Hélène BORDET: 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.
Hélène BORDET
Largest movements
- Cash +€2,956
up €2,956 (+22.0%), from €13,413 to €16,369
mainly Other debts (+€2,746) and Receivables within one year (+€1,756)
- Stocks and contracts +€2,024
up €2,024 (+41.9%), from €4,831 to €6,855
- Receivables within one year -€1,756
down €1,756 (-62.5%), from €2,810 to €1,053
of which Trade receivables: -€1,451
- Tangible fixed assets -€1,289
no longer reported in 2025 (was €1,289)
- Other debts +€2,746
up €2,746 (+23.9%), from €11,499 to €14,245
- Trade debts -€766
down €766 (-73.1%), from €1,048 to €282
- Profit (loss) carried forward -€571
down €571 (-1.3%), from -€44,395 to -€44,966
- Tax, wage and social debts +€531
new in 2025: €531
- Gross operating margin +€3,389
up €3,389, from -€2,165 to €1,224
- Depreciation +€113
up €113 (+9.6%), from €1,176 to €1,289
- Write-downs -€58
no longer reported in 2025 (was €58)
- Financial charges +€42
up €42 (+47.1%), from €89 to €130
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 | €22,412 | €24,352 | +€1,940 | +8.7% |
| Fixed assets | 21/28 | €1,289 | - | -€1,289 | |
| Tangible fixed assets | 22/27 | €1,289 | - | -€1,289 | |
| Furniture and vehicles | 24 | €1,289 | - | -€1,289 | |
| Current assets | 29/58 | €21,123 | €24,352 | +€3,229 | +15.3% |
| Stocks and contracts in progress | 3 | €4,831 | €6,855 | +€2,024 | +41.9% |
| Stocks | 30/36 | €4,831 | €6,855 | +€2,024 | +41.9% |
| Amounts receivable within one year | 40/41 | €2,810 | €1,053 | -€1,756 | -62.5% |
| Trade receivables | 40 | €2,497 | €1,046 | -€1,451 | -58.1% |
| Other amounts receivable | 41 | €312 | €7 | -€305 | -97.7% |
| Cash at bank and in hand | 54/58 | €13,413 | €16,369 | +€2,956 | +22.0% |
| Deferred charges and accrued income | 490/1 | €69 | €74 | +€5 | +7.8% |
| Total equity and liabilities | 10/49 | €22,412 | €24,352 | +€1,940 | +8.7% |
| Equity | 10/15 | €9,865 | €9,294 | -€571 | -5.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €41,860 | €41,860 | = | 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 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€44,395 | -€44,966 | -€571 | -1.3% |
| Amounts payable | 17/49 | €12,547 | €15,058 | +€2,511 | +20.0% |
| Amounts payable within one year | 42/48 | €12,547 | €15,058 | +€2,511 | +20.0% |
| Trade debts | 44 | €1,048 | €282 | -€766 | -73.1% |
| Suppliers | 440/4 | €1,048 | €282 | -€766 | -73.1% |
| Taxes, remuneration and social security | 45 | - | €531 | +€531 | |
| Taxes | 450/3 | - | €531 | +€531 | |
| Other amounts payable | 47/48 | €11,499 | €14,245 | +€2,746 | +23.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,176 | €1,289 | +€113 | +9.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €58 | - | -€58 | |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€2,165 | €1,224 | +€3,389 | |
| Operating profit (loss) | 9901 | -€3,786 | -€465 | +€3,321 | +87.7% |
| Financial income | 75/76B | €10 | €24 | +€14 | +135% |
| Recurring financial income | 75 | €10 | €24 | +€14 | +135% |
| Financial charges | 65/66B | €89 | €130 | +€42 | +47.1% |
| Recurring financial charges | 65 | €89 | €130 | +€42 | +47.1% |
| Profit (loss) for the period before taxes | 9903 | -€3,864 | -€571 | +€3,293 | +85.2% |
| Profit (loss) for the period | 9904 | -€3,864 | -€571 | +€3,293 | +85.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,864 | -€571 | +€3,293 | +85.2% |
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 26 October 2026 via checked.be.