Berthels Logistics: 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.
Berthels Logistics
Largest movements
- Tangible fixed assets +€76,666
up €76,666 (+15.5%), from €495,176 to €571,842
of which Land and buildings: +€149,334
- Cash +€60,405
up €60,405 (+823.3%), from €7,337 to €67,742
mainly Net result for the year (+€176,757) and Depreciation (+€93,812)
- Receivables within one year +€35,277
up €35,277 (+24.0%), from €147,015 to €182,292
of which Trade receivables: +€23,419
- Reserves +€176,757
up €176,757 (+49.8%), from €354,903 to €531,660
of which Non-distributable reserves: +€176,757
- Gross operating margin +€49,450
up €49,450 (+16.0%), from €309,476 to €358,926
- Depreciation +€42,685
up €42,685 (+83.5%), from €51,127 to €93,812
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.
Cash bridge derived
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 | €655,700 | €827,900 | +€172,200 | +26.3% |
| Fixed assets | 21/28 | €495,176 | €571,842 | +€76,666 | +15.5% |
| Tangible fixed assets | 22/27 | €495,176 | €571,842 | +€76,666 | +15.5% |
| Land and buildings | 22 | €248,066 | €397,400 | +€149,334 | +60.2% |
| Furniture and vehicles | 24 | €247,109 | €174,441 | -€72,668 | -29.4% |
| Current assets | 29/58 | €160,524 | €256,058 | +€95,534 | +59.5% |
| Amounts receivable within one year | 40/41 | €147,015 | €182,292 | +€35,277 | +24.0% |
| Trade receivables | 40 | €147,015 | €170,434 | +€23,419 | +15.9% |
| Other amounts receivable | 41 | - | €11,858 | +€11,858 | |
| Cash at bank and in hand | 54/58 | €7,337 | €67,742 | +€60,405 | +823.3% |
| Deferred charges and accrued income | 490/1 | €6,173 | €6,025 | -€148 | -2.4% |
| Total equity and liabilities | 10/49 | €655,700 | €827,900 | +€172,200 | +26.3% |
| Equity | 10/15 | €623,415 | €800,173 | +€176,757 | +28.4% |
| Contributions | 10/11 | €268,512 | €268,512 | = | 0.0% |
| Reserves | 13 | €354,903 | €531,660 | +€176,757 | +49.8% |
| Non-distributable reserves | 130/1 | €343,964 | €520,721 | +€176,757 | +51.4% |
| Reserves not available under the articles | 1311 | €343,964 | €520,721 | +€176,757 | +51.4% |
| Distributable reserves | 133 | €10,940 | €10,940 | = | 0.0% |
| Amounts payable | 17/49 | €32,285 | €27,728 | -€4,557 | -14.1% |
| Amounts payable within one year | 42/48 | €32,285 | €27,728 | -€4,557 | -14.1% |
| Trade debts | 44 | €924 | €1,442 | +€519 | +56.2% |
| Suppliers | 440/4 | €924 | €1,442 | +€519 | +56.2% |
| Taxes, remuneration and social security | 45 | €26,715 | €26,285 | -€430 | -1.6% |
| Taxes | 450/3 | €26,715 | €26,285 | -€430 | -1.6% |
| Other amounts payable | 47/48 | €4,646 | - | -€4,646 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,127 | €93,812 | +€42,685 | +83.5% |
| Other operating charges | 640/8 | €2,930 | €5,122 | +€2,191 | +74.8% |
| Gross operating margin | 9900 | €309,476 | €358,926 | +€49,450 | +16.0% |
| Operating profit (loss) | 9901 | €255,419 | €259,993 | +€4,574 | +1.8% |
| Financial income | 75/76B | €1 | €159 | +€158 | +26358.3% |
| Recurring financial income | 75 | €1 | €159 | +€158 | +26358.3% |
| Non-recurring financial income | 76B | - | €159 | +€159 | |
| Financial charges | 65/66B | €1,155 | €548 | -€607 | -52.5% |
| Recurring financial charges | 65 | €496 | €516 | +€20 | +4.1% |
| Non-recurring financial charges | 66B | €659 | €32 | -€627 | -95.1% |
| Profit (loss) for the period before taxes | 9903 | €254,265 | €259,603 | +€5,339 | +2.1% |
| Income taxes | 67/77 | €81,952 | €82,846 | +€894 | +1.1% |
| Profit (loss) for the period | 9904 | €172,312 | €176,757 | +€4,445 | +2.6% |
| Profit (loss) for the period to be appropriated | 9905 | €172,312 | €176,757 | +€4,445 | +2.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.