BERTELCO: 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.
BERTELCO
Largest movements
- Cash +€18,336
up €18,336 (+73.5%), from €24,956 to €43,292
mainly Net result for the year (+€17,195) and Other debts (+€5,290)
- Tangible fixed assets +€1,882
new in 2025: €1,882
- Reserves +€17,195
up €17,195 (+104.7%), from €16,416 to €33,611
- Other debts +€5,290
up €5,290 (+654.1%), from €809 to €6,099
- Tax, wage and social debts -€2,048
down €2,048 (-15.7%), from €13,045 to €10,997
- Trade debts -€769
down €769 (-40.4%), from €1,902 to €1,133
- Gross operating margin +€2,082
up €2,082 (+9.9%), from €20,947 to €23,029
- Depreciation +€865
new in 2025: €865
- Taxes +€283
up €283 (+6.6%), from €4,280 to €4,564
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 | €36,172 | €55,840 | +€19,668 | +54.4% |
| Fixed assets | 21/28 | - | €1,882 | +€1,882 | |
| Tangible fixed assets | 22/27 | - | €1,882 | +€1,882 | |
| Plant, machinery and equipment | 23 | - | €1,882 | +€1,882 | |
| Current assets | 29/58 | €36,172 | €53,958 | +€17,786 | +49.2% |
| Amounts receivable within one year | 40/41 | €11,216 | €10,665 | -€551 | -4.9% |
| Trade receivables | 40 | €11,216 | €10,665 | -€551 | -4.9% |
| Cash at bank and in hand | 54/58 | €24,956 | €43,292 | +€18,336 | +73.5% |
| Total equity and liabilities | 10/49 | €36,172 | €55,840 | +€19,668 | +54.4% |
| Equity | 10/15 | €20,416 | €37,611 | +€17,195 | +84.2% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Outside capital | 11 | €4,000 | €4,000 | = | 0.0% |
| Other | 1109/19 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €16,416 | €33,611 | +€17,195 | +104.7% |
| Distributable reserves | 133 | €16,416 | €33,611 | +€17,195 | +104.7% |
| Amounts payable | 17/49 | €15,756 | €18,228 | +€2,473 | +15.7% |
| Amounts payable within one year | 42/48 | €15,756 | €18,228 | +€2,473 | +15.7% |
| Trade debts | 44 | €1,902 | €1,133 | -€769 | -40.4% |
| Suppliers | 440/4 | €1,902 | €1,133 | -€769 | -40.4% |
| Taxes, remuneration and social security | 45 | €13,045 | €10,997 | -€2,048 | -15.7% |
| Taxes | 450/3 | €13,045 | €10,997 | -€2,048 | -15.7% |
| Other amounts payable | 47/48 | €809 | €6,099 | +€5,290 | +654.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €865 | +€865 | |
| Other operating charges | 640/8 | €250 | €383 | +€132 | +52.8% |
| Gross operating margin | 9900 | €20,947 | €23,029 | +€2,082 | +9.9% |
| Operating profit (loss) | 9901 | €20,697 | €21,781 | +€1,084 | +5.2% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | - | €25 | +€25 | |
| Recurring financial charges | 65 | - | €25 | +€25 | |
| Profit (loss) for the period before taxes | 9903 | €20,697 | €21,759 | +€1,062 | +5.1% |
| Income taxes | 67/77 | €4,280 | €4,564 | +€283 | +6.6% |
| Profit (loss) for the period | 9904 | €16,416 | €17,195 | +€779 | +4.7% |
| Profit (loss) for the period to be appropriated | 9905 | €16,416 | €17,195 | +€779 | +4.7% |
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 3 October 2026 via checked.be.