Bertels Ballonvaarten: 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.
Bertels Ballonvaarten
Largest movements
- Cash -€14,191
down €14,191 (-22.0%), from €64,594 to €50,403
mainly Investment in fixed assets (net) (-€39,994) and Net result for the year (-€15,638)
- Tangible fixed assets -€10,251
down €10,251 (-9.3%), from €110,363 to €100,112
of which Plant, machinery and equipment: -€24,567
- Receivables within one year -€4,795
down €4,795 (-22.9%), from €20,965 to €16,169
of which Trade receivables: -€5,334
- Profit (loss) carried forward -€15,638
new in 2025: -€15,638
- Debts after one year -€7,040
down €7,040 (-100%), from €7,040 to €0
- Trade debts -€6,873
down €6,873 (-52.3%), from €13,152 to €6,279
- Other debts -€6,044
down €6,044 (-51.1%), from €11,821 to €5,777
- Current portion of long-term debt +€3,809
up €3,809 (+37.0%), from €10,284 to €14,093
- Gross operating margin -€38,935
down €38,935 (-48.6%), from €80,069 to €41,135
- Depreciation +€7,161
up €7,161 (+16.6%), from €43,083 to €50,245
- Taxes -€4,725
down €4,725 (-94.3%), from €5,013 to €288
- Other operating charges -€3,196
down €3,196 (-39.8%), from €8,023 to €4,827
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.
Derived cash bridge
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 | €201,358 | €170,129 | -€31,229 | -15.5% |
| Fixed assets | 21/28 | €110,363 | €100,112 | -€10,251 | -9.3% |
| Tangible fixed assets | 22/27 | €110,363 | €100,112 | -€10,251 | -9.3% |
| Plant, machinery and equipment | 23 | €63,536 | €38,969 | -€24,567 | -38.7% |
| Furniture and vehicles | 24 | €44,968 | €59,608 | +€14,640 | +32.6% |
| Other tangible fixed assets | 26 | €1,859 | €1,535 | -€324 | -17.4% |
| Current assets | 29/58 | €90,995 | €70,017 | -€20,978 | -23.1% |
| Amounts receivable within one year | 40/41 | €20,965 | €16,169 | -€4,795 | -22.9% |
| Trade receivables | 40 | €18,322 | €12,988 | -€5,334 | -29.1% |
| Other amounts receivable | 41 | €2,642 | €3,182 | +€539 | +20.4% |
| Cash at bank and in hand | 54/58 | €64,594 | €50,403 | -€14,191 | -22.0% |
| Deferred charges and accrued income | 490/1 | €5,437 | €3,445 | -€1,992 | -36.6% |
| Total equity and liabilities | 10/49 | €201,358 | €170,129 | -€31,229 | -15.5% |
| Equity | 10/15 | €159,048 | €143,410 | -€15,638 | -9.8% |
| Contributions | 10/11 | €148,592 | €148,592 | = | 0.0% |
| Reserves | 13 | €10,456 | €10,456 | = | 0.0% |
| Distributable reserves | 133 | €10,456 | €10,456 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€15,638 | -€15,638 | |
| Amounts payable | 17/49 | €42,310 | €26,719 | -€15,591 | -36.8% |
| Amounts payable after more than one year | 17 | €7,040 | €0 | -€7,040 | -100% |
| Financial debts | 170/4 | €7,040 | €0 | -€7,040 | -100% |
| Amounts payable within one year | 42/48 | €35,270 | €26,719 | -€8,551 | -24.2% |
| Current portion of amounts payable after more than one year | 42 | €10,284 | €14,093 | +€3,809 | +37.0% |
| Financial debts | 43 | - | €282 | +€282 | |
| Credit institutions | 430/8 | - | €282 | +€282 | |
| Trade debts | 44 | €13,152 | €6,279 | -€6,873 | -52.3% |
| Suppliers | 440/4 | €13,152 | €6,279 | -€6,873 | -52.3% |
| Taxes, remuneration and social security | 45 | €13 | €288 | +€275 | +2,095% |
| Taxes | 450/3 | €13 | €288 | +€275 | +2,095% |
| Other amounts payable | 47/48 | €11,821 | €5,777 | -€6,044 | -51.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,083 | €50,245 | +€7,161 | +16.6% |
| Other operating charges | 640/8 | €8,023 | €4,827 | -€3,196 | -39.8% |
| Gross operating margin | 9900 | €80,069 | €41,135 | -€38,935 | -48.6% |
| Operating profit (loss) | 9901 | €28,963 | -€13,937 | -€42,899 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -95.5% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -95.5% |
| Financial charges | 65/66B | €1,509 | €1,413 | -€95 | -6.3% |
| Recurring financial charges | 65 | €1,509 | €1,413 | -€95 | -6.3% |
| Profit (loss) for the period before taxes | 9903 | €27,454 | -€15,350 | -€42,804 | |
| Income taxes | 67/77 | €5,013 | €288 | -€4,725 | -94.3% |
| Profit (loss) for the period | 9904 | €22,441 | -€15,638 | -€38,079 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,441 | -€15,638 | -€38,079 |
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 23 October 2026 via checked.be.