ETS BERLIER: what changed
Two fiscal 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.
ETS BERLIER
Largest movements
- Stocks and contracts -€6,026
down €6,026 (-7.6%), from €79,425 to €73,399
- Tangible fixed assets +€4,792
up €4,792 (+119.7%), from €4,004 to €8,797
of which Plant, machinery and equipment: +€4,653
- Cash -€4,333
down €4,333 (-4.9%), from €88,458 to €84,124
mainly Other debts (-€21,979) and Investment in fixed assets (net) (-€5,200)
- Formation expenses -€2,645
no longer reported in 2025 (was €2,645)
- Other debts -€21,979
down €21,979 (-99.9%), from €22,004 to €26
- Trade debts +€7,081
up €7,081 (+119.7%), from €5,915 to €12,996
- Profit (loss) carried forward +€4,162
up €4,162 (+6.1%), from €67,889 to €72,051
- Tax, wage and social debts +€3,510
up €3,510 (+20.3%), from €17,289 to €20,799
of which Taxes: +€1,888
- Gross operating margin -€8,506
down €8,506 (-7.7%), from €109,951 to €101,445
- Other operating charges +€5,059
up €5,059 (+137.5%), from €3,680 to €8,739
- Staff costs +€4,104
up €4,104 (+5.6%), from €73,942 to €78,046
- Financial income -€3,888
down €3,888 (-100.0%), from €3,889 to €0
of which Non-recurring financial income: -€3,888
- Write-downs +€2,266
up €2,266 (+67.2%), from €3,374 to €5,640
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 | €205,615 | €197,089 | -€8,526 | -4.1% |
| Formation expenses | 20 | €2,645 | - | -€2,645 | |
| Fixed assets | 21/28 | €4,304 | €8,797 | +€4,492 | +104.4% |
| Tangible fixed assets | 22/27 | €4,004 | €8,797 | +€4,792 | +119.7% |
| Plant, machinery and equipment | 23 | €1,803 | €6,455 | +€4,653 | +258.1% |
| Furniture and vehicles | 24 | €2,202 | €2,342 | +€140 | +6.3% |
| Financial fixed assets | 28 | €300 | - | -€300 | |
| Current assets | 29/58 | €198,665 | €188,292 | -€10,372 | -5.2% |
| Stocks and contracts in progress | 3 | €79,425 | €73,399 | -€6,026 | -7.6% |
| Stocks | 30/36 | €79,425 | €73,399 | -€6,026 | -7.6% |
| Amounts receivable within one year | 40/41 | €24,118 | €26,115 | +€1,997 | +8.3% |
| Trade receivables | 40 | €10,484 | €14,721 | +€4,238 | +40.4% |
| Other amounts receivable | 41 | €13,634 | €11,394 | -€2,240 | -16.4% |
| Cash at bank and in hand | 54/58 | €88,458 | €84,124 | -€4,333 | -4.9% |
| Deferred charges and accrued income | 490/1 | €6,664 | €4,654 | -€2,011 | -30.2% |
| Total equity and liabilities | 10/49 | €205,615 | €197,089 | -€8,526 | -4.1% |
| Equity | 10/15 | €159,107 | €163,269 | +€4,162 | +2.6% |
| Contributions | 10/11 | €37,184 | €37,184 | = | 0.0% |
| Capital | 10 | €37,184 | €37,184 | = | 0.0% |
| Issued capital | 100 | €37,184 | €37,184 | = | 0.0% |
| Reserves | 13 | €54,034 | €54,034 | = | 0.0% |
| Non-distributable reserves | 130/1 | €29,034 | €29,034 | = | 0.0% |
| Legal reserve | 130 | €3,718 | €3,718 | = | 0.0% |
| Reserves not available under the articles | 1311 | €25,316 | €25,316 | = | 0.0% |
| Distributable reserves | 133 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €67,889 | €72,051 | +€4,162 | +6.1% |
| Amounts payable | 17/49 | €46,507 | €33,820 | -€12,688 | -27.3% |
| Amounts payable within one year | 42/48 | €45,207 | €33,820 | -€11,388 | -25.2% |
| Trade debts | 44 | €5,915 | €12,996 | +€7,081 | +119.7% |
| Suppliers | 440/4 | €5,915 | €12,996 | +€7,081 | +119.7% |
| Taxes, remuneration and social security | 45 | €17,289 | €20,799 | +€3,510 | +20.3% |
| Taxes | 450/3 | €10,070 | €11,958 | +€1,888 | +18.7% |
| Remuneration and social security | 454/9 | €7,219 | €8,841 | +€1,622 | +22.5% |
| Other amounts payable | 47/48 | €22,004 | €26 | -€21,979 | -99.9% |
| Accrued charges and deferred income | 492/3 | €1,300 | - | -€1,300 | |
| Remuneration, social security and pensions | 62 | €73,942 | €78,046 | +€4,104 | +5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,096 | €3,353 | +€257 | +8.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,374 | €5,640 | +€2,266 | +67.2% |
| Other operating charges | 640/8 | €3,680 | €8,739 | +€5,059 | +137.5% |
| Gross operating margin | 9900 | €109,951 | €101,445 | -€8,506 | -7.7% |
| Operating profit (loss) | 9901 | €25,859 | €5,667 | -€20,192 | -78.1% |
| Financial income | 75/76B | €3,889 | €0 | -€3,888 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -34.8% |
| Non-recurring financial income | 76B | €3,888 | - | -€3,888 | |
| Financial charges | 65/66B | €245 | €334 | +€88 | +36.0% |
| Recurring financial charges | 65 | €245 | €334 | +€88 | +36.0% |
| Profit (loss) for the period before taxes | 9903 | €29,502 | €5,333 | -€24,169 | -81.9% |
| Income taxes | 67/77 | €3,370 | €1,171 | -€2,199 | -65.3% |
| Profit (loss) for the period | 9904 | €26,132 | €4,162 | -€21,970 | -84.1% |
| Profit (loss) for the period to be appropriated | 9905 | €26,132 | €4,162 | -€21,970 | -84.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.