BERNAL PATH: 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.
BERNAL PATH
Largest movements
- Cash -€74,380
down €74,380 (-49.2%), from €151,259 to €76,880
mainly Contributions, distributions and other (-€265,663) and Deferred charges and accrued income (-€12,425)
- Receivables within one year -€50,223
down €50,223 (-100.0%), from €50,223 to €0
- Deferred charges and accrued income +€12,425
up €12,425 (+15.9%), from €78,182 to €90,607
- Tangible fixed assets +€3,328
new in 2025: €3,328
- Profit (loss) carried forward -€123,215
down €123,215 (-48.8%), from €252,389 to €129,174
- Tax, wage and social debts +€12,952
up €12,952 (+57.8%), from €22,420 to €35,372
- Gross operating margin -€24,292
down €24,292 (-11.4%), from €212,429 to €188,137
- Taxes -€6,180
down €6,180 (-12.8%), from €48,420 to €42,240
- Financial charges +€2,799
up €2,799 (+337203.6%), from €1 to €2,800
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 | €279,664 | €170,815 | -€108,850 | -38.9% |
| Fixed assets | 21/28 | - | €3,328 | +€3,328 | |
| Tangible fixed assets | 22/27 | - | €3,328 | +€3,328 | |
| Furniture and vehicles | 24 | - | €3,328 | +€3,328 | |
| Current assets | 29/58 | €279,664 | €167,487 | -€112,177 | -40.1% |
| Amounts receivable within one year | 40/41 | €50,223 | €0 | -€50,223 | -100.0% |
| Other amounts receivable | 41 | €50,223 | €0 | -€50,223 | -100.0% |
| Cash at bank and in hand | 54/58 | €151,259 | €76,880 | -€74,380 | -49.2% |
| Deferred charges and accrued income | 490/1 | €78,182 | €90,607 | +€12,425 | +15.9% |
| Total equity and liabilities | 10/49 | €279,664 | €170,815 | -€108,850 | -38.9% |
| Equity | 10/15 | €256,389 | €133,174 | -€123,215 | -48.1% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €252,389 | €129,174 | -€123,215 | -48.8% |
| Amounts payable | 17/49 | €23,275 | €37,641 | +€14,365 | +61.7% |
| Amounts payable within one year | 42/48 | €23,275 | €37,641 | +€14,365 | +61.7% |
| Trade debts | 44 | €855 | €2,265 | +€1,409 | +164.7% |
| Suppliers | 440/4 | €855 | €2,265 | +€1,409 | +164.7% |
| Taxes, remuneration and social security | 45 | €22,420 | €35,372 | +€12,952 | +57.8% |
| Taxes | 450/3 | €22,420 | €35,372 | +€12,952 | +57.8% |
| Other amounts payable | 47/48 | - | €4 | +€4 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | €313 | +€313 | |
| Other operating charges | 640/8 | - | €336 | +€336 | |
| Gross operating margin | 9900 | €212,429 | €188,137 | -€24,292 | -11.4% |
| Operating profit (loss) | 9901 | €212,429 | €187,487 | -€24,942 | -11.7% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €1 | €2,800 | +€2,799 | +337203.6% |
| Recurring financial charges | 65 | €1 | €2,800 | +€2,799 | +337203.6% |
| Profit (loss) for the period before taxes | 9903 | €212,428 | €184,687 | -€27,740 | -13.1% |
| Income taxes | 67/77 | €48,420 | €42,240 | -€6,180 | -12.8% |
| Profit (loss) for the period | 9904 | €164,008 | €142,448 | -€21,560 | -13.1% |
| Profit (loss) for the period to be appropriated | 9905 | €164,008 | €142,448 | -€21,560 | -13.1% |
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 10 October 2026 via checked.be.