BURTINVEST: what changed
What changed
BURTINVEST
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
-€3,465
2024 · €37,322-€40,787
Equity
€2.0m
2024 · €2.0m-€3,465
Cash
€38,889
2024 · €59,585-€20,696
Balance sheet total
€4.5m
2024 · €4.7m-€216,326
Largest movements
Assets
- Tangible fixed assets -€139,882
down €139,882 (-3.6%), from €3.9m to €3.7m
of which Land and buildings: -€108,642
- Receivables within one year -€56,726
down €56,726 (-7.1%), from €800,015 to €743,289
of which Trade receivables: -€354,335
Equity and liabilities
- Debts after one year -€134,768
down €134,768 (-6.5%), from €2.1m to €1.9m
of which Financial debts: -€134,768
- Other debts -€75,000
down €75,000 (-15.4%), from €487,880 to €412,880
Income statement
- Gross operating margin -€48,679
down €48,679 (-24.5%), from €198,780 to €150,102
- Taxes -€13,042
down €13,042 (-97.9%), from €13,327 to €285
- Financial income -€4,898
down €4,898 (-100%), from €4,898 to €0
- Depreciation +€2,986
up €2,986 (+2.2%), from €136,896 to €139,882
- Financial charges -€2,467
down €2,467 (-15.8%), from €15,632 to €13,165
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€37,322
Gross operating margin
-€48,679
Depreciation
-€2,986
Other operating charges
+€266
Financial income
-€4,898
Financial charges
+€2,467
Taxes
+€13,042
Result 2025
-€3,465
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€111,968
Investment
€0
Financing
-€132,663
Cash 2024
€59,585
From operations (derived)
+€111,968
Net result for the year
-€3,465
Depreciation
+€139,882
Receivables within one year
+€56,726
Deferred charges and accrued income
-€977
Trade debts
-€43
Tax, wage and social debts
+€3,173
Other debts
-€75,000
Accrued charges and deferred income
-€8,328
Financing
-€132,663
Debts after one year
-€134,768
Current portion of long-term debt
+€2,105
Cash 2025
€38,889
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,735,790 | €4,519,463 | -€216,326 | -4.6% |
| Fixed assets | 21/28 | €3,873,184 | €3,733,302 | -€139,882 | -3.6% |
| Tangible fixed assets | 22/27 | €3,873,184 | €3,733,302 | -€139,882 | -3.6% |
| Land and buildings | 22 | €3,750,773 | €3,642,131 | -€108,642 | -2.9% |
| Plant, machinery and equipment | 23 | €986 | €406 | -€579 | -58.8% |
| Furniture and vehicles | 24 | €121,426 | €90,764 | -€30,661 | -25.3% |
| Current assets | 29/58 | €862,606 | €786,161 | -€76,444 | -8.9% |
| Amounts receivable within one year | 40/41 | €800,015 | €743,289 | -€56,726 | -7.1% |
| Trade receivables | 40 | €364,015 | €9,680 | -€354,335 | -97.3% |
| Other amounts receivable | 41 | €436,000 | €733,609 | +€297,609 | +68.3% |
| Cash at bank and in hand | 54/58 | €59,585 | €38,889 | -€20,696 | -34.7% |
| Deferred charges and accrued income | 490/1 | €3,006 | €3,983 | +€977 | +32.5% |
| Total equity and liabilities | 10/49 | €4,735,790 | €4,519,463 | -€216,326 | -4.6% |
| Equity | 10/15 | €1,996,945 | €1,993,480 | -€3,465 | -0.2% |
| Contributions | 10/11 | €491,051 | €491,051 | = | 0.0% |
| Capital | 10 | €404,288 | €404,288 | = | 0.0% |
| Issued capital | 100 | €404,288 | €404,288 | = | 0.0% |
| Contributions outside capital | 11 | €86,763 | €86,763 | = | 0.0% |
| Share premium | 1100/10 | €86,763 | €86,763 | = | 0.0% |
| Reserves | 13 | €608,695 | €608,695 | = | 0.0% |
| Non-distributable reserves | 130/1 | €40,429 | €40,429 | = | 0.0% |
| Legal reserve | 130 | €40,429 | €40,429 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,534 | €9,534 | = | 0.0% |
| Distributable reserves | 133 | €558,732 | €558,732 | = | 0.0% |
| Profit (loss) carried forward | 14 | €897,199 | €893,734 | -€3,465 | -0.4% |
| Amounts payable | 17/49 | €2,738,845 | €2,525,983 | -€212,861 | -7.8% |
| Amounts payable after more than one year | 17 | €2,081,165 | €1,946,397 | -€134,768 | -6.5% |
| Financial debts | 170/4 | €881,165 | €746,397 | -€134,768 | -15.3% |
| Other amounts payable | 178/9 | €1,200,000 | €1,200,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €648,816 | €579,051 | -€69,766 | -10.8% |
| Current portion of amounts payable after more than one year | 42 | €137,569 | €139,673 | +€2,105 | +1.5% |
| Trade debts | 44 | €4,968 | €4,924 | -€43 | -0.9% |
| Suppliers | 440/4 | €4,968 | €4,924 | -€43 | -0.9% |
| Taxes, remuneration and social security | 45 | €18,400 | €21,573 | +€3,173 | +17.2% |
| Taxes | 450/3 | €14,600 | €14,723 | +€123 | +0.8% |
| Remuneration and social security | 454/9 | €3,800 | €6,850 | +€3,050 | +80.3% |
| Other amounts payable | 47/48 | €487,880 | €412,880 | -€75,000 | -15.4% |
| Accrued charges and deferred income | 492/3 | €8,863 | €535 | -€8,328 | -94.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €136,896 | €139,882 | +€2,986 | +2.2% |
| Other operating charges | 640/8 | €500 | €234 | -€266 | -53.1% |
| Gross operating margin | 9900 | €198,780 | €150,102 | -€48,679 | -24.5% |
| Operating profit (loss) | 9901 | €61,384 | €9,985 | -€51,399 | -83.7% |
| Financial income | 75/76B | €4,898 | €0 | -€4,898 | -100% |
| Recurring financial income | 75 | €4,898 | €0 | -€4,898 | -100% |
| Financial charges | 65/66B | €15,632 | €13,165 | -€2,467 | -15.8% |
| Recurring financial charges | 65 | €15,632 | €13,165 | -€2,467 | -15.8% |
| Profit (loss) for the period before taxes | 9903 | €50,649 | -€3,180 | -€53,829 | |
| Income taxes | 67/77 | €13,327 | €285 | -€13,042 | -97.9% |
| Profit (loss) for the period | 9904 | €37,322 | -€3,465 | -€40,787 | |
| Profit (loss) for the period to be appropriated | 9905 | €37,322 | -€3,465 | -€40,787 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.