BERT: what changed
BERT
Largest movements
- Receivables within one year +€24,398
up €24,398 (+135%), from €18,110 to €42,508
of which Other amounts receivable: +€26,679
- Tangible fixed assets -€12,544
down €12,544 (-23.0%), from €54,443 to €41,899
- Cash +€4,257
up €4,257 (+20.6%), from €20,675 to €24,933
mainly Net result for the year (+€22,071) and Depreciation (+€12,544)
- Deferred charges and accrued income +€1,611
up €1,611 (+198%), from €811 to €2,422
- Reserves +€18,450
up €18,450 (+112%), from €16,440 to €34,890
- Debts after one year -€17,148
down €17,148 (-51.4%), from €33,339 to €16,191
of which Financial debts: -€9,648
- Tax, wage and social debts +€9,263
up €9,263 (+40.9%), from €22,636 to €31,899
- Profit (loss) carried forward +€3,621
up €3,621, from -€3,617 to €5
- Other debts +€2,853
new in 2025: €2,853
- Gross operating margin +€32,389
up €32,389 (+226%), from €14,352 to €46,742
- Taxes +€9,369
up €9,369 (+677%), from €1,384 to €10,753
- Depreciation +€4,638
up €4,638 (+58.7%), from €7,905 to €12,544
- Financial income +€817
up €817 (+143%), from €573 to €1,391
- Other operating charges -€649
down €649 (-34.2%), from €1,898 to €1,249
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €94,040 | €111,762 | +€17,722 | +18.8% |
| Fixed assets | 21/28 | €54,443 | €41,899 | -€12,544 | -23.0% |
| Tangible fixed assets | 22/27 | €54,443 | €41,899 | -€12,544 | -23.0% |
| Furniture and vehicles | 24 | €54,443 | €41,899 | -€12,544 | -23.0% |
| Current assets | 29/58 | €39,597 | €69,863 | +€30,266 | +76.4% |
| Amounts receivable within one year | 40/41 | €18,110 | €42,508 | +€24,398 | +135% |
| Trade receivables | 40 | €6,434 | €4,153 | -€2,281 | -35.5% |
| Other amounts receivable | 41 | €11,676 | €38,355 | +€26,679 | +228% |
| Cash at bank and in hand | 54/58 | €20,675 | €24,933 | +€4,257 | +20.6% |
| Deferred charges and accrued income | 490/1 | €811 | €2,422 | +€1,611 | +198% |
| Total equity and liabilities | 10/49 | €94,040 | €111,762 | +€17,722 | +18.8% |
| Equity | 10/15 | €17,823 | €39,895 | +€22,071 | +124% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €16,440 | €34,890 | +€18,450 | +112% |
| Distributable reserves | 133 | €16,440 | €34,890 | +€18,450 | +112% |
| Profit (loss) carried forward | 14 | -€3,617 | €5 | +€3,621 | |
| Amounts payable | 17/49 | €76,216 | €71,867 | -€4,349 | -5.7% |
| Amounts payable after more than one year | 17 | €33,339 | €16,191 | -€17,148 | -51.4% |
| Financial debts | 170/4 | €23,964 | €14,316 | -€9,648 | -40.3% |
| Other amounts payable | 178/9 | €9,375 | €1,875 | -€7,500 | -80.0% |
| Amounts payable within one year | 42/48 | €42,838 | €55,677 | +€12,839 | +30.0% |
| Current portion of amounts payable after more than one year | 42 | €16,786 | €17,148 | +€362 | +2.2% |
| Trade debts | 44 | €3,416 | €3,777 | +€361 | +10.6% |
| Suppliers | 440/4 | €3,416 | €3,777 | +€361 | +10.6% |
| Taxes, remuneration and social security | 45 | €22,636 | €31,899 | +€9,263 | +40.9% |
| Taxes | 450/3 | €22,636 | €31,899 | +€9,263 | +40.9% |
| Other amounts payable | 47/48 | - | €2,853 | +€2,853 | |
| Accrued charges and deferred income | 492/3 | €40 | €0 | -€40 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,905 | €12,544 | +€4,638 | +58.7% |
| Other operating charges | 640/8 | €1,898 | €1,249 | -€649 | -34.2% |
| Non-recurring operating charges | 66A | €5,981 | €0 | -€5,981 | -100% |
| Gross operating margin | 9900 | €14,352 | €46,742 | +€32,389 | +226% |
| Operating profit (loss) | 9901 | -€1,432 | €32,949 | +€34,381 | |
| Financial income | 75/76B | €573 | €1,391 | +€817 | +143% |
| Recurring financial income | 75 | €573 | €1,391 | +€817 | +143% |
| Financial charges | 65/66B | €1,486 | €1,516 | +€30 | +2.0% |
| Recurring financial charges | 65 | €1,486 | €1,516 | +€30 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | -€2,344 | €32,824 | +€35,168 | |
| Income taxes | 67/77 | €1,384 | €10,753 | +€9,369 | +677% |
| Profit (loss) for the period | 9904 | -€3,729 | €22,071 | +€25,800 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,729 | €22,071 | +€25,800 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.