BERDIVAN: 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.
What changed
BERDIVAN
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€77,167
2024 · €24,845-€102,012
Equity
€200,211
2024 · €277,378-€77,167
Cash
€58,633
2024 · €20,099+€38,533
Balance sheet total
€4.5m
2024 · €1.4m+€3.1m
Largest movements
Assets
- Tangible fixed assets +€3.1m
up €3.1m (+247%), from €1.3m to €4.3m
of which Land and buildings: +€3.1m
Equity and liabilities
- Debts after one year +€3.1m
up €3.1m (+480%), from €646,985 to €3.8m
of which Financial debts: +€3.1m
- Current portion of long-term debt +€129,338
up €129,338 (+198%), from €65,253 to €194,591
- Profit (loss) carried forward -€77,167
down €77,167 (-34.8%), from -€221,718 to -€298,885
Income statement
- Depreciation +€208,345
up €208,345 (+244%), from €85,374 to €293,719
- Gross operating margin +€179,845
up €179,845 (+99.0%), from €181,681 to €361,526
- Financial charges +€73,703
up €73,703 (+153%), from €48,126 to €121,829
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.
Result 2024
€24,845
Gross operating margin
+€179,845
Depreciation
-€208,345
Other operating charges
+€191
Financial income
+€0
Financial charges
-€73,703
Result 2025
-€77,167
raises the resultlowers the result
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.
From operations
+€188,012
Investment
-€3.4m
Financing
+€3.2m
Cash 2024
€20,099
From operations (derived)
+€188,012
Net result for the year
-€77,167
Depreciation
+€293,719
Receivables within one year
+€24,203
Smaller working-capital items
-€3,685
Trade debts
-€29,852
Other debts
-€19,206
Investment (derived)
-€3.4m
Investment in fixed assets (net)
-€3.4m
Financing
+€3.2m
Debts after one year
+€3.1m
Current portion of long-term debt
+€129,338
Short-term financial debts
-€350
Cash 2025
€58,633
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,380,456 | €4,486,653 | +€3.1m | +225% |
| Fixed assets | 21/28 | €1,251,674 | €4,343,210 | +€3.1m | +247% |
| Tangible fixed assets | 22/27 | €1,251,674 | €4,343,210 | +€3.1m | +247% |
| Land and buildings | 22 | €1,230,615 | €4,320,709 | +€3.1m | +251% |
| Plant, machinery and equipment | 23 | €13,880 | €16,327 | +€2,447 | +17.6% |
| Furniture and vehicles | 24 | €7,179 | €6,174 | -€1,004 | -14.0% |
| Current assets | 29/58 | €128,782 | €143,443 | +€14,660 | +11.4% |
| Amounts receivable within one year | 40/41 | €99,032 | €74,828 | -€24,203 | -24.4% |
| Trade receivables | 40 | €21,236 | €23,516 | +€2,279 | +10.7% |
| Other amounts receivable | 41 | €77,795 | €51,313 | -€26,483 | -34.0% |
| Cash at bank and in hand | 54/58 | €20,099 | €58,633 | +€38,533 | +192% |
| Deferred charges and accrued income | 490/1 | €9,651 | €9,981 | +€330 | +3.4% |
| Total equity and liabilities | 10/49 | €1,380,456 | €4,486,653 | +€3.1m | +225% |
| Equity | 10/15 | €277,378 | €200,211 | -€77,167 | -27.8% |
| Contributions | 10/11 | €490,456 | €490,456 | = | 0.0% |
| Contributions outside capital | 11 | €490,456 | €490,456 | = | 0.0% |
| Other | 1109/19 | €490,456 | €490,456 | = | 0.0% |
| Reserves | 13 | €8,641 | €8,641 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,663 | €1,663 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,663 | €1,663 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,095 | €6,095 | = | 0.0% |
| Distributable reserves | 133 | €882 | €882 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€221,718 | -€298,885 | -€77,167 | -34.8% |
| Amounts payable | 17/49 | €1,103,078 | €4,286,442 | +€3.2m | +289% |
| Amounts payable after more than one year | 17 | €646,985 | €3,753,773 | +€3.1m | +480% |
| Financial debts | 170/4 | €181,985 | €3,293,773 | +€3.1m | +1,710% |
| Other amounts payable | 178/9 | €465,000 | €460,000 | -€5,000 | -1.1% |
| Amounts payable within one year | 42/48 | €408,970 | €490,934 | +€81,964 | +20.0% |
| Current portion of amounts payable after more than one year | 42 | €65,253 | €194,591 | +€129,338 | +198% |
| Financial debts | 43 | €350 | - | -€350 | |
| Credit institutions | 430/8 | €350 | - | -€350 | |
| Trade debts | 44 | €85,086 | €55,234 | -€29,852 | -35.1% |
| Suppliers | 440/4 | €85,086 | €55,234 | -€29,852 | -35.1% |
| Taxes, remuneration and social security | 45 | €15,427 | €17,460 | +€2,033 | +13.2% |
| Taxes | 450/3 | €15,427 | €17,460 | +€2,033 | +13.2% |
| Other amounts payable | 47/48 | €242,854 | €223,649 | -€19,206 | -7.9% |
| Accrued charges and deferred income | 492/3 | €47,123 | €41,735 | -€5,389 | -11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,374 | €293,719 | +€208,345 | +244% |
| Other operating charges | 640/8 | €23,336 | €23,146 | -€191 | -0.8% |
| Gross operating margin | 9900 | €181,681 | €361,526 | +€179,845 | +99.0% |
| Operating profit (loss) | 9901 | €72,971 | €44,661 | -€28,310 | -38.8% |
| Financial income | 75/76B | €0 | €0 | +€0 | +230% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +230% |
| Financial charges | 65/66B | €48,126 | €121,829 | +€73,703 | +153% |
| Recurring financial charges | 65 | €48,126 | €121,829 | +€73,703 | +153% |
| Profit (loss) for the period before taxes | 9903 | €24,845 | -€77,167 | -€102,012 | |
| Profit (loss) for the period | 9904 | €24,845 | -€77,167 | -€102,012 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,845 | -€77,167 | -€102,012 |
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 16 October 2026 via checked.be.