alain berteau: what changed
alain berteau
Largest movements
- Receivables within one year +€117,841
up €117,841 (+74.5%), from €158,243 to €276,084
of which Trade receivables: +€113,436
- Tangible fixed assets +€9,031
up €9,031 (+82.0%), from €11,012 to €20,044
of which Furniture and vehicles: +€9,983
- Cash +€6,239
up €6,239 (+191%), from €3,261 to €9,500
mainly Advances received (+€104,692) and Trade debts (+€66,570)
- Receivables after one year -€4,400
down €4,400 (-86.3%), from €5,100 to €700
- Advances received +€104,692
up €104,692 (+339%), from €30,857 to €135,549
- Trade debts +€66,570
up €66,570 (+362%), from €18,403 to €84,973
- Other debts -€20,022
down €20,022 (-40.0%), from €50,050 to €30,028
- Profit (loss) carried forward -€17,779
down €17,779 (-33.5%), from €53,152 to €35,372
- Tax, wage and social debts -€4,839
no longer reported in 2025 (was €4,839)
- Gross operating margin +€16,086
up €16,086 (+164%), from €9,816 to €25,902
- Taxes +€3,473
up €3,473 (+279%), from €1,246 to €4,719
- Depreciation +€2,263
up €2,263 (+38.8%), from €5,826 to €8,088
- Other operating charges -€372
down €372 (-70.1%), from €530 to €159
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 | €177,760 | €306,382 | +€128,622 | +72.4% |
| Fixed assets | 21/28 | €11,067 | €20,098 | +€9,031 | +81.6% |
| Tangible fixed assets | 22/27 | €11,012 | €20,044 | +€9,031 | +82.0% |
| Plant, machinery and equipment | 23 | €1,680 | €728 | -€952 | -56.7% |
| Furniture and vehicles | 24 | €9,333 | €19,316 | +€9,983 | +107% |
| Financial fixed assets | 28 | €54 | €54 | = | 0.0% |
| Current assets | 29/58 | €166,693 | €286,284 | +€119,591 | +71.7% |
| Amounts receivable after more than one year | 29 | €5,100 | €700 | -€4,400 | -86.3% |
| Other amounts receivable | 291 | €5,100 | €700 | -€4,400 | -86.3% |
| Amounts receivable within one year | 40/41 | €158,243 | €276,084 | +€117,841 | +74.5% |
| Trade receivables | 40 | €148,567 | €262,004 | +€113,436 | +76.4% |
| Other amounts receivable | 41 | €9,675 | €14,080 | +€4,405 | +45.5% |
| Cash at bank and in hand | 54/58 | €3,261 | €9,500 | +€6,239 | +191% |
| Deferred charges and accrued income | 490/1 | €89 | - | -€89 | |
| Total equity and liabilities | 10/49 | €177,760 | €306,382 | +€128,622 | +72.4% |
| Equity | 10/15 | €73,612 | €55,832 | -€17,779 | -24.2% |
| Contributions | 10/11 | €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% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €53,152 | €35,372 | -€17,779 | -33.5% |
| Amounts payable | 17/49 | €104,148 | €250,550 | +€146,402 | +141% |
| Amounts payable within one year | 42/48 | €104,148 | €250,550 | +€146,402 | +141% |
| Trade debts | 44 | €18,403 | €84,973 | +€66,570 | +362% |
| Suppliers | 440/4 | €18,403 | €84,973 | +€66,570 | +362% |
| Advances received on contracts in progress | 46 | €30,857 | €135,549 | +€104,692 | +339% |
| Taxes, remuneration and social security | 45 | €4,839 | - | -€4,839 | |
| Taxes | 450/3 | €4,839 | - | -€4,839 | |
| Other amounts payable | 47/48 | €50,050 | €30,028 | -€20,022 | -40.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,826 | €8,088 | +€2,263 | +38.8% |
| Other operating charges | 640/8 | €530 | €159 | -€372 | -70.1% |
| Gross operating margin | 9900 | €9,816 | €25,902 | +€16,086 | +164% |
| Operating profit (loss) | 9901 | €3,460 | €17,654 | +€14,195 | +410% |
| Financial income | 75/76B | €90 | €102 | +€12 | +13.2% |
| Recurring financial income | 75 | €90 | €102 | +€12 | +13.2% |
| Financial charges | 65/66B | €734 | €816 | +€82 | +11.2% |
| Recurring financial charges | 65 | €734 | €816 | +€82 | +11.2% |
| Profit (loss) for the period before taxes | 9903 | €2,815 | €16,940 | +€14,124 | +502% |
| Income taxes | 67/77 | €1,246 | €4,719 | +€3,473 | +279% |
| Profit (loss) for the period | 9904 | €1,569 | €12,221 | +€10,652 | +679% |
| Profit (loss) for the period to be appropriated | 9905 | €1,569 | €12,221 | +€10,652 | +679% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.