BERCU: 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.
BERCU
Largest movements
- Cash +€118,789
up €118,789 (+57.5%), from €206,439 to €325,228
mainly Net result for the year (+€116,695) and Stocks and contracts (+€9,844)
- Stocks and contracts -€9,844
down €9,844 (-59.2%), from €16,631 to €6,787
- Reserves +€116,400
up €116,400 (+80.8%), from €144,145 to €260,545
of which Distributable reserves: +€116,400
- Trade debts -€9,627
down €9,627 (-77.7%), from €12,392 to €2,765
- Gross operating margin +€94,709
up €94,709 (+51.4%), from €184,141 to €278,850
- Taxes +€29,329
up €29,329 (+134%), from €21,863 to €51,192
- Staff costs +€3,302
up €3,302 (+3.1%), from €105,598 to €108,900
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 | €276,347 | €383,375 | +€107,028 | +38.7% |
| Fixed assets | 21/28 | €3,150 | €3,172 | +€22 | +0.7% |
| Tangible fixed assets | 22/27 | €2,376 | €2,398 | +€22 | +0.9% |
| Plant, machinery and equipment | 23 | €2,376 | €2,398 | +€22 | +0.9% |
| Financial fixed assets | 28 | €774 | €774 | = | 0.0% |
| Current assets | 29/58 | €273,197 | €380,203 | +€107,006 | +39.2% |
| Stocks and contracts in progress | 3 | €16,631 | €6,787 | -€9,844 | -59.2% |
| Stocks | 30/36 | €16,631 | €6,787 | -€9,844 | -59.2% |
| Amounts receivable within one year | 40/41 | €30,406 | €27,972 | -€2,434 | -8.0% |
| Trade receivables | 40 | €30,406 | €27,972 | -€2,434 | -8.0% |
| Current investments | 50/53 | €19,721 | €19,471 | -€250 | -1.3% |
| Cash at bank and in hand | 54/58 | €206,439 | €325,228 | +€118,789 | +57.5% |
| Deferred charges and accrued income | 490/1 | - | €745 | +€745 | |
| Total equity and liabilities | 10/49 | €276,347 | €383,375 | +€107,028 | +38.7% |
| Equity | 10/15 | €242,343 | €359,038 | +€116,695 | +48.2% |
| Contributions | 10/11 | €63,000 | €63,000 | = | 0.0% |
| Capital | 10 | €63,000 | €63,000 | = | 0.0% |
| Issued capital | 100 | €63,000 | €63,000 | = | 0.0% |
| Reserves | 13 | €144,145 | €260,545 | +€116,400 | +80.8% |
| Non-distributable reserves | 130/1 | €14,086 | €14,086 | = | 0.0% |
| Legal reserve | 130 | €14,086 | €14,086 | = | 0.0% |
| Distributable reserves | 133 | €130,059 | €246,459 | +€116,400 | +89.5% |
| Profit (loss) carried forward | 14 | €35,198 | €35,493 | +€295 | +0.8% |
| Amounts payable | 17/49 | €34,004 | €24,337 | -€9,667 | -28.4% |
| Amounts payable within one year | 42/48 | €34,004 | €24,337 | -€9,667 | -28.4% |
| Trade debts | 44 | €12,392 | €2,765 | -€9,627 | -77.7% |
| Suppliers | 440/4 | €12,392 | €2,765 | -€9,627 | -77.7% |
| Taxes, remuneration and social security | 45 | €18,492 | €21,252 | +€2,760 | +14.9% |
| Taxes | 450/3 | €10,675 | €13,435 | +€2,760 | +25.9% |
| Remuneration and social security | 454/9 | €7,817 | €7,817 | = | 0.0% |
| Other amounts payable | 47/48 | €3,120 | €320 | -€2,800 | -89.7% |
| Remuneration, social security and pensions | 62 | €105,598 | €108,900 | +€3,302 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €813 | €1,203 | +€390 | +48.0% |
| Other operating charges | 640/8 | €869 | €878 | +€9 | +1.0% |
| Gross operating margin | 9900 | €184,141 | €278,850 | +€94,709 | +51.4% |
| Operating profit (loss) | 9901 | €76,861 | €167,869 | +€91,008 | +118% |
| Financial income | 75/76B | €855 | €530 | -€325 | -38.0% |
| Recurring financial income | 75 | €855 | €530 | -€325 | -38.0% |
| Financial charges | 65/66B | €814 | €512 | -€302 | -37.1% |
| Recurring financial charges | 65 | €814 | €512 | -€302 | -37.1% |
| Profit (loss) for the period before taxes | 9903 | €76,902 | €167,887 | +€90,985 | +118% |
| Income taxes | 67/77 | €21,863 | €51,192 | +€29,329 | +134% |
| Profit (loss) for the period | 9904 | €55,039 | €116,695 | +€61,656 | +112% |
| Profit (loss) for the period to be appropriated | 9905 | €55,039 | €116,695 | +€61,656 | +112% |
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 19 October 2026 via checked.be.