Bart Bertels Service: 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.
Bart Bertels Service
Largest movements
- Stocks and contracts -€118,292
down €118,292 (-52.9%), from €223,564 to €105,272
- Receivables within one year -€43,808
down €43,808 (-22.4%), from €195,767 to €151,959
of which Trade receivables: -€42,992
- Tangible fixed assets -€38,499
down €38,499 (-8.9%), from €432,755 to €394,256
- Cash -€29,526
down €29,526 (-20.7%), from €142,880 to €113,354
mainly Trade debts (-€113,302) and Net result for the year (-€61,779)
- Deferred charges and accrued income +€20,258
up €20,258, from €0 to €20,258
- Trade debts -€113,302
down €113,302 (-82.8%), from €136,834 to €23,532
- Profit (loss) carried forward -€61,779
down €61,779 (-577.4%), from -€10,699 to -€72,478
- Debts after one year -€35,890
down €35,890 (-23.9%), from €150,353 to €114,463
- Gross operating margin -€137,995
down €137,995 (-61.4%), from €224,627 to €86,632
- Taxes -€19,956
down €19,956 (-98.2%), from €20,323 to €366
- Depreciation -€11,793
down €11,793 (-24.7%), from €47,655 to €35,862
- Staff costs +€6,327
up €6,327 (+6.9%), from €91,823 to €98,150
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.
Cash bridge derived
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 | €994,966 | €785,099 | -€209,866 | -21.1% |
| Fixed assets | 21/28 | €432,755 | €394,256 | -€38,499 | -8.9% |
| Tangible fixed assets | 22/27 | €432,755 | €394,256 | -€38,499 | -8.9% |
| Land and buildings | 22 | €361,634 | €344,906 | -€16,727 | -4.6% |
| Plant, machinery and equipment | 23 | €5,780 | €2,243 | -€3,537 | -61.2% |
| Furniture and vehicles | 24 | €5,824 | €1,403 | -€4,422 | -75.9% |
| Leasing and similar rights | 25 | €59,517 | €45,704 | -€13,813 | -23.2% |
| Current assets | 29/58 | €562,211 | €390,843 | -€171,368 | -30.5% |
| Stocks and contracts in progress | 3 | €223,564 | €105,272 | -€118,292 | -52.9% |
| Stocks | 30/36 | €223,564 | €105,272 | -€118,292 | -52.9% |
| Amounts receivable within one year | 40/41 | €195,767 | €151,959 | -€43,808 | -22.4% |
| Trade receivables | 40 | €189,250 | €146,259 | -€42,992 | -22.7% |
| Other amounts receivable | 41 | €6,517 | €5,700 | -€817 | -12.5% |
| Cash at bank and in hand | 54/58 | €142,880 | €113,354 | -€29,526 | -20.7% |
| Deferred charges and accrued income | 490/1 | €0 | €20,258 | +€20,258 | |
| Total equity and liabilities | 10/49 | €994,966 | €785,099 | -€209,866 | -21.1% |
| Equity | 10/15 | €408,471 | €346,692 | -€61,779 | -15.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €400,570 | €400,570 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €400,570 | €400,570 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,699 | -€72,478 | -€61,779 | -577.4% |
| Amounts payable | 17/49 | €586,495 | €438,407 | -€148,088 | -25.2% |
| Amounts payable after more than one year | 17 | €150,353 | €114,463 | -€35,890 | -23.9% |
| Financial debts | 170/4 | €150,353 | €114,463 | -€35,890 | -23.9% |
| Amounts payable within one year | 42/48 | €434,807 | €323,944 | -€110,862 | -25.5% |
| Current portion of amounts payable after more than one year | 42 | €34,938 | €35,890 | +€953 | +2.7% |
| Trade debts | 44 | €136,834 | €23,532 | -€113,302 | -82.8% |
| Suppliers | 440/4 | €136,834 | €23,532 | -€113,302 | -82.8% |
| Taxes, remuneration and social security | 45 | €24,986 | €28,733 | +€3,747 | +15.0% |
| Taxes | 450/3 | €14,908 | €19,397 | +€4,490 | +30.1% |
| Remuneration and social security | 454/9 | €10,078 | €9,336 | -€743 | -7.4% |
| Other amounts payable | 47/48 | €238,049 | €235,789 | -€2,260 | -0.9% |
| Accrued charges and deferred income | 492/3 | €1,335 | €0 | -€1,335 | -100.0% |
| Remuneration, social security and pensions | 62 | €91,823 | €98,150 | +€6,327 | +6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,655 | €35,862 | -€11,793 | -24.7% |
| Other operating charges | 640/8 | €6,012 | €6,498 | +€486 | +8.1% |
| Gross operating margin | 9900 | €224,627 | €86,632 | -€137,995 | -61.4% |
| Operating profit (loss) | 9901 | €79,137 | -€53,878 | -€133,015 | |
| Financial income | 75/76B | €105 | €281 | +€176 | +167.1% |
| Recurring financial income | 75 | €105 | €281 | +€176 | +167.1% |
| Financial charges | 65/66B | €8,207 | €7,816 | -€391 | -4.8% |
| Recurring financial charges | 65 | €8,207 | €7,816 | -€391 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | €71,035 | -€61,413 | -€132,447 | |
| Income taxes | 67/77 | €20,323 | €366 | -€19,956 | -98.2% |
| Profit (loss) for the period | 9904 | €50,712 | -€61,779 | -€112,491 | |
| Profit (loss) for the period to be appropriated | 9905 | €50,712 | -€61,779 | -€112,491 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.