,982 | -€33,862 | -2.4% |
| Fixed assets | 21/28 | €102,572 | €100,738 | -€1,833 | -1.8% |
| Tangible fixed assets | 22/27 | €102,572 | €100,738 | -€1,833 | -1.8% |
| Land and buildings | 22 | €98,141 | €98,141 | = | 0.0% |
| Plant, machinery and equipment | 23 | €4,431 | €2,597 | -€1,833 | -41.4% |
| Current assets | 29/58 | €1,298,272 | €1,266,244 | -€32,028 | -2.5% |
| Amounts receivable after more than one year | 29 | €23,541 | €19,176 | -€4,365 | -18.5% |
| Other amounts receivable | 291 | €23,541 | €19,176 | -€4,365 | -18.5% |
| Amounts receivable within one year | 40/41 | €5,022 | €5,164 | +€141 | +2.8% |
| Other amounts receivable | 41 | €5,022 | €5,164 | +€141 | +2.8% |
| Current investments | 50/53 | - | €1,000,000 | +€1.0m | |
| Cash at bank and in hand | 54/58 | €1,266,228 | €227,196 | -€1.0m | -82.1% |
| Deferred charges and accrued income | 490/1 | €3,480 | €14,708 | +€11,228 | +322.6% |
| Total equity and liabilities | 10/49 | €1,400,844 | €1,366,982 | -€33,862 | -2.4% |
| Equity | 10/15 | €1,107,826 | €1,101,575 | -€6,252 | -0.6% |
| Contributions | 10/11 | €247,150 | €247,150 | = | 0.0% |
| Capital | 10 | €247,150 | €247,150 | = | 0.0% |
| Issued capital | 100 | €247,150 | €247,150 | = | 0.0% |
| Reserves | 13 | €803,845 | €803,845 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,574 | €11,574 | = | 0.0% |
| Legal reserve | 130 | €11,574 | €11,574 | = | 0.0% |
| Tax-exempt reserves | 132 | €772,832 | €772,832 | = | 0.0% |
| Distributable reserves | 133 | €19,439 | €19,439 | = | 0.0% |
| Profit (loss) carried forward | 14 | €56,831 | €50,579 | -€6,252 | -11.0% |
| Provisions and deferred taxes | 16 | €257,611 | €257,611 | = | 0.0% |
| Deferred taxes | 168 | €257,611 | €257,611 | = | 0.0% |
| Amounts payable | 17/49 | €35,406 | €7,797 | -€27,610 | -78.0% |
| Amounts payable within one year | 42/48 | €35,406 | €7,797 | -€27,610 | -78.0% |
| Trade debts | 44 | €8,381 | €4,145 | -€4,236 | -50.5% |
| Suppliers | 440/4 | €8,381 | €4,145 | -€4,236 | -50.5% |
| Taxes, remuneration and social security | 45 | €4,351 | - | -€4,351 | |
| Taxes | 450/3 | €4,351 | - | -€4,351 | |
| Other amounts payable | 47/48 | €22,674 | €3,652 | -€19,022 | -83.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,069 | €1,833 | +€764 | +71.4% |
| Other operating charges | 640/8 | €6,713 | €1,335 | -€5,378 | -80.1% |
| Non-recurring operating charges | 66A | €3,600 | - | -€3,600 | |
| Gross operating margin | 9900 | €1,069,033 | -€16,775 | -€1.1m | |
| Operating profit (loss) | 9901 | €1,057,650 | -€19,944 | -€1.1m | |
| Financial income | 75/76B | €999 | €13,837 | +€12,838 | +1285.4% |
| Recurring financial income | 75 | €999 | €13,837 | +€12,838 | +1285.4% |
| Financial charges | 65/66B | €3,960 | €132 | -€3,828 | -96.7% |
| Recurring financial charges | 65 | €3,960 | €132 | -€3,828 | -96.7% |
| Profit (loss) for the period before taxes | 9903 | €1,054,688 | -€6,239 | -€1.1m | |
| Transfer to deferred taxes | 680 | €257,611 | - | -€257,611 | |
| Income taxes | 67/77 | €6,531 | €13 | -€6,518 | -99.8% |
| Profit (loss) for the period | 9904 | €790,546 | -€6,252 | -€796,798 | |
| Transfer to tax-exempt reserves | 689 | €772,832 | - | -€772,832 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,714 | -€6,252 | -€23,965 |
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 1 October 2026 via checked.be.