BERT MAES: 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 MAES
Largest movements
- Receivables within one year -€11,831
down €11,831 (-24.8%), from €47,798 to €35,967
of which Trade receivables: -€16,203
- Cash +€9,475
up €9,475 (+4410.2%), from €215 to €9,690
mainly Receivables within one year (+€11,831) and Net result for the year (+€2,323)
- Tangible fixed assets -€1,972
down €1,972 (-69.8%), from €2,826 to €854
of which Furniture and vehicles: -€1,219
- Tax, wage and social debts -€6,482
down €6,482 (-100.0%), from €6,482 to €0
- Reserves +€2,323
up €2,323 (+6.0%), from €39,015 to €41,338
of which Distributable reserves: +€2,323
- Financial income -€4,533
down €4,533 (-76.5%), from €5,924 to €1,390
- Depreciation -€3,624
down €3,624 (-74.8%), from €4,843 to €1,219
- Financial charges -€2,524
down €2,524 (-29.7%), from €8,497 to €5,973
- Taxes -€800
down €800 (-38.8%), from €2,065 to €1,264
- Other operating charges +€459
up €459 (+103.5%), from €443 to €902
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 | €51,697 | €47,859 | -€3,837 | -7.4% |
| Fixed assets | 21/28 | €2,826 | €854 | -€1,972 | -69.8% |
| Tangible fixed assets | 22/27 | €2,826 | €854 | -€1,972 | -69.8% |
| Furniture and vehicles | 24 | €2,073 | €854 | -€1,219 | -58.8% |
| Leasing and similar rights | 25 | €753 | €0 | -€753 | -100.0% |
| Current assets | 29/58 | €48,871 | €47,005 | -€1,866 | -3.8% |
| Amounts receivable within one year | 40/41 | €47,798 | €35,967 | -€11,831 | -24.8% |
| Trade receivables | 40 | €27,274 | €11,071 | -€16,203 | -59.4% |
| Other amounts receivable | 41 | €20,524 | €24,896 | +€4,372 | +21.3% |
| Cash at bank and in hand | 54/58 | €215 | €9,690 | +€9,475 | +4410.2% |
| Deferred charges and accrued income | 490/1 | €858 | €1,348 | +€490 | +57.1% |
| Total equity and liabilities | 10/49 | €51,697 | €47,859 | -€3,837 | -7.4% |
| Equity | 10/15 | €45,215 | €47,538 | +€2,323 | +5.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €39,015 | €41,338 | +€2,323 | +6.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Other | 1319 | - | €1,860 | +€1,860 | |
| Tax-exempt reserves | 132 | €8,400 | €8,400 | = | 0.0% |
| Distributable reserves | 133 | €28,755 | €31,078 | +€2,323 | +8.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €6,482 | €322 | -€6,160 | -95.0% |
| Amounts payable within one year | 42/48 | €6,482 | €322 | -€6,160 | -95.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €0 | €322 | +€322 | |
| Suppliers | 440/4 | €0 | €322 | +€322 | |
| Taxes, remuneration and social security | 45 | €6,482 | €0 | -€6,482 | -100.0% |
| Taxes | 450/3 | €6,482 | €0 | -€6,482 | -100.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,843 | €1,219 | -€3,624 | -74.8% |
| Other operating charges | 640/8 | €443 | €902 | +€459 | +103.5% |
| Non-recurring operating charges | 66A | - | €753 | +€753 | |
| Gross operating margin | 9900 | €11,306 | €11,044 | -€262 | -2.3% |
| Operating profit (loss) | 9901 | €6,019 | €8,170 | +€2,150 | +35.7% |
| Financial income | 75/76B | €5,924 | €1,390 | -€4,533 | -76.5% |
| Recurring financial income | 75 | €5,924 | €1,390 | -€4,533 | -76.5% |
| Financial charges | 65/66B | €8,497 | €5,973 | -€2,524 | -29.7% |
| Recurring financial charges | 65 | €8,497 | €5,973 | -€2,524 | -29.7% |
| Profit (loss) for the period before taxes | 9903 | €3,446 | €3,587 | +€141 | +4.1% |
| Income taxes | 67/77 | €2,065 | €1,264 | -€800 | -38.8% |
| Profit (loss) for the period | 9904 | €1,381 | €2,323 | +€941 | +68.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,381 | €2,323 | +€941 | +68.1% |
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 4 October 2026 via checked.be.