Bert & Kelly: 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 & Kelly
Largest movements
- Tangible fixed assets +€43,099
up €43,099 (+13.9%), from €311,138 to €354,237
of which Furniture and vehicles: +€45,725
- Cash -€14,258
down €14,258 (-30.1%), from €47,380 to €33,122
mainly Investment in fixed assets (net) (-€72,150) and Other debts (-€34,506)
- Receivables within one year +€8,060
up €8,060 (+854%), from €943 to €9,003
of which Trade receivables: +€8,713
- Reserves +€93,162
up €93,162 (+2,031%), from €4,587 to €97,749
- Profit (loss) carried forward -€54,655
no longer reported in 2025 (was €54,655)
- Other debts -€34,506
down €34,506 (-45.2%), from €76,316 to €41,810
- Current portion of long-term debt +€15,379
up €15,379 (+62.9%), from €24,452 to €39,830
- Tax, wage and social debts +€10,804
up €10,804 (+85.0%), from €12,710 to €23,514
of which Taxes: +€9,104
- Depreciation +€16,343
up €16,343 (+127%), from €12,868 to €29,211
- Taxes +€11,432
up €11,432 (+100%), from €11,385 to €22,817
- Gross operating margin +€5,107
up €5,107 (+5.4%), from €93,797 to €98,903
- Financial charges +€3,298
up €3,298 (+99.3%), from €3,323 to €6,622
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 | €362,923 | €401,725 | +€38,803 | +10.7% |
| Fixed assets | 21/28 | €311,298 | €354,237 | +€42,939 | +13.8% |
| Tangible fixed assets | 22/27 | €311,138 | €354,237 | +€43,099 | +13.9% |
| Land and buildings | 22 | €218,182 | €209,091 | -€9,091 | -4.2% |
| Plant, machinery and equipment | 23 | €90,937 | €97,402 | +€6,465 | +7.1% |
| Furniture and vehicles | 24 | €2,019 | €47,745 | +€45,725 | +2,265% |
| Financial fixed assets | 28 | €160 | - | -€160 | |
| Current assets | 29/58 | €51,625 | €47,488 | -€4,136 | -8.0% |
| Stocks and contracts in progress | 3 | €2,394 | €3,108 | +€714 | +29.8% |
| Stocks | 30/36 | €2,394 | €3,108 | +€714 | +29.8% |
| Amounts receivable within one year | 40/41 | €943 | €9,003 | +€8,060 | +854% |
| Trade receivables | 40 | - | €8,713 | +€8,713 | |
| Other amounts receivable | 41 | €943 | €290 | -€654 | -69.3% |
| Cash at bank and in hand | 54/58 | €47,380 | €33,122 | -€14,258 | -30.1% |
| Deferred charges and accrued income | 490/1 | €908 | €2,256 | +€1,348 | +149% |
| Total equity and liabilities | 10/49 | €362,923 | €401,725 | +€38,803 | +10.7% |
| Equity | 10/15 | €71,641 | €110,149 | +€38,508 | +53.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €4,587 | €97,749 | +€93,162 | +2,031% |
| Distributable reserves | 133 | €4,587 | €97,749 | +€93,162 | +2,031% |
| Profit (loss) carried forward | 14 | €54,655 | - | -€54,655 | |
| Amounts payable | 17/49 | €291,281 | €291,576 | +€295 | +0.1% |
| Amounts payable after more than one year | 17 | €169,410 | €171,185 | +€1,775 | +1.0% |
| Financial debts | 170/4 | €169,410 | €171,185 | +€1,775 | +1.0% |
| Amounts payable within one year | 42/48 | €121,872 | €120,164 | -€1,708 | -1.4% |
| Current portion of amounts payable after more than one year | 42 | €24,452 | €39,830 | +€15,379 | +62.9% |
| Trade debts | 44 | €8,395 | €15,010 | +€6,615 | +78.8% |
| Suppliers | 440/4 | €8,395 | €15,010 | +€6,615 | +78.8% |
| Taxes, remuneration and social security | 45 | €12,710 | €23,514 | +€10,804 | +85.0% |
| Taxes | 450/3 | €9,710 | €18,814 | +€9,104 | +93.8% |
| Remuneration and social security | 454/9 | €3,000 | €4,700 | +€1,700 | +56.7% |
| Other amounts payable | 47/48 | €76,316 | €41,810 | -€34,506 | -45.2% |
| Accrued charges and deferred income | 492/3 | - | €228 | +€228 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,868 | €29,211 | +€16,343 | +127% |
| Other operating charges | 640/8 | €2,358 | €2,317 | -€41 | -1.7% |
| Gross operating margin | 9900 | €93,797 | €98,903 | +€5,107 | +5.4% |
| Operating profit (loss) | 9901 | €78,571 | €67,375 | -€11,195 | -14.2% |
| Financial income | 75/76B | €1 | €571 | +€570 | +61,974% |
| Recurring financial income | 75 | €1 | €571 | +€570 | +61,974% |
| Financial charges | 65/66B | €3,323 | €6,622 | +€3,298 | +99.3% |
| Recurring financial charges | 65 | €3,323 | €6,622 | +€3,298 | +99.3% |
| Profit (loss) for the period before taxes | 9903 | €75,248 | €61,325 | -€13,923 | -18.5% |
| Income taxes | 67/77 | €11,385 | €22,817 | +€11,432 | +100% |
| Profit (loss) for the period | 9904 | €63,863 | €38,508 | -€25,355 | -39.7% |
| Profit (loss) for the period to be appropriated | 9905 | €63,863 | €38,508 | -€25,355 | -39.7% |
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 14 October 2026 via checked.be.