Ronald Van den Borre: what changed
Ronald Van den Borre
Largest movements
- Receivables within one year +€394,232
up €394,232 (+565%), from €69,755 to €463,987
- Tangible fixed assets -€289,000
down €289,000 (-58.5%), from €494,256 to €205,256
of which Land and buildings: -€287,793
- Current investments +€150,571
up €150,571 (+30.0%), from €502,429 to €653,000
- Cash +€24,893
up €24,893 (+18,691%), from €133 to €25,026
mainly Net result for the year (+€445,814) and Investment in fixed assets (net) (+€287,966)
- Profit (loss) carried forward +€445,814
up €445,814 (+51.5%), from €866,238 to €1.3m
- Debts after one year -€150,000
no longer reported in 2025 (was €150,000)
- Financial income +€544,416
up €544,416 (+8,583%), from €6,343 to €550,759
of which Non-recurring financial income: +€322,822
- Taxes +€74,611
new in 2025: €74,611
- Gross operating margin -€30,285
down €30,285, from €8,477 to -€21,808
- Financial charges -€2,805
down €2,805 (-34.8%), from €8,052 to €5,247
- Depreciation +€728
up €728 (+237%), from €307 to €1,034
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,066,574 | €1,347,269 | +€280,695 | +26.3% |
| Fixed assets | 21/28 | €494,256 | €205,256 | -€289,000 | -58.5% |
| Tangible fixed assets | 22/27 | €494,256 | €205,256 | -€289,000 | -58.5% |
| Land and buildings | 22 | €490,743 | €202,950 | -€287,793 | -58.6% |
| Furniture and vehicles | 24 | €3,513 | €2,306 | -€1,207 | -34.4% |
| Current assets | 29/58 | €572,318 | €1,142,013 | +€569,696 | +99.5% |
| Amounts receivable within one year | 40/41 | €69,755 | €463,987 | +€394,232 | +565% |
| Other amounts receivable | 41 | €69,755 | €463,987 | +€394,232 | +565% |
| Current investments | 50/53 | €502,429 | €653,000 | +€150,571 | +30.0% |
| Cash at bank and in hand | 54/58 | €133 | €25,026 | +€24,893 | +18,691% |
| Total equity and liabilities | 10/49 | €1,066,574 | €1,347,269 | +€280,695 | +26.3% |
| Equity | 10/15 | €886,698 | €1,332,512 | +€445,814 | +50.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €866,238 | €1,312,052 | +€445,814 | +51.5% |
| Amounts payable | 17/49 | €179,876 | €14,757 | -€165,118 | -91.8% |
| Amounts payable after more than one year | 17 | €150,000 | - | -€150,000 | |
| Financial debts | 170/4 | €150,000 | - | -€150,000 | |
| Amounts payable within one year | 42/48 | €28,278 | €14,757 | -€13,521 | -47.8% |
| Current portion of amounts payable after more than one year | 42 | €13,334 | - | -€13,334 | |
| Trade debts | 44 | €33 | €12,380 | +€12,347 | +37,370% |
| Suppliers | 440/4 | €33 | €12,380 | +€12,347 | +37,370% |
| Other amounts payable | 47/48 | €14,912 | €2,377 | -€12,534 | -84.1% |
| Accrued charges and deferred income | 492/3 | €1,597 | - | -€1,597 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €307 | €1,034 | +€728 | +237% |
| Other operating charges | 640/8 | €2,297 | €2,244 | -€54 | -2.3% |
| Gross operating margin | 9900 | €8,477 | -€21,808 | -€30,285 | |
| Operating profit (loss) | 9901 | €5,872 | -€25,086 | -€30,959 | |
| Financial income | 75/76B | €6,343 | €550,759 | +€544,416 | +8,583% |
| Recurring financial income | 75 | €6,343 | €227,937 | +€221,594 | +3,493% |
| Non-recurring financial income | 76B | - | €322,822 | +€322,822 | |
| Financial charges | 65/66B | €8,052 | €5,247 | -€2,805 | -34.8% |
| Recurring financial charges | 65 | €8,052 | €5,247 | -€2,805 | -34.8% |
| Profit (loss) for the period before taxes | 9903 | €4,163 | €520,425 | +€516,262 | +12,400% |
| Income taxes | 67/77 | - | €74,611 | +€74,611 | |
| Profit (loss) for the period | 9904 | €4,163 | €445,814 | +€441,650 | +10,608% |
| Profit (loss) for the period to be appropriated | 9905 | €4,163 | €445,814 | +€441,650 | +10,608% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.