Hutstuf Bertogne: 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.
Hutstuf Bertogne
Largest movements
- Tangible fixed assets +€1.2m
up €1.2m (+70.4%), from €1.7m to €2.9m
of which Land and buildings: +€989,361
- Debts after one year +€1.2m
up €1.2m (+64.6%), from €1.9m to €3.1m
- Profit (loss) carried forward -€142,705
down €142,705 (-77.5%), from -€184,141 to -€326,845
- Trade debts +€96,622
up €96,622 (+220%), from €43,906 to €140,528
- Accrued charges and deferred income +€35,629
up €35,629 (+177%), from €20,128 to €55,756
- Financial charges +€67,414
up €67,414 (+176%), from €38,271 to €105,685
- Depreciation +€45,226
up €45,226 (+391%), from €11,569 to €56,795
- Gross operating margin +€34,633
up €34,633, from -€12,746 to €21,887
- Other operating charges +€1,504
up €1,504 (+247%), from €608 to €2,112
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 | €1,771,637 | €2,979,087 | +€1.2m | +68.2% |
| Formation expenses | 20 | €416 | €100 | -€316 | -75.9% |
| Fixed assets | 21/28 | €1,676,878 | €2,856,703 | +€1.2m | +70.4% |
| Tangible fixed assets | 22/27 | €1,676,878 | €2,856,703 | +€1.2m | +70.4% |
| Land and buildings | 22 | €616,521 | €1,605,882 | +€989,361 | +160% |
| Plant, machinery and equipment | 23 | - | €49,415 | +€49,415 | |
| Assets under construction and advance payments | 27 | €1,060,357 | €1,201,406 | +€141,049 | +13.3% |
| Current assets | 29/58 | €94,343 | €122,284 | +€27,941 | +29.6% |
| Amounts receivable within one year | 40/41 | €91,902 | €118,289 | +€26,386 | +28.7% |
| Trade receivables | 40 | €867 | €3,047 | +€2,180 | +251% |
| Other amounts receivable | 41 | €91,035 | €115,241 | +€24,206 | +26.6% |
| Cash at bank and in hand | 54/58 | €2,440 | €2,301 | -€139 | -5.7% |
| Deferred charges and accrued income | 490/1 | - | €1,694 | +€1,694 | |
| Total equity and liabilities | 10/49 | €1,771,637 | €2,979,087 | +€1.2m | +68.2% |
| Equity | 10/15 | -€179,141 | -€321,845 | -€142,705 | -79.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€184,141 | -€326,845 | -€142,705 | -77.5% |
| Amounts payable | 17/49 | €1,950,778 | €3,300,932 | +€1.4m | +69.2% |
| Amounts payable after more than one year | 17 | €1,886,744 | €3,104,647 | +€1.2m | +64.6% |
| Financial debts | 170/4 | €1,886,744 | €3,104,647 | +€1.2m | +64.6% |
| Amounts payable within one year | 42/48 | €43,906 | €140,528 | +€96,622 | +220% |
| Trade debts | 44 | €43,906 | €140,528 | +€96,622 | +220% |
| Suppliers | 440/4 | €43,906 | €140,528 | +€96,622 | +220% |
| Accrued charges and deferred income | 492/3 | €20,128 | €55,756 | +€35,629 | +177% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,569 | €56,795 | +€45,226 | +391% |
| Other operating charges | 640/8 | €608 | €2,112 | +€1,504 | +247% |
| Gross operating margin | 9900 | -€12,746 | €21,887 | +€34,633 | |
| Operating profit (loss) | 9901 | -€24,923 | -€37,019 | -€12,096 | -48.5% |
| Financial income | 75/76B | €0 | €0 | -€0 | -98.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -98.0% |
| Financial charges | 65/66B | €38,271 | €105,685 | +€67,414 | +176% |
| Recurring financial charges | 65 | €38,271 | €105,685 | +€67,414 | +176% |
| Profit (loss) for the period before taxes | 9903 | -€63,193 | -€142,705 | -€79,511 | -126% |
| Profit (loss) for the period | 9904 | -€63,193 | -€142,705 | -€79,511 | -126% |
| Profit (loss) for the period to be appropriated | 9905 | -€63,193 | -€142,705 | -€79,511 | -126% |
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 27 October 2026 via checked.be.