Kobe 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.
Kobe Bertels
Largest movements
- Cash -€55,117
down €55,117 (-78.7%), from €70,076 to €14,960
mainly Contributions, distributions and other (-€40,000) and Net result for the year (-€12,938)
- Tangible fixed assets -€10,364
down €10,364 (-22.7%), from €45,630 to €35,266
of which Furniture and vehicles: -€11,204
- Receivables within one year -€9,653
down €9,653 (-36.5%), from €26,442 to €16,789
of which Trade receivables: -€17,684
- Reserves -€52,938
down €52,938 (-64.6%), from €81,998 to €29,059
- Tax, wage and social debts -€12,301
down €12,301 (-94.7%), from €12,991 to €690
of which Taxes: -€12,165
- Debts after one year -€10,250
down €10,250 (-35.2%), from €29,089 to €18,839
- Current portion of long-term debt -€2,141
down €2,141 (-17.3%), from €12,392 to €10,250
- Trade debts +€1,581
up €1,581 (+286.1%), from €553 to €2,134
- Gross operating margin -€40,363
down €40,363 (-94.4%), from €42,749 to €2,386
- Taxes -€6,628
down €6,628 (-94.9%), from €6,985 to €358
- Depreciation +€1,383
up €1,383 (+12.8%), from €10,796 to €12,179
- Financial charges +€844
up €844 (+133.7%), from €632 to €1,476
- Other operating charges +€545
up €545 (+71.0%), from €767 to €1,312
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 | €144,199 | €69,233 | -€74,966 | -52.0% |
| Fixed assets | 21/28 | €45,630 | €35,266 | -€10,364 | -22.7% |
| Tangible fixed assets | 22/27 | €45,630 | €35,266 | -€10,364 | -22.7% |
| Plant, machinery and equipment | 23 | - | €840 | +€840 | |
| Furniture and vehicles | 24 | €45,630 | €34,426 | -€11,204 | -24.6% |
| Current assets | 29/58 | €98,569 | €33,967 | -€64,602 | -65.5% |
| Amounts receivable within one year | 40/41 | €26,442 | €16,789 | -€9,653 | -36.5% |
| Trade receivables | 40 | €26,413 | €8,729 | -€17,684 | -67.0% |
| Other amounts receivable | 41 | €29 | €8,060 | +€8,031 | +27559.6% |
| Cash at bank and in hand | 54/58 | €70,076 | €14,960 | -€55,117 | -78.7% |
| Deferred charges and accrued income | 490/1 | €2,051 | €2,219 | +€168 | +8.2% |
| Total equity and liabilities | 10/49 | €144,199 | €69,233 | -€74,966 | -52.0% |
| Equity | 10/15 | €86,998 | €34,059 | -€52,938 | -60.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €81,998 | €29,059 | -€52,938 | -64.6% |
| Distributable reserves | 133 | €81,998 | €29,059 | -€52,938 | -64.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €57,201 | €35,173 | -€22,028 | -38.5% |
| Amounts payable after more than one year | 17 | €29,089 | €18,839 | -€10,250 | -35.2% |
| Financial debts | 170/4 | €29,089 | €18,839 | -€10,250 | -35.2% |
| Amounts payable within one year | 42/48 | €28,112 | €16,335 | -€11,778 | -41.9% |
| Current portion of amounts payable after more than one year | 42 | €12,392 | €10,250 | -€2,141 | -17.3% |
| Financial debts | 43 | €12 | €2 | -€10 | -83.4% |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | €12 | €2 | -€10 | -83.4% |
| Trade debts | 44 | €553 | €2,134 | +€1,581 | +286.1% |
| Suppliers | 440/4 | €553 | €2,134 | +€1,581 | +286.1% |
| Taxes, remuneration and social security | 45 | €12,991 | €690 | -€12,301 | -94.7% |
| Taxes | 450/3 | €12,855 | €690 | -€12,165 | -94.6% |
| Remuneration and social security | 454/9 | €136 | €0 | -€136 | -100.0% |
| Other amounts payable | 47/48 | €2,165 | €3,258 | +€1,093 | +50.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,796 | €12,179 | +€1,383 | +12.8% |
| Other operating charges | 640/8 | €767 | €1,312 | +€545 | +71.0% |
| Gross operating margin | 9900 | €42,749 | €2,386 | -€40,363 | -94.4% |
| Operating profit (loss) | 9901 | €31,187 | -€11,105 | -€42,291 | |
| Financial income | 75/76B | €39 | €0 | -€39 | -100.0% |
| Recurring financial income | 75 | €39 | €0 | -€39 | -100.0% |
| Financial charges | 65/66B | €632 | €1,476 | +€844 | +133.7% |
| Recurring financial charges | 65 | €632 | €1,476 | +€844 | +133.7% |
| Profit (loss) for the period before taxes | 9903 | €30,593 | -€12,581 | -€43,174 | |
| Income taxes | 67/77 | €6,985 | €358 | -€6,628 | -94.9% |
| Profit (loss) for the period | 9904 | €23,608 | -€12,938 | -€36,547 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,608 | -€12,938 | -€36,547 |
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 10 October 2026 via checked.be.