BERLUSAN: 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.
BERLUSAN
Largest movements
- Cash +€21,442
up €21,442 (+20.5%), from €104,376 to €125,818
mainly Depreciation (+€19,572) and Net result for the year (+€9,997)
- Tangible fixed assets -€19,183
down €19,183 (-6.2%), from €306,962 to €287,780
of which Land and buildings: -€11,573
- Reserves +€9,997
up €9,997 (+14.6%), from €68,555 to €78,552
- Other debts -€6,840
down €6,840 (-2.3%), from €300,284 to €293,444
- Gross operating margin +€5,781
up €5,781 (+5.7%), from €101,877 to €107,658
- Depreciation -€3,934
down €3,934 (-16.7%), from €23,506 to €19,572
- Staff costs +€3,769
up €3,769 (+6.7%), from €55,927 to €59,695
- Taxes +€1,968
up €1,968 (+59.2%), from €3,324 to €5,292
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 | €418,490 | €423,601 | +€5,111 | +1.2% |
| Fixed assets | 21/28 | €307,012 | €287,829 | -€19,183 | -6.2% |
| Tangible fixed assets | 22/27 | €306,962 | €287,780 | -€19,183 | -6.2% |
| Land and buildings | 22 | €279,469 | €267,897 | -€11,573 | -4.1% |
| Plant, machinery and equipment | 23 | €721 | €415 | -€306 | -42.4% |
| Furniture and vehicles | 24 | €26,772 | €19,468 | -€7,305 | -27.3% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €111,478 | €135,772 | +€24,294 | +21.8% |
| Amounts receivable within one year | 40/41 | €2,406 | €4,922 | +€2,516 | +105% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €2,406 | €4,922 | +€2,516 | +105% |
| Current investments | 50/53 | €347 | €347 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €104,376 | €125,818 | +€21,442 | +20.5% |
| Deferred charges and accrued income | 490/1 | €4,349 | €4,685 | +€336 | +7.7% |
| Total equity and liabilities | 10/49 | €418,490 | €423,601 | +€5,111 | +1.2% |
| Equity | 10/15 | €87,147 | €97,144 | +€9,997 | +11.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €68,555 | €78,552 | +€9,997 | +14.6% |
| Distributable reserves | 133 | €68,555 | €78,552 | +€9,997 | +14.6% |
| Amounts payable | 17/49 | €331,343 | €326,457 | -€4,886 | -1.5% |
| Amounts payable within one year | 42/48 | €329,192 | €322,939 | -€6,253 | -1.9% |
| Trade debts | 44 | €18,290 | €17,909 | -€381 | -2.1% |
| Suppliers | 440/4 | €18,290 | €17,909 | -€381 | -2.1% |
| Taxes, remuneration and social security | 45 | €10,618 | €11,586 | +€968 | +9.1% |
| Taxes | 450/3 | €3,060 | €3,552 | +€492 | +16.1% |
| Remuneration and social security | 454/9 | €7,558 | €8,034 | +€476 | +6.3% |
| Other amounts payable | 47/48 | €300,284 | €293,444 | -€6,840 | -2.3% |
| Accrued charges and deferred income | 492/3 | €2,150 | €3,517 | +€1,367 | +63.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €55,927 | €59,695 | +€3,769 | +6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,506 | €19,572 | -€3,934 | -16.7% |
| Other operating charges | 640/8 | €12,816 | €12,811 | -€5 | 0.0% |
| Non-recurring operating charges | 66A | €172 | €0 | -€172 | -100% |
| Gross operating margin | 9900 | €101,877 | €107,658 | +€5,781 | +5.7% |
| Operating profit (loss) | 9901 | €9,457 | €15,580 | +€6,123 | +64.8% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €219 | €291 | +€72 | +33.0% |
| Recurring financial charges | 65 | €219 | €291 | +€72 | +33.0% |
| Profit (loss) for the period before taxes | 9903 | €9,238 | €15,289 | +€6,051 | +65.5% |
| Income taxes | 67/77 | €3,324 | €5,292 | +€1,968 | +59.2% |
| Profit (loss) for the period | 9904 | €5,914 | €9,997 | +€4,083 | +69.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,914 | €9,997 | +€4,083 | +69.0% |
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 19 October 2026 via checked.be.