BERTH INVEST: what changed
BERTH INVEST
Largest movements
- Stocks and contracts -€491,698
no longer reported in 2025 (was €491,698)
- Cash +€414,354
up €414,354 (+23.5%), from €1.8m to €2.2m
mainly Stocks and contracts (+€491,698) and Receivables within one year (+€139,576)
- Receivables within one year -€139,576
down €139,576 (-20.2%), from €689,501 to €549,925
of which Other amounts receivable: -€169,031
- Receivables after one year +€100,000
new in 2025: €100,000
- Other debts -€150,000
down €150,000 (-97.3%), from €154,215 to €4,215
- Reserves +€37,500
up €37,500 (+3.6%), from €1.1m to €1.1m
of which Distributable reserves: +€37,500
- Gross operating margin +€22,013
up €22,013 (+24.4%), from €90,367 to €112,381
- Taxes +€18,858
up €18,858 (+228%), from €8,281 to €27,140
- Other operating charges +€8,647
up €8,647 (+68.5%), from €12,622 to €21,269
- Financial income -€3,091
down €3,091 (-32.0%), from €9,652 to €6,561
- Depreciation +€1,798
up €1,798 (+6.0%), from €30,052 to €31,851
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,185,239 | €3,078,411 | -€106,828 | -3.4% |
| Fixed assets | 21/28 | €229,119 | €249,595 | +€20,476 | +8.9% |
| Tangible fixed assets | 22/27 | €120,119 | €140,595 | +€20,476 | +17.0% |
| Furniture and vehicles | 24 | €120,119 | €140,595 | +€20,476 | +17.0% |
| Financial fixed assets | 28 | €109,000 | €109,000 | = | 0.0% |
| Current assets | 29/58 | €2,956,120 | €2,828,816 | -€127,304 | -4.3% |
| Amounts receivable after more than one year | 29 | - | €100,000 | +€100,000 | |
| Trade receivables | 290 | - | €100,000 | +€100,000 | |
| Stocks and contracts in progress | 3 | €491,698 | - | -€491,698 | |
| Stocks | 30/36 | €491,698 | - | -€491,698 | |
| Amounts receivable within one year | 40/41 | €689,501 | €549,925 | -€139,576 | -20.2% |
| Trade receivables | 40 | €15,749 | €45,204 | +€29,455 | +187% |
| Other amounts receivable | 41 | €673,752 | €504,721 | -€169,031 | -25.1% |
| Cash at bank and in hand | 54/58 | €1,762,728 | €2,177,082 | +€414,354 | +23.5% |
| Deferred charges and accrued income | 490/1 | €12,193 | €1,810 | -€10,384 | -85.2% |
| Total equity and liabilities | 10/49 | €3,185,239 | €3,078,411 | -€106,828 | -3.4% |
| Equity | 10/15 | €3,017,715 | €3,055,332 | +€37,617 | +1.2% |
| Contributions | 10/11 | €62,100 | €62,100 | = | 0.0% |
| Reserves | 13 | €1,054,500 | €1,092,000 | +€37,500 | +3.6% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €1,035,750 | €1,073,250 | +€37,500 | +3.6% |
| Profit (loss) carried forward | 14 | €1,901,115 | €1,901,232 | +€117 | 0.0% |
| Amounts payable | 17/49 | €167,524 | €23,080 | -€144,445 | -86.2% |
| Amounts payable within one year | 42/48 | €166,111 | €8,640 | -€157,470 | -94.8% |
| Trade debts | 44 | €6,195 | €3,314 | -€2,881 | -46.5% |
| Suppliers | 440/4 | €6,195 | €3,314 | -€2,881 | -46.5% |
| Taxes, remuneration and social security | 45 | €5,701 | €1,112 | -€4,589 | -80.5% |
| Taxes | 450/3 | €4,951 | €362 | -€4,589 | -92.7% |
| Remuneration and social security | 454/9 | €750 | €750 | = | 0.0% |
| Other amounts payable | 47/48 | €154,215 | €4,215 | -€150,000 | -97.3% |
| Accrued charges and deferred income | 492/3 | €1,414 | €14,439 | +€13,026 | +921% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,052 | €31,851 | +€1,798 | +6.0% |
| Other operating charges | 640/8 | €12,622 | €21,269 | +€8,647 | +68.5% |
| Gross operating margin | 9900 | €90,367 | €112,381 | +€22,013 | +24.4% |
| Operating profit (loss) | 9901 | €47,693 | €59,262 | +€11,569 | +24.3% |
| Financial income | 75/76B | €9,652 | €6,561 | -€3,091 | -32.0% |
| Recurring financial income | 75 | €9,652 | €6,561 | -€3,091 | -32.0% |
| Financial charges | 65/66B | €911 | €1,066 | +€155 | +17.0% |
| Recurring financial charges | 65 | €911 | €1,066 | +€155 | +17.0% |
| Profit (loss) for the period before taxes | 9903 | €56,434 | €64,757 | +€8,322 | +14.7% |
| Income taxes | 67/77 | €8,281 | €27,140 | +€18,858 | +228% |
| Profit (loss) for the period | 9904 | €48,153 | €37,617 | -€10,536 | -21.9% |
| Profit (loss) for the period to be appropriated | 9905 | €48,153 | €37,617 | -€10,536 | -21.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.