BERTELLI F: what changed
What changed
BERTELLI F
filed annual accounts (NBB)
Net result for the year
-€4,720
2024 · €16,912-€21,632
Equity
€32,682
2024 · €37,402-€4,720
Cash
€37,270
2024 · €48,612-€11,342
Balance sheet total
€98,034
2024 · €117,345-€19,310
Largest movements
Assets
- Cash -€11,342
down €11,342 (-23.3%), from €48,612 to €37,270
mainly Debts after one year (-€8,108) and Trade debts (-€6,710)
- Tangible fixed assets -€8,048
down €8,048 (-12.5%), from €64,211 to €56,164
Equity and liabilities
- Debts after one year -€8,108
down €8,108 (-13.1%), from €62,043 to €53,936
- Trade debts -€6,710
down €6,710 (-67.4%), from €9,959 to €3,249
- Profit (loss) carried forward -€4,720
down €4,720 (-27.9%), from €16,942 to €12,222
Income statement
- Gross operating margin -€16,780
down €16,780 (-54.2%), from €30,984 to €14,204
- Taxes +€4,592
up €4,592, from -€706 to €3,886
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
€16,912
Gross operating margin
-€16,780
Staff costs
-€113
Other operating charges
-€298
Financial income
-€14
Financial charges
+€165
Taxes
-€4,592
Result 2025
-€4,720
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
-€3,402
Investment
€0
Financing
-€7,939
Cash 2024
€48,612
From operations (derived)
-€3,402
Net result for the year
-€4,720
Depreciation
+€8,048
Receivables within one year
-€79
Trade debts
-€6,710
Other debts
+€59
Financing
-€7,939
Debts after one year
-€8,108
Current portion of long-term debt
+€168
Cash 2025
€37,270
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €117,345 | €98,034 | -€19,310 | -16.5% |
| Fixed assets | 21/28 | €64,281 | €56,234 | -€8,048 | -12.5% |
| Tangible fixed assets | 22/27 | €64,211 | €56,164 | -€8,048 | -12.5% |
| Land and buildings | 22 | €64,211 | €56,164 | -€8,048 | -12.5% |
| Financial fixed assets | 28 | €70 | €70 | = | 0.0% |
| Current assets | 29/58 | €53,063 | €41,801 | -€11,263 | -21.2% |
| Amounts receivable within one year | 40/41 | €4,451 | €4,530 | +€79 | +1.8% |
| Trade receivables | 40 | €4,197 | €4,530 | +€334 | +8.0% |
| Other amounts receivable | 41 | €255 | - | -€255 | |
| Cash at bank and in hand | 54/58 | €48,612 | €37,270 | -€11,342 | -23.3% |
| Total equity and liabilities | 10/49 | €117,345 | €98,034 | -€19,310 | -16.5% |
| Equity | 10/15 | €37,402 | €32,682 | -€4,720 | -12.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,942 | €12,222 | -€4,720 | -27.9% |
| Amounts payable | 17/49 | €79,942 | €65,352 | -€14,590 | -18.3% |
| Amounts payable after more than one year | 17 | €62,043 | €53,936 | -€8,108 | -13.1% |
| Financial debts | 170/4 | €62,043 | €53,936 | -€8,108 | -13.1% |
| Amounts payable within one year | 42/48 | €17,899 | €11,416 | -€6,482 | -36.2% |
| Current portion of amounts payable after more than one year | 42 | €7,939 | €8,108 | +€168 | +2.1% |
| Trade debts | 44 | €9,959 | €3,249 | -€6,710 | -67.4% |
| Suppliers | 440/4 | €9,959 | €3,249 | -€6,710 | -67.4% |
| Other amounts payable | 47/48 | - | €59 | +€59 | |
| Remuneration, social security and pensions | 62 | €4,684 | €4,797 | +€113 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,048 | €8,048 | = | 0.0% |
| Other operating charges | 640/8 | €399 | €697 | +€298 | +74.7% |
| Gross operating margin | 9900 | €30,984 | €14,204 | -€16,780 | -54.2% |
| Operating profit (loss) | 9901 | €17,854 | €663 | -€17,191 | -96.3% |
| Financial income | 75/76B | €15 | €1 | -€14 | -93.1% |
| Recurring financial income | 75 | €15 | €1 | -€14 | -93.1% |
| Financial charges | 65/66B | €1,662 | €1,498 | -€165 | -9.9% |
| Recurring financial charges | 65 | €1,662 | €1,498 | -€165 | -9.9% |
| Profit (loss) for the period before taxes | 9903 | €16,206 | -€834 | -€17,040 | |
| Income taxes | 67/77 | -€706 | €3,886 | +€4,592 | |
| Profit (loss) for the period | 9904 | €16,912 | -€4,720 | -€21,632 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,912 | -€4,720 | -€21,632 |
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 3 November 2026 via checked.be.