BERFIL: 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
BERFIL
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€5,663
2024 · €6,481-€818
Equity
€738,851
2024 · €733,188+€5,663
Cash
€122,627
2024 · €134,895-€12,268
Balance sheet total
€2.3m
2024 · €2.5m-€144,121
Largest movements
Assets
- Tangible fixed assets -€71,623
down €71,623 (-3.5%), from €2.0m to €2.0m
of which Land and buildings: -€68,824
- Receivables within one year -€56,275
down €56,275 (-20.0%), from €281,105 to €224,829
of which Trade receivables: -€57,551
Equity and liabilities
- Debts after one year -€102,290
down €102,290 (-7.4%), from €1.4m to €1.3m
- Other debts -€36,924
down €36,924 (-55.5%), from €66,556 to €29,631
- Advances received +€25,813
new in 2025: €25,813
Income statement
- Gross operating margin +€42,226
up €42,226 (+22.8%), from €184,875 to €227,101
- Staff costs +€24,849
up €24,849 (+33.6%), from €73,965 to €98,814
- Depreciation +€14,205
up €14,205 (+24.7%), from €57,418 to €71,623
- Financial charges +€6,170
up €6,170 (+13.8%), from €44,662 to €50,832
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
€6,481
Gross operating margin
+€42,226
Staff costs
-€24,849
Depreciation
-€14,205
Other operating charges
+€2,202
Financial income
+€35
Financial charges
-€6,170
Taxes
-€57
Result 2025
€5,663
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.
From operations
+€107,698
Investment
€0
Financing
-€119,966
Cash 2024
€134,895
From operations (derived)
+€107,698
Net result for the year
+€5,663
Depreciation
+€71,623
Receivables within one year
+€56,275
Deferred charges and accrued income
+€3,954
Provisions
-€434
Trade debts
-€6,716
Tax, wage and social debts
-€11,555
Advances received
+€25,813
Other debts
-€36,924
Financing
-€119,966
Debts after one year
-€102,290
Current portion of long-term debt
-€17,676
Cash 2025
€122,627
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,466,344 | €2,322,223 | -€144,121 | -5.8% |
| Fixed assets | 21/28 | €2,045,809 | €1,974,186 | -€71,623 | -3.5% |
| Tangible fixed assets | 22/27 | €2,029,609 | €1,957,986 | -€71,623 | -3.5% |
| Land and buildings | 22 | €2,012,645 | €1,943,821 | -€68,824 | -3.4% |
| Plant, machinery and equipment | 23 | €1,413 | €545 | -€867 | -61.4% |
| Furniture and vehicles | 24 | €528 | - | -€528 | |
| Assets under construction and advance payments | 27 | €15,024 | €13,620 | -€1,404 | -9.3% |
| Financial fixed assets | 28 | €16,200 | €16,200 | = | 0.0% |
| Current assets | 29/58 | €420,534 | €348,036 | -€72,498 | -17.2% |
| Amounts receivable within one year | 40/41 | €281,105 | €224,829 | -€56,275 | -20.0% |
| Trade receivables | 40 | €159,708 | €102,157 | -€57,551 | -36.0% |
| Other amounts receivable | 41 | €121,397 | €122,672 | +€1,276 | +1.1% |
| Cash at bank and in hand | 54/58 | €134,895 | €122,627 | -€12,268 | -9.1% |
| Deferred charges and accrued income | 490/1 | €4,534 | €580 | -€3,954 | -87.2% |
| Total equity and liabilities | 10/49 | €2,466,344 | €2,322,223 | -€144,121 | -5.8% |
| Equity | 10/15 | €733,188 | €738,851 | +€5,663 | +0.8% |
| Contributions | 10/11 | €61,975 | €61,975 | = | 0.0% |
| Capital | 10 | €61,975 | €61,975 | = | 0.0% |
| Issued capital | 100 | €61,975 | €61,975 | = | 0.0% |
| Reserves | 13 | €290,175 | €288,873 | -€1,303 | -0.4% |
| Non-distributable reserves | 130/1 | €6,198 | €6,198 | = | 0.0% |
| Legal reserve | 130 | €6,198 | €6,198 | = | 0.0% |
| Tax-exempt reserves | 132 | €283,978 | €282,675 | -€1,303 | -0.5% |
| Profit (loss) carried forward | 14 | €381,038 | €388,003 | +€6,965 | +1.8% |
| Provisions and deferred taxes | 16 | €94,659 | €94,225 | -€434 | -0.5% |
| Deferred taxes | 168 | €94,659 | €94,225 | -€434 | -0.5% |
| Amounts payable | 17/49 | €1,638,496 | €1,489,147 | -€149,349 | -9.1% |
| Amounts payable after more than one year | 17 | €1,383,257 | €1,280,967 | -€102,290 | -7.4% |
| Financial debts | 170/4 | €1,383,257 | €1,280,967 | -€102,290 | -7.4% |
| Amounts payable within one year | 42/48 | €255,239 | €208,180 | -€47,059 | -18.4% |
| Current portion of amounts payable after more than one year | 42 | €116,932 | €99,256 | -€17,676 | -15.1% |
| Trade debts | 44 | €41,497 | €34,781 | -€6,716 | -16.2% |
| Suppliers | 440/4 | €41,497 | €34,781 | -€6,716 | -16.2% |
| Advances received on contracts in progress | 46 | - | €25,813 | +€25,813 | |
| Taxes, remuneration and social security | 45 | €30,255 | €18,699 | -€11,555 | -38.2% |
| Taxes | 450/3 | €30,255 | €15,091 | -€15,164 | -50.1% |
| Remuneration and social security | 454/9 | - | €3,609 | +€3,609 | |
| Other amounts payable | 47/48 | €66,556 | €29,631 | -€36,924 | -55.5% |
| Remuneration, social security and pensions | 62 | €73,965 | €98,814 | +€24,849 | +33.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,418 | €71,623 | +€14,205 | +24.7% |
| Other operating charges | 640/8 | €2,574 | €372 | -€2,202 | -85.6% |
| Gross operating margin | 9900 | €184,875 | €227,101 | +€42,226 | +22.8% |
| Operating profit (loss) | 9901 | €50,918 | €56,293 | +€5,374 | +10.6% |
| Financial income | 75/76B | - | €35 | +€35 | |
| Recurring financial income | 75 | - | €35 | +€35 | |
| Financial charges | 65/66B | €44,662 | €50,832 | +€6,170 | +13.8% |
| Recurring financial charges | 65 | €44,662 | €50,832 | +€6,170 | +13.8% |
| Profit (loss) for the period before taxes | 9903 | €6,256 | €5,495 | -€761 | -12.2% |
| Transfer from deferred taxes | 780 | €434 | €434 | = | 0.0% |
| Income taxes | 67/77 | €210 | €266 | +€57 | +27.0% |
| Profit (loss) for the period | 9904 | €6,481 | €5,663 | -€818 | -12.6% |
| Transfer from tax-exempt reserves | 789 | €1,303 | €1,303 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,783 | €6,965 | -€818 | -10.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.