BERTIN HOUSE: what changed
Two fiscal 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.
BERTIN HOUSE
Largest movements
- Tangible fixed assets +€103,613
up €103,613 (+60.8%), from €170,304 to €273,917
of which Land and buildings: +€85,495
- Receivables within one year +€27,862
up €27,862 (+55724.1%), from €50 to €27,912
of which Trade receivables: +€26,904
- Debts after one year +€98,058
up €98,058 (+70.3%), from €139,543 to €237,601
of which Financial debts: +€99,558
- Other debts +€64,926
new in 2025: €64,926
- Tax, wage and social debts -€33,331
no longer reported in 2025 (was €33,331)
of which Remuneration and social security: -€35,544
- Profit (loss) carried forward -€32,494
down €32,494 (-98.6%), from -€32,957 to -€65,451
- Trade debts +€23,530
up €23,530, from -€3,483 to €20,047
- Other operating charges -€10,945
down €10,945 (-95.4%), from €11,477 to €532
- Depreciation +€6,544
up €6,544 (+119.0%), from €5,500 to €12,044
- Financial charges +€4,626
up €4,626 (+118.4%), from €3,909 to €8,535
- Gross operating margin -€2,112
down €2,112 (-22.0%), from -€9,601 to -€11,713
- Staff costs -€740
no longer reported in 2025 (was €740)
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 | €176,434 | €305,968 | +€129,534 | +73.4% |
| Formation expenses | 20 | €2,015 | - | -€2,015 | |
| Fixed assets | 21/28 | €170,304 | €273,917 | +€103,613 | +60.8% |
| Tangible fixed assets | 22/27 | €170,304 | €273,917 | +€103,613 | +60.8% |
| Land and buildings | 22 | €168,817 | €254,312 | +€85,495 | +50.6% |
| Plant, machinery and equipment | 23 | €1,486 | €13,049 | +€11,563 | +778.1% |
| Furniture and vehicles | 24 | - | €6,556 | +€6,556 | |
| Current assets | 29/58 | €4,115 | €32,051 | +€27,936 | +678.9% |
| Amounts receivable within one year | 40/41 | €50 | €27,912 | +€27,862 | +55724.1% |
| Trade receivables | 40 | - | €26,904 | +€26,904 | |
| Other amounts receivable | 41 | €50 | €1,008 | +€958 | +1916.0% |
| Cash at bank and in hand | 54/58 | €4,815 | €4,139 | -€676 | -14.0% |
| Deferred charges and accrued income | 490/1 | -€750 | - | +€750 | |
| Total equity and liabilities | 10/49 | €176,434 | €305,968 | +€129,534 | +73.4% |
| Equity | 10/15 | €7,043 | -€25,451 | -€32,494 | |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Capital | 10 | €40,000 | - | -€40,000 | |
| Issued capital | 100 | €40,000 | - | -€40,000 | |
| Profit (loss) carried forward | 14 | -€32,957 | -€65,451 | -€32,494 | -98.6% |
| Amounts payable | 17/49 | €169,391 | €331,420 | +€162,029 | +95.7% |
| Amounts payable after more than one year | 17 | €139,543 | €237,601 | +€98,058 | +70.3% |
| Financial debts | 170/4 | €138,043 | €237,601 | +€99,558 | +72.1% |
| Other amounts payable | 178/9 | €1,500 | - | -€1,500 | |
| Amounts payable within one year | 42/48 | €29,848 | €93,025 | +€63,177 | +211.7% |
| Current portion of amounts payable after more than one year | 42 | - | €4,652 | +€4,652 | |
| Trade debts | 44 | -€3,483 | €20,047 | +€23,530 | |
| Suppliers | 440/4 | -€3,483 | €20,047 | +€23,530 | |
| Advances received on contracts in progress | 46 | - | €3,400 | +€3,400 | |
| Taxes, remuneration and social security | 45 | €33,331 | - | -€33,331 | |
| Taxes | 450/3 | -€2,213 | - | +€2,213 | |
| Remuneration and social security | 454/9 | €35,544 | - | -€35,544 | |
| Other amounts payable | 47/48 | - | €64,926 | +€64,926 | |
| Accrued charges and deferred income | 492/3 | - | €794 | +€794 | |
| Remuneration, social security and pensions | 62 | €740 | - | -€740 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,500 | €12,044 | +€6,544 | +119.0% |
| Other operating charges | 640/8 | €11,477 | €532 | -€10,945 | -95.4% |
| Gross operating margin | 9900 | -€9,601 | -€11,713 | -€2,112 | -22.0% |
| Operating profit (loss) | 9901 | - | -€24,288 | -€24,288 | |
| Financial income | 75/76B | - | €330 | +€330 | |
| Recurring financial income | 75 | - | €330 | +€330 | |
| Financial charges | 65/66B | €3,909 | €8,535 | +€4,626 | +118.4% |
| Recurring financial charges | 65 | €3,909 | €8,535 | +€4,626 | +118.4% |
| Profit (loss) for the period before taxes | 9903 | -€31,227 | -€32,494 | -€1,267 | -4.1% |
| Profit (loss) for the period | 9904 | -€31,227 | -€32,494 | -€1,267 | -4.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€31,227 | -€32,494 | -€1,267 | -4.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.