BERCEUSE: 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.
BERCEUSE
Largest movements
- Cash -€820,535
down €820,535 (-91.0%), from €902,023 to €81,488
mainly Investment in fixed assets (net) (-€583,178) and Current investments (-€149,965)
- Tangible fixed assets +€526,741
up €526,741 (+14.7%), from €3.6m to €4.1m
of which Land and buildings: +€3.3m
- Current investments +€149,965
up €149,965, from €0 to €149,965
- Other debts -€101,944
down €101,944 (-95.7%), from €106,570 to €4,626
- Trade debts -€68,156
down €68,156 (-77.3%), from €88,151 to €19,994
- Profit (loss) carried forward +€51,606
up €51,606, from -€51,606 to €0
- Other operating charges -€117,490
down €117,490 (-97.2%), from €120,895 to €3,405
- Gross operating margin +€80,154
up €80,154 (+63.0%), from €127,266 to €207,420
- Depreciation +€36,744
up €36,744 (+187%), from €19,693 to €56,437
- Financial income -€24,087
down €24,087 (-80.6%), from €29,874 to €5,786
- Financial charges +€15,566
up €15,566 (+18.3%), from €85,289 to €100,855
of which Financial charges: +€16,215
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 | €4,920,133 | €4,774,089 | -€146,043 | -3.0% |
| Fixed assets | 21/28 | €3,590,890 | €4,117,631 | +€526,741 | +14.7% |
| Tangible fixed assets | 22/27 | €3,590,890 | €4,117,631 | +€526,741 | +14.7% |
| Land and buildings | 22 | €831,292 | €4,091,252 | +€3.3m | +392% |
| Plant, machinery and equipment | 23 | €9,030 | €4,161 | -€4,869 | -53.9% |
| Furniture and vehicles | 24 | €30,054 | €22,218 | -€7,835 | -26.1% |
| Other tangible fixed assets | 26 | €34,457 | €0 | -€34,457 | -100% |
| Assets under construction and advance payments | 27 | €2,686,058 | €0 | -€2.7m | -100% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €1,329,243 | €656,458 | -€672,785 | -50.6% |
| Stocks and contracts in progress | 3 | €419,116 | €424,017 | +€4,902 | +1.2% |
| Stocks | 30/36 | €419,116 | €424,017 | +€4,902 | +1.2% |
| Amounts receivable within one year | 40/41 | €8,104 | €988 | -€7,116 | -87.8% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €8,104 | €988 | -€7,116 | -87.8% |
| Current investments | 50/53 | €0 | €149,965 | +€149,965 | |
| Cash at bank and in hand | 54/58 | €902,023 | €81,488 | -€820,535 | -91.0% |
| Total equity and liabilities | 10/49 | €4,920,133 | €4,774,089 | -€146,043 | -3.0% |
| Equity | 10/15 | €2,258,857 | €2,316,547 | +€57,690 | +2.6% |
| Contributions | 10/11 | €650,000 | €650,000 | = | 0.0% |
| Reserves | 13 | €1,660,463 | €1,666,547 | +€6,084 | +0.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €1,660,463 | €1,642,404 | -€18,059 | -1.1% |
| Distributable reserves | 133 | €0 | €24,143 | +€24,143 | |
| Profit (loss) carried forward | 14 | -€51,606 | €0 | +€51,606 | |
| Provisions and deferred taxes | 16 | €553,488 | €547,468 | -€6,020 | -1.1% |
| Deferred taxes | 168 | €553,488 | €547,468 | -€6,020 | -1.1% |
| Amounts payable | 17/49 | €2,107,787 | €1,910,074 | -€197,713 | -9.4% |
| Amounts payable after more than one year | 17 | €1,860,000 | €1,840,000 | -€20,000 | -1.1% |
| Financial debts | 170/4 | €1,860,000 | €1,840,000 | -€20,000 | -1.1% |
| Amounts payable within one year | 42/48 | €196,985 | €30,096 | -€166,889 | -84.7% |
| Trade debts | 44 | €88,151 | €19,994 | -€68,156 | -77.3% |
| Suppliers | 440/4 | €88,151 | €19,994 | -€68,156 | -77.3% |
| Taxes, remuneration and social security | 45 | €2,265 | €5,476 | +€3,211 | +142% |
| Taxes | 450/3 | €2,265 | €5,476 | +€3,211 | +142% |
| Other amounts payable | 47/48 | €106,570 | €4,626 | -€101,944 | -95.7% |
| Accrued charges and deferred income | 492/3 | €50,802 | €39,978 | -€10,824 | -21.3% |
| Non-recurring operating income | 76A | €191,925 | €263,162 | +€71,237 | +37.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,693 | €56,437 | +€36,744 | +187% |
| Other operating charges | 640/8 | €120,895 | €3,405 | -€117,490 | -97.2% |
| Gross operating margin | 9900 | €127,266 | €207,420 | +€80,154 | +63.0% |
| Operating profit (loss) | 9901 | -€13,322 | €147,578 | +€160,900 | |
| Financial income | 75/76B | €29,874 | €5,786 | -€24,087 | -80.6% |
| Recurring financial income | 75 | €29,874 | €5,786 | -€24,087 | -80.6% |
| Financial charges | 65/66B | €85,289 | €100,855 | +€15,566 | +18.3% |
| Recurring financial charges | 65 | €84,641 | €100,855 | +€16,215 | +19.2% |
| Non-recurring financial charges | 66B | €648 | €0 | -€648 | -100% |
| Profit (loss) for the period before taxes | 9903 | -€68,737 | €52,509 | +€121,246 | |
| Transfer from deferred taxes | 780 | - | €6,020 | +€6,020 | |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €447 | €839 | +€392 | +87.8% |
| Profit (loss) for the period | 9904 | -€69,184 | €57,690 | +€126,873 | |
| Transfer from tax-exempt reserves | 789 | - | €18,059 | +€18,059 | |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€69,184 | €75,749 | +€144,932 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.