BERTBOUW: what changed
What changed
BERTBOUW
NACE 43.240, Other construction installation
filed annual accounts (NBB)
Net result for the year
€61,895
2024 · €66,171-€4,276
Equity
€472,840
2024 · €410,945+€61,895
Cash
€310,790
2024 · €211,474+€99,317
Balance sheet total
€1.5m
2024 · €1.5m+€5,865
Largest movements
Assets
- Cash +€99,317
up €99,317 (+47.0%), from €211,474 to €310,790
mainly Tax, wage and social debts (+€83,053) and Net result for the year (+€61,895)
- Stocks and contracts -€44,655
down €44,655 (-22.2%), from €201,001 to €156,346
of which Contracts in progress: -€40,951
- Receivables within one year -€38,685
down €38,685 (-15.5%), from €249,786 to €211,101
of which Trade receivables: -€32,139
- Tangible fixed assets -€19,773
down €19,773 (-2.5%), from €790,991 to €771,217
of which Land and buildings: -€37,142
Equity and liabilities
- Trade debts -€90,933
down €90,933 (-51.2%), from €177,649 to €86,716
- Tax, wage and social debts +€83,053
up €83,053 (+104%), from €80,160 to €163,213
of which Taxes: +€42,165
- Reserves +€61,895
up €61,895 (+15.8%), from €392,345 to €454,240
- Short-term financial debts -€50,000
down €50,000 (-33.3%), from €150,000 to €100,000
Income statement
- Gross operating margin +€200,502
up €200,502 (+25.6%), from €783,210 to €983,712
- Staff costs +€199,676
up €199,676 (+33.2%), from €600,937 to €800,613
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€66,171
Gross operating margin
+€200,502
Staff costs
-€199,676
Depreciation
+€4,510
Other operating charges
-€610
Financial income
+€792
Financial charges
-€2,098
Taxes
-€7,697
Result 2025
€61,895
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€197,440
Investment
-€48,518
Financing
-€49,606
Cash 2024
€211,474
From operations (derived)
+€197,440
Net result for the year
+€61,895
Depreciation
+€59,291
Stocks and contracts
+€44,655
Receivables within one year
+€38,685
Deferred charges and accrued income
-€661
Trade debts
-€90,933
Tax, wage and social debts
+€83,053
Other debts
+€1,456
Investment (derived)
-€48,518
Investment in fixed assets (net)
-€39,518
Current investments
-€9,000
Financing
-€49,606
Debts after one year
-€3,096
Current portion of long-term debt
+€3,490
Short-term financial debts
-€50,000
Cash 2025
€310,790
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,515,932 | €1,521,796 | +€5,865 | +0.4% |
| Fixed assets | 21/28 | €793,756 | €773,982 | -€19,773 | -2.5% |
| Tangible fixed assets | 22/27 | €790,991 | €771,217 | -€19,773 | -2.5% |
| Land and buildings | 22 | €750,350 | €713,208 | -€37,142 | -4.9% |
| Plant, machinery and equipment | 23 | €17,070 | €46,768 | +€29,698 | +174% |
| Furniture and vehicles | 24 | €23,571 | €11,241 | -€12,330 | -52.3% |
| Financial fixed assets | 28 | €2,765 | €2,765 | = | 0.0% |
| Current assets | 29/58 | €722,176 | €747,814 | +€25,638 | +3.6% |
| Stocks and contracts in progress | 3 | €201,001 | €156,346 | -€44,655 | -22.2% |
| Stocks | 30/36 | €40,896 | €37,192 | -€3,704 | -9.1% |
| Contracts in progress | 37 | €160,105 | €119,154 | -€40,951 | -25.6% |
| Amounts receivable within one year | 40/41 | €249,786 | €211,101 | -€38,685 | -15.5% |
| Trade receivables | 40 | €243,241 | €211,101 | -€32,139 | -13.2% |
| Other amounts receivable | 41 | €6,545 | €0 | -€6,545 | -100% |
| Current investments | 50/53 | €58,029 | €67,029 | +€9,000 | +15.5% |
| Cash at bank and in hand | 54/58 | €211,474 | €310,790 | +€99,317 | +47.0% |
| Deferred charges and accrued income | 490/1 | €1,886 | €2,547 | +€661 | +35.1% |
| Total equity and liabilities | 10/49 | €1,515,932 | €1,521,796 | +€5,865 | +0.4% |
| Equity | 10/15 | €410,945 | €472,840 | +€61,895 | +15.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €392,345 | €454,240 | +€61,895 | +15.8% |
| Distributable reserves | 133 | €392,345 | €454,240 | +€61,895 | +15.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €1,104,987 | €1,048,956 | -€56,030 | -5.1% |
| Amounts payable after more than one year | 17 | €523,606 | €520,510 | -€3,096 | -0.6% |
| Financial debts | 170/4 | €523,606 | €520,510 | -€3,096 | -0.6% |
| Amounts payable within one year | 42/48 | €581,380 | €528,446 | -€52,934 | -9.1% |
| Current portion of amounts payable after more than one year | 42 | €37,305 | €40,795 | +€3,490 | +9.4% |
| Financial debts | 43 | €150,000 | €100,000 | -€50,000 | -33.3% |
| Credit institutions | 430/8 | €150,000 | €100,000 | -€50,000 | -33.3% |
| Trade debts | 44 | €177,649 | €86,716 | -€90,933 | -51.2% |
| Suppliers | 440/4 | €177,649 | €86,716 | -€90,933 | -51.2% |
| Taxes, remuneration and social security | 45 | €80,160 | €163,213 | +€83,053 | +104% |
| Taxes | 450/3 | €27,029 | €69,194 | +€42,165 | +156% |
| Remuneration and social security | 454/9 | €53,131 | €94,019 | +€40,888 | +77.0% |
| Other amounts payable | 47/48 | €136,266 | €137,722 | +€1,456 | +1.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €457 | €4,512 | +€4,055 | +888% |
| Remuneration, social security and pensions | 62 | €600,937 | €800,613 | +€199,676 | +33.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,801 | €59,291 | -€4,510 | -7.1% |
| Other operating charges | 640/8 | €7,360 | €7,970 | +€610 | +8.3% |
| Gross operating margin | 9900 | €783,210 | €983,712 | +€200,502 | +25.6% |
| Operating profit (loss) | 9901 | €111,111 | €115,839 | +€4,727 | +4.3% |
| Financial income | 75/76B | €1,677 | €2,469 | +€792 | +47.2% |
| Recurring financial income | 75 | €1,677 | €2,469 | +€792 | +47.2% |
| Financial charges | 65/66B | €22,502 | €24,599 | +€2,098 | +9.3% |
| Recurring financial charges | 65 | €22,502 | €24,599 | +€2,098 | +9.3% |
| Profit (loss) for the period before taxes | 9903 | €90,287 | €93,708 | +€3,421 | +3.8% |
| Income taxes | 67/77 | €24,116 | €31,813 | +€7,697 | +31.9% |
| Profit (loss) for the period | 9904 | €66,171 | €61,895 | -€4,276 | -6.5% |
| Profit (loss) for the period to be appropriated | 9905 | €66,171 | €61,895 | -€4,276 | -6.5% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.