BERTELS DIETER: 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 DIETER
Largest movements
- Cash +€78,811
up €78,811 (+68.9%), from €114,306 to €193,117
mainly Other debts (+€180,561) and Net result for the year (+€69,061)
- Receivables within one year -€14,466
down €14,466 (-70.8%), from €20,434 to €5,968
of which Trade receivables: -€11,388
- Deferred charges and accrued income +€6,968
up €6,968 (+21,727%), from €32 to €7,000
- Other debts +€180,561
up €180,561 (+5,300%), from €3,407 to €183,968
- Reserves -€111,589
down €111,589 (-87.6%), from €127,398 to €15,809
- Trade debts +€8,590
up €8,590 (+1,387%), from €619 to €9,209
- Debts after one year -€5,007
down €5,007 (-79.6%), from €6,289 to €1,281
- Tax, wage and social debts -€3,049
down €3,049 (-77.2%), from €3,949 to €900
- Gross operating margin +€11,928
up €11,928 (+13.9%), from €86,026 to €97,954
- Depreciation -€9,210
down €9,210 (-68.2%), from €13,512 to €4,302
- Taxes +€5,766
up €5,766 (+32.1%), from €17,949 to €23,714
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 | €151,037 | €220,174 | +€69,137 | +45.8% |
| Fixed assets | 21/28 | €16,265 | €14,089 | -€2,176 | -13.4% |
| Intangible fixed assets | 21 | €1,241 | €771 | -€470 | -37.9% |
| Tangible fixed assets | 22/27 | €15,024 | €13,318 | -€1,706 | -11.4% |
| Land and buildings | 22 | €1,693 | €1,504 | -€189 | -11.2% |
| Plant, machinery and equipment | 23 | €5,984 | €4,373 | -€1,611 | -26.9% |
| Furniture and vehicles | 24 | €3,937 | €4,398 | +€461 | +11.7% |
| Other tangible fixed assets | 26 | €3,410 | €3,043 | -€367 | -10.7% |
| Current assets | 29/58 | €134,772 | €206,085 | +€71,313 | +52.9% |
| Amounts receivable within one year | 40/41 | €20,434 | €5,968 | -€14,466 | -70.8% |
| Trade receivables | 40 | €11,412 | €24 | -€11,388 | -99.8% |
| Other amounts receivable | 41 | €9,022 | €5,943 | -€3,079 | -34.1% |
| Cash at bank and in hand | 54/58 | €114,306 | €193,117 | +€78,811 | +68.9% |
| Deferred charges and accrued income | 490/1 | €32 | €7,000 | +€6,968 | +21,727% |
| Total equity and liabilities | 10/49 | €151,037 | €220,174 | +€69,137 | +45.8% |
| Equity | 10/15 | €131,398 | €19,809 | -€111,589 | -84.9% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €127,398 | €15,809 | -€111,589 | -87.6% |
| Distributable reserves | 133 | €127,398 | €15,809 | -€111,589 | -87.6% |
| Amounts payable | 17/49 | €19,640 | €200,366 | +€180,726 | +920% |
| Amounts payable after more than one year | 17 | €6,289 | €1,281 | -€5,007 | -79.6% |
| Financial debts | 170/4 | €6,289 | €1,281 | -€5,007 | -79.6% |
| Amounts payable within one year | 42/48 | €13,351 | €199,084 | +€185,733 | +1,391% |
| Current portion of amounts payable after more than one year | 42 | €5,376 | €5,007 | -€369 | -6.9% |
| Trade debts | 44 | €619 | €9,209 | +€8,590 | +1,387% |
| Suppliers | 440/4 | €619 | €9,209 | +€8,590 | +1,387% |
| Taxes, remuneration and social security | 45 | €3,949 | €900 | -€3,049 | -77.2% |
| Taxes | 450/3 | €3,949 | €900 | -€3,049 | -77.2% |
| Other amounts payable | 47/48 | €3,407 | €183,968 | +€180,561 | +5,300% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,512 | €4,302 | -€9,210 | -68.2% |
| Other operating charges | 640/8 | €847 | €847 | -€1 | -0.1% |
| Gross operating margin | 9900 | €86,026 | €97,954 | +€11,928 | +13.9% |
| Operating profit (loss) | 9901 | €71,667 | €92,805 | +€21,139 | +29.5% |
| Financial income | 75/76B | €207 | €164 | -€43 | -20.9% |
| Recurring financial income | 75 | €207 | €164 | -€43 | -20.9% |
| Financial charges | 65/66B | €281 | €194 | -€87 | -31.1% |
| Recurring financial charges | 65 | €281 | €194 | -€87 | -31.1% |
| Profit (loss) for the period before taxes | 9903 | €71,593 | €92,775 | +€21,183 | +29.6% |
| Income taxes | 67/77 | €17,949 | €23,714 | +€5,766 | +32.1% |
| Profit (loss) for the period | 9904 | €53,644 | €69,061 | +€15,417 | +28.7% |
| Profit (loss) for the period to be appropriated | 9905 | €53,644 | €69,061 | +€15,417 | +28.7% |
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 20 October 2026 via checked.be.