Jonathan Borlee: 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.
Jonathan Borlee
Largest movements
- Tangible fixed assets -€23,652
down €23,652 (-5.6%), from €419,258 to €395,606
of which Land and buildings: -€19,680
- Receivables within one year +€6,867
up €6,867 (+13.0%), from €52,981 to €59,848
of which Trade receivables: +€6,867
- Cash -€5,324
down €5,324 (-77.0%), from €6,914 to €1,590
mainly Accrued charges and deferred income (-€19,157) and Debts after one year (-€15,079)
- Accrued charges and deferred income -€19,157
down €19,157 (-99.2%), from €19,307 to €150
- Debts after one year -€15,079
down €15,079 (-32.8%), from €45,973 to €30,895
- Profit (loss) carried forward +€9,568
up €9,568 (+45.6%), from -€20,973 to -€11,404
- Gross operating margin +€32,061
up €32,061 (+672%), from €4,768 to €36,829
- Depreciation -€1,168
down €1,168 (-5.5%), from €21,112 to €19,944
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 | €479,257 | €457,246 | -€22,011 | -4.6% |
| Fixed assets | 21/28 | €419,258 | €395,606 | -€23,652 | -5.6% |
| Tangible fixed assets | 22/27 | €419,258 | €395,606 | -€23,652 | -5.6% |
| Land and buildings | 22 | €415,256 | €395,576 | -€19,680 | -4.7% |
| Furniture and vehicles | 24 | €4,003 | €30 | -€3,972 | -99.2% |
| Current assets | 29/58 | €59,998 | €61,639 | +€1,641 | +2.7% |
| Amounts receivable within one year | 40/41 | €52,981 | €59,848 | +€6,867 | +13.0% |
| Trade receivables | 40 | €52,981 | €59,848 | +€6,867 | +13.0% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €6,914 | €1,590 | -€5,324 | -77.0% |
| Deferred charges and accrued income | 490/1 | €103 | €202 | +€98 | +95.3% |
| Total equity and liabilities | 10/49 | €479,257 | €457,246 | -€22,011 | -4.6% |
| Equity | 10/15 | €365,827 | €375,395 | +€9,568 | +2.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €380,599 | €380,599 | = | 0.0% |
| Distributable reserves | 133 | €380,599 | €380,599 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,973 | -€11,404 | +€9,568 | +45.6% |
| Amounts payable | 17/49 | €113,430 | €81,851 | -€31,579 | -27.8% |
| Amounts payable after more than one year | 17 | €45,973 | €30,895 | -€15,079 | -32.8% |
| Financial debts | 170/4 | €45,973 | €30,895 | -€15,079 | -32.8% |
| Amounts payable within one year | 42/48 | €48,150 | €50,806 | +€2,656 | +5.5% |
| Current portion of amounts payable after more than one year | 42 | €15,282 | €15,079 | -€203 | -1.3% |
| Trade debts | 44 | €31,363 | €33,776 | +€2,413 | +7.7% |
| Suppliers | 440/4 | €31,363 | €33,776 | +€2,413 | +7.7% |
| Taxes, remuneration and social security | 45 | €1,505 | €1,806 | +€300 | +20.0% |
| Taxes | 450/3 | €1,505 | €1,806 | +€300 | +20.0% |
| Other amounts payable | 47/48 | - | €145 | +€145 | |
| Accrued charges and deferred income | 492/3 | €19,307 | €150 | -€19,157 | -99.2% |
| Non-recurring operating income | 76A | - | €482 | +€482 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,112 | €19,944 | -€1,168 | -5.5% |
| Other operating charges | 640/8 | €2,970 | €3,323 | +€353 | +11.9% |
| Non-recurring operating charges | 66A | - | €2,190 | +€2,190 | |
| Gross operating margin | 9900 | €4,768 | €36,829 | +€32,061 | +672% |
| Operating profit (loss) | 9901 | -€19,315 | €11,372 | +€30,687 | |
| Financial income | 75/76B | €1 | €2 | +€1 | +136% |
| Recurring financial income | 75 | €1 | €2 | +€1 | +136% |
| Financial charges | 65/66B | €1,313 | €1,230 | -€83 | -6.4% |
| Recurring financial charges | 65 | €1,313 | €1,230 | -€83 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | -€20,627 | €10,144 | +€30,771 | |
| Income taxes | 67/77 | €346 | €576 | +€230 | +66.6% |
| Profit (loss) for the period | 9904 | -€20,973 | €9,568 | +€30,541 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,973 | €9,568 | +€30,541 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.