B.E.R.F.: 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.
B.E.R.F.
Largest movements
- Tangible fixed assets -€9,067
down €9,067 (-8.5%), from €106,471 to €97,404
of which Land and buildings: -€7,480
- Reserves -€5,304
down €5,304 (-7.5%), from €70,977 to €65,672
of which Tax-exempt reserves: -€5,304
- Provisions -€2,731
down €2,731 (-7.7%), from €35,590 to €32,858
- Depreciation -€3,453
down €3,453 (-26.3%), from €13,139 to €9,686
- Gross operating margin +€2,627
up €2,627 (+229%), from €1,145 to €3,772
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 | €162,705 | €155,327 | -€7,378 | -4.5% |
| Fixed assets | 21/28 | €106,471 | €97,404 | -€9,067 | -8.5% |
| Tangible fixed assets | 22/27 | €106,471 | €97,404 | -€9,067 | -8.5% |
| Land and buildings | 22 | €99,871 | €92,391 | -€7,480 | -7.5% |
| Plant, machinery and equipment | 23 | €6,600 | €4,400 | -€2,200 | -33.3% |
| Furniture and vehicles | 24 | - | €613 | +€613 | |
| Current assets | 29/58 | €56,234 | €57,923 | +€1,689 | +3.0% |
| Amounts receivable within one year | 40/41 | €38,104 | €39,670 | +€1,566 | +4.1% |
| Trade receivables | 40 | €12,133 | €12,254 | +€121 | +1.0% |
| Other amounts receivable | 41 | €25,971 | €27,416 | +€1,445 | +5.6% |
| Cash at bank and in hand | 54/58 | €1,082 | €1,205 | +€123 | +11.4% |
| Deferred charges and accrued income | 490/1 | €17,048 | €17,048 | = | 0.0% |
| Total equity and liabilities | 10/49 | €162,705 | €155,327 | -€7,378 | -4.5% |
| Equity | 10/15 | €125,848 | €121,639 | -€4,209 | -3.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €70,977 | €65,672 | -€5,304 | -7.5% |
| Tax-exempt reserves | 132 | €69,117 | €63,812 | -€5,304 | -7.7% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,271 | €37,366 | +€1,096 | +3.0% |
| Provisions and deferred taxes | 16 | €35,590 | €32,858 | -€2,731 | -7.7% |
| Deferred taxes | 168 | €35,590 | €32,858 | -€2,731 | -7.7% |
| Amounts payable | 17/49 | €1,268 | €830 | -€438 | -34.6% |
| Amounts payable within one year | 42/48 | €1,268 | €830 | -€438 | -34.6% |
| Trade debts | 44 | €257 | - | -€257 | |
| Suppliers | 440/4 | €257 | - | -€257 | |
| Taxes, remuneration and social security | 45 | €1,011 | €830 | -€181 | -17.9% |
| Taxes | 450/3 | €1,011 | €830 | -€181 | -17.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,139 | €9,686 | -€3,453 | -26.3% |
| Other operating charges | 640/8 | €951 | €981 | +€30 | +3.1% |
| Non-recurring operating charges | 66A | €1 | - | -€1 | |
| Gross operating margin | 9900 | €1,145 | €3,772 | +€2,627 | +229% |
| Operating profit (loss) | 9901 | -€12,945 | -€6,895 | +€6,050 | +46.7% |
| Financial charges | 65/66B | €40 | €45 | +€5 | +13.4% |
| Recurring financial charges | 65 | €40 | €45 | +€5 | +13.4% |
| Profit (loss) for the period before taxes | 9903 | -€12,985 | -€6,940 | +€6,045 | +46.6% |
| Transfer from deferred taxes | 780 | €2,731 | €2,731 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€10,254 | -€4,209 | +€6,045 | +59.0% |
| Transfer from tax-exempt reserves | 789 | €5,304 | €5,304 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,949 | €1,096 | +€6,045 |
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 1 November 2026 via checked.be.