N.BORGES: what changed
Two fiscal 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.
N.BORGES
Largest movements
- Cash -€34,856
down €34,856 (-41.9%), from €83,204 to €48,348
- Receivables within one year -€22,974
down €22,974 (-9.6%), from €238,476 to €215,502
- Profit (loss) carried forward -€51,362
down €51,362 (-53.7%), from -€95,729 to -€147,091
- Debts within one year -€4,638
down €4,638 (-1.3%), from €345,222 to €340,584
of which Trade debts: -€9,078
- Gross operating margin -€1,570
down €1,570 (-54.0%), from -€2,908 to -€4,479
- Other operating charges +€688
new in 2024: €688
- Financial charges +€581
new in 2024: €581
- Depreciation +€261
up €261 (+96.7%), from €270 to €530
From the 2020 result to the 2024 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2020 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €322,693 | €266,693 | -€55,999 | -17.4% |
| Fixed assets | 21/28 | €1,013 | €1,773 | +€760 | +75.0% |
| Tangible fixed assets | 22/27 | €963 | €1,773 | +€810 | +84.1% |
| Furniture and vehicles | 24 | - | €1,773 | +€1,773 | |
| Financial fixed assets | 28 | €50 | - | -€50 | |
| Current assets | 29/58 | €321,679 | €264,920 | -€56,759 | -17.6% |
| Amounts receivable within one year | 40/41 | €238,476 | €215,502 | -€22,974 | -9.6% |
| Trade receivables | 40 | - | €214,228 | +€214,228 | |
| Other amounts receivable | 41 | - | €1,273 | +€1,273 | |
| Cash at bank and in hand | 54/58 | €83,204 | €48,348 | -€34,856 | -41.9% |
| Deferred charges and accrued income | 490/1 | - | €1,070 | +€1,070 | |
| Total equity and liabilities | 10/49 | €322,693 | €266,693 | -€55,999 | -17.4% |
| Equity | 10/15 | -€22,529 | -€73,891 | -€51,362 | -228.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | - | €62,000 | +€62,000 | |
| Issued capital | 100 | - | €62,000 | +€62,000 | |
| Reserves | 13 | €11,200 | €11,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | - | €11,200 | +€11,200 | |
| Legal reserve | 130 | - | €6,200 | +€6,200 | |
| Reserves not available under the articles | 1311 | - | €5,000 | +€5,000 | |
| Profit (loss) carried forward | 14 | -€95,729 | -€147,091 | -€51,362 | -53.7% |
| Amounts payable | 17/49 | €345,222 | €340,584 | -€4,638 | -1.3% |
| Amounts payable within one year | 42/48 | €345,222 | €340,584 | -€4,638 | -1.3% |
| Trade debts | 44 | €330,614 | €321,536 | -€9,078 | -2.7% |
| Suppliers | 440/4 | - | €321,536 | +€321,536 | |
| Taxes, remuneration and social security | 45 | - | €3,000 | +€3,000 | |
| Remuneration and social security | 454/9 | - | €3,000 | +€3,000 | |
| Other amounts payable | 47/48 | - | €16,048 | +€16,048 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €270 | €530 | +€261 | +96.7% |
| Other operating charges | 640/8 | - | €688 | +€688 | |
| Non-recurring operating charges | 66A | - | €3,705 | +€3,705 | |
| Gross operating margin | 9900 | -€2,908 | -€4,479 | -€1,570 | -54.0% |
| Operating profit (loss) | 9901 | -€4,285 | -€9,402 | -€5,117 | -119.4% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | €21,724 | €0 | -€21,724 | -100.0% |
| Financial charges | 65/66B | - | €581 | +€581 | |
| Recurring financial charges | 65 | €25,617 | €581 | -€25,036 | -97.7% |
| Profit (loss) for the period before taxes | 9903 | -€8,177 | -€9,982 | -€1,805 | -22.1% |
| Profit (loss) for the period | 9904 | -€8,177 | -€9,982 | -€1,805 | -22.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,177 | -€9,982 | -€1,805 | -22.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2020 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.