BERCOTEX: 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.
BERCOTEX
Largest movements
- Receivables within one year +€489,627
up €489,627 (+88.4%), from €554,018 to €1.0m
of which Trade receivables: +€409,107
- Cash -€165,724
down €165,724 (-39.7%), from €417,921 to €252,197
mainly Receivables within one year (-€489,627) and Deferred charges and accrued income (-€1,323)
- Reserves +€304,303
up €304,303 (+23.6%), from €1.3m to €1.6m
of which Distributable reserves: +€305,804
No income-statement line moved by more than 1% of the activity.
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 | €1,323,154 | €1,626,469 | +€303,316 | +22.9% |
| Fixed assets | 21/28 | €337,674 | €325,585 | -€12,089 | -3.6% |
| Tangible fixed assets | 22/27 | €337,674 | €325,585 | -€12,089 | -3.6% |
| Land and buildings | 22 | €337,674 | €325,585 | -€12,089 | -3.6% |
| Current assets | 29/58 | €985,480 | €1,300,884 | +€315,404 | +32.0% |
| Stocks and contracts in progress | 3 | €9,823 | €0 | -€9,823 | -100.0% |
| Stocks | 30/36 | €9,823 | €0 | -€9,823 | -100.0% |
| Amounts receivable within one year | 40/41 | €554,018 | €1,043,645 | +€489,627 | +88.4% |
| Trade receivables | 40 | €2,014 | €411,121 | +€409,107 | +20312.6% |
| Other amounts receivable | 41 | €552,004 | €632,524 | +€80,520 | +14.6% |
| Cash at bank and in hand | 54/58 | €417,921 | €252,197 | -€165,724 | -39.7% |
| Deferred charges and accrued income | 490/1 | €3,718 | €5,042 | +€1,323 | +35.6% |
| Total equity and liabilities | 10/49 | €1,323,154 | €1,626,469 | +€303,316 | +22.9% |
| Equity | 10/15 | €1,306,155 | €1,610,457 | +€304,303 | +23.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,287,605 | €1,591,907 | +€304,303 | +23.6% |
| Tax-exempt reserves | 132 | €15,011 | €13,510 | -€1,501 | -10.0% |
| Distributable reserves | 133 | €1,272,594 | €1,578,398 | +€305,804 | +24.0% |
| Provisions and deferred taxes | 16 | €3,753 | €3,377 | -€375 | -10.0% |
| Deferred taxes | 168 | €3,753 | €3,377 | -€375 | -10.0% |
| Amounts payable | 17/49 | €13,247 | €12,635 | -€612 | -4.6% |
| Amounts payable within one year | 42/48 | €12,129 | €11,483 | -€646 | -5.3% |
| Trade debts | 44 | - | €302 | +€302 | |
| Suppliers | 440/4 | - | €302 | +€302 | |
| Taxes, remuneration and social security | 45 | €12,129 | €11,180 | -€948 | -7.8% |
| Taxes | 450/3 | €12,129 | €11,180 | -€948 | -7.8% |
| Accrued charges and deferred income | 492/3 | €1,118 | €1,152 | +€34 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,089 | €12,089 | -€0 | 0.0% |
| Other operating charges | 640/8 | €9,706 | €10,093 | +€387 | +4.0% |
| Gross operating margin | 9900 | €421,701 | €422,979 | +€1,278 | +0.3% |
| Operating profit (loss) | 9901 | €399,906 | €400,797 | +€891 | +0.2% |
| Financial income | 75/76B | €6,082 | €7,039 | +€957 | +15.7% |
| Recurring financial income | 75 | €6,082 | €7,039 | +€957 | +15.7% |
| Financial charges | 65/66B | €36 | €115 | +€79 | +215.7% |
| Recurring financial charges | 65 | €36 | €115 | +€79 | +215.7% |
| Profit (loss) for the period before taxes | 9903 | €405,951 | €407,721 | +€1,770 | +0.4% |
| Transfer from deferred taxes | 780 | €375 | €375 | = | 0.0% |
| Income taxes | 67/77 | €102,265 | €103,794 | +€1,529 | +1.5% |
| Profit (loss) for the period | 9904 | €304,062 | €304,303 | +€241 | +0.1% |
| Transfer from tax-exempt reserves | 789 | €1,501 | €1,501 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €305,563 | €305,804 | +€241 | +0.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.