DE BORNE: 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.
What changed
DE BORNE
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€742,859
2024 · -€845,232+€1.6m
Equity
€10.3m
2024 · €9.6m+€742,859
Cash
€376,384
2024 · €2.5m-€2.2m
Balance sheet total
€15.3m
2024 · €15.6m-€253,703
Largest movements
Assets
- Cash -€2.2m
down €2.2m (-85.1%), from €2.5m to €376,384
mainly Receivables within one year (-€1.9m) and Other debts (-€1.2m)
- Receivables within one year +€1.9m
up €1.9m (+262%), from €707,032 to €2.6m
of which Trade receivables: +€1.0m
- Intangible fixed assets -€223,691
down €223,691 (-38.9%), from €574,512 to €350,821
- Financial fixed assets +€220,000
up €220,000 (+1.9%), from €11.8m to €12.0m
Equity and liabilities
- Other debts -€1.2m
down €1.2m (-25.7%), from €4.6m to €3.4m
- Profit (loss) carried forward +€742,859
up €742,859 (+51.4%), from -€1.4m to -€703,153
- Tax, wage and social debts +€202,865
up €202,865 (+168%), from €120,701 to €323,566
of which Taxes: +€203,873
- Trade debts -€185,826
down €185,826 (-36.1%), from €514,871 to €329,045
Income statement
- Other operating income +€1.1m
up €1.1m (+390%), from €289,332 to €1.4m
- Financial charges -€1.1m
down €1.1m (-97.0%), from €1.1m to €32,659
of which Non-recurring financial charges: -€983,005
- Financial income -€237,240
down €237,240 (-99.0%), from €239,640 to €2,400
of which Non-recurring financial income: -€231,469
- Taxes +€230,801
up €230,801 (+11,381%), from €2,028 to €232,829
- Turnover -€105,582
down €105,582 (-5.5%), from €1.9m to €1.8m
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.
Result 2024
-€845,232
Turnover
-€105,582
Other operating income
+€1.1m
Services and other goods
-€40,071
Staff costs
+€3,112
Depreciation
+€17
Other operating charges
+€9,702
Other operating items
+€95
Financial income
-€237,240
Financial charges
+€1.1m
Taxes
-€230,801
Result 2025
€742,859
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€2.0m
Investment
-€299,595
Financing
+€147,388
Cash 2024
€2.5m
From operations (derived)
-€2.0m
Net result for the year
+€742,859
Depreciation
+€255,069
Receivables within one year
-€1.9m
Deferred charges and accrued income
-€3,402
Trade debts
-€185,826
Tax, wage and social debts
+€202,865
Other debts
-€1.2m
Accrued charges and deferred income
+€6,958
Investment (derived)
-€299,595
Investment in fixed assets (net)
-€299,595
Financing
+€147,388
Debts after one year
+€101,628
Current portion of long-term debt
+€45,759
Short-term financial debts
+€0
Contributions, distributions and other
+€0
Cash 2025
€376,384
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,601,161 | €15,347,458 | -€253,703 | -1.6% |
| Fixed assets | 21/28 | €12,342,558 | €12,387,084 | +€44,526 | +0.4% |
| Intangible fixed assets | 21 | €574,512 | €350,821 | -€223,691 | -38.9% |
| Tangible fixed assets | 22/27 | €10,422 | €58,639 | +€48,217 | +463% |
| Furniture and vehicles | 24 | €10,422 | €58,639 | +€48,217 | +463% |
| Financial fixed assets | 28 | €11,757,624 | €11,977,624 | +€220,000 | +1.9% |
| Affiliated companies | 280/1 | €11,757,624 | €11,977,624 | +€220,000 | +1.9% |
| Participating interests | 280 | €11,680,863 | €11,900,863 | +€220,000 | +1.9% |
| Amounts receivable | 281 | €76,761 | €76,761 | +€0 | 0.0% |
| Current assets | 29/58 | €3,258,603 | €2,960,374 | -€298,229 | -9.2% |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €707,032 | €2,559,700 | +€1.9m | +262% |
| Trade receivables | 40 | €462,232 | €1,484,901 | +€1.0m | +221% |
| Other amounts receivable | 41 | €244,800 | €1,074,800 | +€830,000 | +339% |
| Cash at bank and in hand | 54/58 | €2,530,683 | €376,384 | -€2.2m | -85.1% |
| Deferred charges and accrued income | 490/1 | €20,888 | €24,290 | +€3,402 | +16.3% |
| Total equity and liabilities | 10/49 | €15,601,161 | €15,347,458 | -€253,703 | -1.6% |
| Equity | 10/15 | €9,574,941 | €10,317,800 | +€742,859 | +7.8% |
| Contributions | 10/11 | €5,993,000 | €5,993,000 | = | 0.0% |
| Capital | 10 | €5,993,000 | €5,993,000 | = | 0.0% |
| Issued capital | 100 | €5,993,000 | €5,993,000 | = | 0.0% |
| Reserves | 13 | €5,027,953 | €5,027,953 | -€0 | 0.0% |
| Non-distributable reserves | 130/1 | €286,119 | €286,119 | +€0 | 0.0% |
| Legal reserve | 130 | €286,119 | €286,119 | +€0 | 0.0% |
| Tax-exempt reserves | 132 | €115,559 | €115,559 | -€0 | 0.0% |
| Distributable reserves | 133 | €4,626,275 | €4,626,275 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | -€1,446,012 | -€703,153 | +€742,859 | +51.4% |
| Amounts payable | 17/49 | €6,026,220 | €5,029,658 | -€996,562 | -16.5% |
| Amounts payable after more than one year | 17 | €584,883 | €686,511 | +€101,628 | +17.4% |
| Financial debts | 170/4 | €584,883 | €686,511 | +€101,628 | +17.4% |
| Credit institutions | 173 | €584,883 | €686,511 | +€101,628 | +17.4% |
| Amounts payable within one year | 42/48 | €5,441,337 | €4,336,189 | -€1.1m | -20.3% |
| Current portion of amounts payable after more than one year | 42 | €230,274 | €276,033 | +€45,759 | +19.9% |
| Financial debts | 43 | €24,981 | €24,981 | +€0 | 0.0% |
| Credit institutions | 430/8 | €24,981 | €24,981 | +€0 | 0.0% |
| Trade debts | 44 | €514,871 | €329,045 | -€185,826 | -36.1% |
| Suppliers | 440/4 | €514,871 | €329,045 | -€185,826 | -36.1% |
| Taxes, remuneration and social security | 45 | €120,701 | €323,566 | +€202,865 | +168% |
| Taxes | 450/3 | €73,367 | €277,240 | +€203,873 | +278% |
| Remuneration and social security | 454/9 | €47,334 | €46,325 | -€1,009 | -2.1% |
| Other amounts payable | 47/48 | €4,550,510 | €3,382,564 | -€1.2m | -25.7% |
| Accrued charges and deferred income | 492/3 | - | €6,958 | +€6,958 | |
| Operating income | 70/76A | €2,205,849 | €3,229,266 | +€1.0m | +46.4% |
| Turnover | 70 | €1,916,517 | €1,810,935 | -€105,582 | -5.5% |
| Other operating income | 74 | €289,332 | €1,418,331 | +€1.1m | +390% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Operating charges | 60/66A | €2,196,174 | €2,223,320 | +€27,146 | +1.2% |
| Goods for resale, raw materials and consumables | 60 | €0 | - | = | |
| Purchases | 600/8 | €0 | - | = | |
| Services and other goods | 61 | €1,317,665 | €1,357,736 | +€40,071 | +3.0% |
| Remuneration, social security and pensions | 62 | €491,857 | €488,745 | -€3,112 | -0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €255,086 | €255,069 | -€17 | 0.0% |
| Other operating charges | 640/8 | €131,471 | €121,769 | -€9,702 | -7.4% |
| Non-recurring operating charges | 66A | €95 | €0 | -€95 | -100% |
| Operating profit (loss) | 9901 | €9,675 | €1,005,946 | +€996,271 | +10,297% |
| Financial income | 75/76B | €239,640 | €2,400 | -€237,240 | -99.0% |
| Recurring financial income | 75 | €8,171 | €2,400 | -€5,771 | -70.6% |
| Income from financial fixed assets | 750 | €8,112 | €0 | -€8,112 | -100% |
| Other financial income | 752/9 | €59 | €2,400 | +€2,341 | +3,968% |
| Non-recurring financial income | 76B | €231,469 | €0 | -€231,469 | -100% |
| Financial charges | 65/66B | €1,092,519 | €32,659 | -€1.1m | -97.0% |
| Recurring financial charges | 65 | €109,514 | €32,659 | -€76,855 | -70.2% |
| Debt charges | 650 | €107,264 | €30,938 | -€76,326 | -71.2% |
| Other financial charges | 652/9 | €2,250 | €1,721 | -€529 | -23.5% |
| Non-recurring financial charges | 66B | €983,005 | €0 | -€983,005 | -100% |
| Profit (loss) for the period before taxes | 9903 | -€843,204 | €975,688 | +€1.8m | |
| Income taxes | 67/77 | €2,028 | €232,829 | +€230,801 | +11,381% |
| Taxes | 670/3 | €2,028 | €232,829 | +€230,801 | +11,381% |
| Profit (loss) for the period | 9904 | -€845,232 | €742,859 | +€1.6m | |
| Profit (loss) for the period to be appropriated | 9905 | -€845,232 | €742,859 | +€1.6m |
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 20 October 2026 via checked.be.