BERTRAND FALLON-KUND: 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 FALLON-KUND
Largest movements
- Cash -€120,907
down €120,907 (-82.9%), from €145,818 to €24,911
mainly Other debts (-€117,471) and Contributions, distributions and other (-€95,000)
- Receivables within one year -€5,585
down €5,585 (-48.9%), from €11,415 to €5,830
of which Other amounts receivable: -€3,688
- Deferred charges and accrued income +€4,941
up €4,941 (+2,123%), from €233 to €5,174
- Other debts -€117,471
down €117,471 (-39.2%), from €300,000 to €182,529
- Profit (loss) carried forward -€11,528
down €11,528 (-95.4%), from €12,078 to €550
- Tax, wage and social debts +€6,133
up €6,133 (+40.2%), from €15,258 to €21,391
- Gross operating margin -€7,442
down €7,442 (-5.2%), from €144,252 to €136,811
- Taxes -€2,413
down €2,413 (-9.1%), from €26,446 to €24,033
- Depreciation +€2,268
up €2,268 (+8.7%), from €26,178 to €28,445
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 | €333,340 | €208,476 | -€124,864 | -37.5% |
| Fixed assets | 21/28 | €175,874 | €172,561 | -€3,313 | -1.9% |
| Tangible fixed assets | 22/27 | €175,874 | €172,561 | -€3,313 | -1.9% |
| Furniture and vehicles | 24 | €33,715 | €23,086 | -€10,629 | -31.5% |
| Other tangible fixed assets | 26 | €142,160 | €149,475 | +€7,316 | +5.1% |
| Current assets | 29/58 | €157,466 | €35,916 | -€121,550 | -77.2% |
| Amounts receivable within one year | 40/41 | €11,415 | €5,830 | -€5,585 | -48.9% |
| Trade receivables | 40 | €1,897 | €0 | -€1,897 | -100% |
| Other amounts receivable | 41 | €9,518 | €5,830 | -€3,688 | -38.7% |
| Cash at bank and in hand | 54/58 | €145,818 | €24,911 | -€120,907 | -82.9% |
| Deferred charges and accrued income | 490/1 | €233 | €5,174 | +€4,941 | +2,123% |
| Total equity and liabilities | 10/49 | €333,340 | €208,476 | -€124,864 | -37.5% |
| Equity | 10/15 | €15,078 | €3,550 | -€11,528 | -76.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,078 | €550 | -€11,528 | -95.4% |
| Amounts payable | 17/49 | €318,262 | €204,926 | -€113,336 | -35.6% |
| Amounts payable within one year | 42/48 | €317,602 | €204,926 | -€112,676 | -35.5% |
| Trade debts | 44 | €2,344 | €1,007 | -€1,337 | -57.0% |
| Suppliers | 440/4 | €2,344 | €1,007 | -€1,337 | -57.0% |
| Taxes, remuneration and social security | 45 | €15,258 | €21,391 | +€6,133 | +40.2% |
| Taxes | 450/3 | €15,258 | €21,391 | +€6,133 | +40.2% |
| Other amounts payable | 47/48 | €300,000 | €182,529 | -€117,471 | -39.2% |
| Accrued charges and deferred income | 492/3 | €660 | €0 | -€660 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,178 | €28,445 | +€2,268 | +8.7% |
| Other operating charges | 640/8 | €495 | €780 | +€285 | +57.5% |
| Gross operating margin | 9900 | €144,252 | €136,811 | -€7,442 | -5.2% |
| Operating profit (loss) | 9901 | €117,579 | €107,585 | -€9,994 | -8.5% |
| Financial income | 75/76B | €288 | €0 | -€288 | -100.0% |
| Recurring financial income | 75 | €288 | €0 | -€288 | -100.0% |
| Financial charges | 65/66B | €96 | €80 | -€16 | -16.4% |
| Recurring financial charges | 65 | €96 | €80 | -€16 | -16.4% |
| Profit (loss) for the period before taxes | 9903 | €117,772 | €107,505 | -€10,267 | -8.7% |
| Income taxes | 67/77 | €26,446 | €24,033 | -€2,413 | -9.1% |
| Profit (loss) for the period | 9904 | €91,326 | €83,472 | -€7,854 | -8.6% |
| Profit (loss) for the period to be appropriated | 9905 | €91,326 | €83,472 | -€7,854 | -8.6% |
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 31 October 2026 via checked.be.