BERT FRANSENS MANAGEMENT: 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.
BERT FRANSENS MANAGEMENT
Largest movements
- Receivables within one year +€15,501
up €15,501 (+444%), from €3,492 to €18,993
- Cash +€10,088
up €10,088 (+2.4%), from €423,040 to €433,129
mainly Net result for the year (+€23,325) and Trade debts (+€9,538)
- Reserves +€23,325
up €23,325 (+5.2%), from €452,297 to €475,623
- Trade debts +€9,538
up €9,538 (+571%), from €1,670 to €11,208
- Current portion of long-term debt -€7,725
no longer reported in 2025 (was €7,725)
- Financial income -€5,035
down €5,035 (-91.1%), from €5,526 to €491
- Gross operating margin -€3,853
down €3,853 (-6.8%), from €56,541 to €52,688
- Other operating charges +€3,044
up €3,044 (+84.4%), from €3,607 to €6,651
- Taxes -€2,680
down €2,680 (-19.4%), from €13,790 to €11,110
- Financial charges -€675
down €675 (-15.0%), from €4,494 to €3,819
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 | €562,922 | €591,501 | +€28,579 | +5.1% |
| Fixed assets | 21/28 | €136,389 | €139,379 | +€2,990 | +2.2% |
| Tangible fixed assets | 22/27 | €36,389 | €39,379 | +€2,990 | +8.2% |
| Land and buildings | 22 | €33,826 | €27,903 | -€5,923 | -17.5% |
| Plant, machinery and equipment | 23 | €988 | €8,792 | +€7,804 | +790% |
| Furniture and vehicles | 24 | €1,576 | €2,684 | +€1,109 | +70.4% |
| Financial fixed assets | 28 | €100,000 | €100,000 | = | 0.0% |
| Current assets | 29/58 | €426,533 | €452,122 | +€25,589 | +6.0% |
| Amounts receivable within one year | 40/41 | €3,492 | €18,993 | +€15,501 | +444% |
| Other amounts receivable | 41 | €3,492 | €18,993 | +€15,501 | +444% |
| Cash at bank and in hand | 54/58 | €423,040 | €433,129 | +€10,088 | +2.4% |
| Total equity and liabilities | 10/49 | €562,922 | €591,501 | +€28,579 | +5.1% |
| Equity | 10/15 | €477,297 | €500,623 | +€23,325 | +4.9% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €452,297 | €475,623 | +€23,325 | +5.2% |
| Distributable reserves | 133 | €452,297 | €475,623 | +€23,325 | +5.2% |
| Provisions and deferred taxes | 16 | €62,567 | €62,567 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €62,567 | €62,567 | = | 0.0% |
| Pensions and similar obligations | 160 | €62,567 | €62,567 | = | 0.0% |
| Amounts payable | 17/49 | €23,058 | €28,312 | +€5,254 | +22.8% |
| Amounts payable within one year | 42/48 | €23,058 | €28,312 | +€5,254 | +22.8% |
| Current portion of amounts payable after more than one year | 42 | €7,725 | - | -€7,725 | |
| Trade debts | 44 | €1,670 | €11,208 | +€9,538 | +571% |
| Suppliers | 440/4 | €1,670 | €11,208 | +€9,538 | +571% |
| Taxes, remuneration and social security | 45 | €13,662 | €17,104 | +€3,442 | +25.2% |
| Taxes | 450/3 | €13,662 | €17,104 | +€3,442 | +25.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,201 | €8,273 | +€72 | +0.9% |
| Other operating charges | 640/8 | €3,607 | €6,651 | +€3,044 | +84.4% |
| Gross operating margin | 9900 | €56,541 | €52,688 | -€3,853 | -6.8% |
| Operating profit (loss) | 9901 | €44,733 | €37,764 | -€6,969 | -15.6% |
| Financial income | 75/76B | €5,526 | €491 | -€5,035 | -91.1% |
| Recurring financial income | 75 | €5,526 | €491 | -€5,035 | -91.1% |
| Financial charges | 65/66B | €4,494 | €3,819 | -€675 | -15.0% |
| Recurring financial charges | 65 | €4,494 | €3,819 | -€675 | -15.0% |
| Profit (loss) for the period before taxes | 9903 | €45,765 | €34,436 | -€11,329 | -24.8% |
| Income taxes | 67/77 | €13,790 | €11,110 | -€2,680 | -19.4% |
| Profit (loss) for the period | 9904 | €31,975 | €23,325 | -€8,649 | -27.1% |
| Profit (loss) for the period to be appropriated | 9905 | €31,975 | €23,325 | -€8,649 | -27.1% |
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.