Dr. K. Berghmans: 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.
Dr. K. Berghmans
Largest movements
- Cash +€205,659
up €205,659 (+43.0%), from €478,329 to €683,988
mainly Net result for the year (+€167,405) and Tax, wage and social debts (+€52,700)
- Receivables within one year +€19,668
new in 2025: €19,668
- Reserves +€165,000
up €165,000 (+25.1%), from €657,481 to €822,481
- Tax, wage and social debts +€52,700
up €52,700 (+221%), from €23,800 to €76,500
- Gross operating margin -€9,545
down €9,545 (-3.7%), from €256,112 to €246,566
- Financial income -€5,548
down €5,548 (-53.9%), from €10,297 to €4,749
- Taxes -€3,266
down €3,266 (-4.1%), from €79,689 to €76,423
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 | €744,040 | €969,997 | +€225,957 | +30.4% |
| Fixed assets | 21/28 | €30,026 | €28,304 | -€1,722 | -5.7% |
| Tangible fixed assets | 22/27 | €30,026 | €27,804 | -€2,222 | -7.4% |
| Plant, machinery and equipment | 23 | €2,088 | €4,609 | +€2,521 | +121% |
| Furniture and vehicles | 24 | €14,793 | €11,521 | -€3,271 | -22.1% |
| Other tangible fixed assets | 26 | €13,145 | €11,673 | -€1,472 | -11.2% |
| Financial fixed assets | 28 | - | €500 | +€500 | |
| Current assets | 29/58 | €714,014 | €941,693 | +€227,679 | +31.9% |
| Amounts receivable within one year | 40/41 | - | €19,668 | +€19,668 | |
| Trade receivables | 40 | - | €19,668 | +€19,668 | |
| Current investments | 50/53 | €235,685 | €235,685 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €478,329 | €683,988 | +€205,659 | +43.0% |
| Deferred charges and accrued income | 490/1 | - | €2,352 | +€2,352 | |
| Total equity and liabilities | 10/49 | €744,040 | €969,997 | +€225,957 | +30.4% |
| Equity | 10/15 | €673,386 | €840,792 | +€167,405 | +24.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €657,481 | €822,481 | +€165,000 | +25.1% |
| Distributable reserves | 133 | €657,481 | €822,481 | +€165,000 | +25.1% |
| Profit (loss) carried forward | 14 | €3,506 | €5,911 | +€2,405 | +68.6% |
| Amounts payable | 17/49 | €70,653 | €129,205 | +€58,551 | +82.9% |
| Amounts payable within one year | 42/48 | €70,653 | €129,205 | +€58,551 | +82.9% |
| Trade debts | 44 | €2,133 | €308 | -€1,826 | -85.6% |
| Suppliers | 440/4 | €2,133 | €308 | -€1,826 | -85.6% |
| Taxes, remuneration and social security | 45 | €23,800 | €76,500 | +€52,700 | +221% |
| Taxes | 450/3 | €23,800 | €76,500 | +€52,700 | +221% |
| Other amounts payable | 47/48 | €44,720 | €52,397 | +€7,677 | +17.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,654 | €5,827 | +€174 | +3.1% |
| Other operating charges | 640/8 | €867 | €1,535 | +€668 | +77.0% |
| Gross operating margin | 9900 | €256,112 | €246,566 | -€9,545 | -3.7% |
| Operating profit (loss) | 9901 | €249,591 | €239,204 | -€10,387 | -4.2% |
| Financial income | 75/76B | €10,297 | €4,749 | -€5,548 | -53.9% |
| Recurring financial income | 75 | €10,297 | €4,749 | -€5,548 | -53.9% |
| Financial charges | 65/66B | €130 | €125 | -€5 | -3.7% |
| Recurring financial charges | 65 | €130 | €125 | -€5 | -3.7% |
| Profit (loss) for the period before taxes | 9903 | €259,758 | €243,828 | -€15,929 | -6.1% |
| Income taxes | 67/77 | €79,689 | €76,423 | -€3,266 | -4.1% |
| Profit (loss) for the period | 9904 | €180,069 | €167,405 | -€12,664 | -7.0% |
| Profit (loss) for the period to be appropriated | 9905 | €180,069 | €167,405 | -€12,664 | -7.0% |
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 1 November 2026 via checked.be.