LA BORDURE: 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.
LA BORDURE
Largest movements
- Receivables within one year +€8,769
up €8,769 (+73.2%), from €11,973 to €20,742
of which Trade receivables: +€12,282
- Tangible fixed assets -€7,042
down €7,042 (-14.5%), from €48,446 to €41,404
of which Other tangible fixed assets: -€4,915
- Cash +€1,947
up €1,947 (+33.9%), from €5,738 to €7,685
mainly Depreciation (+€8,053) and Other debts (+€3,153)
- Other debts +€3,153
up €3,153 (+18.2%), from €17,331 to €20,485
- Trade debts +€2,228
up €2,228 (+45.4%), from €4,908 to €7,136
- Advances received -€1,050
no longer reported in 2025 (was €1,050)
- Gross operating margin +€6,468
up €6,468 (+231.8%), from €2,791 to €9,259
- Other operating charges -€514
down €514 (-40.2%), from €1,278 to €764
- Depreciation +€280
up €280 (+3.6%), from €7,773 to €8,053
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 | €72,239 | €76,068 | +€3,829 | +5.3% |
| Fixed assets | 21/28 | €48,446 | €41,404 | -€7,042 | -14.5% |
| Tangible fixed assets | 22/27 | €48,446 | €41,404 | -€7,042 | -14.5% |
| Plant, machinery and equipment | 23 | €5,404 | €4,663 | -€741 | -13.7% |
| Furniture and vehicles | 24 | €3,008 | €1,623 | -€1,385 | -46.1% |
| Other tangible fixed assets | 26 | €40,034 | €35,119 | -€4,915 | -12.3% |
| Current assets | 29/58 | €23,793 | €34,664 | +€10,871 | +45.7% |
| Stocks and contracts in progress | 3 | €6,082 | €6,237 | +€155 | +2.5% |
| Stocks | 30/36 | €6,082 | €6,237 | +€155 | +2.5% |
| Amounts receivable within one year | 40/41 | €11,973 | €20,742 | +€8,769 | +73.2% |
| Trade receivables | 40 | €8,460 | €20,742 | +€12,282 | +145.2% |
| Other amounts receivable | 41 | €3,513 | - | -€3,513 | |
| Cash at bank and in hand | 54/58 | €5,738 | €7,685 | +€1,947 | +33.9% |
| Total equity and liabilities | 10/49 | €72,239 | €76,068 | +€3,829 | +5.3% |
| Equity | 10/15 | €43,569 | €43,770 | +€200 | +0.5% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,431 | -€16,230 | +€200 | +1.2% |
| Amounts payable | 17/49 | €28,670 | €32,298 | +€3,628 | +12.7% |
| Amounts payable within one year | 42/48 | €28,670 | €32,298 | +€3,628 | +12.7% |
| Trade debts | 44 | €4,908 | €7,136 | +€2,228 | +45.4% |
| Suppliers | 440/4 | €4,908 | €7,136 | +€2,228 | +45.4% |
| Advances received on contracts in progress | 46 | €1,050 | - | -€1,050 | |
| Taxes, remuneration and social security | 45 | €5,381 | €4,678 | -€703 | -13.1% |
| Taxes | 450/3 | - | €4,078 | +€4,078 | |
| Remuneration and social security | 454/9 | €5,381 | €600 | -€4,781 | -88.8% |
| Other amounts payable | 47/48 | €17,331 | €20,485 | +€3,153 | +18.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,773 | €8,053 | +€280 | +3.6% |
| Other operating charges | 640/8 | €1,278 | €764 | -€514 | -40.2% |
| Gross operating margin | 9900 | €2,791 | €9,259 | +€6,468 | +231.8% |
| Operating profit (loss) | 9901 | -€6,260 | €442 | +€6,702 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €251 | €242 | -€9 | -3.5% |
| Recurring financial charges | 65 | €251 | €242 | -€9 | -3.5% |
| Profit (loss) for the period before taxes | 9903 | -€6,511 | €200 | +€6,711 | |
| Profit (loss) for the period | 9904 | -€6,511 | €200 | +€6,711 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,511 | €200 | +€6,711 |
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 12 October 2026 via checked.be.