BERDAN: 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.
What changed
BERDAN
NACE 64.210, Activities of holding companies
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€14.9m
2023 · €4.6m+€10.3m
Equity
€256.3m
2023 · €241.4m+€14.9m
Cash
€5.0m
2023 · €5.3m-€307,770
Balance sheet total
€461.4m
2023 · €418.5m+€42.9m
Largest movements
Assets
- Current investments +€36.9m
up €36.9m (+24.8%), from €148.6m to €185.5m
- Receivables after one year +€5.1m
up €5.1m (+12.9%), from €39.4m to €44.5m
Equity and liabilities
- Debts after one year +€30.1m
up €30.1m (+17.6%), from €170.8m to €200.9m
- Reserves +€14.9m
up €14.9m (+1679.4%), from €886,263 to €15.8m
of which Distributable reserves: +€13.9m
Income statement
- Gross operating margin +€7.8m
up €7.8m (+2309.8%), from €338,956 to €8.2m
- Financial income +€7.5m
up €7.5m (+102.1%), from €7.3m to €14.8m
- Taxes +€2.7m
up €2.7m (+925.0%), from €295,378 to €3.0m
- Financial charges +€2.3m
up €2.3m (+93.7%), from €2.4m to €4.7m
From the 2023 result to the 2024 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.
Result 2023
€4.6m
Gross operating margin
+€7.8m
Staff costs
+€14,254
Depreciation
-€6,736
Other operating charges
-€16,605
Financial income
+€7.5m
Financial charges
-€2.3m
Taxes
-€2.7m
Result 2024
€14.9m
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€6.6m
Investment
-€37.0m
Financing
+€30.1m
Cash 2023
€5.3m
From operations (derived)
+€6.6m
Net result for the year
+€14.9m
Depreciation
+€30,870
Receivables after one year
-€5.1m
Smaller working-capital items
+€28,378
Deferred charges and accrued income
-€1.2m
Trade debts
-€427,255
Accrued charges and deferred income
-€1.6m
Investment (derived)
-€37.0m
Investment in fixed assets (net)
-€88,699
Current investments
-€36.9m
Financing
+€30.1m
Debts after one year
+€30.1m
Cash 2024
€5.0m
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €418,530,570 | €461,384,967 | +€42.9m | +10.2% |
| Fixed assets | 21/28 | €219,205,632 | €219,263,462 | +€57,830 | 0.0% |
| Tangible fixed assets | 22/27 | €62,024 | €119,854 | +€57,830 | +93.2% |
| Plant, machinery and equipment | 23 | - | €2,144 | +€2,144 | |
| Furniture and vehicles | 24 | €62,024 | €117,709 | +€55,685 | +89.8% |
| Financial fixed assets | 28 | €219,143,608 | €219,143,608 | = | 0.0% |
| Current assets | 29/58 | €199,324,938 | €242,121,505 | +€42.8m | +21.5% |
| Amounts receivable after more than one year | 29 | €39,427,001 | €44,529,558 | +€5.1m | +12.9% |
| Other amounts receivable | 291 | €39,427,001 | €44,529,558 | +€5.1m | +12.9% |
| Amounts receivable within one year | 40/41 | €3,216,383 | €3,175,082 | -€41,301 | -1.3% |
| Trade receivables | 40 | €232,383 | €1,794,944 | +€1.6m | +672.4% |
| Other amounts receivable | 41 | €2,984,000 | €1,380,138 | -€1.6m | -53.7% |
| Current investments | 50/53 | €148,611,878 | €185,474,558 | +€36.9m | +24.8% |
| Cash at bank and in hand | 54/58 | €5,297,734 | €4,989,964 | -€307,770 | -5.8% |
| Deferred charges and accrued income | 490/1 | €2,771,941 | €3,952,343 | +€1.2m | +42.6% |
| Total equity and liabilities | 10/49 | €418,530,570 | €461,384,967 | +€42.9m | +10.2% |
| Equity | 10/15 | €241,388,263 | €256,272,354 | +€14.9m | +6.2% |
| Contributions | 10/11 | €240,502,000 | €240,502,000 | = | 0.0% |
| Reserves | 13 | €886,263 | €15,770,354 | +€14.9m | +1679.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | - | €997,770 | +€997,770 | |
| Distributable reserves | 133 | €886,263 | €14,772,584 | +€13.9m | +1566.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €177,142,307 | €205,112,613 | +€28.0m | +15.8% |
| Amounts payable after more than one year | 17 | €170,805,320 | €200,864,104 | +€30.1m | +17.6% |
| Other amounts payable | 178/9 | €170,805,320 | €200,864,104 | +€30.1m | +17.6% |
| Amounts payable within one year | 42/48 | €493,203 | €53,025 | -€440,178 | -89.2% |
| Financial debts | 43 | €0 | - | = | |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €434,055 | €6,801 | -€427,255 | -98.4% |
| Suppliers | 440/4 | €434,055 | €6,801 | -€427,255 | -98.4% |
| Taxes, remuneration and social security | 45 | €59,148 | €46,224 | -€12,923 | -21.8% |
| Taxes | 450/3 | €17,392 | €2,611 | -€14,781 | -85.0% |
| Remuneration and social security | 454/9 | €41,756 | €43,613 | +€1,857 | +4.4% |
| Accrued charges and deferred income | 492/3 | €5,843,784 | €4,195,484 | -€1.6m | -28.2% |
| Remuneration, social security and pensions | 62 | €280,900 | €266,645 | -€14,254 | -5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,133 | €30,870 | +€6,736 | +27.9% |
| Other operating charges | 640/8 | €36,122 | €52,727 | +€16,605 | +46.0% |
| Gross operating margin | 9900 | €338,956 | €8,168,093 | +€7.8m | +2309.8% |
| Operating profit (loss) | 9901 | -€2,199 | €7,817,852 | +€7.8m | |
| Financial income | 75/76B | €7,301,050 | €14,753,527 | +€7.5m | +102.1% |
| Recurring financial income | 75 | €7,301,050 | €14,753,527 | +€7.5m | +102.1% |
| Financial charges | 65/66B | €2,406,171 | €4,659,730 | +€2.3m | +93.7% |
| Recurring financial charges | 65 | €2,406,171 | €4,659,730 | +€2.3m | +93.7% |
| Profit (loss) for the period before taxes | 9903 | €4,892,680 | €17,911,649 | +€13.0m | +266.1% |
| Income taxes | 67/77 | €295,378 | €3,027,558 | +€2.7m | +925.0% |
| Profit (loss) for the period | 9904 | €4,597,302 | €14,884,091 | +€10.3m | +223.8% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Transfer to tax-exempt reserves | 689 | - | €997,770 | +€997,770 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,597,302 | €13,886,321 | +€9.3m | +202.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.