BERNARD D exploitation: 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.
BERNARD D exploitation
Largest movements
- Tangible fixed assets +€214,318
up €214,318 (+32.6%), from €657,484 to €871,802
of which Plant, machinery and equipment: +€138,201
- Receivables within one year +€97,366
up €97,366 (+38.1%), from €255,340 to €352,706
of which Trade receivables: +€98,608
- Stocks and contracts +€33,555
up €33,555 (+7.4%), from €451,775 to €485,330
- Cash -€29,412
down €29,412 (-93.0%), from €31,621 to €2,209
mainly Investment in fixed assets (net) (-€296,941) and Receivables within one year (-€97,366)
- Investment grants +€99,649
up €99,649 (+59.6%), from €167,129 to €266,778
- Other debts +€79,147
up €79,147 (+49.8%), from €159,073 to €238,220
- Trade debts +€62,625
up €62,625 (+24.7%), from €253,619 to €316,244
- Debts after one year +€34,856
up €34,856 (+7.3%), from €478,320 to €513,177
of which Financial debts: +€34,856
- Current portion of long-term debt +€21,089
up €21,089 (+26.5%), from €79,591 to €100,679
- Gross operating margin +€30,428
up €30,428 (+17.3%), from €175,423 to €205,851
- Depreciation +€16,824
up €16,824 (+25.6%), from €65,799 to €82,623
- Other operating charges -€2,484
down €2,484 (-30.6%), from €8,128 to €5,645
- Staff costs +€2,235
up €2,235 (+3.0%), from €73,870 to €76,105
- Financial charges -€2,191
down €2,191 (-9.0%), from €24,480 to €22,289
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 | €1,402,098 | €1,717,675 | +€315,577 | +22.5% |
| Fixed assets | 21/28 | €657,484 | €871,802 | +€214,318 | +32.6% |
| Tangible fixed assets | 22/27 | €657,484 | €871,802 | +€214,318 | +32.6% |
| Land and buildings | 22 | €362,255 | €338,809 | -€23,446 | -6.5% |
| Plant, machinery and equipment | 23 | €250,709 | €388,910 | +€138,201 | +55.1% |
| Furniture and vehicles | 24 | €38,594 | €135,273 | +€96,679 | +251% |
| Other tangible fixed assets | 26 | €5,927 | €8,811 | +€2,884 | +48.7% |
| Current assets | 29/58 | €744,613 | €845,873 | +€101,259 | +13.6% |
| Stocks and contracts in progress | 3 | €451,775 | €485,330 | +€33,555 | +7.4% |
| Stocks | 30/36 | €451,775 | €485,330 | +€33,555 | +7.4% |
| Amounts receivable within one year | 40/41 | €255,340 | €352,706 | +€97,366 | +38.1% |
| Trade receivables | 40 | €245,989 | €344,597 | +€98,608 | +40.1% |
| Other amounts receivable | 41 | €9,351 | €8,109 | -€1,242 | -13.3% |
| Cash at bank and in hand | 54/58 | €31,621 | €2,209 | -€29,412 | -93.0% |
| Deferred charges and accrued income | 490/1 | €5,877 | €5,627 | -€250 | -4.3% |
| Total equity and liabilities | 10/49 | €1,402,098 | €1,717,675 | +€315,577 | +22.5% |
| Equity | 10/15 | €326,636 | €445,366 | +€118,730 | +36.3% |
| Contributions | 10/11 | €63,760 | €63,760 | = | 0.0% |
| Reserves | 13 | €13,454 | €13,454 | = | 0.0% |
| Distributable reserves | 133 | €13,454 | €13,454 | = | 0.0% |
| Profit (loss) carried forward | 14 | €82,292 | €101,374 | +€19,081 | +23.2% |
| Investment grants | 15 | €167,129 | €266,778 | +€99,649 | +59.6% |
| Amounts payable | 17/49 | €1,075,462 | €1,272,309 | +€196,847 | +18.3% |
| Amounts payable after more than one year | 17 | €478,320 | €513,177 | +€34,856 | +7.3% |
| Financial debts | 170/4 | €388,320 | €423,177 | +€34,856 | +9.0% |
| Other amounts payable | 178/9 | €90,000 | €90,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €595,606 | €757,984 | +€162,378 | +27.3% |
| Current portion of amounts payable after more than one year | 42 | €79,591 | €100,679 | +€21,089 | +26.5% |
| Financial debts | 43 | €80,518 | €80,758 | +€241 | +0.3% |
| Credit institutions | 430/8 | €80,518 | €80,758 | +€241 | +0.3% |
| Trade debts | 44 | €253,619 | €316,244 | +€62,625 | +24.7% |
| Suppliers | 440/4 | €253,619 | €316,244 | +€62,625 | +24.7% |
| Taxes, remuneration and social security | 45 | €22,806 | €22,082 | -€724 | -3.2% |
| Taxes | 450/3 | €4,600 | €6,206 | +€1,606 | +34.9% |
| Remuneration and social security | 454/9 | €18,206 | €15,876 | -€2,330 | -12.8% |
| Other amounts payable | 47/48 | €159,073 | €238,220 | +€79,147 | +49.8% |
| Accrued charges and deferred income | 492/3 | €1,535 | €1,148 | -€387 | -25.2% |
| Remuneration, social security and pensions | 62 | €73,870 | €76,105 | +€2,235 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,799 | €82,623 | +€16,824 | +25.6% |
| Other operating charges | 640/8 | €8,128 | €5,645 | -€2,484 | -30.6% |
| Gross operating margin | 9900 | €175,423 | €205,851 | +€30,428 | +17.3% |
| Operating profit (loss) | 9901 | €27,626 | €41,478 | +€13,852 | +50.1% |
| Financial income | 75/76B | €1,664 | €1,574 | -€90 | -5.4% |
| Recurring financial income | 75 | €1,664 | €1,574 | -€90 | -5.4% |
| Financial charges | 65/66B | €24,480 | €22,289 | -€2,191 | -9.0% |
| Recurring financial charges | 65 | €24,480 | €22,289 | -€2,191 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | €4,810 | €20,763 | +€15,953 | +332% |
| Income taxes | 67/77 | €2,409 | €1,682 | -€727 | -30.2% |
| Profit (loss) for the period | 9904 | €2,401 | €19,081 | +€16,680 | +695% |
| Profit (loss) for the period to be appropriated | 9905 | €2,401 | €19,081 | +€16,680 | +695% |
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.