Handelsonderneming Bertels: 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.
Handelsonderneming Bertels
Largest movements
- Receivables within one year +€414,958
up €414,958 (+36.4%), from €1.1m to €1.6m
of which Other amounts receivable: +€245,534
- Tangible fixed assets -€57,833
down €57,833 (-8.3%), from €697,450 to €639,618
of which Plant, machinery and equipment: -€33,547
- Stocks and contracts -€45,684
down €45,684 (-31.8%), from €143,858 to €98,174
- Reserves +€296,593
up €296,593 (+16.8%), from €1.8m to €2.1m
of which Distributable reserves: +€296,593
- Current portion of long-term debt +€128,343
up €128,343 (+484%), from €26,492 to €154,834
- Trade debts -€72,312
down €72,312 (-53.4%), from €135,336 to €63,024
- Financial charges -€196,434
down €196,434 (-95.6%), from €205,442 to €9,008
of which Non-recurring financial charges: -€194,268
- Gross operating margin +€118,539
up €118,539 (+21.6%), from €548,323 to €666,862
- Financial income -€60,302
down €60,302 (-41.8%), from €144,311 to €84,009
of which Financial income: -€60,222
- Taxes +€20,006
up €20,006 (+344%), from €5,813 to €25,819
- Staff costs +€8,010
up €8,010 (+2.8%), from €289,687 to €297,697
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 | €2,647,217 | €2,946,669 | +€299,452 | +11.3% |
| Fixed assets | 21/28 | €699,450 | €641,618 | -€57,833 | -8.3% |
| Tangible fixed assets | 22/27 | €697,450 | €639,618 | -€57,833 | -8.3% |
| Land and buildings | 22 | €541,445 | €529,566 | -€11,879 | -2.2% |
| Plant, machinery and equipment | 23 | €116,980 | €83,433 | -€33,547 | -28.7% |
| Furniture and vehicles | 24 | €39,025 | €26,619 | -€12,407 | -31.8% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €1,947,767 | €2,305,051 | +€357,284 | +18.3% |
| Stocks and contracts in progress | 3 | €143,858 | €98,174 | -€45,684 | -31.8% |
| Stocks | 30/36 | €143,858 | €98,174 | -€45,684 | -31.8% |
| Amounts receivable within one year | 40/41 | €1,141,201 | €1,556,159 | +€414,958 | +36.4% |
| Trade receivables | 40 | €624,413 | €793,837 | +€169,424 | +27.1% |
| Other amounts receivable | 41 | €516,788 | €762,321 | +€245,534 | +47.5% |
| Cash at bank and in hand | 54/58 | €639,197 | €622,852 | -€16,345 | -2.6% |
| Deferred charges and accrued income | 490/1 | €23,511 | €27,867 | +€4,356 | +18.5% |
| Total equity and liabilities | 10/49 | €2,647,217 | €2,946,669 | +€299,452 | +11.3% |
| Equity | 10/15 | €2,278,089 | €2,574,682 | +€296,593 | +13.0% |
| Contributions | 10/11 | €512,000 | €512,000 | = | 0.0% |
| Capital | 10 | €512,000 | €512,000 | = | 0.0% |
| Issued capital | 100 | €512,000 | €512,000 | = | 0.0% |
| Reserves | 13 | €1,766,089 | €2,062,682 | +€296,593 | +16.8% |
| Non-distributable reserves | 130/1 | €6,202 | €6,202 | = | 0.0% |
| Legal reserve | 130 | €6,202 | €6,202 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €1,741,137 | €2,037,730 | +€296,593 | +17.0% |
| Amounts payable | 17/49 | €369,128 | €371,987 | +€2,859 | +0.8% |
| Amounts payable within one year | 42/48 | €353,646 | €358,535 | +€4,889 | +1.4% |
| Current portion of amounts payable after more than one year | 42 | €26,492 | €154,834 | +€128,343 | +484% |
| Trade debts | 44 | €135,336 | €63,024 | -€72,312 | -53.4% |
| Suppliers | 440/4 | €135,336 | €63,024 | -€72,312 | -53.4% |
| Advances received on contracts in progress | 46 | €25,801 | €3,957 | -€21,843 | -84.7% |
| Taxes, remuneration and social security | 45 | €84,287 | €70,851 | -€13,437 | -15.9% |
| Taxes | 450/3 | €42,768 | €30,079 | -€12,690 | -29.7% |
| Remuneration and social security | 454/9 | €41,519 | €40,772 | -€747 | -1.8% |
| Other amounts payable | 47/48 | €81,730 | €65,868 | -€15,862 | -19.4% |
| Accrued charges and deferred income | 492/3 | €15,483 | €13,452 | -€2,030 | -13.1% |
| Non-recurring operating income | 76A | €2,000 | - | -€2,000 | |
| Remuneration, social security and pensions | 62 | €289,687 | €297,697 | +€8,010 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,324 | €88,111 | +€786 | +0.9% |
| Other operating charges | 640/8 | €32,453 | €33,642 | +€1,189 | +3.7% |
| Gross operating margin | 9900 | €548,323 | €666,862 | +€118,539 | +21.6% |
| Operating profit (loss) | 9901 | €138,858 | €247,411 | +€108,553 | +78.2% |
| Financial income | 75/76B | €144,311 | €84,009 | -€60,302 | -41.8% |
| Recurring financial income | 75 | €144,231 | €84,009 | -€60,222 | -41.8% |
| Non-recurring financial income | 76B | €80 | - | -€80 | |
| Financial charges | 65/66B | €205,442 | €9,008 | -€196,434 | -95.6% |
| Recurring financial charges | 65 | €11,174 | €9,008 | -€2,165 | -19.4% |
| Non-recurring financial charges | 66B | €194,268 | - | -€194,268 | |
| Profit (loss) for the period before taxes | 9903 | €77,727 | €322,412 | +€244,685 | +315% |
| Income taxes | 67/77 | €5,813 | €25,819 | +€20,006 | +344% |
| Profit (loss) for the period | 9904 | €71,914 | €296,593 | +€224,679 | +312% |
| Profit (loss) for the period to be appropriated | 9905 | €71,914 | €296,593 | +€224,679 | +312% |
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 14 October 2026 via checked.be.