BERMAK: 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.
BERMAK
Largest movements
- Receivables within one year +€87,294
up €87,294 (+183.6%), from €47,548 to €134,842
of which Other amounts receivable: +€86,224
- Cash -€30,107
down €30,107 (-99.7%), from €30,203 to €95
mainly Receivables within one year (-€87,294) and Tax, wage and social debts (-€26,674)
- Reserves +€42,639
up €42,639 (+46.4%), from €91,847 to €134,485
of which Distributable reserves: +€42,639
- Tax, wage and social debts -€26,674
down €26,674 (-47.1%), from €56,688 to €30,014
of which Taxes: -€26,692
- Other debts +€25,529
up €25,529 (+23.2%), from €109,895 to €135,424
- Accrued charges and deferred income +€4,908
up €4,908 (+65.3%), from €7,517 to €12,425
- Trade debts +€4,876
up €4,876 (+414.8%), from €1,175 to €6,051
- Gross operating margin +€26,302
up €26,302 (+45.0%), from €58,416 to €84,718
- Taxes +€6,344
up €6,344 (+33.8%), from €18,768 to €25,112
- Financial charges +€3,250
up €3,250 (+42.5%), from €7,638 to €10,888
- Other operating charges +€2,746
up €2,746 (+223.2%), from €1,230 to €3,977
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 | €299,294 | €351,086 | +€51,792 | +17.3% |
| Fixed assets | 21/28 | €215,691 | €213,578 | -€2,113 | -1.0% |
| Tangible fixed assets | 22/27 | €15,841 | €13,728 | -€2,113 | -13.3% |
| Plant, machinery and equipment | 23 | €266 | €53 | -€213 | -80.0% |
| Other tangible fixed assets | 26 | €15,575 | €13,675 | -€1,899 | -12.2% |
| Financial fixed assets | 28 | €199,850 | €199,850 | = | 0.0% |
| Current assets | 29/58 | €83,603 | €137,508 | +€53,905 | +64.5% |
| Amounts receivable within one year | 40/41 | €47,548 | €134,842 | +€87,294 | +183.6% |
| Trade receivables | 40 | €16,535 | €17,606 | +€1,071 | +6.5% |
| Other amounts receivable | 41 | €31,013 | €117,237 | +€86,224 | +278.0% |
| Cash at bank and in hand | 54/58 | €30,203 | €95 | -€30,107 | -99.7% |
| Deferred charges and accrued income | 490/1 | €5,852 | €2,570 | -€3,282 | -56.1% |
| Total equity and liabilities | 10/49 | €299,294 | €351,086 | +€51,792 | +17.3% |
| Equity | 10/15 | €120,963 | €163,602 | +€42,639 | +35.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €91,847 | €134,485 | +€42,639 | +46.4% |
| Tax-exempt reserves | 132 | €26,545 | €26,545 | = | 0.0% |
| Distributable reserves | 133 | €65,302 | €107,940 | +€42,639 | +65.3% |
| Profit (loss) carried forward | 14 | €22,916 | €22,916 | = | 0.0% |
| Amounts payable | 17/49 | €178,331 | €187,484 | +€9,154 | +5.1% |
| Amounts payable within one year | 42/48 | €170,813 | €175,059 | +€4,246 | +2.5% |
| Current portion of amounts payable after more than one year | 42 | €3,055 | €3,570 | +€515 | +16.9% |
| Trade debts | 44 | €1,175 | €6,051 | +€4,876 | +414.8% |
| Suppliers | 440/4 | €1,175 | €6,051 | +€4,876 | +414.8% |
| Taxes, remuneration and social security | 45 | €56,688 | €30,014 | -€26,674 | -47.1% |
| Taxes | 450/3 | €52,223 | €25,531 | -€26,692 | -51.1% |
| Remuneration and social security | 454/9 | €4,465 | €4,483 | +€18 | +0.4% |
| Other amounts payable | 47/48 | €109,895 | €135,424 | +€25,529 | +23.2% |
| Accrued charges and deferred income | 492/3 | €7,517 | €12,425 | +€4,908 | +65.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,250 | €2,113 | -€137 | -6.1% |
| Other operating charges | 640/8 | €1,230 | €3,977 | +€2,746 | +223.2% |
| Gross operating margin | 9900 | €58,416 | €84,718 | +€26,302 | +45.0% |
| Operating profit (loss) | 9901 | €54,936 | €78,629 | +€23,693 | +43.1% |
| Financial income | 75/76B | €853 | €10 | -€842 | -98.8% |
| Recurring financial income | 75 | €853 | €10 | -€842 | -98.8% |
| Financial charges | 65/66B | €7,638 | €10,888 | +€3,250 | +42.5% |
| Recurring financial charges | 65 | €7,638 | €10,888 | +€3,250 | +42.5% |
| Profit (loss) for the period before taxes | 9903 | €48,150 | €67,751 | +€19,601 | +40.7% |
| Income taxes | 67/77 | €18,768 | €25,112 | +€6,344 | +33.8% |
| Profit (loss) for the period | 9904 | €29,383 | €42,639 | +€13,256 | +45.1% |
| Profit (loss) for the period to be appropriated | 9905 | €29,383 | €42,639 | +€13,256 | +45.1% |
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 5 October 2026 via checked.be.