LE BERGER: 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
LE BERGER
NACE 55.100, Hotels and similar accommodation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2,001
2024 · €79,299-€77,298
Equity
€1.9m
2024 · €2.0m-€28,392
Cash
€4.7m
2024 · €891,736+€3.8m
Balance sheet total
€12.9m
2024 · €6.0m+€6.9m
Largest movements
Assets
- Cash +€3.8m
up €3.8m (+427%), from €891,736 to €4.7m
mainly Debts after one year (+€10.2m) and Depreciation (+€399,679)
- Financial fixed assets +€1.9m
up €1.9m (+770,082%), from €250 to €1.9m
- Tangible fixed assets +€650,489
up €650,489 (+13.2%), from €4.9m to €5.6m
of which Assets under construction and advance payments: +€973,864
- Formation expenses +€413,842
new in 2025: €413,842
Equity and liabilities
- Debts after one year +€10.2m
up €10.2m, from €0 to €10.2m
- Current portion of long-term debt -€3.4m
down €3.4m (-100%), from €3.4m to €0
- Provisions +€156,904
up €156,904, from €0 to €156,904
of which Provisions for liabilities and charges: +€156,904
Income statement
- Financial charges +€423,513
up €423,513 (+113%), from €373,629 to €797,142
- Financial income +€238,119
up €238,119 (+2,339%), from €10,180 to €248,299
- Provisions +€156,904
new in 2025: €156,904
- Staff costs -€137,529
down €137,529 (-20.8%), from €661,929 to €524,400
- Gross operating margin -€111,812
down €111,812 (-6.1%), from €1.8m to €1.7m
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
€79,299
Gross operating margin
-€111,812
Staff costs
+€137,529
Depreciation
+€61,813
Provisions
-€156,904
Other operating charges
+€82,462
Other operating items
+€11,271
Financial income
+€238,119
Financial charges
-€423,513
Taxes
+€83,737
Result 2025
€2,001
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
+€398,040
Investment
-€3.4m
Financing
+€6.8m
Cash 2024
€891,736
From operations (derived)
+€398,040
Net result for the year
+€2,001
Depreciation
+€399,679
Smaller working-capital items
+€9,211
Receivables within one year
-€96,857
Deferred charges and accrued income
-€32,413
Provisions
+€156,904
Accrued charges and deferred income
-€40,485
Investment (derived)
-€3.4m
Investment in fixed assets (net)
-€3.4m
Financing
+€6.8m
Debts after one year
+€10.2m
Current portion of long-term debt
-€3.4m
Contributions, distributions and other
-€30,393
Cash 2025
€4.7m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,957,533 | €12,896,327 | +€6.9m | +116% |
| Formation expenses | 20 | - | €413,842 | +€413,842 | |
| Fixed assets | 21/28 | €4,934,409 | €7,510,103 | +€2.6m | +52.2% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €4,934,159 | €5,584,648 | +€650,489 | +13.2% |
| Land and buildings | 22 | €4,838,177 | €4,517,126 | -€321,051 | -6.6% |
| Plant, machinery and equipment | 23 | €37,415 | €10,502 | -€26,913 | -71.9% |
| Furniture and vehicles | 24 | €3,609 | €28,197 | +€24,588 | +681% |
| Assets under construction and advance payments | 27 | €54,958 | €1,028,822 | +€973,864 | +1,772% |
| Financial fixed assets | 28 | €250 | €1,925,455 | +€1.9m | +770,082% |
| Current assets | 29/58 | €1,023,124 | €4,972,381 | +€3.9m | +386% |
| Stocks and contracts in progress | 3 | - | €12,083 | +€12,083 | |
| Stocks | 30/36 | - | €12,083 | +€12,083 | |
| Amounts receivable within one year | 40/41 | €107,531 | €204,388 | +€96,857 | +90.1% |
| Trade receivables | 40 | €75,236 | €84,877 | +€9,642 | +12.8% |
| Other amounts receivable | 41 | €32,296 | €119,511 | +€87,215 | +270% |
| Cash at bank and in hand | 54/58 | €891,736 | €4,699,640 | +€3.8m | +427% |
| Deferred charges and accrued income | 490/1 | €23,857 | €56,270 | +€32,413 | +136% |
| Total equity and liabilities | 10/49 | €5,957,533 | €12,896,327 | +€6.9m | +116% |
| Equity | 10/15 | €1,971,662 | €1,943,270 | -€28,392 | -1.4% |
| Contributions | 10/11 | €720,000 | €720,000 | = | 0.0% |
| Capital | 10 | €720,000 | €720,000 | = | 0.0% |
| Issued capital | 100 | €720,000 | €720,000 | = | 0.0% |
| Reserves | 13 | €73,160 | €73,160 | = | 0.0% |
| Non-distributable reserves | 130/1 | €72,000 | €72,000 | = | 0.0% |
| Legal reserve | 130 | €72,000 | €72,000 | = | 0.0% |
| Distributable reserves | 133 | €1,160 | €1,160 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,047,528 | €1,049,529 | +€2,001 | +0.2% |
| Investment grants | 15 | €130,974 | €100,581 | -€30,393 | -23.2% |
| Provisions and deferred taxes | 16 | €0 | €156,904 | +€156,904 | |
| Provisions for liabilities and charges | 160/5 | - | €156,904 | +€156,904 | |
| Other liabilities and charges | 164/5 | - | €156,904 | +€156,904 | |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €3,985,871 | €10,796,152 | +€6.8m | +171% |
| Amounts payable after more than one year | 17 | €0 | €10,200,000 | +€10.2m | |
| Financial debts | 170/4 | €0 | €10,200,000 | +€10.2m | |
| Amounts payable within one year | 42/48 | €3,945,386 | €596,152 | -€3.3m | -84.9% |
| Current portion of amounts payable after more than one year | 42 | €3,370,527 | €0 | -€3.4m | -100% |
| Trade debts | 44 | €389,086 | €386,013 | -€3,074 | -0.8% |
| Suppliers | 440/4 | €389,086 | €386,013 | -€3,074 | -0.8% |
| Advances received on contracts in progress | 46 | €69,459 | €91,693 | +€22,234 | +32.0% |
| Taxes, remuneration and social security | 45 | €116,313 | €118,447 | +€2,134 | +1.8% |
| Taxes | 450/3 | €34,728 | €73,397 | +€38,669 | +111% |
| Remuneration and social security | 454/9 | €81,585 | €45,050 | -€36,535 | -44.8% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €40,485 | €0 | -€40,485 | -100% |
| Remuneration, social security and pensions | 62 | €661,929 | €524,400 | -€137,529 | -20.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €461,493 | €399,679 | -€61,813 | -13.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €156,904 | +€156,904 | |
| Other operating charges | 640/8 | €167,580 | €85,118 | -€82,462 | -49.2% |
| Non-recurring operating charges | 66A | €14,607 | €3,335 | -€11,271 | -77.2% |
| Gross operating margin | 9900 | €1,833,792 | €1,721,980 | -€111,812 | -6.1% |
| Operating profit (loss) | 9901 | €528,184 | €552,544 | +€24,359 | +4.6% |
| Financial income | 75/76B | €10,180 | €248,299 | +€238,119 | +2,339% |
| Recurring financial income | 75 | €10,180 | €248,299 | +€238,119 | +2,339% |
| Financial charges | 65/66B | €373,629 | €797,142 | +€423,513 | +113% |
| Recurring financial charges | 65 | €373,629 | €797,142 | +€423,513 | +113% |
| Profit (loss) for the period before taxes | 9903 | €164,735 | €3,701 | -€161,034 | -97.8% |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Income taxes | 67/77 | €85,436 | €1,699 | -€83,737 | -98.0% |
| Profit (loss) for the period | 9904 | €79,299 | €2,001 | -€77,298 | -97.5% |
| Profit (loss) for the period to be appropriated | 9905 | €79,299 | €2,001 | -€77,298 | -97.5% |
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 18 October 2026 via checked.be.