Bernaerts: 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.
Bernaerts
Largest movements
- Cash +€437,808
up €437,808 (+515%), from €85,052 to €522,860
mainly Current investments (+€400,000) and Net result for the year (+€228,134)
- Current investments -€400,000
no longer reported in 2025 (was €400,000)
- Stocks and contracts +€38,022
new in 2025: €38,022
- Receivables within one year +€10,199
up €10,199 (+32.9%), from €31,006 to €41,206
- Reserves +€228,134
up €228,134 (+53.1%), from €429,845 to €657,979
of which Tax-exempt reserves: +€151,295
- Contributions -€206,221
down €206,221 (-76.9%), from €268,221 to €62,000
- Provisions +€50,432
up €50,432 (+60.1%), from €83,941 to €134,373
- Trade debts +€11,272
up €11,272 (+314%), from €3,589 to €14,861
- Gross operating margin -€92,362
down €92,362 (-22.7%), from €407,017 to €314,655
- Taxes +€13,899
up €13,899 (+108%), from €12,920 to €26,819
- Depreciation -€5,771
down €5,771 (-36.0%), from €16,021 to €10,250
- Financial income +€5,462
up €5,462 (+1,246%), from €439 to €5,900
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 | €799,702 | €881,826 | +€82,125 | +10.3% |
| Fixed assets | 21/28 | €281,450 | €277,116 | -€4,334 | -1.5% |
| Tangible fixed assets | 22/27 | €281,450 | €275,491 | -€5,959 | -2.1% |
| Land and buildings | 22 | €281,056 | €275,254 | -€5,801 | -2.1% |
| Plant, machinery and equipment | 23 | €394 | €236 | -€158 | -40.0% |
| Financial fixed assets | 28 | - | €1,625 | +€1,625 | |
| Current assets | 29/58 | €518,252 | €604,711 | +€86,459 | +16.7% |
| Stocks and contracts in progress | 3 | - | €38,022 | +€38,022 | |
| Stocks | 30/36 | - | €38,022 | +€38,022 | |
| Amounts receivable within one year | 40/41 | €31,006 | €41,206 | +€10,199 | +32.9% |
| Trade receivables | 40 | €31,006 | €41,206 | +€10,199 | +32.9% |
| Current investments | 50/53 | €400,000 | - | -€400,000 | |
| Cash at bank and in hand | 54/58 | €85,052 | €522,860 | +€437,808 | +515% |
| Deferred charges and accrued income | 490/1 | €2,194 | €2,623 | +€429 | +19.6% |
| Total equity and liabilities | 10/49 | €799,702 | €881,826 | +€82,125 | +10.3% |
| Equity | 10/15 | €698,066 | €719,979 | +€21,913 | +3.1% |
| Contributions | 10/11 | €268,221 | €62,000 | -€206,221 | -76.9% |
| Reserves | 13 | €429,845 | €657,979 | +€228,134 | +53.1% |
| Non-distributable reserves | 130/1 | €26,822 | €26,822 | = | 0.0% |
| Reserves not available under the articles | 1311 | €26,822 | €26,822 | = | 0.0% |
| Tax-exempt reserves | 132 | €251,824 | €403,119 | +€151,295 | +60.1% |
| Distributable reserves | 133 | €151,199 | €228,038 | +€76,839 | +50.8% |
| Provisions and deferred taxes | 16 | €83,941 | €134,373 | +€50,432 | +60.1% |
| Deferred taxes | 168 | €83,941 | €134,373 | +€50,432 | +60.1% |
| Amounts payable | 17/49 | €17,694 | €27,475 | +€9,780 | +55.3% |
| Amounts payable within one year | 42/48 | €17,694 | €27,475 | +€9,780 | +55.3% |
| Trade debts | 44 | €3,589 | €14,861 | +€11,272 | +314% |
| Suppliers | 440/4 | €3,589 | €14,861 | +€11,272 | +314% |
| Advances received on contracts in progress | 46 | €2,048 | - | -€2,048 | |
| Taxes, remuneration and social security | 45 | €12,058 | €12,076 | +€18 | +0.2% |
| Taxes | 450/3 | €12,058 | €12,076 | +€18 | +0.2% |
| Other amounts payable | 47/48 | - | €538 | +€538 | |
| Non-recurring operating income | 76A | €335,766 | €202,386 | -€133,380 | -39.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,021 | €10,250 | -€5,771 | -36.0% |
| Other operating charges | 640/8 | €5,545 | €4,856 | -€689 | -12.4% |
| Gross operating margin | 9900 | €407,017 | €314,655 | -€92,362 | -22.7% |
| Operating profit (loss) | 9901 | €385,452 | €299,550 | -€85,902 | -22.3% |
| Financial income | 75/76B | €439 | €5,900 | +€5,462 | +1,246% |
| Recurring financial income | 75 | €439 | €5,900 | +€5,462 | +1,246% |
| Financial charges | 65/66B | €107 | €66 | -€40 | -37.7% |
| Recurring financial charges | 65 | €107 | €66 | -€40 | -37.7% |
| Profit (loss) for the period before taxes | 9903 | €385,784 | €305,384 | -€80,400 | -20.8% |
| Transfer from deferred taxes | 780 | - | €165 | +€165 | |
| Transfer to deferred taxes | 680 | €83,941 | €50,596 | -€33,345 | -39.7% |
| Income taxes | 67/77 | €12,920 | €26,819 | +€13,899 | +108% |
| Profit (loss) for the period | 9904 | €288,923 | €228,134 | -€60,789 | -21.0% |
| Transfer from tax-exempt reserves | 789 | - | €495 | +€495 | |
| Transfer to tax-exempt reserves | 689 | €251,824 | €151,789 | -€100,035 | -39.7% |
| Profit (loss) for the period to be appropriated | 9905 | €37,098 | €76,839 | +€39,741 | +107% |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.