CYL BERGHMAN: 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.
CYL BERGHMAN
Largest movements
- Current investments +€195,000
new in 2025: €195,000
- Receivables within one year -€29,495
down €29,495 (-53.3%), from €55,328 to €25,833
of which Trade receivables: -€27,599
- Tangible fixed assets -€18,923
down €18,923 (-15.7%), from €120,259 to €101,335
of which Land and buildings: -€10,828
- Cash +€7,854
up €7,854 (+6.4%), from €123,204 to €131,058
mainly Other debts (+€122,585) and Net result for the year (+€103,498)
- Other debts +€122,585
up €122,585 (+152%), from €80,393 to €202,979
- Reserves +€60,414
up €60,414 (+103%), from €58,626 to €119,040
of which Tax-exempt reserves: +€60,414
- Trade debts -€27,218
down €27,218 (-83.9%), from €32,443 to €5,225
- Gross operating margin +€66,775
up €66,775 (+60.5%), from €110,383 to €177,159
- Taxes +€15,277
up €15,277 (+102%), from €14,944 to €30,220
- Financial charges +€5,463
up €5,463 (+59.2%), from €9,229 to €14,692
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 | €312,472 | €467,820 | +€155,348 | +49.7% |
| Fixed assets | 21/28 | €130,759 | €107,635 | -€23,123 | -17.7% |
| Intangible fixed assets | 21 | €10,500 | €6,300 | -€4,200 | -40.0% |
| Tangible fixed assets | 22/27 | €120,259 | €101,335 | -€18,923 | -15.7% |
| Land and buildings | 22 | €90,834 | €80,006 | -€10,828 | -11.9% |
| Plant, machinery and equipment | 23 | €13,707 | €13,276 | -€431 | -3.1% |
| Furniture and vehicles | 24 | €15,718 | €8,053 | -€7,664 | -48.8% |
| Current assets | 29/58 | €181,713 | €360,185 | +€178,472 | +98.2% |
| Stocks and contracts in progress | 3 | €1,025 | €4,775 | +€3,750 | +366% |
| Stocks | 30/36 | €1,025 | €4,775 | +€3,750 | +366% |
| Amounts receivable within one year | 40/41 | €55,328 | €25,833 | -€29,495 | -53.3% |
| Trade receivables | 40 | €49,271 | €21,673 | -€27,599 | -56.0% |
| Other amounts receivable | 41 | €6,056 | €4,160 | -€1,896 | -31.3% |
| Current investments | 50/53 | - | €195,000 | +€195,000 | |
| Cash at bank and in hand | 54/58 | €123,204 | €131,058 | +€7,854 | +6.4% |
| Deferred charges and accrued income | 490/1 | €2,157 | €3,519 | +€1,362 | +63.2% |
| Total equity and liabilities | 10/49 | €312,472 | €467,820 | +€155,348 | +49.7% |
| Equity | 10/15 | €71,026 | €131,440 | +€60,414 | +85.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €58,626 | €119,040 | +€60,414 | +103% |
| Tax-exempt reserves | 132 | €282 | €60,695 | +€60,414 | +21,456% |
| Distributable reserves | 133 | €58,345 | €58,345 | = | 0.0% |
| Amounts payable | 17/49 | €241,446 | €336,381 | +€94,935 | +39.3% |
| Amounts payable after more than one year | 17 | €85,060 | €85,060 | = | 0.0% |
| Financial debts | 170/4 | €85,060 | €85,060 | = | 0.0% |
| Amounts payable within one year | 42/48 | €144,604 | €236,425 | +€91,821 | +63.5% |
| Trade debts | 44 | €32,443 | €5,225 | -€27,218 | -83.9% |
| Suppliers | 440/4 | €32,443 | €5,225 | -€27,218 | -83.9% |
| Taxes, remuneration and social security | 45 | €31,768 | €28,221 | -€3,546 | -11.2% |
| Taxes | 450/3 | €31,768 | €28,221 | -€3,546 | -11.2% |
| Other amounts payable | 47/48 | €80,393 | €202,979 | +€122,585 | +152% |
| Accrued charges and deferred income | 492/3 | €11,782 | €14,895 | +€3,114 | +26.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,934 | €29,758 | -€1,176 | -3.8% |
| Other operating charges | 640/8 | €1,103 | €1,267 | +€164 | +14.8% |
| Non-recurring operating charges | 66A | - | €225 | +€225 | |
| Gross operating margin | 9900 | €110,383 | €177,159 | +€66,775 | +60.5% |
| Operating profit (loss) | 9901 | €78,347 | €145,909 | +€67,562 | +86.2% |
| Financial income | 75/76B | €4,171 | €2,501 | -€1,670 | -40.0% |
| Recurring financial income | 75 | €4,171 | €2,501 | -€1,670 | -40.0% |
| Financial charges | 65/66B | €9,229 | €14,692 | +€5,463 | +59.2% |
| Recurring financial charges | 65 | €9,229 | €14,692 | +€5,463 | +59.2% |
| Profit (loss) for the period before taxes | 9903 | €73,288 | €133,718 | +€60,430 | +82.5% |
| Income taxes | 67/77 | €14,944 | €30,220 | +€15,277 | +102% |
| Profit (loss) for the period | 9904 | €58,345 | €103,498 | +€45,153 | +77.4% |
| Transfer to tax-exempt reserves | 689 | - | €60,414 | +€60,414 | |
| Profit (loss) for the period to be appropriated | 9905 | €58,345 | €43,084 | -€15,261 | -26.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.