BERMAG: 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.
BERMAG
Largest movements
- Cash -€652,872
down €652,872 (-81.8%), from €798,009 to €145,138
mainly Current investments (-€608,348) and Net result for the year (-€95,958)
- Current investments +€608,348
new in 2025: €608,348
- Tangible fixed assets -€29,790
down €29,790 (-3.1%), from €965,086 to €935,296
- Profit (loss) carried forward -€95,958
down €95,958 (-7.7%), from €1.2m to €1.2m
- Gross operating margin -€58,194
down €58,194, from €11,093 to -€47,101
- Financial income -€10,617
down €10,617 (-55.5%), from €19,122 to €8,505
- Other operating charges +€8,289
up €8,289 (+43.8%), from €18,921 to €27,210
- Taxes -€5,485
no longer reported in 2025 (was €5,485)
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 | €1,770,558 | €1,692,231 | -€78,328 | -4.4% |
| Fixed assets | 21/28 | €965,086 | €935,296 | -€29,790 | -3.1% |
| Tangible fixed assets | 22/27 | €965,086 | €935,296 | -€29,790 | -3.1% |
| Land and buildings | 22 | €965,086 | €935,296 | -€29,790 | -3.1% |
| Current assets | 29/58 | €805,473 | €756,935 | -€48,538 | -6.0% |
| Amounts receivable within one year | 40/41 | €5,394 | €1,584 | -€3,810 | -70.6% |
| Other amounts receivable | 41 | €5,394 | €1,584 | -€3,810 | -70.6% |
| Current investments | 50/53 | - | €608,348 | +€608,348 | |
| Cash at bank and in hand | 54/58 | €798,009 | €145,138 | -€652,872 | -81.8% |
| Deferred charges and accrued income | 490/1 | €2,069 | €1,865 | -€204 | -9.8% |
| Total equity and liabilities | 10/49 | €1,770,558 | €1,692,231 | -€78,328 | -4.4% |
| Equity | 10/15 | €1,769,950 | €1,673,992 | -€95,958 | -5.4% |
| Contributions | 10/11 | €405,455 | €405,455 | = | 0.0% |
| Capital | 10 | €405,455 | €405,455 | = | 0.0% |
| Issued capital | 100 | €405,455 | €405,455 | = | 0.0% |
| Reserves | 13 | €116,181 | €116,181 | = | 0.0% |
| Non-distributable reserves | 130/1 | €40,545 | €40,545 | = | 0.0% |
| Legal reserve | 130 | €40,545 | €40,545 | = | 0.0% |
| Distributable reserves | 133 | €75,636 | €75,636 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,248,314 | €1,152,356 | -€95,958 | -7.7% |
| Amounts payable | 17/49 | €608 | €18,239 | +€17,631 | +2,900% |
| Amounts payable within one year | 42/48 | €608 | €18,239 | +€17,631 | +2,900% |
| Trade debts | 44 | €608 | €18,239 | +€17,631 | +2,900% |
| Suppliers | 440/4 | €608 | €18,239 | +€17,631 | +2,900% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,790 | €29,790 | = | 0.0% |
| Other operating charges | 640/8 | €18,921 | €27,210 | +€8,289 | +43.8% |
| Gross operating margin | 9900 | €11,093 | -€47,101 | -€58,194 | |
| Operating profit (loss) | 9901 | -€37,619 | -€104,102 | -€66,483 | -177% |
| Financial income | 75/76B | €19,122 | €8,505 | -€10,617 | -55.5% |
| Recurring financial income | 75 | €19,122 | €8,505 | -€10,617 | -55.5% |
| Financial charges | 65/66B | €136 | €361 | +€225 | +165% |
| Recurring financial charges | 65 | €136 | €361 | +€225 | +165% |
| Profit (loss) for the period before taxes | 9903 | -€18,633 | -€95,958 | -€77,325 | -415% |
| Income taxes | 67/77 | €5,485 | - | -€5,485 | |
| Profit (loss) for the period | 9904 | -€24,118 | -€95,958 | -€71,840 | -298% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,118 | -€95,958 | -€71,840 | -298% |
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 16 October 2026 via checked.be.