CATHY BERNARD MANAGEMENT: 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.
CATHY BERNARD MANAGEMENT
Largest movements
- Financial fixed assets +€89,166
up €89,166 (+3.1%), from €2.9m to €3.0m
- Cash -€75,068
down €75,068 (-71.3%), from €105,300 to €30,232
mainly Debts after one year (-€180,457) and Investment in fixed assets (net) (-€89,655)
- Debts after one year -€180,457
down €180,457 (-10.1%), from €1.8m to €1.6m
- Profit (loss) carried forward +€172,001
up €172,001 (+25.2%), from €683,113 to €855,113
- Gross operating margin +€110,399
up €110,399 (+55.5%), from €198,832 to €309,231
- Financial charges +€38,599
up €38,599 (+88.5%), from €43,605 to €82,204
- Taxes +€17,742
up €17,742 (+51.5%), from €34,474 to €52,216
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 | €3,015,671 | €3,032,360 | +€16,689 | +0.6% |
| Fixed assets | 21/28 | €2,903,571 | €2,992,708 | +€89,137 | +3.1% |
| Tangible fixed assets | 22/27 | €1,728 | €1,699 | -€29 | -1.7% |
| Plant, machinery and equipment | 23 | €1,728 | €1,263 | -€466 | -26.9% |
| Furniture and vehicles | 24 | - | €437 | +€437 | |
| Financial fixed assets | 28 | €2,901,843 | €2,991,009 | +€89,166 | +3.1% |
| Current assets | 29/58 | €112,100 | €39,652 | -€72,449 | -64.6% |
| Amounts receivable within one year | 40/41 | €6,585 | €9,091 | +€2,506 | +38.1% |
| Trade receivables | 40 | €373 | €2,568 | +€2,195 | +588% |
| Other amounts receivable | 41 | €6,211 | €6,523 | +€312 | +5.0% |
| Cash at bank and in hand | 54/58 | €105,300 | €30,232 | -€75,068 | -71.3% |
| Deferred charges and accrued income | 490/1 | €216 | €329 | +€113 | +52.3% |
| Total equity and liabilities | 10/49 | €3,015,671 | €3,032,360 | +€16,689 | +0.6% |
| Equity | 10/15 | €687,113 | €859,113 | +€172,001 | +25.0% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €683,113 | €855,113 | +€172,001 | +25.2% |
| Amounts payable | 17/49 | €2,328,558 | €2,173,246 | -€155,312 | -6.7% |
| Amounts payable after more than one year | 17 | €1,782,023 | €1,601,566 | -€180,457 | -10.1% |
| Financial debts | 170/4 | €1,782,023 | €1,601,566 | -€180,457 | -10.1% |
| Amounts payable within one year | 42/48 | €503,145 | €530,721 | +€27,576 | +5.5% |
| Current portion of amounts payable after more than one year | 42 | €175,043 | €190,598 | +€15,555 | +8.9% |
| Trade debts | 44 | €5,597 | €4,321 | -€1,277 | -22.8% |
| Suppliers | 440/4 | €5,597 | €4,321 | -€1,277 | -22.8% |
| Taxes, remuneration and social security | 45 | €14,366 | €24,758 | +€10,392 | +72.3% |
| Taxes | 450/3 | €14,366 | €24,758 | +€10,392 | +72.3% |
| Other amounts payable | 47/48 | €308,138 | €311,043 | +€2,905 | +0.9% |
| Accrued charges and deferred income | 492/3 | €43,391 | €40,960 | -€2,431 | -5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €466 | €518 | +€52 | +11.2% |
| Other operating charges | 640/8 | €593 | €1,470 | +€877 | +148% |
| Gross operating margin | 9900 | €198,832 | €309,231 | +€110,399 | +55.5% |
| Operating profit (loss) | 9901 | €197,774 | €307,243 | +€109,470 | +55.4% |
| Financial income | 75/76B | - | €10 | +€10 | |
| Recurring financial income | 75 | - | €10 | +€10 | |
| Financial charges | 65/66B | €43,605 | €82,204 | +€38,599 | +88.5% |
| Recurring financial charges | 65 | €43,605 | €82,204 | +€38,599 | +88.5% |
| Profit (loss) for the period before taxes | 9903 | €154,169 | €225,049 | +€70,881 | +46.0% |
| Income taxes | 67/77 | €34,474 | €52,216 | +€17,742 | +51.5% |
| Profit (loss) for the period | 9904 | €119,695 | €172,834 | +€53,139 | +44.4% |
| Profit (loss) for the period to be appropriated | 9905 | €119,695 | €172,834 | +€53,139 | +44.4% |
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 18 October 2026 via checked.be.