LUC BERTEYN: 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.
LUC BERTEYN
Largest movements
- Receivables within one year +€22,679
up €22,679 (+408%), from €5,563 to €28,242
of which Trade receivables: +€21,652
- Cash -€17,095
down €17,095 (-69.2%), from €24,706 to €7,611
mainly Receivables within one year (-€22,679) and Net result for the year (-€2,872)
- Deferred charges and accrued income -€1,342
down €1,342 (-50.4%), from €2,663 to €1,322
- Other debts +€7,689
up €7,689 (+36.5%), from €21,082 to €28,771
- Profit (loss) carried forward -€2,872
down €2,872 (-12.3%), from -€23,367 to -€26,239
- Trade debts -€575
down €575 (-15.3%), from €3,767 to €3,192
- Gross operating margin -€11,175
down €11,175, from €9,507 to -€1,668
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 | €34,307 | €38,550 | +€4,242 | +12.4% |
| Fixed assets | 21/28 | €1,200 | €1,200 | = | 0.0% |
| Financial fixed assets | 28 | €1,200 | €1,200 | = | 0.0% |
| Current assets | 29/58 | €33,107 | €37,350 | +€4,242 | +12.8% |
| Stocks and contracts in progress | 3 | €175 | €175 | = | 0.0% |
| Stocks | 30/36 | €175 | €175 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €5,563 | €28,242 | +€22,679 | +408% |
| Trade receivables | 40 | €4,946 | €26,598 | +€21,652 | +438% |
| Other amounts receivable | 41 | €617 | €1,644 | +€1,027 | +166% |
| Cash at bank and in hand | 54/58 | €24,706 | €7,611 | -€17,095 | -69.2% |
| Deferred charges and accrued income | 490/1 | €2,663 | €1,322 | -€1,342 | -50.4% |
| Total equity and liabilities | 10/49 | €34,307 | €38,550 | +€4,242 | +12.4% |
| Equity | 10/15 | €9,459 | €6,587 | -€2,872 | -30.4% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €26,620 | €26,620 | = | 0.0% |
| Distributable reserves | 133 | €26,620 | €26,620 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,367 | -€26,239 | -€2,872 | -12.3% |
| Amounts payable | 17/49 | €24,849 | €31,963 | +€7,114 | +28.6% |
| Amounts payable within one year | 42/48 | €24,849 | €31,963 | +€7,114 | +28.6% |
| Trade debts | 44 | €3,767 | €3,192 | -€575 | -15.3% |
| Suppliers | 440/4 | €3,767 | €3,192 | -€575 | -15.3% |
| Other amounts payable | 47/48 | €21,082 | €28,771 | +€7,689 | +36.5% |
| Other operating charges | 640/8 | €1,066 | €1,052 | -€14 | -1.3% |
| Gross operating margin | 9900 | €9,507 | -€1,668 | -€11,175 | |
| Operating profit (loss) | 9901 | €8,441 | -€2,720 | -€11,161 | |
| Financial income | 75/76B | €2 | €0 | -€2 | -83.6% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -83.6% |
| Financial charges | 65/66B | €107 | €152 | +€45 | +42.5% |
| Recurring financial charges | 65 | €107 | €152 | +€45 | +42.5% |
| Profit (loss) for the period before taxes | 9903 | €8,336 | -€2,872 | -€11,208 | |
| Profit (loss) for the period | 9904 | €8,336 | -€2,872 | -€11,208 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,336 | -€2,872 | -€11,208 |
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 20 October 2026 via checked.be.