BOURLA: 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.
BOURLA
Largest movements
- Current investments -€500,000
down €500,000 (-100%), from €500,000 to €0
- Cash +€268,578
up €268,578 (+61.5%), from €436,539 to €705,117
mainly Net result for the year (+€765,648) and Current investments (+€500,000)
- Tangible fixed assets +€150,688
up €150,688 (+51.1%), from €294,677 to €445,364
of which Furniture and vehicles: +€146,471
- Tax, wage and social debts -€152,096
down €152,096 (-48.4%), from €314,506 to €162,410
of which Remuneration and social security: -€157,206
- Trade debts +€106,615
up €106,615 (+117%), from €91,096 to €197,711
- Profit (loss) carried forward -€34,352
down €34,352 (-4.1%), from €833,638 to €799,286
- Gross operating margin +€360,827
up €360,827 (+13.1%), from €2.8m to €3.1m
- Staff costs +€195,697
up €195,697 (+11.2%), from €1.8m to €1.9m
- Taxes +€33,434
up €33,434 (+14.0%), from €239,054 to €272,488
- Depreciation +€31,529
up €31,529 (+34.9%), from €90,375 to €121,904
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 | €1,346,091 | €1,271,169 | -€74,922 | -5.6% |
| Fixed assets | 21/28 | €294,997 | €445,684 | +€150,688 | +51.1% |
| Tangible fixed assets | 22/27 | €294,677 | €445,364 | +€150,688 | +51.1% |
| Plant, machinery and equipment | 23 | €129,641 | €138,905 | +€9,263 | +7.1% |
| Furniture and vehicles | 24 | €86,323 | €232,794 | +€146,471 | +170% |
| Other tangible fixed assets | 26 | €78,712 | €73,666 | -€5,046 | -6.4% |
| Financial fixed assets | 28 | €320 | €320 | = | 0.0% |
| Current assets | 29/58 | €1,051,095 | €825,484 | -€225,610 | -21.5% |
| Stocks and contracts in progress | 3 | €38,025 | €51,353 | +€13,327 | +35.0% |
| Stocks | 30/36 | €38,025 | €51,353 | +€13,327 | +35.0% |
| Amounts receivable within one year | 40/41 | €47,868 | €38,859 | -€9,010 | -18.8% |
| Trade receivables | 40 | €46,868 | €38,859 | -€8,010 | -17.1% |
| Other amounts receivable | 41 | €1,000 | €0 | -€1,000 | -100% |
| Current investments | 50/53 | €500,000 | €0 | -€500,000 | -100% |
| Cash at bank and in hand | 54/58 | €436,539 | €705,117 | +€268,578 | +61.5% |
| Deferred charges and accrued income | 490/1 | €28,662 | €30,156 | +€1,495 | +5.2% |
| Total equity and liabilities | 10/49 | €1,346,091 | €1,271,169 | -€74,922 | -5.6% |
| Equity | 10/15 | €932,838 | €898,486 | -€34,352 | -3.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €37,200 | €37,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €31,000 | €31,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €833,638 | €799,286 | -€34,352 | -4.1% |
| Amounts payable | 17/49 | €413,253 | €372,683 | -€40,570 | -9.8% |
| Amounts payable within one year | 42/48 | €413,253 | €372,683 | -€40,570 | -9.8% |
| Trade debts | 44 | €91,096 | €197,711 | +€106,615 | +117% |
| Suppliers | 440/4 | €91,096 | €197,711 | +€106,615 | +117% |
| Advances received on contracts in progress | 46 | €5,767 | €9,988 | +€4,221 | +73.2% |
| Taxes, remuneration and social security | 45 | €314,506 | €162,410 | -€152,096 | -48.4% |
| Taxes | 450/3 | €64,098 | €69,208 | +€5,110 | +8.0% |
| Remuneration and social security | 454/9 | €250,407 | €93,201 | -€157,206 | -62.8% |
| Other amounts payable | 47/48 | €1,884 | €2,574 | +€690 | +36.6% |
| Non-recurring operating income | 76A | - | €154 | +€154 | |
| Remuneration, social security and pensions | 62 | €1,754,300 | €1,949,997 | +€195,697 | +11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,375 | €121,904 | +€31,529 | +34.9% |
| Other operating charges | 640/8 | €12,660 | €12,772 | +€113 | +0.9% |
| Non-recurring operating charges | 66A | - | €140 | +€140 | |
| Gross operating margin | 9900 | €2,758,173 | €3,119,000 | +€360,827 | +13.1% |
| Operating profit (loss) | 9901 | €900,838 | €1,034,187 | +€133,348 | +14.8% |
| Financial income | 75/76B | €14,336 | €6,561 | -€7,776 | -54.2% |
| Recurring financial income | 75 | €14,336 | €6,561 | -€7,776 | -54.2% |
| Financial charges | 65/66B | €982 | €2,611 | +€1,629 | +166% |
| Recurring financial charges | 65 | €982 | €2,611 | +€1,629 | +166% |
| Profit (loss) for the period before taxes | 9903 | €914,193 | €1,038,136 | +€123,944 | +13.6% |
| Income taxes | 67/77 | €239,054 | €272,488 | +€33,434 | +14.0% |
| Profit (loss) for the period | 9904 | €675,138 | €765,648 | +€90,509 | +13.4% |
| Profit (loss) for the period to be appropriated | 9905 | €675,138 | €765,648 | +€90,509 | +13.4% |
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.