Borztrans: 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.
Borztrans
Largest movements
- Stocks and contracts +€21,168
up €21,168 (+183%), from €11,546 to €32,714
- Tangible fixed assets -€15,358
down €15,358 (-32.8%), from €46,774 to €31,415
of which Furniture and vehicles: -€12,199
- Receivables within one year +€15,183
up €15,183 (+12.7%), from €119,794 to €134,977
of which Other amounts receivable: +€33,419
- Cash -€5,885
down €5,885 (-88.3%), from €6,664 to €779
mainly Stocks and contracts (-€21,168) and Net result for the year (-€20,061)
- Other debts +€46,477
up €46,477 (+23.0%), from €201,901 to €248,378
- Profit (loss) carried forward -€20,061
down €20,061 (-13.5%), from -€148,884 to -€168,945
- Current portion of long-term debt -€5,708
no longer reported in 2025 (was €5,708)
- Trade debts -€4,754
down €4,754 (-4.4%), from €108,884 to €104,130
- Other operating charges -€44,055
down €44,055 (-73.5%), from €59,927 to €15,872
- Gross operating margin -€16,045
down €16,045 (-56.6%), from €28,370 to €12,324
- Depreciation -€3,967
down €3,967 (-55.7%), from €7,127 to €3,159
- Financial charges -€3,917
down €3,917 (-83.6%), from €4,683 to €767
- Staff costs +€3,038
up €3,038 (+24.5%), from €12,419 to €15,457
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 | €186,344 | €201,160 | +€14,816 | +8.0% |
| Fixed assets | 21/28 | €46,774 | €31,415 | -€15,358 | -32.8% |
| Tangible fixed assets | 22/27 | €46,774 | €31,415 | -€15,358 | -32.8% |
| Land and buildings | 22 | €31,655 | €30,669 | -€986 | -3.1% |
| Plant, machinery and equipment | 23 | €2,920 | €746 | -€2,174 | -74.4% |
| Furniture and vehicles | 24 | €12,199 | - | -€12,199 | |
| Current assets | 29/58 | €139,571 | €169,745 | +€30,174 | +21.6% |
| Stocks and contracts in progress | 3 | €11,546 | €32,714 | +€21,168 | +183% |
| Stocks | 30/36 | €11,546 | €32,714 | +€21,168 | +183% |
| Amounts receivable within one year | 40/41 | €119,794 | €134,977 | +€15,183 | +12.7% |
| Trade receivables | 40 | €74,639 | €56,402 | -€18,237 | -24.4% |
| Other amounts receivable | 41 | €45,155 | €78,575 | +€33,419 | +74.0% |
| Cash at bank and in hand | 54/58 | €6,664 | €779 | -€5,885 | -88.3% |
| Deferred charges and accrued income | 490/1 | €1,567 | €1,275 | -€292 | -18.6% |
| Total equity and liabilities | 10/49 | €186,344 | €201,160 | +€14,816 | +8.0% |
| Equity | 10/15 | -€132,059 | -€152,120 | -€20,061 | -15.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €15,825 | €15,825 | = | 0.0% |
| Distributable reserves | 133 | €15,825 | €15,825 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€148,884 | -€168,945 | -€20,061 | -13.5% |
| Amounts payable | 17/49 | €318,403 | €353,280 | +€34,877 | +11.0% |
| Amounts payable within one year | 42/48 | €318,403 | €353,280 | +€34,877 | +11.0% |
| Current portion of amounts payable after more than one year | 42 | €5,708 | - | -€5,708 | |
| Trade debts | 44 | €108,884 | €104,130 | -€4,754 | -4.4% |
| Suppliers | 440/4 | €108,884 | €104,130 | -€4,754 | -4.4% |
| Taxes, remuneration and social security | 45 | €1,909 | €771 | -€1,138 | -59.6% |
| Taxes | 450/3 | €1,621 | €771 | -€850 | -52.4% |
| Remuneration and social security | 454/9 | €288 | - | -€288 | |
| Other amounts payable | 47/48 | €201,901 | €248,378 | +€46,477 | +23.0% |
| Non-recurring operating income | 76A | - | €6,554 | +€6,554 | |
| Remuneration, social security and pensions | 62 | €12,419 | €15,457 | +€3,038 | +24.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,127 | €3,159 | -€3,967 | -55.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €600 | - | -€600 | |
| Other operating charges | 640/8 | €59,927 | €15,872 | -€44,055 | -73.5% |
| Gross operating margin | 9900 | €28,370 | €12,324 | -€16,045 | -56.6% |
| Operating profit (loss) | 9901 | -€51,703 | -€22,164 | +€29,538 | +57.1% |
| Financial income | 75/76B | €463 | €2,882 | +€2,418 | +522% |
| Recurring financial income | 75 | €463 | €2,882 | +€2,418 | +522% |
| Financial charges | 65/66B | €4,683 | €767 | -€3,917 | -83.6% |
| Recurring financial charges | 65 | €4,683 | €767 | -€3,917 | -83.6% |
| Profit (loss) for the period before taxes | 9903 | -€55,923 | -€20,049 | +€35,873 | +64.1% |
| Income taxes | 67/77 | €80 | €12 | -€69 | -85.7% |
| Profit (loss) for the period | 9904 | -€56,003 | -€20,061 | +€35,942 | +64.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€56,003 | -€20,061 | +€35,942 | +64.2% |
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 17 October 2026 via checked.be.