Bourda: 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.
Bourda
Largest movements
- Cash +€13,876
up €13,876 (+125.0%), from €11,101 to €24,977
mainly Net result for the year (+€64,782) and Tax, wage and social debts (+€9,794)
- Receivables within one year +€12,487
up €12,487 (+614.3%), from €2,033 to €14,520
- Intangible fixed assets -€6,185
down €6,185 (-43.4%), from €14,245 to €8,060
- Tangible fixed assets +€2,305
new in 2025: €2,305
- Stocks and contracts -€1,162
down €1,162 (-50.0%), from €2,325 to €1,162
- Reserves +€34,000
new in 2025: €34,000
- Profit (loss) carried forward +€30,782
up €30,782, from -€30,031 to €751
- Other debts -€20,308
no longer reported in 2025 (was €20,308)
- Debts after one year -€17,663
no longer reported in 2025 (was €17,663)
- Current portion of long-term debt -€12,424
no longer reported in 2025 (was €12,424)
- Gross operating margin +€76,892
up €76,892 (+635.0%), from €12,109 to €89,001
- Taxes +€16,644
new in 2025: €16,644
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €29,978 | €51,304 | +€21,326 | +71.1% |
| Fixed assets | 21/28 | €14,245 | €10,365 | -€3,879 | -27.2% |
| Intangible fixed assets | 21 | €14,245 | €8,060 | -€6,185 | -43.4% |
| Tangible fixed assets | 22/27 | - | €2,305 | +€2,305 | |
| Furniture and vehicles | 24 | - | €2,305 | +€2,305 | |
| Current assets | 29/58 | €15,733 | €40,939 | +€25,205 | +160.2% |
| Stocks and contracts in progress | 3 | €2,325 | €1,162 | -€1,162 | -50.0% |
| Stocks | 30/36 | €2,325 | €1,162 | -€1,162 | -50.0% |
| Amounts receivable within one year | 40/41 | €2,033 | €14,520 | +€12,487 | +614.3% |
| Trade receivables | 40 | €2,033 | €14,520 | +€12,487 | +614.3% |
| Cash at bank and in hand | 54/58 | €11,101 | €24,977 | +€13,876 | +125.0% |
| Deferred charges and accrued income | 490/1 | €275 | €280 | +€4 | +1.6% |
| Total equity and liabilities | 10/49 | €29,978 | €51,304 | +€21,326 | +71.1% |
| Equity | 10/15 | -€25,031 | €39,751 | +€64,782 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €34,000 | +€34,000 | |
| Distributable reserves | 133 | - | €34,000 | +€34,000 | |
| Profit (loss) carried forward | 14 | -€30,031 | €751 | +€30,782 | |
| Amounts payable | 17/49 | €55,009 | €11,553 | -€43,456 | -79.0% |
| Amounts payable after more than one year | 17 | €17,663 | - | -€17,663 | |
| Financial debts | 170/4 | €17,663 | - | -€17,663 | |
| Amounts payable within one year | 42/48 | €37,346 | €11,553 | -€25,793 | -69.1% |
| Current portion of amounts payable after more than one year | 42 | €12,424 | - | -€12,424 | |
| Trade debts | 44 | €2,855 | - | -€2,855 | |
| Suppliers | 440/4 | €2,855 | - | -€2,855 | |
| Taxes, remuneration and social security | 45 | €1,759 | €11,553 | +€9,794 | +556.8% |
| Taxes | 450/3 | €1,759 | €11,553 | +€9,794 | +556.8% |
| Other amounts payable | 47/48 | €20,308 | - | -€20,308 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,865 | €6,394 | -€470 | -6.9% |
| Other operating charges | 640/8 | €628 | €644 | +€16 | +2.5% |
| Gross operating margin | 9900 | €12,109 | €89,001 | +€76,892 | +635.0% |
| Operating profit (loss) | 9901 | €4,617 | €81,963 | +€77,346 | +1675.2% |
| Financial charges | 65/66B | €566 | €537 | -€30 | -5.3% |
| Recurring financial charges | 65 | €566 | €537 | -€30 | -5.3% |
| Profit (loss) for the period before taxes | 9903 | €4,051 | €81,426 | +€77,376 | +1910.2% |
| Income taxes | 67/77 | - | €16,644 | +€16,644 | |
| Profit (loss) for the period | 9904 | €4,051 | €64,782 | +€60,732 | +1499.3% |
| Profit (loss) for the period to be appropriated | 9905 | €4,051 | €64,782 | +€60,732 | +1499.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.