Bear Solutions: 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.
Bear Solutions
Largest movements
- Cash +€50,593
up €50,593 (+211.9%), from €23,878 to €74,470
mainly Net result for the year (+€49,972) and Other debts (+€48,954)
- Receivables within one year -€13,409
down €13,409 (-42.5%), from €31,553 to €18,144
of which Trade receivables: -€13,422
- Tangible fixed assets +€6,284
up €6,284 (+193.7%), from €3,245 to €9,529
of which Other tangible fixed assets: +€8,485
- Other debts +€48,954
up €48,954 (+962.3%), from €5,087 to €54,041
- Current portion of long-term debt -€9,848
down €9,848 (-100.0%), from €9,848 to €0
- Tax, wage and social debts +€4,743
up €4,743 (+64.5%), from €7,351 to €12,094
- Gross operating margin +€10,430
up €10,430 (+16.1%), from €64,935 to €75,364
- Depreciation -€3,148
down €3,148 (-42.2%), from €7,462 to €4,314
- Taxes +€2,731
up €2,731 (+17.2%), from €15,921 to €18,652
- Financial charges -€1,038
down €1,038 (-64.4%), from €1,612 to €574
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 | €262,346 | €305,796 | +€43,450 | +16.6% |
| Fixed assets | 21/28 | €203,201 | €209,486 | +€6,284 | +3.1% |
| Tangible fixed assets | 22/27 | €3,245 | €9,529 | +€6,284 | +193.7% |
| Furniture and vehicles | 24 | €3,245 | €1,044 | -€2,201 | -67.8% |
| Other tangible fixed assets | 26 | - | €8,485 | +€8,485 | |
| Financial fixed assets | 28 | €199,956 | €199,956 | = | 0.0% |
| Current assets | 29/58 | €59,144 | €96,310 | +€37,166 | +62.8% |
| Amounts receivable within one year | 40/41 | €31,553 | €18,144 | -€13,409 | -42.5% |
| Trade receivables | 40 | €27,474 | €14,052 | -€13,422 | -48.9% |
| Other amounts receivable | 41 | €4,079 | €4,092 | +€13 | +0.3% |
| Cash at bank and in hand | 54/58 | €23,878 | €74,470 | +€50,593 | +211.9% |
| Deferred charges and accrued income | 490/1 | €3,714 | €3,696 | -€18 | -0.5% |
| Total equity and liabilities | 10/49 | €262,346 | €305,796 | +€43,450 | +16.6% |
| Equity | 10/15 | €237,968 | €237,940 | -€28 | 0.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €219,418 | €219,390 | -€28 | 0.0% |
| Distributable reserves | 133 | €219,418 | €219,390 | -€28 | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €24,378 | €67,856 | +€43,478 | +178.3% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €24,378 | €67,856 | +€43,478 | +178.3% |
| Current portion of amounts payable after more than one year | 42 | €9,848 | €0 | -€9,848 | -100.0% |
| Trade debts | 44 | €2,093 | €1,721 | -€372 | -17.8% |
| Suppliers | 440/4 | €2,093 | €1,721 | -€372 | -17.8% |
| Taxes, remuneration and social security | 45 | €7,351 | €12,094 | +€4,743 | +64.5% |
| Taxes | 450/3 | €7,351 | €12,094 | +€4,743 | +64.5% |
| Other amounts payable | 47/48 | €5,087 | €54,041 | +€48,954 | +962.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,462 | €4,314 | -€3,148 | -42.2% |
| Other operating charges | 640/8 | €1,513 | €1,853 | +€341 | +22.5% |
| Gross operating margin | 9900 | €64,935 | €75,364 | +€10,430 | +16.1% |
| Operating profit (loss) | 9901 | €55,961 | €69,197 | +€13,237 | +23.7% |
| Financial income | 75/76B | €11 | €0 | -€11 | -99.7% |
| Recurring financial income | 75 | €11 | €0 | -€11 | -99.7% |
| Financial charges | 65/66B | €1,612 | €574 | -€1,038 | -64.4% |
| Recurring financial charges | 65 | €1,612 | €574 | -€1,038 | -64.4% |
| Profit (loss) for the period before taxes | 9903 | €54,360 | €68,624 | +€14,263 | +26.2% |
| Income taxes | 67/77 | €15,921 | €18,652 | +€2,731 | +17.2% |
| Profit (loss) for the period | 9904 | €38,440 | €49,972 | +€11,532 | +30.0% |
| Profit (loss) for the period to be appropriated | 9905 | €38,440 | €49,972 | +€11,532 | +30.0% |
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 3 October 2026 via checked.be.