BERT ANNICK: what changed
Two fiscal 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.
BERT ANNICK
Largest movements
- Current investments +€71,755
up €71,755 (+19.0%), from €377,747 to €449,502
- Tangible fixed assets -€18,395
down €18,395 (-47.7%), from €38,530 to €20,136
of which Other tangible fixed assets: -€17,964
- Reserves +€59,651
up €59,651 (+13.2%), from €450,790 to €510,441
of which Distributable reserves: +€59,651
- Debts after one year -€15,906
down €15,906 (-31.1%), from €51,137 to €35,231
- Gross operating margin -€9,708
down €9,708 (-6.4%), from €151,453 to €141,745
- Taxes -€2,164
down €2,164 (-8.5%), from €25,576 to €23,412
- Staff costs -€1,835
down €1,835 (-3.8%), from €48,551 to €46,716
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 | €570,125 | €622,539 | +€52,414 | +9.2% |
| Fixed assets | 21/28 | €38,530 | €20,136 | -€18,395 | -47.7% |
| Tangible fixed assets | 22/27 | €38,530 | €20,136 | -€18,395 | -47.7% |
| Plant, machinery and equipment | 23 | €879 | €448 | -€431 | -49.1% |
| Other tangible fixed assets | 26 | €37,652 | €19,688 | -€17,964 | -47.7% |
| Current assets | 29/58 | €531,595 | €602,404 | +€70,809 | +13.3% |
| Amounts receivable within one year | 40/41 | €250 | €250 | = | 0.0% |
| Other amounts receivable | 41 | €250 | €250 | = | 0.0% |
| Current investments | 50/53 | €377,747 | €449,502 | +€71,755 | +19.0% |
| Cash at bank and in hand | 54/58 | €130,160 | €127,255 | -€2,905 | -2.2% |
| Deferred charges and accrued income | 490/1 | €23,438 | €25,396 | +€1,959 | +8.4% |
| Total equity and liabilities | 10/49 | €570,125 | €622,539 | +€52,414 | +9.2% |
| Equity | 10/15 | €469,390 | €529,041 | +€59,651 | +12.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €450,790 | €510,441 | +€59,651 | +13.2% |
| Tax-exempt reserves | 132 | €19,145 | €19,145 | = | 0.0% |
| Distributable reserves | 133 | €431,645 | €491,296 | +€59,651 | +13.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €100,736 | €93,499 | -€7,237 | -7.2% |
| Amounts payable after more than one year | 17 | €51,137 | €35,231 | -€15,906 | -31.1% |
| Financial debts | 170/4 | €51,137 | €35,231 | -€15,906 | -31.1% |
| Amounts payable within one year | 42/48 | €45,211 | €54,362 | +€9,151 | +20.2% |
| Current portion of amounts payable after more than one year | 42 | €15,686 | €15,906 | +€220 | +1.4% |
| Trade debts | 44 | €52 | €2,179 | +€2,128 | +4121.7% |
| Suppliers | 440/4 | €52 | €2,179 | +€2,128 | +4121.7% |
| Taxes, remuneration and social security | 45 | €20,578 | €24,459 | +€3,881 | +18.9% |
| Taxes | 450/3 | €9,991 | €14,227 | +€4,237 | +42.4% |
| Remuneration and social security | 454/9 | €10,587 | €10,232 | -€356 | -3.4% |
| Other amounts payable | 47/48 | €8,895 | €11,818 | +€2,923 | +32.9% |
| Accrued charges and deferred income | 492/3 | €4,389 | €3,906 | -€483 | -11.0% |
| Non-recurring operating income | 76A | - | €2,800 | +€2,800 | |
| Remuneration, social security and pensions | 62 | €48,551 | €46,716 | -€1,835 | -3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,561 | €18,395 | -€166 | -0.9% |
| Other operating charges | 640/8 | €1,442 | €797 | -€645 | -44.7% |
| Gross operating margin | 9900 | €151,453 | €141,745 | -€9,708 | -6.4% |
| Operating profit (loss) | 9901 | €82,899 | €75,837 | -€7,061 | -8.5% |
| Financial income | 75/76B | €12,948 | €12,165 | -€783 | -6.0% |
| Recurring financial income | 75 | €12,948 | €12,165 | -€783 | -6.0% |
| Financial charges | 65/66B | €4,398 | €4,939 | +€540 | +12.3% |
| Recurring financial charges | 65 | €4,398 | €4,939 | +€540 | +12.3% |
| Profit (loss) for the period before taxes | 9903 | €91,448 | €83,064 | -€8,384 | -9.2% |
| Income taxes | 67/77 | €25,576 | €23,412 | -€2,164 | -8.5% |
| Profit (loss) for the period | 9904 | €65,872 | €59,651 | -€6,221 | -9.4% |
| Profit (loss) for the period to be appropriated | 9905 | €65,872 | €59,651 | -€6,221 | -9.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.