CABINET DR. BORGIES: what changed
CABINET DR. BORGIES
Largest movements
- Tangible fixed assets -€20,744
down €20,744 (-6.9%), from €299,374 to €278,630
- Cash -€6,265
down €6,265 (-95.9%), from €6,533 to €268
mainly Net result for the year (-€27,405) and Current portion of long-term debt (-€21,072)
- Profit (loss) carried forward -€27,405
down €27,405 (-17.7%), from €155,073 to €127,669
- Current portion of long-term debt -€21,072
no longer reported in 2025 (was €21,072)
- Other debts +€20,866
up €20,866 (+98.4%), from €21,200 to €42,066
- Gross operating margin -€30,582
down €30,582, from €24,539 to -€6,044
- Staff costs -€5,074
no longer reported in 2025 (was €5,074)
- Financial charges -€3,777
down €3,777 (-85.9%), from €4,395 to €618
of which Non-recurring financial charges: -€2,532
- Other operating charges -€1,192
no longer reported in 2025 (was €1,192)
- Taxes -€930
no longer reported in 2025 (was €930)
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €307,139 | €278,943 | -€28,195 | -9.2% |
| Fixed assets | 21/28 | €299,374 | €278,630 | -€20,744 | -6.9% |
| Tangible fixed assets | 22/27 | €299,374 | €278,630 | -€20,744 | -6.9% |
| Land and buildings | 22 | €299,374 | €278,630 | -€20,744 | -6.9% |
| Current assets | 29/58 | €7,765 | €314 | -€7,452 | -96.0% |
| Amounts receivable within one year | 40/41 | €1,233 | - | -€1,233 | |
| Trade receivables | 40 | €1,233 | - | -€1,233 | |
| Cash at bank and in hand | 54/58 | €6,533 | €268 | -€6,265 | -95.9% |
| Deferred charges and accrued income | 490/1 | - | €46 | +€46 | |
| Total equity and liabilities | 10/49 | €307,139 | €278,943 | -€28,195 | -9.2% |
| Equity | 10/15 | €263,833 | €236,429 | -€27,405 | -10.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €102,560 | €102,560 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €100,700 | €100,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | €155,073 | €127,669 | -€27,405 | -17.7% |
| Amounts payable | 17/49 | €43,306 | €42,515 | -€791 | -1.8% |
| Amounts payable within one year | 42/48 | €43,306 | €42,515 | -€791 | -1.8% |
| Current portion of amounts payable after more than one year | 42 | €21,072 | - | -€21,072 | |
| Trade debts | 44 | - | €449 | +€449 | |
| Suppliers | 440/4 | - | €449 | +€449 | |
| Taxes, remuneration and social security | 45 | €1,034 | - | -€1,034 | |
| Taxes | 450/3 | €1,034 | - | -€1,034 | |
| Other amounts payable | 47/48 | €21,200 | €42,066 | +€20,866 | +98.4% |
| Remuneration, social security and pensions | 62 | €5,074 | - | -€5,074 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,179 | €20,744 | -€436 | -2.1% |
| Other operating charges | 640/8 | €1,192 | - | -€1,192 | |
| Gross operating margin | 9900 | €24,539 | -€6,044 | -€30,582 | |
| Operating profit (loss) | 9901 | -€2,906 | -€26,787 | -€23,881 | -822% |
| Financial income | 75/76B | €383 | - | -€383 | |
| Recurring financial income | 75 | €383 | - | -€383 | |
| Financial charges | 65/66B | €4,395 | €618 | -€3,777 | -85.9% |
| Recurring financial charges | 65 | €1,863 | €618 | -€1,246 | -66.8% |
| Non-recurring financial charges | 66B | €2,532 | - | -€2,532 | |
| Profit (loss) for the period before taxes | 9903 | -€6,918 | -€27,405 | -€20,486 | -296% |
| Income taxes | 67/77 | €930 | - | -€930 | |
| Profit (loss) for the period | 9904 | -€7,848 | -€27,405 | -€19,557 | -249% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,848 | -€27,405 | -€19,557 | -249% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.