Bourgoneur: 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.
Bourgoneur
Largest movements
- Receivables within one year -€64,968
down €64,968 (-81.5%), from €79,689 to €14,721
of which Trade receivables: -€61,621
- Cash +€18,637
up €18,637 (+74.7%), from €24,933 to €43,570
mainly Receivables within one year (+€64,968) and Depreciation (+€64,374)
- Stocks and contracts +€12,981
up €12,981 (+88.9%), from €14,594 to €27,575
of which Contracts in progress: +€7,000
- Intangible fixed assets -€11,563
down €11,563 (-10.5%), from €110,062 to €98,499
- Tangible fixed assets +€11,060
up €11,060 (+10.9%), from €101,035 to €112,094
of which Furniture and vehicles: +€16,583
- Debts after one year -€36,945
down €36,945 (-17.7%), from €208,770 to €171,825
- Trade debts -€22,205
down €22,205 (-49.6%), from €44,791 to €22,586
- Profit (loss) carried forward +€13,173
up €13,173 (+159.2%), from €8,276 to €21,449
- Current portion of long-term debt +€11,289
up €11,289 (+29.5%), from €38,316 to €49,604
- Gross operating margin +€19,958
up €19,958 (+24.9%), from €80,218 to €100,176
- Depreciation +€9,123
up €9,123 (+16.5%), from €55,250 to €64,374
- Write-downs +€5,919
new in 2025: €5,919
- Financial charges -€2,432
down €2,432 (-17.6%), from €13,794 to €11,362
- Taxes +€1,507
up €1,507 (+58.8%), from €2,561 to €4,068
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 | €331,613 | €298,751 | -€32,862 | -9.9% |
| Fixed assets | 21/28 | €211,097 | €210,594 | -€503 | -0.2% |
| Intangible fixed assets | 21 | €110,062 | €98,499 | -€11,563 | -10.5% |
| Tangible fixed assets | 22/27 | €101,035 | €112,094 | +€11,060 | +10.9% |
| Plant, machinery and equipment | 23 | €47,767 | €42,244 | -€5,523 | -11.6% |
| Furniture and vehicles | 24 | €53,267 | €69,850 | +€16,583 | +31.1% |
| Current assets | 29/58 | €120,516 | €88,158 | -€32,359 | -26.9% |
| Stocks and contracts in progress | 3 | €14,594 | €27,575 | +€12,981 | +88.9% |
| Stocks | 30/36 | €14,594 | €20,575 | +€5,981 | +41.0% |
| Contracts in progress | 37 | - | €7,000 | +€7,000 | |
| Amounts receivable within one year | 40/41 | €79,689 | €14,721 | -€64,968 | -81.5% |
| Trade receivables | 40 | €76,165 | €14,544 | -€61,621 | -80.9% |
| Other amounts receivable | 41 | €3,524 | €177 | -€3,347 | -95.0% |
| Cash at bank and in hand | 54/58 | €24,933 | €43,570 | +€18,637 | +74.7% |
| Deferred charges and accrued income | 490/1 | €1,299 | €2,292 | +€992 | +76.4% |
| Total equity and liabilities | 10/49 | €331,613 | €298,751 | -€32,862 | -9.9% |
| Equity | 10/15 | €23,276 | €36,449 | +€13,173 | +56.6% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,276 | €21,449 | +€13,173 | +159.2% |
| Amounts payable | 17/49 | €308,337 | €262,302 | -€46,035 | -14.9% |
| Amounts payable after more than one year | 17 | €208,770 | €171,825 | -€36,945 | -17.7% |
| Financial debts | 170/4 | €208,770 | €171,825 | -€36,945 | -17.7% |
| Amounts payable within one year | 42/48 | €95,485 | €86,145 | -€9,339 | -9.8% |
| Current portion of amounts payable after more than one year | 42 | €38,316 | €49,604 | +€11,289 | +29.5% |
| Trade debts | 44 | €44,791 | €22,586 | -€22,205 | -49.6% |
| Suppliers | 440/4 | €44,791 | €22,586 | -€22,205 | -49.6% |
| Taxes, remuneration and social security | 45 | €2,561 | €5,036 | +€2,475 | +96.6% |
| Taxes | 450/3 | €2,561 | €5,036 | +€2,475 | +96.6% |
| Other amounts payable | 47/48 | €9,816 | €8,919 | -€897 | -9.1% |
| Accrued charges and deferred income | 492/3 | €4,082 | €4,331 | +€249 | +6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,250 | €64,374 | +€9,123 | +16.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €5,919 | +€5,919 | |
| Other operating charges | 640/8 | €363 | €769 | +€406 | +111.9% |
| Non-recurring operating charges | 66A | - | €516 | +€516 | |
| Gross operating margin | 9900 | €80,218 | €100,176 | +€19,958 | +24.9% |
| Operating profit (loss) | 9901 | €24,605 | €28,599 | +€3,994 | +16.2% |
| Financial income | 75/76B | €27 | €5 | -€22 | -82.1% |
| Recurring financial income | 75 | €27 | €5 | -€22 | -82.1% |
| Financial charges | 65/66B | €13,794 | €11,362 | -€2,432 | -17.6% |
| Recurring financial charges | 65 | €13,794 | €11,362 | -€2,432 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | €10,837 | €17,241 | +€6,404 | +59.1% |
| Income taxes | 67/77 | €2,561 | €4,068 | +€1,507 | +58.8% |
| Profit (loss) for the period | 9904 | €8,276 | €13,173 | +€4,897 | +59.2% |
| Profit (loss) for the period to be appropriated | 9905 | €8,276 | €13,173 | +€4,897 | +59.2% |
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 8 October 2026 via checked.be.