Jens Bertouille: 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.
What changed
Jens Bertouille
NACE 10.711, Manufacture of food products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€58,322
2024 · €112,502-€54,180
Equity
€486,720
2024 · €478,398+€8,322
Cash
€13,261
2024 · €4,669+€8,592
Balance sheet total
€1.3m
2024 · €1.3m+€38,136
Largest movements
Assets
- Receivables within one year +€38,445
up €38,445 (+3.5%), from €1.1m to €1.1m
of which Other amounts receivable: +€48,245
Equity and liabilities
- Trade debts +€58,851
up €58,851 (+9.3%), from €630,035 to €688,886
- Profit (loss) carried forward +€58,322
up €58,322 (+14.1%), from €414,038 to €472,360
- Reserves -€50,000
down €50,000 (-96.4%), from €51,860 to €1,860
- Tax, wage and social debts -€48,694
down €48,694 (-45.6%), from €106,712 to €58,018
of which Taxes: -€44,919
- Other debts +€30,261
up €30,261 (+153%), from €19,739 to €50,000
Income statement
- Gross operating margin -€144,844
down €144,844 (-63.4%), from €228,420 to €83,576
- Taxes -€55,282
down €55,282, from €43,000 to -€12,282
- Staff costs -€27,600
down €27,600 (-91.9%), from €30,030 to €2,429
- Financial charges -€6,166
down €6,166 (-79.4%), from €7,763 to €1,597
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.
Result 2024
€112,502
Gross operating margin
-€144,844
Staff costs
+€27,600
Depreciation
-€1,434
Other operating charges
+€2,116
Other operating items
+€950
Financial income
-€16
Financial charges
+€6,166
Taxes
+€55,282
Result 2025
€58,322
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€93,037
Investment
-€23,951
Financing
-€60,493
Cash 2024
€4,669
From operations (derived)
+€93,037
Net result for the year
+€58,322
Depreciation
+€32,072
Receivables within one year
-€38,445
Deferred charges and accrued income
+€781
Trade debts
+€58,851
Tax, wage and social debts
-€48,694
Other debts
+€30,261
Accrued charges and deferred income
-€111
Investment (derived)
-€23,951
Investment in fixed assets (net)
-€23,951
Financing
-€60,493
Debts after one year
-€4,324
Current portion of long-term debt
-€7,808
Short-term financial debts
+€1,638
Contributions, distributions and other
-€50,000
Cash 2025
€13,261
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,255,930 | €1,294,065 | +€38,136 | +3.0% |
| Fixed assets | 21/28 | €145,599 | €137,478 | -€8,121 | -5.6% |
| Tangible fixed assets | 22/27 | €144,849 | €136,728 | -€8,121 | -5.6% |
| Land and buildings | 22 | €3,797 | €3,677 | -€120 | -3.2% |
| Plant, machinery and equipment | 23 | €121,523 | €115,544 | -€5,979 | -4.9% |
| Furniture and vehicles | 24 | €1,973 | €2,501 | +€528 | +26.8% |
| Leasing and similar rights | 25 | €17,557 | €15,007 | -€2,550 | -14.5% |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €1,110,331 | €1,156,587 | +€46,256 | +4.2% |
| Amounts receivable within one year | 40/41 | €1,104,116 | €1,142,561 | +€38,445 | +3.5% |
| Trade receivables | 40 | €130,784 | €120,985 | -€9,799 | -7.5% |
| Other amounts receivable | 41 | €973,332 | €1,021,577 | +€48,245 | +5.0% |
| Cash at bank and in hand | 54/58 | €4,669 | €13,261 | +€8,592 | +184% |
| Deferred charges and accrued income | 490/1 | €1,546 | €764 | -€781 | -50.5% |
| Total equity and liabilities | 10/49 | €1,255,930 | €1,294,065 | +€38,136 | +3.0% |
| Equity | 10/15 | €478,398 | €486,720 | +€8,322 | +1.7% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Contributions outside capital | 11 | €12,500 | €12,500 | = | 0.0% |
| Other | 1109/19 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €51,860 | €1,860 | -€50,000 | -96.4% |
| Distributable reserves | 133 | €51,860 | €1,860 | -€50,000 | -96.4% |
| Profit (loss) carried forward | 14 | €414,038 | €472,360 | +€58,322 | +14.1% |
| Amounts payable | 17/49 | €777,532 | €807,345 | +€29,813 | +3.8% |
| Amounts payable after more than one year | 17 | €6,627 | €2,303 | -€4,324 | -65.2% |
| Financial debts | 170/4 | €6,627 | €2,303 | -€4,324 | -65.2% |
| Amounts payable within one year | 42/48 | €770,622 | €804,870 | +€34,248 | +4.4% |
| Current portion of amounts payable after more than one year | 42 | €12,131 | €4,324 | -€7,808 | -64.4% |
| Financial debts | 43 | €2,005 | €3,643 | +€1,638 | +81.7% |
| Credit institutions | 430/8 | €2,005 | €3,643 | +€1,638 | +81.7% |
| Trade debts | 44 | €630,035 | €688,886 | +€58,851 | +9.3% |
| Suppliers | 440/4 | €630,035 | €688,886 | +€58,851 | +9.3% |
| Taxes, remuneration and social security | 45 | €106,712 | €58,018 | -€48,694 | -45.6% |
| Taxes | 450/3 | €102,764 | €57,845 | -€44,919 | -43.7% |
| Remuneration and social security | 454/9 | €3,948 | €173 | -€3,775 | -95.6% |
| Other amounts payable | 47/48 | €19,739 | €50,000 | +€30,261 | +153% |
| Accrued charges and deferred income | 492/3 | €284 | €173 | -€111 | -39.0% |
| Non-recurring operating income | 76A | €4,626 | - | -€4,626 | |
| Remuneration, social security and pensions | 62 | €30,030 | €2,429 | -€27,600 | -91.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,638 | €32,072 | +€1,434 | +4.7% |
| Other operating charges | 640/8 | €3,572 | €1,456 | -€2,116 | -59.2% |
| Non-recurring operating charges | 66A | €950 | - | -€950 | |
| Gross operating margin | 9900 | €228,420 | €83,576 | -€144,844 | -63.4% |
| Operating profit (loss) | 9901 | €163,231 | €47,618 | -€115,612 | -70.8% |
| Financial income | 75/76B | €35 | €19 | -€16 | -44.5% |
| Recurring financial income | 75 | €35 | €19 | -€16 | -44.5% |
| Financial charges | 65/66B | €7,763 | €1,597 | -€6,166 | -79.4% |
| Recurring financial charges | 65 | €7,763 | €1,597 | -€6,166 | -79.4% |
| Profit (loss) for the period before taxes | 9903 | €155,502 | €46,041 | -€109,462 | -70.4% |
| Income taxes | 67/77 | €43,000 | -€12,282 | -€55,282 | |
| Profit (loss) for the period | 9904 | €112,502 | €58,322 | -€54,180 | -48.2% |
| Profit (loss) for the period to be appropriated | 9905 | €112,502 | €58,322 | -€54,180 | -48.2% |
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 31 October 2026 via checked.be.