NADINE BOURGOIS: 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.
NADINE BOURGOIS
Largest movements
- Tangible fixed assets +€5,223
up €5,223 (+70.7%), from €7,391 to €12,614
of which Plant, machinery and equipment: +€7,087
- Deferred charges and accrued income -€4,000
down €4,000 (-100%), from €4,000 to €0
- Receivables within one year +€2,184
up €2,184 (+163%), from €1,343 to €3,527
of which Trade receivables: +€2,860
- Cash -€1,819
down €1,819 (-8.3%), from €22,043 to €20,224
mainly Contributions, distributions and other (-€21,961) and Investment in fixed assets (net) (-€7,166)
- Other debts +€18,870
up €18,870 (+1,209%), from €1,560 to €20,430
- Reserves -€14,441
down €14,441 (-65.8%), from €21,961 to €7,520
- Tax, wage and social debts -€4,185
down €4,185 (-52.0%), from €8,042 to €3,858
- Trade debts +€1,351
up €1,351 (+1,072%), from €126 to €1,477
- Gross operating margin +€19,012
up €19,012, from -€5,499 to €13,513
- Taxes +€3,333
up €3,333, from €0 to €3,333
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 | €34,777 | €36,365 | +€1,588 | +4.6% |
| Fixed assets | 21/28 | €7,391 | €12,614 | +€5,223 | +70.7% |
| Tangible fixed assets | 22/27 | €7,391 | €12,614 | +€5,223 | +70.7% |
| Plant, machinery and equipment | 23 | - | €7,087 | +€7,087 | |
| Furniture and vehicles | 24 | €7,391 | €5,527 | -€1,864 | -25.2% |
| Current assets | 29/58 | €27,386 | €23,751 | -€3,635 | -13.3% |
| Amounts receivable within one year | 40/41 | €1,343 | €3,527 | +€2,184 | +163% |
| Trade receivables | 40 | €0 | €2,860 | +€2,860 | |
| Other amounts receivable | 41 | €1,343 | €667 | -€676 | -50.3% |
| Cash at bank and in hand | 54/58 | €22,043 | €20,224 | -€1,819 | -8.3% |
| Deferred charges and accrued income | 490/1 | €4,000 | €0 | -€4,000 | -100% |
| Total equity and liabilities | 10/49 | €34,777 | €36,365 | +€1,588 | +4.6% |
| Equity | 10/15 | €24,961 | €10,520 | -€14,441 | -57.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €21,961 | €7,520 | -€14,441 | -65.8% |
| Distributable reserves | 133 | €21,961 | €7,520 | -€14,441 | -65.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €9,816 | €25,845 | +€16,029 | +163% |
| Amounts payable within one year | 42/48 | €9,729 | €25,765 | +€16,036 | +165% |
| Trade debts | 44 | €126 | €1,477 | +€1,351 | +1,072% |
| Suppliers | 440/4 | €126 | €1,477 | +€1,351 | +1,072% |
| Taxes, remuneration and social security | 45 | €8,042 | €3,858 | -€4,185 | -52.0% |
| Taxes | 450/3 | €8,042 | €3,858 | -€4,185 | -52.0% |
| Other amounts payable | 47/48 | €1,560 | €20,430 | +€18,870 | +1,209% |
| Accrued charges and deferred income | 492/3 | €88 | €80 | -€8 | -8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,864 | €1,943 | +€79 | +4.2% |
| Other operating charges | 640/8 | €513 | €528 | +€14 | +2.8% |
| Gross operating margin | 9900 | -€5,499 | €13,513 | +€19,012 | |
| Operating profit (loss) | 9901 | -€7,877 | €11,042 | +€18,919 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €245 | €189 | -€56 | -22.8% |
| Recurring financial charges | 65 | €245 | €189 | -€56 | -22.8% |
| Profit (loss) for the period before taxes | 9903 | -€8,122 | €10,853 | +€18,975 | |
| Income taxes | 67/77 | €0 | €3,333 | +€3,333 | |
| Profit (loss) for the period | 9904 | -€8,122 | €7,520 | +€15,642 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,122 | €7,520 | +€15,642 |
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 20 October 2026 via checked.be.