BERTEYN BOUW: 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.
BERTEYN BOUW
Largest movements
- Receivables within one year +€6,350
up €6,350 (+104%), from €6,123 to €12,473
of which Trade receivables: +€6,040
- Deferred charges and accrued income -€3,795
down €3,795 (-36.2%), from €10,473 to €6,678
- Stocks and contracts -€3,000
down €3,000 (-50.0%), from €6,000 to €3,000
- Tangible fixed assets +€1,151
up €1,151 (+96.1%), from €1,197 to €2,348
- Cash +€475
up €475 (+5,611%), from €8 to €483
mainly Net result for the year (+€13,148) and Deferred charges and accrued income (+€3,795)
- Profit (loss) carried forward +€13,148
up €13,148 (+15.6%), from -€84,273 to -€71,125
- Debts after one year -€9,131
down €9,131 (-25.5%), from €35,821 to €26,690
of which Financial debts: -€9,131
- Current portion of long-term debt -€3,978
down €3,978 (-30.3%), from €13,108 to €9,131
- Trade debts +€2,862
up €2,862 (+10.7%), from €26,678 to €29,540
- Tax, wage and social debts -€2,637
down €2,637 (-58.7%), from €4,488 to €1,851
of which Remuneration and social security: -€2,275
- Gross operating margin -€27,226
down €27,226 (-61.2%), from €44,454 to €17,228
- Write-downs -€11,202
down €11,202 (-100%), from €11,202 to €0
- Financial charges -€8,422
down €8,422 (-74.5%), from €11,302 to €2,880
- Depreciation -€520
down €520 (-50.9%), from €1,022 to €502
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 | €24,897 | €26,078 | +€1,180 | +4.7% |
| Fixed assets | 21/28 | €2,292 | €3,443 | +€1,151 | +50.2% |
| Tangible fixed assets | 22/27 | €1,197 | €2,348 | +€1,151 | +96.1% |
| Furniture and vehicles | 24 | €1,197 | €2,348 | +€1,151 | +96.1% |
| Financial fixed assets | 28 | €1,095 | €1,095 | = | 0.0% |
| Current assets | 29/58 | €22,605 | €22,635 | +€29 | +0.1% |
| Stocks and contracts in progress | 3 | €6,000 | €3,000 | -€3,000 | -50.0% |
| Stocks | 30/36 | €6,000 | €3,000 | -€3,000 | -50.0% |
| Amounts receivable within one year | 40/41 | €6,123 | €12,473 | +€6,350 | +104% |
| Trade receivables | 40 | €4,349 | €10,389 | +€6,040 | +139% |
| Other amounts receivable | 41 | €1,775 | €2,084 | +€310 | +17.4% |
| Cash at bank and in hand | 54/58 | €8 | €483 | +€475 | +5,611% |
| Deferred charges and accrued income | 490/1 | €10,473 | €6,678 | -€3,795 | -36.2% |
| Total equity and liabilities | 10/49 | €24,897 | €26,078 | +€1,180 | +4.7% |
| Equity | 10/15 | -€63,813 | -€50,665 | +€13,148 | +20.6% |
| 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 | -€84,273 | -€71,125 | +€13,148 | +15.6% |
| Amounts payable | 17/49 | €88,710 | €76,743 | -€11,967 | -13.5% |
| Amounts payable after more than one year | 17 | €35,821 | €26,690 | -€9,131 | -25.5% |
| Financial debts | 170/4 | €22,028 | €12,897 | -€9,131 | -41.5% |
| Other amounts payable | 178/9 | €13,794 | €13,794 | = | 0.0% |
| Amounts payable within one year | 42/48 | €52,524 | €50,053 | -€2,472 | -4.7% |
| Current portion of amounts payable after more than one year | 42 | €13,108 | €9,131 | -€3,978 | -30.3% |
| Trade debts | 44 | €26,678 | €29,540 | +€2,862 | +10.7% |
| Suppliers | 440/4 | €26,678 | €29,540 | +€2,862 | +10.7% |
| Advances received on contracts in progress | 46 | €4,250 | €4,250 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €4,488 | €1,851 | -€2,637 | -58.7% |
| Taxes | 450/3 | €2,213 | €1,851 | -€362 | -16.4% |
| Remuneration and social security | 454/9 | €2,275 | €0 | -€2,275 | -100% |
| Other amounts payable | 47/48 | €4,000 | €5,280 | +€1,280 | +32.0% |
| Accrued charges and deferred income | 492/3 | €365 | €0 | -€365 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,022 | €502 | -€520 | -50.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €11,202 | €0 | -€11,202 | -100% |
| Other operating charges | 640/8 | €669 | €525 | -€144 | -21.5% |
| Non-recurring operating charges | 66A | €457 | - | -€457 | |
| Gross operating margin | 9900 | €44,454 | €17,228 | -€27,226 | -61.2% |
| Operating profit (loss) | 9901 | €31,104 | €16,201 | -€14,903 | -47.9% |
| Financial charges | 65/66B | €11,302 | €2,880 | -€8,422 | -74.5% |
| Recurring financial charges | 65 | €11,302 | €2,880 | -€8,422 | -74.5% |
| Profit (loss) for the period before taxes | 9903 | €19,802 | €13,321 | -€6,481 | -32.7% |
| Income taxes | 67/77 | €178 | €174 | -€4 | -2.1% |
| Profit (loss) for the period | 9904 | €19,624 | €13,148 | -€6,477 | -33.0% |
| Profit (loss) for the period to be appropriated | 9905 | €19,624 | €13,148 | -€6,477 | -33.0% |
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 30 October 2026 via checked.be.