BERLUC: 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.
BERLUC
Largest movements
- Current investments +€80,727
up €80,727 (+22.9%), from €352,064 to €432,790
- Cash -€28,595
down €28,595 (-10.8%), from €264,591 to €235,996
mainly Current investments (-€80,727) and Tax, wage and social debts (-€9,904)
- Tangible fixed assets -€16,728
down €16,728 (-3.9%), from €423,806 to €407,078
of which Land and buildings: -€16,728
- Profit (loss) carried forward +€43,574
up €43,574 (+1727.4%), from €2,523 to €46,097
- Financial charges -€72,151
down €72,151, from €65,012 to -€7,139
- Financial income +€42,434
up €42,434 (+189.3%), from €22,419 to €64,853
- Gross operating margin -€32,953
down €32,953, from €28,120 to -€4,834
- Taxes -€13,331
down €13,331, from €12,321 to -€1,011
- Depreciation -€10,018
down €10,018 (-37.5%), from €26,746 to €16,728
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,046,077 | €1,080,449 | +€34,371 | +3.3% |
| Fixed assets | 21/28 | €423,806 | €407,078 | -€16,728 | -3.9% |
| Tangible fixed assets | 22/27 | €423,806 | €407,078 | -€16,728 | -3.9% |
| Land and buildings | 22 | €423,806 | €407,078 | -€16,728 | -3.9% |
| Furniture and vehicles | 24 | - | €0 | +€0 | |
| Current assets | 29/58 | €622,272 | €673,371 | +€51,099 | +8.2% |
| Amounts receivable within one year | 40/41 | €2,992 | €4,585 | +€1,593 | +53.2% |
| Other amounts receivable | 41 | €2,992 | €4,585 | +€1,593 | +53.2% |
| Current investments | 50/53 | €352,064 | €432,790 | +€80,727 | +22.9% |
| Cash at bank and in hand | 54/58 | €264,591 | €235,996 | -€28,595 | -10.8% |
| Deferred charges and accrued income | 490/1 | €2,625 | €0 | -€2,625 | -100.0% |
| Total equity and liabilities | 10/49 | €1,046,077 | €1,080,449 | +€34,371 | +3.3% |
| Equity | 10/15 | €1,032,178 | €1,075,752 | +€43,574 | +4.2% |
| Contributions | 10/11 | €936,050 | €936,050 | = | 0.0% |
| Capital | 10 | €936,050 | €936,050 | = | 0.0% |
| Issued capital | 100 | €936,050 | €936,050 | = | 0.0% |
| Reserves | 13 | €93,605 | €93,605 | = | 0.0% |
| Non-distributable reserves | 130/1 | €93,605 | €93,605 | = | 0.0% |
| Legal reserve | 130 | €93,605 | €93,605 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,523 | €46,097 | +€43,574 | +1727.4% |
| Amounts payable | 17/49 | €13,900 | €4,697 | -€9,203 | -66.2% |
| Amounts payable within one year | 42/48 | €13,900 | €4,697 | -€9,203 | -66.2% |
| Trade debts | 44 | €574 | €1,645 | +€1,071 | +186.7% |
| Suppliers | 440/4 | €574 | €1,645 | +€1,071 | +186.7% |
| Taxes, remuneration and social security | 45 | €9,904 | - | -€9,904 | |
| Taxes | 450/3 | €9,904 | - | -€9,904 | |
| Other amounts payable | 47/48 | €3,422 | €3,052 | -€370 | -10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,746 | €16,728 | -€10,018 | -37.5% |
| Other operating charges | 640/8 | €7,497 | €7,867 | +€370 | +4.9% |
| Gross operating margin | 9900 | €28,120 | -€4,834 | -€32,953 | |
| Operating profit (loss) | 9901 | -€6,123 | -€29,428 | -€23,305 | -380.6% |
| Financial income | 75/76B | €22,419 | €64,853 | +€42,434 | +189.3% |
| Recurring financial income | 75 | €22,419 | €64,853 | +€42,434 | +189.3% |
| Financial charges | 65/66B | €65,012 | -€7,139 | -€72,151 | |
| Recurring financial charges | 65 | €65,012 | -€7,139 | -€72,151 | |
| Profit (loss) for the period before taxes | 9903 | -€48,717 | €42,563 | +€91,280 | |
| Transfer from deferred taxes | 780 | €52,319 | €0 | -€52,319 | -100.0% |
| Income taxes | 67/77 | €12,321 | -€1,011 | -€13,331 | |
| Profit (loss) for the period | 9904 | -€8,718 | €43,574 | +€52,292 | |
| Transfer from tax-exempt reserves | 789 | €122,078 | €0 | -€122,078 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €113,360 | €43,574 | -€69,786 | -61.6% |
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.