BERTRAND.BRUSSELS: 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.
BERTRAND.BRUSSELS
Largest movements
- Stocks and contracts +€19,411
up €19,411 (+1,265%), from €1,535 to €20,946
- Receivables within one year -€8,967
down €8,967 (-8.8%), from €101,465 to €92,498
of which Trade receivables: -€9,953
- Tangible fixed assets -€6,271
down €6,271 (-24.1%), from €26,040 to €19,769
of which Other tangible fixed assets: -€4,991
- Cash +€2,006
up €2,006 (+140%), from €1,435 to €3,442
mainly Trade debts (+€18,182) and Net result for the year (+€17,271)
- Advances received -€26,502
down €26,502 (-60.8%), from €43,608 to €17,106
- Trade debts +€18,182
up €18,182 (+38.4%), from €47,386 to €65,568
- Profit (loss) carried forward +€17,271
up €17,271 (+93.7%), from -€18,435 to -€1,164
- Debts after one year -€3,983
down €3,983 (-85.6%), from €4,656 to €673
- Short-term financial debts +€1,970
up €1,970 (+66.5%), from €2,961 to €4,931
- Gross operating margin -€9,470
down €9,470 (-28.0%), from €33,799 to €24,329
- Financial charges -€2,592
down €2,592 (-80.9%), from €3,203 to €611
of which Non-recurring financial charges: -€1,479
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €130,475 | €136,654 | +€6,179 | +4.7% |
| Fixed assets | 21/28 | €26,040 | €19,769 | -€6,271 | -24.1% |
| Tangible fixed assets | 22/27 | €26,040 | €19,769 | -€6,271 | -24.1% |
| Plant, machinery and equipment | 23 | €1,851 | €1,576 | -€275 | -14.9% |
| Furniture and vehicles | 24 | €3,963 | €2,959 | -€1,005 | -25.4% |
| Other tangible fixed assets | 26 | €20,226 | €15,234 | -€4,991 | -24.7% |
| Current assets | 29/58 | €104,435 | €116,885 | +€12,450 | +11.9% |
| Stocks and contracts in progress | 3 | €1,535 | €20,946 | +€19,411 | +1,265% |
| Stocks | 30/36 | €1,535 | €20,946 | +€19,411 | +1,265% |
| Amounts receivable within one year | 40/41 | €101,465 | €92,498 | -€8,967 | -8.8% |
| Trade receivables | 40 | €100,735 | €90,782 | -€9,953 | -9.9% |
| Other amounts receivable | 41 | €730 | €1,716 | +€986 | +135% |
| Cash at bank and in hand | 54/58 | €1,435 | €3,442 | +€2,006 | +140% |
| Total equity and liabilities | 10/49 | €130,475 | €136,654 | +€6,179 | +4.7% |
| Equity | 10/15 | -€6,035 | €11,236 | +€17,271 | |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,435 | -€1,164 | +€17,271 | +93.7% |
| Amounts payable | 17/49 | €136,510 | €125,418 | -€11,092 | -8.1% |
| Amounts payable after more than one year | 17 | €4,656 | €673 | -€3,983 | -85.6% |
| Financial debts | 170/4 | €4,656 | €673 | -€3,983 | -85.6% |
| Amounts payable within one year | 42/48 | €131,854 | €124,745 | -€7,109 | -5.4% |
| Current portion of amounts payable after more than one year | 42 | €3,892 | €3,983 | +€91 | +2.3% |
| Financial debts | 43 | €2,961 | €4,931 | +€1,970 | +66.5% |
| Credit institutions | 430/8 | €2,961 | €4,931 | +€1,970 | +66.5% |
| Trade debts | 44 | €47,386 | €65,568 | +€18,182 | +38.4% |
| Suppliers | 440/4 | €47,386 | €65,568 | +€18,182 | +38.4% |
| Advances received on contracts in progress | 46 | €43,608 | €17,106 | -€26,502 | -60.8% |
| Taxes, remuneration and social security | 45 | €1,874 | €1,874 | = | 0.0% |
| Remuneration and social security | 454/9 | €1,874 | €1,874 | = | 0.0% |
| Other amounts payable | 47/48 | €32,131 | €31,283 | -€849 | -2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,392 | €6,271 | -€121 | -1.9% |
| Other operating charges | 640/8 | €95 | €175 | +€80 | +83.7% |
| Gross operating margin | 9900 | €33,799 | €24,329 | -€9,470 | -28.0% |
| Operating profit (loss) | 9901 | €27,311 | €17,882 | -€9,428 | -34.5% |
| Financial charges | 65/66B | €3,203 | €611 | -€2,592 | -80.9% |
| Recurring financial charges | 65 | €1,724 | €611 | -€1,113 | -64.6% |
| Non-recurring financial charges | 66B | €1,479 | - | -€1,479 | |
| Profit (loss) for the period before taxes | 9903 | €24,107 | €17,271 | -€6,836 | -28.4% |
| Profit (loss) for the period | 9904 | €24,107 | €17,271 | -€6,836 | -28.4% |
| Profit (loss) for the period to be appropriated | 9905 | €24,107 | €17,271 | -€6,836 | -28.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.