Cyriac Borloo: 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.
Cyriac Borloo
Largest movements
- Current investments +€43,999
up €43,999 (+64.3%), from €68,443 to €112,442
- Receivables within one year +€25,414
up €25,414 (+268.5%), from €9,466 to €34,880
of which Trade receivables: +€26,638
- Tangible fixed assets -€13,161
down €13,161 (-27.0%), from €48,756 to €35,595
of which Furniture and vehicles: -€11,710
- Cash -€3,867
down €3,867 (-18.3%), from €21,125 to €17,257
mainly Current investments (-€43,999) and Receivables within one year (-€25,414)
- Reserves +€48,946
up €48,946 (+50.4%), from €97,128 to €146,074
- Debts after one year -€13,325
down €13,325 (-47.4%), from €28,105 to €14,780
- Advances received +€11,921
up €11,921 (+5464.8%), from €218 to €12,140
- Trade debts +€2,508
up €2,508 (+176.5%), from €1,421 to €3,929
- Gross operating margin +€10,291
up €10,291 (+13.8%), from €74,598 to €84,889
- Taxes +€3,489
up €3,489 (+21.4%), from €16,271 to €19,761
- Financial income +€1,942
up €1,942 (+433.1%), from €448 to €2,390
- Depreciation +€1,341
up €1,341 (+8.4%), from €15,880 to €17,221
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 | €149,040 | €200,174 | +€51,134 | +34.3% |
| Fixed assets | 21/28 | €48,756 | €35,595 | -€13,161 | -27.0% |
| Tangible fixed assets | 22/27 | €48,756 | €35,595 | -€13,161 | -27.0% |
| Plant, machinery and equipment | 23 | €5,311 | €3,860 | -€1,451 | -27.3% |
| Furniture and vehicles | 24 | €43,445 | €31,735 | -€11,710 | -27.0% |
| Current assets | 29/58 | €100,284 | €164,579 | +€64,295 | +64.1% |
| Amounts receivable within one year | 40/41 | €9,466 | €34,880 | +€25,414 | +268.5% |
| Trade receivables | 40 | €7,833 | €34,472 | +€26,638 | +340.1% |
| Other amounts receivable | 41 | €1,633 | €408 | -€1,225 | -75.0% |
| Current investments | 50/53 | €68,443 | €112,442 | +€43,999 | +64.3% |
| Cash at bank and in hand | 54/58 | €21,125 | €17,257 | -€3,867 | -18.3% |
| Deferred charges and accrued income | 490/1 | €1,250 | - | -€1,250 | |
| Total equity and liabilities | 10/49 | €149,040 | €200,174 | +€51,134 | +34.3% |
| Equity | 10/15 | €98,128 | €147,074 | +€48,946 | +49.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €97,128 | €146,074 | +€48,946 | +50.4% |
| Distributable reserves | 133 | €97,128 | €146,074 | +€48,946 | +50.4% |
| Amounts payable | 17/49 | €50,912 | €53,100 | +€2,188 | +4.3% |
| Amounts payable after more than one year | 17 | €28,105 | €14,780 | -€13,325 | -47.4% |
| Financial debts | 170/4 | €28,105 | €14,780 | -€13,325 | -47.4% |
| Amounts payable within one year | 42/48 | €22,807 | €37,168 | +€14,361 | +63.0% |
| Current portion of amounts payable after more than one year | 42 | €13,026 | €13,325 | +€298 | +2.3% |
| Trade debts | 44 | €1,421 | €3,929 | +€2,508 | +176.5% |
| Suppliers | 440/4 | €1,421 | €3,929 | +€2,508 | +176.5% |
| Advances received on contracts in progress | 46 | €218 | €12,140 | +€11,921 | +5464.8% |
| Taxes, remuneration and social security | 45 | €8,141 | €7,147 | -€994 | -12.2% |
| Taxes | 450/3 | €8,141 | €7,147 | -€994 | -12.2% |
| Other amounts payable | 47/48 | - | €627 | +€627 | |
| Accrued charges and deferred income | 492/3 | - | €1,152 | +€1,152 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,880 | €17,221 | +€1,341 | +8.4% |
| Other operating charges | 640/8 | €499 | €513 | +€14 | +2.8% |
| Gross operating margin | 9900 | €74,598 | €84,889 | +€10,291 | +13.8% |
| Operating profit (loss) | 9901 | €58,218 | €67,154 | +€8,936 | +15.3% |
| Financial income | 75/76B | €448 | €2,390 | +€1,942 | +433.1% |
| Recurring financial income | 75 | €448 | €2,390 | +€1,942 | +433.1% |
| Financial charges | 65/66B | €1,152 | €838 | -€315 | -27.3% |
| Recurring financial charges | 65 | €1,152 | €838 | -€315 | -27.3% |
| Profit (loss) for the period before taxes | 9903 | €57,514 | €68,706 | +€11,192 | +19.5% |
| Income taxes | 67/77 | €16,271 | €19,761 | +€3,489 | +21.4% |
| Profit (loss) for the period | 9904 | €41,243 | €48,946 | +€7,703 | +18.7% |
| Profit (loss) for the period to be appropriated | 9905 | €41,243 | €48,946 | +€7,703 | +18.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.