BIRKENFELS: 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.
BIRKENFELS
Largest movements
- Current investments -€40,263
down €40,263 (-4.2%), from €960,634 to €920,371
- Tangible fixed assets +€16,953
up €16,953 (+56.8%), from €29,825 to €46,778
of which Furniture and vehicles: +€17,638
- Reserves -€38,016
down €38,016 (-3.2%), from €1.2m to €1.2m
- Financial charges -€49,235
down €49,235 (-98.7%), from €49,877 to €643
- Gross operating margin -€47,059
down €47,059 (-102.1%), from -€46,094 to -€93,152
- Financial income -€31,744
down €31,744 (-24.4%), from €130,201 to €98,457
- Taxes -€14,751
down €14,751, from €14,686 to -€65
- Depreciation +€2,729
up €2,729 (+23.9%), from €11,406 to €14,135
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 | €1,221,445 | €1,184,867 | -€36,578 | -3.0% |
| Fixed assets | 21/28 | €79,881 | €96,834 | +€16,953 | +21.2% |
| Tangible fixed assets | 22/27 | €29,825 | €46,778 | +€16,953 | +56.8% |
| Plant, machinery and equipment | 23 | €1,396 | €711 | -€685 | -49.1% |
| Furniture and vehicles | 24 | €28,429 | €46,068 | +€17,638 | +62.0% |
| Financial fixed assets | 28 | €50,056 | €50,056 | = | 0.0% |
| Current assets | 29/58 | €1,141,564 | €1,088,033 | -€53,531 | -4.7% |
| Amounts receivable within one year | 40/41 | €54,808 | €45,956 | -€8,852 | -16.2% |
| Trade receivables | 40 | €40,788 | €29,644 | -€11,144 | -27.3% |
| Other amounts receivable | 41 | €14,020 | €16,312 | +€2,292 | +16.3% |
| Current investments | 50/53 | €960,634 | €920,371 | -€40,263 | -4.2% |
| Cash at bank and in hand | 54/58 | €101,423 | €99,048 | -€2,375 | -2.3% |
| Deferred charges and accrued income | 490/1 | €24,699 | €22,658 | -€2,041 | -8.3% |
| Total equity and liabilities | 10/49 | €1,221,445 | €1,184,867 | -€36,578 | -3.0% |
| Equity | 10/15 | €1,211,468 | €1,173,452 | -€38,016 | -3.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,192,868 | €1,154,852 | -€38,016 | -3.2% |
| Distributable reserves | 133 | €1,192,868 | €1,154,852 | -€38,016 | -3.2% |
| Amounts payable | 17/49 | €9,977 | €11,415 | +€1,438 | +14.4% |
| Amounts payable within one year | 42/48 | €9,977 | €11,415 | +€1,438 | +14.4% |
| Trade debts | 44 | €2,709 | €3,266 | +€557 | +20.5% |
| Suppliers | 440/4 | €2,709 | €3,266 | +€557 | +20.5% |
| Taxes, remuneration and social security | 45 | €6,186 | €5,741 | -€444 | -7.2% |
| Taxes | 450/3 | €6,186 | €5,741 | -€444 | -7.2% |
| Other amounts payable | 47/48 | €1,083 | €2,408 | +€1,326 | +122.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,406 | €14,135 | +€2,729 | +23.9% |
| Other operating charges | 640/8 | €1,952 | €1,777 | -€176 | -9.0% |
| Non-recurring operating charges | 66A | - | €26,831 | +€26,831 | |
| Gross operating margin | 9900 | -€46,094 | -€93,152 | -€47,059 | -102.1% |
| Operating profit (loss) | 9901 | -€59,452 | -€135,895 | -€76,444 | -128.6% |
| Financial income | 75/76B | €130,201 | €98,457 | -€31,744 | -24.4% |
| Recurring financial income | 75 | €130,201 | €98,457 | -€31,744 | -24.4% |
| Financial charges | 65/66B | €49,877 | €643 | -€49,235 | -98.7% |
| Recurring financial charges | 65 | €49,877 | €643 | -€49,235 | -98.7% |
| Profit (loss) for the period before taxes | 9903 | €20,872 | -€38,081 | -€58,953 | |
| Income taxes | 67/77 | €14,686 | -€65 | -€14,751 | |
| Profit (loss) for the period | 9904 | €6,186 | -€38,016 | -€44,202 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,186 | -€38,016 | -€44,202 |
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 12 October 2026 via checked.be.