BERNARD LONGTAIN: 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 LONGTAIN
Largest movements
- Tangible fixed assets +€97,569
up €97,569 (+19.8%), from €491,990 to €589,559
of which Plant, machinery and equipment: +€161,263
- Receivables within one year +€42,777
up €42,777 (+18.2%), from €234,400 to €277,177
of which Other amounts receivable: +€46,623
- Deferred charges and accrued income +€30,646
up €30,646 (+353%), from €8,690 to €39,336
- Cash -€23,237
down €23,237 (-7.7%), from €303,171 to €279,934
mainly Investment in fixed assets (net) (-€280,719) and Contributions, distributions and other (-€66,703)
- Profit (loss) carried forward +€244,388
up €244,388 (+41.4%), from €590,289 to €834,676
- Reserves -€70,000
down €70,000 (-25.8%), from €271,835 to €201,835
of which Distributable reserves: -€70,000
- Debts after one year -€42,745
down €42,745 (-45.7%), from €93,557 to €50,812
- Other debts +€36,331
up €36,331 (+22.1%), from €164,098 to €200,429
- Trade debts -€16,630
down €16,630 (-25.9%), from €64,295 to €47,665
- Gross operating margin +€40,908
up €40,908 (+5.5%), from €739,861 to €780,769
- Depreciation +€25,380
up €25,380 (+15.1%), from €168,369 to €193,749
- Financial charges +€9,198
up €9,198 (+21.1%), from €43,683 to €52,882
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 | €1,301,778 | €1,438,971 | +€137,193 | +10.5% |
| Fixed assets | 21/28 | €524,834 | €611,804 | +€86,969 | +16.6% |
| Intangible fixed assets | 21 | €31,800 | €21,200 | -€10,600 | -33.3% |
| Tangible fixed assets | 22/27 | €491,990 | €589,559 | +€97,569 | +19.8% |
| Land and buildings | 22 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €261,694 | €422,957 | +€161,263 | +61.6% |
| Furniture and vehicles | 24 | €230,296 | €166,602 | -€63,694 | -27.7% |
| Financial fixed assets | 28 | €1,045 | €1,045 | = | 0.0% |
| Current assets | 29/58 | €776,944 | €827,167 | +€50,224 | +6.5% |
| Stocks and contracts in progress | 3 | €130,000 | €130,000 | = | 0.0% |
| Stocks | 30/36 | €130,000 | €130,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €234,400 | €277,177 | +€42,777 | +18.2% |
| Trade receivables | 40 | €203,420 | €199,575 | -€3,846 | -1.9% |
| Other amounts receivable | 41 | €30,980 | €77,602 | +€46,623 | +150% |
| Current investments | 50/53 | €100,682 | €100,720 | +€38 | 0.0% |
| Cash at bank and in hand | 54/58 | €303,171 | €279,934 | -€23,237 | -7.7% |
| Deferred charges and accrued income | 490/1 | €8,690 | €39,336 | +€30,646 | +353% |
| Total equity and liabilities | 10/49 | €1,301,778 | €1,438,971 | +€137,193 | +10.5% |
| Equity | 10/15 | €890,951 | €1,068,635 | +€177,684 | +19.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €271,835 | €201,835 | -€70,000 | -25.8% |
| Tax-exempt reserves | 132 | €199,975 | €199,975 | = | 0.0% |
| Distributable reserves | 133 | €71,860 | €1,860 | -€70,000 | -97.4% |
| Profit (loss) carried forward | 14 | €590,289 | €834,676 | +€244,388 | +41.4% |
| Investment grants | 15 | €10,227 | €13,524 | +€3,297 | +32.2% |
| Amounts payable | 17/49 | €410,827 | €370,336 | -€40,491 | -9.9% |
| Amounts payable after more than one year | 17 | €93,557 | €50,812 | -€42,745 | -45.7% |
| Financial debts | 170/4 | €93,557 | €50,812 | -€42,745 | -45.7% |
| Amounts payable within one year | 42/48 | €315,285 | €319,229 | +€3,944 | +1.3% |
| Current portion of amounts payable after more than one year | 42 | €55,829 | €42,745 | -€13,084 | -23.4% |
| Trade debts | 44 | €64,295 | €47,665 | -€16,630 | -25.9% |
| Suppliers | 440/4 | €64,295 | €47,665 | -€16,630 | -25.9% |
| Taxes, remuneration and social security | 45 | €31,063 | €28,390 | -€2,673 | -8.6% |
| Taxes | 450/3 | €9,599 | €10,224 | +€625 | +6.5% |
| Remuneration and social security | 454/9 | €21,464 | €18,167 | -€3,298 | -15.4% |
| Other amounts payable | 47/48 | €164,098 | €200,429 | +€36,331 | +22.1% |
| Accrued charges and deferred income | 492/3 | €1,985 | €294 | -€1,690 | -85.2% |
| Remuneration, social security and pensions | 62 | €229,749 | €222,026 | -€7,723 | -3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €168,369 | €193,749 | +€25,380 | +15.1% |
| Other operating charges | 640/8 | €9,651 | €12,429 | +€2,778 | +28.8% |
| Gross operating margin | 9900 | €739,861 | €780,769 | +€40,908 | +5.5% |
| Operating profit (loss) | 9901 | €332,091 | €352,565 | +€20,474 | +6.2% |
| Financial income | 75/76B | €13,743 | €10,743 | -€3,001 | -21.8% |
| Recurring financial income | 75 | €12,743 | €3,249 | -€9,495 | -74.5% |
| Non-recurring financial income | 76B | €1,000 | €7,494 | +€6,494 | +649% |
| Financial charges | 65/66B | €43,683 | €52,882 | +€9,198 | +21.1% |
| Recurring financial charges | 65 | €43,683 | €52,882 | +€9,198 | +21.1% |
| Profit (loss) for the period before taxes | 9903 | €302,151 | €310,426 | +€8,275 | +2.7% |
| Income taxes | 67/77 | €61,921 | €66,038 | +€4,117 | +6.6% |
| Profit (loss) for the period | 9904 | €240,230 | €244,388 | +€4,158 | +1.7% |
| Transfer to tax-exempt reserves | 689 | €115,775 | - | -€115,775 | |
| Profit (loss) for the period to be appropriated | 9905 | €124,455 | €244,388 | +€119,933 | +96.4% |
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 27 October 2026 via checked.be.