KINE BORGERS: 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.
KINE BORGERS
Largest movements
- Current investments +€350,000
up €350,000 (+700%), from €50,000 to €400,000
- Cash -€295,805
down €295,805 (-55.3%), from €534,936 to €239,131
mainly Current investments (-€350,000) and Other debts (-€18,414)
- Reserves +€81,423
up €81,423 (+16.4%), from €497,807 to €579,230
- Other debts -€18,414
down €18,414 (-49.6%), from €37,116 to €18,703
- Taxes +€1,875
up €1,875 (+4.2%), from €44,655 to €46,530
- Financial income -€1,576
down €1,576 (-20.1%), from €7,855 to €6,279
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 | €586,216 | €639,809 | +€53,593 | +9.1% |
| Fixed assets | 21/28 | €1,281 | €629 | -€652 | -50.9% |
| Tangible fixed assets | 22/27 | €1,281 | €629 | -€652 | -50.9% |
| Plant, machinery and equipment | 23 | €1,281 | €629 | -€652 | -50.9% |
| Current assets | 29/58 | €584,936 | €639,180 | +€54,245 | +9.3% |
| Current investments | 50/53 | €50,000 | €400,000 | +€350,000 | +700% |
| Cash at bank and in hand | 54/58 | €534,936 | €239,131 | -€295,805 | -55.3% |
| Deferred charges and accrued income | 490/1 | - | €50 | +€50 | |
| Total equity and liabilities | 10/49 | €586,216 | €639,809 | +€53,593 | +9.1% |
| Equity | 10/15 | €516,407 | €597,830 | +€81,423 | +15.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €497,807 | €579,230 | +€81,423 | +16.4% |
| Distributable reserves | 133 | €497,807 | €579,230 | +€81,423 | +16.4% |
| Amounts payable | 17/49 | €69,809 | €41,979 | -€27,830 | -39.9% |
| Amounts payable within one year | 42/48 | €69,809 | €41,979 | -€27,830 | -39.9% |
| Trade debts | 44 | €6,051 | €1,158 | -€4,894 | -80.9% |
| Suppliers | 440/4 | €6,051 | €1,158 | -€4,894 | -80.9% |
| Taxes, remuneration and social security | 45 | €26,641 | €22,119 | -€4,522 | -17.0% |
| Taxes | 450/3 | €26,641 | €21,099 | -€5,542 | -20.8% |
| Remuneration and social security | 454/9 | - | €1,020 | +€1,020 | |
| Other amounts payable | 47/48 | €37,116 | €18,703 | -€18,414 | -49.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,560 | €652 | -€908 | -58.2% |
| Other operating charges | 640/8 | €1,375 | €1,392 | +€17 | +1.3% |
| Gross operating margin | 9900 | €123,828 | €123,986 | +€157 | +0.1% |
| Operating profit (loss) | 9901 | €120,894 | €121,942 | +€1,048 | +0.9% |
| Financial income | 75/76B | €7,855 | €6,279 | -€1,576 | -20.1% |
| Recurring financial income | 75 | €7,855 | €6,279 | -€1,576 | -20.1% |
| Financial charges | 65/66B | €282 | €269 | -€13 | -4.6% |
| Recurring financial charges | 65 | €282 | €269 | -€13 | -4.6% |
| Profit (loss) for the period before taxes | 9903 | €128,467 | €127,952 | -€514 | -0.4% |
| Income taxes | 67/77 | €44,655 | €46,530 | +€1,875 | +4.2% |
| Profit (loss) for the period | 9904 | €83,812 | €81,423 | -€2,389 | -2.9% |
| Profit (loss) for the period to be appropriated | 9905 | €83,812 | €81,423 | -€2,389 | -2.9% |
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 31 October 2026 via checked.be.