BERDO: 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.
BERDO
Largest movements
- Tangible fixed assets -€20,014
down €20,014 (-8.3%), from €241,460 to €221,445
- Cash +€12,293
up €12,293 (+13.8%), from €89,001 to €101,295
mainly Net result for the year (+€76,475) and Other debts (+€45,769)
- Other debts +€45,769
up €45,769 (+47.6%), from €96,254 to €142,023
- Reserves -€19,855
down €19,855 (-2.7%), from €733,920 to €714,065
- Current portion of long-term debt -€14,787
down €14,787 (-52.4%), from €28,236 to €13,449
- Debts after one year -€13,449
down €13,449 (-100%), from €13,449 to €0
- Financial income +€35,561
up €35,561 (+539%), from €6,592 to €42,153
- Gross operating margin -€22,324
down €22,324 (-15.0%), from €149,005 to €126,681
- Taxes +€6,356
up €6,356 (+20.2%), from €31,433 to €37,789
- Depreciation -€4,680
down €4,680 (-13.3%), from €35,311 to €30,631
- Financial charges +€3,846
up €3,846 (+108%), from €3,572 to €7,418
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 | €899,324 | €897,710 | -€1,614 | -0.2% |
| Fixed assets | 21/28 | €241,496 | €221,482 | -€20,014 | -8.3% |
| Tangible fixed assets | 22/27 | €241,460 | €221,445 | -€20,014 | -8.3% |
| Land and buildings | 22 | €202,728 | €193,760 | -€8,968 | -4.4% |
| Plant, machinery and equipment | 23 | €4,622 | €3,049 | -€1,573 | -34.0% |
| Furniture and vehicles | 24 | €31,039 | €21,566 | -€9,473 | -30.5% |
| Other tangible fixed assets | 26 | €3,071 | €3,071 | = | 0.0% |
| Financial fixed assets | 28 | €36 | €36 | = | 0.0% |
| Current assets | 29/58 | €657,828 | €676,228 | +€18,401 | +2.8% |
| Amounts receivable within one year | 40/41 | €2,455 | €7,589 | +€5,134 | +209% |
| Trade receivables | 40 | €759 | €2,198 | +€1,439 | +189% |
| Other amounts receivable | 41 | €1,696 | €5,391 | +€3,695 | +218% |
| Current investments | 50/53 | €562,096 | €562,096 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €89,001 | €101,295 | +€12,293 | +13.8% |
| Deferred charges and accrued income | 490/1 | €4,275 | €5,248 | +€973 | +22.8% |
| Total equity and liabilities | 10/49 | €899,324 | €897,710 | -€1,614 | -0.2% |
| Equity | 10/15 | €752,520 | €732,665 | -€19,855 | -2.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €733,920 | €714,065 | -€19,855 | -2.7% |
| Distributable reserves | 133 | €733,920 | €714,065 | -€19,855 | -2.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €146,804 | €165,045 | +€18,241 | +12.4% |
| Amounts payable after more than one year | 17 | €13,449 | €0 | -€13,449 | -100% |
| Financial debts | 170/4 | €13,449 | €0 | -€13,449 | -100% |
| Amounts payable within one year | 42/48 | €133,355 | €165,045 | +€31,690 | +23.8% |
| Current portion of amounts payable after more than one year | 42 | €28,236 | €13,449 | -€14,787 | -52.4% |
| Trade debts | 44 | €1,677 | €1,786 | +€109 | +6.5% |
| Suppliers | 440/4 | €1,677 | €1,786 | +€109 | +6.5% |
| Taxes, remuneration and social security | 45 | €7,188 | €7,787 | +€598 | +8.3% |
| Taxes | 450/3 | €5,537 | €6,337 | +€800 | +14.5% |
| Remuneration and social security | 454/9 | €1,651 | €1,449 | -€202 | -12.2% |
| Other amounts payable | 47/48 | €96,254 | €142,023 | +€45,769 | +47.6% |
| Remuneration, social security and pensions | 62 | €11,666 | €11,917 | +€251 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,311 | €30,631 | -€4,680 | -13.3% |
| Other operating charges | 640/8 | €4,431 | €4,603 | +€171 | +3.9% |
| Gross operating margin | 9900 | €149,005 | €126,681 | -€22,324 | -15.0% |
| Operating profit (loss) | 9901 | €97,596 | €79,530 | -€18,066 | -18.5% |
| Financial income | 75/76B | €6,592 | €42,153 | +€35,561 | +539% |
| Recurring financial income | 75 | €6,592 | €42,153 | +€35,561 | +539% |
| Financial charges | 65/66B | €3,572 | €7,418 | +€3,846 | +108% |
| Recurring financial charges | 65 | €3,572 | €7,418 | +€3,846 | +108% |
| Profit (loss) for the period before taxes | 9903 | €100,616 | €114,264 | +€13,648 | +13.6% |
| Income taxes | 67/77 | €31,433 | €37,789 | +€6,356 | +20.2% |
| Profit (loss) for the period | 9904 | €69,183 | €76,475 | +€7,292 | +10.5% |
| Profit (loss) for the period to be appropriated | 9905 | €69,183 | €76,475 | +€7,292 | +10.5% |
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 15 October 2026 via checked.be.