Bourgade: 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.
Bourgade
Largest movements
- Tangible fixed assets -€68,542
down €68,542 (-2.2%), from €3.1m to €3.0m
of which Land and buildings: -€47,322
- Cash -€43,660
down €43,660 (-98.4%), from €44,384 to €724
mainly Net result for the year (-€165,449) and Investment in fixed assets (net) (-€134,408)
- Debts after one year +€224,749
up €224,749 (+15.3%), from €1.5m to €1.7m
- Profit (loss) carried forward -€165,449
down €165,449 (-1,976%), from -€8,371 to -€173,821
- Short-term financial debts -€65,271
down €65,271 (-100%), from €65,271 to €0
- Current portion of long-term debt -€53,035
down €53,035 (-25.8%), from €205,290 to €152,255
- Gross operating margin -€438,403
down €438,403 (-77.3%), from €566,905 to €128,502
- Depreciation -€117,828
down €117,828 (-36.7%), from €320,778 to €202,951
- Taxes -€70,903
down €70,903 (-94.2%), from €75,264 to €4,361
- Financial charges -€52,654
down €52,654 (-42.4%), from €124,170 to €71,516
- Other operating charges -€20,365
down €20,365 (-58.2%), from €34,980 to €14,616
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 | €3,395,855 | €3,312,050 | -€83,805 | -2.5% |
| Fixed assets | 21/28 | €3,071,758 | €3,003,215 | -€68,542 | -2.2% |
| Tangible fixed assets | 22/27 | €3,071,533 | €3,002,990 | -€68,542 | -2.2% |
| Land and buildings | 22 | €2,937,936 | €2,890,614 | -€47,322 | -1.6% |
| Plant, machinery and equipment | 23 | €25,520 | €22,660 | -€2,860 | -11.2% |
| Furniture and vehicles | 24 | €108,077 | €89,717 | -€18,360 | -17.0% |
| Financial fixed assets | 28 | €225 | €225 | = | 0.0% |
| Current assets | 29/58 | €324,097 | €308,834 | -€15,262 | -4.7% |
| Amounts receivable within one year | 40/41 | €273,941 | €304,191 | +€30,250 | +11.0% |
| Trade receivables | 40 | €108,359 | €138,609 | +€30,250 | +27.9% |
| Other amounts receivable | 41 | €165,582 | €165,582 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €44,384 | €724 | -€43,660 | -98.4% |
| Deferred charges and accrued income | 490/1 | €5,772 | €3,919 | -€1,853 | -32.1% |
| Total equity and liabilities | 10/49 | €3,395,855 | €3,312,050 | -€83,805 | -2.5% |
| Equity | 10/15 | €826,808 | €661,359 | -€165,449 | -20.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €828,980 | €828,980 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €13,682 | €13,682 | = | 0.0% |
| Distributable reserves | 133 | €815,297 | €815,297 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,371 | -€173,821 | -€165,449 | -1,976% |
| Amounts payable | 17/49 | €2,569,046 | €2,650,691 | +€81,645 | +3.2% |
| Amounts payable after more than one year | 17 | €1,467,464 | €1,692,213 | +€224,749 | +15.3% |
| Financial debts | 170/4 | €1,467,464 | €1,692,213 | +€224,749 | +15.3% |
| Amounts payable within one year | 42/48 | €1,074,083 | €920,375 | -€153,708 | -14.3% |
| Current portion of amounts payable after more than one year | 42 | €205,290 | €152,255 | -€53,035 | -25.8% |
| Financial debts | 43 | €65,271 | €0 | -€65,271 | -100% |
| Credit institutions | 430/8 | €65,271 | €0 | -€65,271 | -100% |
| Trade debts | 44 | €34,477 | €34,003 | -€474 | -1.4% |
| Suppliers | 440/4 | €34,477 | €34,003 | -€474 | -1.4% |
| Taxes, remuneration and social security | 45 | €24,358 | €7,615 | -€16,743 | -68.7% |
| Taxes | 450/3 | €24,358 | €7,615 | -€16,743 | -68.7% |
| Other amounts payable | 47/48 | €744,687 | €726,502 | -€18,185 | -2.4% |
| Accrued charges and deferred income | 492/3 | €27,500 | €38,103 | +€10,603 | +38.6% |
| Non-recurring operating income | 76A | - | €11,983 | +€11,983 | |
| Remuneration, social security and pensions | 62 | €11,555 | €509 | -€11,047 | -95.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €320,778 | €202,951 | -€117,828 | -36.7% |
| Other operating charges | 640/8 | €34,980 | €14,616 | -€20,365 | -58.2% |
| Non-recurring operating charges | 66A | €8,528 | €0 | -€8,528 | -100% |
| Gross operating margin | 9900 | €566,905 | €128,502 | -€438,403 | -77.3% |
| Operating profit (loss) | 9901 | €191,063 | -€89,573 | -€280,635 | |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €124,170 | €71,516 | -€52,654 | -42.4% |
| Recurring financial charges | 65 | €124,170 | €71,516 | -€52,654 | -42.4% |
| Profit (loss) for the period before taxes | 9903 | €66,893 | -€161,089 | -€227,982 | |
| Income taxes | 67/77 | €75,264 | €4,361 | -€70,903 | -94.2% |
| Profit (loss) for the period | 9904 | -€8,371 | -€165,449 | -€157,078 | -1,876% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,371 | -€165,449 | -€157,078 | -1,876% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.