BOURGAUX: 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.
BOURGAUX
Largest movements
- Receivables within one year +€23,707
up €23,707 (+107.2%), from €22,124 to €45,832
of which Other amounts receivable: +€23,707
- Profit (loss) carried forward +€12,907
up €12,907 (+215.0%), from €6,002 to €18,909
- Tax, wage and social debts +€8,107
up €8,107 (+412.0%), from €1,968 to €10,075
- Current portion of long-term debt +€1,356
up €1,356 (+29.2%), from €4,644 to €6,000
- Short-term financial debts +€1,123
up €1,123 (+82.0%), from €1,369 to €2,492
- Gross operating margin +€26,880
up €26,880, from -€1,323 to €25,557
- Taxes +€7,009
up €7,009 (+1353.6%), from €518 to €7,526
- Financial charges +€1,494
up €1,494 (+54.4%), from €2,746 to €4,240
- Other operating charges -€491
down €491 (-41.4%), from €1,187 to €696
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €22,580 | €45,860 | +€23,280 | +103.1% |
| Fixed assets | 21/28 | €191 | €0 | -€191 | -100.0% |
| Tangible fixed assets | 22/27 | €191 | €0 | -€191 | -100.0% |
| Plant, machinery and equipment | 23 | €36 | €0 | -€36 | -100.0% |
| Furniture and vehicles | 24 | €156 | €0 | -€156 | -100.0% |
| Current assets | 29/58 | €22,388 | €45,860 | +€23,471 | +104.8% |
| Amounts receivable within one year | 40/41 | €22,124 | €45,832 | +€23,707 | +107.2% |
| Trade receivables | 40 | €300 | €300 | = | 0.0% |
| Other amounts receivable | 41 | €21,824 | €45,532 | +€23,707 | +108.6% |
| Deferred charges and accrued income | 490/1 | €264 | €28 | -€236 | -89.4% |
| Total equity and liabilities | 10/49 | €22,580 | €45,860 | +€23,280 | +103.1% |
| Equity | 10/15 | €12,238 | €25,145 | +€12,907 | +105.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €36 | €36 | = | 0.0% |
| Non-distributable reserves | 130/1 | €36 | €36 | = | 0.0% |
| Reserves not available under the articles | 1311 | €36 | €36 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,002 | €18,909 | +€12,907 | +215.0% |
| Amounts payable | 17/49 | €10,342 | €20,715 | +€10,373 | +100.3% |
| Amounts payable after more than one year | 17 | €1,161 | €1,000 | -€161 | -13.9% |
| Financial debts | 170/4 | €1,161 | €1,000 | -€161 | -13.9% |
| Amounts payable within one year | 42/48 | €9,181 | €19,715 | +€10,534 | +114.7% |
| Current portion of amounts payable after more than one year | 42 | €4,644 | €6,000 | +€1,356 | +29.2% |
| Financial debts | 43 | €1,369 | €2,492 | +€1,123 | +82.0% |
| Credit institutions | 430/8 | €1,369 | €2,492 | +€1,123 | +82.0% |
| Trade debts | 44 | €836 | €785 | -€51 | -6.2% |
| Suppliers | 440/4 | €836 | €785 | -€51 | -6.2% |
| Advances received on contracts in progress | 46 | €363 | €363 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €1,968 | €10,075 | +€8,107 | +412.0% |
| Taxes | 450/3 | €1,968 | €10,075 | +€8,107 | +412.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €411 | €191 | -€220 | -53.4% |
| Other operating charges | 640/8 | €1,187 | €696 | -€491 | -41.4% |
| Gross operating margin | 9900 | -€1,323 | €25,557 | +€26,880 | |
| Operating profit (loss) | 9901 | -€2,921 | €24,670 | +€27,591 | |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €2,746 | €4,240 | +€1,494 | +54.4% |
| Recurring financial charges | 65 | €2,746 | €4,240 | +€1,494 | +54.4% |
| Profit (loss) for the period before taxes | 9903 | -€5,667 | €20,433 | +€26,100 | |
| Income taxes | 67/77 | €518 | €7,526 | +€7,009 | +1353.6% |
| Profit (loss) for the period | 9904 | -€6,185 | €12,907 | +€19,092 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,185 | €12,907 | +€19,092 |
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 9 October 2026 via checked.be.