Bernstein Public Policy: 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.
Bernstein Public Policy
Largest movements
- Receivables within one year +€9,034
up €9,034 (+234%), from €3,853 to €12,886
of which Trade receivables: +€7,590
- Cash -€8,801
down €8,801 (-71.4%), from €12,328 to €3,528
mainly Net result for the year (-€24,236) and Receivables within one year (-€9,034)
- Financial fixed assets +€2,600
up €2,600 (+43.0%), from €6,045 to €8,645
- Tangible fixed assets -€2,430
no longer reported in 2025 (was €2,430)
- Deferred charges and accrued income -€293
no longer reported in 2025 (was €293)
- Profit (loss) carried forward -€24,236
down €24,236 (-361%), from -€6,723 to -€30,959
- Trade debts +€15,278
up €15,278 (+1,726%), from €885 to €16,164
- Contributions +€12,400
up €12,400 (+200%), from €6,200 to €18,600
- Other debts -€2,319
down €2,319 (-11.0%), from €21,000 to €18,681
- Accrued charges and deferred income -€1,013
down €1,013 (-58.7%), from €1,726 to €713
- Gross operating margin +€8,798
up €8,798 (+34.4%), from -€25,592 to -€16,794
- Other operating charges +€6,454
up €6,454 (+1,666%), from €387 to €6,841
- Depreciation -€1,927
down €1,927 (-78.8%), from €2,443 to €517
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 | €24,949 | €25,059 | +€110 | +0.4% |
| Fixed assets | 21/28 | €8,475 | €8,645 | +€170 | +2.0% |
| Tangible fixed assets | 22/27 | €2,430 | - | -€2,430 | |
| Furniture and vehicles | 24 | €2,430 | - | -€2,430 | |
| Financial fixed assets | 28 | €6,045 | €8,645 | +€2,600 | +43.0% |
| Current assets | 29/58 | €16,474 | €16,414 | -€60 | -0.4% |
| Amounts receivable within one year | 40/41 | €3,853 | €12,886 | +€9,034 | +234% |
| Trade receivables | 40 | €3,098 | €10,688 | +€7,590 | +245% |
| Other amounts receivable | 41 | €755 | €2,199 | +€1,444 | +191% |
| Cash at bank and in hand | 54/58 | €12,328 | €3,528 | -€8,801 | -71.4% |
| Deferred charges and accrued income | 490/1 | €293 | - | -€293 | |
| Total equity and liabilities | 10/49 | €24,949 | €25,059 | +€110 | +0.4% |
| Equity | 10/15 | €1,337 | -€10,499 | -€11,836 | |
| Contributions | 10/11 | €6,200 | €18,600 | +€12,400 | +200% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,723 | -€30,959 | -€24,236 | -361% |
| Amounts payable | 17/49 | €23,612 | €35,558 | +€11,946 | +50.6% |
| Amounts payable within one year | 42/48 | €21,885 | €34,845 | +€12,959 | +59.2% |
| Trade debts | 44 | €885 | €16,164 | +€15,278 | +1,726% |
| Suppliers | 440/4 | €885 | €16,164 | +€15,278 | +1,726% |
| Other amounts payable | 47/48 | €21,000 | €18,681 | -€2,319 | -11.0% |
| Accrued charges and deferred income | 492/3 | €1,726 | €713 | -€1,013 | -58.7% |
| Remuneration, social security and pensions | 62 | €208 | - | -€208 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,443 | €517 | -€1,927 | -78.8% |
| Other operating charges | 640/8 | €387 | €6,841 | +€6,454 | +1,666% |
| Gross operating margin | 9900 | -€25,592 | -€16,794 | +€8,798 | +34.4% |
| Operating profit (loss) | 9901 | -€28,631 | -€24,152 | +€4,479 | +15.6% |
| Financial charges | 65/66B | €169 | €84 | -€85 | -50.3% |
| Recurring financial charges | 65 | €169 | €84 | -€85 | -50.3% |
| Profit (loss) for the period before taxes | 9903 | -€28,800 | -€24,236 | +€4,564 | +15.8% |
| Profit (loss) for the period | 9904 | -€28,800 | -€24,236 | +€4,564 | +15.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,800 | -€24,236 | +€4,564 | +15.8% |
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 29 October 2026 via checked.be.