BERT VAN ROYEN: 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 VAN ROYEN
Largest movements
- Cash -€16,627
down €16,627 (-34.1%), from €48,791 to €32,164
mainly Investment in fixed assets (net) (-€30,045) and Other debts (-€27,336)
- Receivables within one year +€13,618
up €13,618 (+20.6%), from €66,010 to €79,628
of which Other amounts receivable: +€40,346
- Tangible fixed assets +€3,712
up €3,712 (+2.1%), from €177,554 to €181,265
of which Plant, machinery and equipment: +€13,380
- Reserves +€38,984
up €38,984 (+37.1%), from €105,177 to €144,161
of which Distributable reserves: +€38,984
- Other debts -€27,336
down €27,336 (-66.0%), from €41,401 to €14,065
- Debts after one year -€10,120
down €10,120 (-13.2%), from €76,674 to €66,555
- Depreciation +€3,152
up €3,152 (+13.6%), from €23,182 to €26,333
- Financial income +€2,799
up €2,799 (+23845.4%), from €12 to €2,811
- Gross operating margin +€1,498
up €1,498 (+1.8%), from €84,251 to €85,749
- Taxes +€959
up €959 (+5.3%), from €18,265 to €19,224
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 | €311,460 | €311,842 | +€382 | +0.1% |
| Fixed assets | 21/28 | €177,804 | €181,515 | +€3,712 | +2.1% |
| Tangible fixed assets | 22/27 | €177,554 | €181,265 | +€3,712 | +2.1% |
| Land and buildings | 22 | €99,138 | €89,469 | -€9,668 | -9.8% |
| Plant, machinery and equipment | 23 | €78,416 | €91,796 | +€13,380 | +17.1% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €133,657 | €130,327 | -€3,329 | -2.5% |
| Stocks and contracts in progress | 3 | €17,826 | €16,306 | -€1,520 | -8.5% |
| Stocks | 30/36 | €17,826 | €16,306 | -€1,520 | -8.5% |
| Amounts receivable within one year | 40/41 | €66,010 | €79,628 | +€13,618 | +20.6% |
| Trade receivables | 40 | €63,871 | €37,144 | -€26,728 | -41.8% |
| Other amounts receivable | 41 | €2,139 | €42,485 | +€40,346 | +1886.5% |
| Cash at bank and in hand | 54/58 | €48,791 | €32,164 | -€16,627 | -34.1% |
| Deferred charges and accrued income | 490/1 | €1,030 | €2,229 | +€1,199 | +116.5% |
| Total equity and liabilities | 10/49 | €311,460 | €311,842 | +€382 | +0.1% |
| Equity | 10/15 | €111,377 | €150,361 | +€38,984 | +35.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €105,177 | €144,161 | +€38,984 | +37.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €103,317 | €142,301 | +€38,984 | +37.7% |
| Amounts payable | 17/49 | €200,084 | €161,481 | -€38,602 | -19.3% |
| Amounts payable after more than one year | 17 | €76,674 | €66,555 | -€10,120 | -13.2% |
| Financial debts | 170/4 | €76,674 | €66,555 | -€10,120 | -13.2% |
| Amounts payable within one year | 42/48 | €123,409 | €94,927 | -€28,483 | -23.1% |
| Current portion of amounts payable after more than one year | 42 | €9,941 | €10,120 | +€179 | +1.8% |
| Trade debts | 44 | €48,587 | €48,660 | +€73 | +0.2% |
| Suppliers | 440/4 | €48,587 | €48,660 | +€73 | +0.2% |
| Taxes, remuneration and social security | 45 | €23,480 | €22,082 | -€1,398 | -6.0% |
| Taxes | 450/3 | €23,480 | €22,082 | -€1,398 | -6.0% |
| Other amounts payable | 47/48 | €41,401 | €14,065 | -€27,336 | -66.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,182 | €26,333 | +€3,152 | +13.6% |
| Other operating charges | 640/8 | €1,639 | €2,147 | +€507 | +31.0% |
| Gross operating margin | 9900 | €84,251 | €85,749 | +€1,498 | +1.8% |
| Operating profit (loss) | 9901 | €59,430 | €57,269 | -€2,162 | -3.6% |
| Financial income | 75/76B | €12 | €2,811 | +€2,799 | +23845.4% |
| Recurring financial income | 75 | €12 | €2,811 | +€2,799 | +23845.4% |
| Financial charges | 65/66B | €1,984 | €1,872 | -€112 | -5.7% |
| Recurring financial charges | 65 | €1,984 | €1,872 | -€112 | -5.7% |
| Profit (loss) for the period before taxes | 9903 | €57,458 | €58,208 | +€750 | +1.3% |
| Income taxes | 67/77 | €18,265 | €19,224 | +€959 | +5.3% |
| Profit (loss) for the period | 9904 | €39,193 | €38,984 | -€209 | -0.5% |
| Profit (loss) for the period to be appropriated | 9905 | €39,193 | €38,984 | -€209 | -0.5% |
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 10 October 2026 via checked.be.