BERTEM MOTORS: 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.
BERTEM MOTORS
Largest movements
- Tangible fixed assets -€20,797
down €20,797 (-4.5%), from €458,263 to €437,466
of which Land and buildings: -€18,575
- Cash -€12,700
down €12,700 (-31.6%), from €40,229 to €27,529
mainly Debts after one year (-€39,987) and Trade debts (-€6,596)
- Receivables within one year -€6,878
down €6,878 (-20.7%), from €33,156 to €26,278
of which Trade receivables: -€6,877
- Debts after one year -€39,987
down €39,987 (-12.3%), from €324,647 to €284,660
- Reserves +€8,691
up €8,691 (+4.1%), from €211,021 to €219,712
of which Distributable reserves: +€8,691
- Gross operating margin -€18,082
down €18,082 (-15.2%), from €118,730 to €100,648
- Taxes -€7,887
down €7,887 (-64.8%), from €12,164 to €4,277
- Staff costs +€1,241
up €1,241 (+2.3%), from €53,263 to €54,504
- Financial charges -€1,240
down €1,240 (-10.1%), from €12,263 to €11,024
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 | €665,423 | €627,768 | -€37,656 | -5.7% |
| Fixed assets | 21/28 | €458,726 | €437,929 | -€20,797 | -4.5% |
| Tangible fixed assets | 22/27 | €458,263 | €437,466 | -€20,797 | -4.5% |
| Land and buildings | 22 | €452,990 | €434,415 | -€18,575 | -4.1% |
| Plant, machinery and equipment | 23 | €5,091 | €2,759 | -€2,332 | -45.8% |
| Furniture and vehicles | 24 | €182 | €292 | +€110 | +60.5% |
| Financial fixed assets | 28 | €463 | €463 | = | 0.0% |
| Current assets | 29/58 | €206,697 | €189,838 | -€16,859 | -8.2% |
| Stocks and contracts in progress | 3 | €132,646 | €135,346 | +€2,699 | +2.0% |
| Stocks | 30/36 | €132,646 | €135,346 | +€2,699 | +2.0% |
| Amounts receivable within one year | 40/41 | €33,156 | €26,278 | -€6,878 | -20.7% |
| Trade receivables | 40 | €19,313 | €12,436 | -€6,877 | -35.6% |
| Other amounts receivable | 41 | €13,843 | €13,842 | -€1 | 0.0% |
| Cash at bank and in hand | 54/58 | €40,229 | €27,529 | -€12,700 | -31.6% |
| Deferred charges and accrued income | 490/1 | €667 | €686 | +€20 | +2.9% |
| Total equity and liabilities | 10/49 | €665,423 | €627,768 | -€37,656 | -5.7% |
| Equity | 10/15 | €229,621 | €238,312 | +€8,691 | +3.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €211,021 | €219,712 | +€8,691 | +4.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €209,161 | €217,852 | +€8,691 | +4.2% |
| Amounts payable | 17/49 | €435,802 | €389,456 | -€46,347 | -10.6% |
| Amounts payable after more than one year | 17 | €324,647 | €284,660 | -€39,987 | -12.3% |
| Financial debts | 170/4 | €324,647 | €284,660 | -€39,987 | -12.3% |
| Amounts payable within one year | 42/48 | €111,155 | €104,795 | -€6,360 | -5.7% |
| Current portion of amounts payable after more than one year | 42 | €39,049 | €39,987 | +€938 | +2.4% |
| Financial debts | 43 | - | €1,843 | +€1,843 | |
| Credit institutions | 430/8 | - | €1,843 | +€1,843 | |
| Trade debts | 44 | €50,143 | €43,547 | -€6,596 | -13.2% |
| Suppliers | 440/4 | €50,143 | €43,547 | -€6,596 | -13.2% |
| Taxes, remuneration and social security | 45 | €21,963 | €19,418 | -€2,545 | -11.6% |
| Taxes | 450/3 | €14,993 | €10,070 | -€4,923 | -32.8% |
| Remuneration and social security | 454/9 | €6,970 | €9,348 | +€2,378 | +34.1% |
| Remuneration, social security and pensions | 62 | €53,263 | €54,504 | +€1,241 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,446 | €21,222 | -€224 | -1.0% |
| Other operating charges | 640/8 | €1,134 | €951 | -€184 | -16.2% |
| Gross operating margin | 9900 | €118,730 | €100,648 | -€18,082 | -15.2% |
| Operating profit (loss) | 9901 | €42,885 | €23,970 | -€18,915 | -44.1% |
| Financial income | 75/76B | €3 | €21 | +€18 | +552% |
| Recurring financial income | 75 | €3 | €21 | +€18 | +552% |
| Financial charges | 65/66B | €12,263 | €11,024 | -€1,240 | -10.1% |
| Recurring financial charges | 65 | €12,263 | €11,024 | -€1,240 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | €30,625 | €12,968 | -€17,658 | -57.7% |
| Income taxes | 67/77 | €12,164 | €4,277 | -€7,887 | -64.8% |
| Profit (loss) for the period | 9904 | €18,461 | €8,691 | -€9,770 | -52.9% |
| Profit (loss) for the period to be appropriated | 9905 | €18,461 | €8,691 | -€9,770 | -52.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.