Berger: 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.
Berger
Largest movements
- Tangible fixed assets +€1.1m
up €1.1m (+76.7%), from €1.4m to €2.5m
of which Leasing and similar rights: +€1.2m
- Receivables within one year -€225,677
down €225,677 (-26.1%), from €865,148 to €639,472
of which Trade receivables: -€212,281
- Cash +€215,266
up €215,266 (+84.7%), from €254,166 to €469,432
mainly Debts after one year (+€701,016) and Depreciation (+€508,383)
- Financial fixed assets -€97,450
down €97,450 (-96.5%), from €101,015 to €3,565
- Debts after one year +€701,016
up €701,016 (+105%), from €670,736 to €1.4m
- Trade debts +€166,417
up €166,417 (+127%), from €130,805 to €297,222
- Profit (loss) carried forward +€79,983
up €79,983 (+42.9%), from €186,478 to €266,462
- Current portion of long-term debt +€71,855
up €71,855 (+18.3%), from €391,662 to €463,517
- Financial charges +€112,285
up €112,285 (+274%), from €41,010 to €153,294
- Gross operating margin +€42,073
up €42,073 (+5.7%), from €740,365 to €782,438
- Depreciation -€40,050
down €40,050 (-7.3%), from €548,433 to €508,383
- Taxes -€22,259
no longer reported in 2025 (was €22,259)
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 | €2,644,516 | €3,621,732 | +€977,216 | +37.0% |
| Fixed assets | 21/28 | €1,503,281 | €2,480,965 | +€977,684 | +65.0% |
| Tangible fixed assets | 22/27 | €1,402,266 | €2,477,400 | +€1.1m | +76.7% |
| Land and buildings | 22 | €13,619 | €12,547 | -€1,073 | -7.9% |
| Plant, machinery and equipment | 23 | €20,028 | €15,418 | -€4,610 | -23.0% |
| Furniture and vehicles | 24 | €338,724 | €291,422 | -€47,302 | -14.0% |
| Leasing and similar rights | 25 | €1,005,694 | €2,158,013 | +€1.2m | +115% |
| Other tangible fixed assets | 26 | €24,200 | - | -€24,200 | |
| Financial fixed assets | 28 | €101,015 | €3,565 | -€97,450 | -96.5% |
| Current assets | 29/58 | €1,141,235 | €1,140,767 | -€468 | 0.0% |
| Amounts receivable within one year | 40/41 | €865,148 | €639,472 | -€225,677 | -26.1% |
| Trade receivables | 40 | €823,653 | €611,372 | -€212,281 | -25.8% |
| Other amounts receivable | 41 | €41,495 | €28,100 | -€13,396 | -32.3% |
| Cash at bank and in hand | 54/58 | €254,166 | €469,432 | +€215,266 | +84.7% |
| Deferred charges and accrued income | 490/1 | €21,920 | €31,864 | +€9,943 | +45.4% |
| Total equity and liabilities | 10/49 | €2,644,516 | €3,621,732 | +€977,216 | +37.0% |
| Equity | 10/15 | €1,195,513 | €1,275,496 | +€79,983 | +6.7% |
| Contributions | 10/11 | €372,614 | €372,614 | = | 0.0% |
| Reserves | 13 | €636,421 | €636,421 | = | 0.0% |
| Non-distributable reserves | 130/1 | €37,261 | €37,261 | = | 0.0% |
| Reserves not available under the articles | 1311 | €37,261 | €37,261 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,181 | €8,181 | = | 0.0% |
| Distributable reserves | 133 | €590,979 | €590,979 | = | 0.0% |
| Profit (loss) carried forward | 14 | €186,478 | €266,462 | +€79,983 | +42.9% |
| Amounts payable | 17/49 | €1,449,003 | €2,346,236 | +€897,233 | +61.9% |
| Amounts payable after more than one year | 17 | €670,736 | €1,371,752 | +€701,016 | +105% |
| Financial debts | 170/4 | €670,736 | €1,371,752 | +€701,016 | +105% |
| Amounts payable within one year | 42/48 | €778,267 | €974,484 | +€196,217 | +25.2% |
| Current portion of amounts payable after more than one year | 42 | €391,662 | €463,517 | +€71,855 | +18.3% |
| Financial debts | 43 | €200,000 | €200,000 | = | 0.0% |
| Other loans | 439 | €200,000 | €200,000 | = | 0.0% |
| Trade debts | 44 | €130,805 | €297,222 | +€166,417 | +127% |
| Suppliers | 440/4 | €130,805 | €297,222 | +€166,417 | +127% |
| Taxes, remuneration and social security | 45 | €25,971 | €13,572 | -€12,400 | -47.7% |
| Taxes | 450/3 | €25,971 | €11,041 | -€14,930 | -57.5% |
| Remuneration and social security | 454/9 | - | €2,531 | +€2,531 | |
| Other amounts payable | 47/48 | €29,828 | €173 | -€29,656 | -99.4% |
| Non-recurring operating income | 76A | €6,150 | €182,100 | +€175,950 | +2,861% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €548,433 | €508,383 | -€40,050 | -7.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €858 | +€858 | |
| Other operating charges | 640/8 | €14,623 | €16,774 | +€2,151 | +14.7% |
| Non-recurring operating charges | 66A | - | €24,200 | +€24,200 | |
| Gross operating margin | 9900 | €740,365 | €782,438 | +€42,073 | +5.7% |
| Operating profit (loss) | 9901 | €177,309 | €232,224 | +€54,915 | +31.0% |
| Financial income | 75/76B | €84 | €1,054 | +€970 | +1,154% |
| Recurring financial income | 75 | €84 | €1,054 | +€970 | +1,154% |
| Financial charges | 65/66B | €41,010 | €153,294 | +€112,285 | +274% |
| Recurring financial charges | 65 | €41,010 | €153,294 | +€112,285 | +274% |
| Profit (loss) for the period before taxes | 9903 | €136,384 | €79,983 | -€56,400 | -41.4% |
| Income taxes | 67/77 | €22,259 | - | -€22,259 | |
| Profit (loss) for the period | 9904 | €114,125 | €79,983 | -€34,142 | -29.9% |
| Profit (loss) for the period to be appropriated | 9905 | €114,125 | €79,983 | -€34,142 | -29.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.