MICHEL BERGMANS: what changed
MICHEL BERGMANS
Largest movements
- Cash +€18,405
up €18,405 (+36.6%), from €50,339 to €68,744
mainly Depreciation (+€24,970) and Trade debts (+€12,721)
- Tangible fixed assets -€16,020
down €16,020 (-16.8%), from €95,224 to €79,205
of which Land and buildings: -€9,560
- Current investments +€7,185
new in 2025: €7,185
- Deferred charges and accrued income +€5,092
up €5,092 (+642%), from €794 to €5,886
- Trade debts +€12,721
up €12,721 (+371%), from €3,432 to €16,153
- Reserves +€9,803
up €9,803 (+11.5%), from €85,336 to €95,139
of which Distributable reserves: +€9,803
- Other debts -€5,316
down €5,316 (-33.9%), from €15,677 to €10,362
- Contributions -€2,000
down €2,000 (-23.0%), from €8,700 to €6,700
- Gross operating margin -€17,292
down €17,292 (-30.1%), from €57,524 to €40,232
- Depreciation +€5,273
up €5,273 (+26.8%), from €19,697 to €24,970
- Taxes -€1,187
down €1,187 (-24.1%), from €4,923 to €3,737
- Financial charges -€985
down €985 (-84.1%), from €1,172 to €187
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €160,226 | €174,809 | +€14,583 | +9.1% |
| Fixed assets | 21/28 | €95,224 | €79,205 | -€16,020 | -16.8% |
| Tangible fixed assets | 22/27 | €95,224 | €79,205 | -€16,020 | -16.8% |
| Land and buildings | 22 | €45,408 | €35,849 | -€9,560 | -21.1% |
| Plant, machinery and equipment | 23 | €46,427 | €42,650 | -€3,777 | -8.1% |
| Furniture and vehicles | 24 | €3,389 | €706 | -€2,683 | -79.2% |
| Current assets | 29/58 | €65,002 | €95,604 | +€30,603 | +47.1% |
| Amounts receivable within one year | 40/41 | €13,869 | €13,789 | -€79 | -0.6% |
| Trade receivables | 40 | €9,774 | €12,347 | +€2,573 | +26.3% |
| Other amounts receivable | 41 | €4,094 | €1,442 | -€2,652 | -64.8% |
| Current investments | 50/53 | - | €7,185 | +€7,185 | |
| Cash at bank and in hand | 54/58 | €50,339 | €68,744 | +€18,405 | +36.6% |
| Deferred charges and accrued income | 490/1 | €794 | €5,886 | +€5,092 | +642% |
| Total equity and liabilities | 10/49 | €160,226 | €174,809 | +€14,583 | +9.1% |
| Equity | 10/15 | €137,206 | €145,009 | +€7,803 | +5.7% |
| Contributions | 10/11 | €8,700 | €6,700 | -€2,000 | -23.0% |
| Reserves | 13 | €85,336 | €95,139 | +€9,803 | +11.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €85,336 | €95,139 | +€9,803 | +11.5% |
| Profit (loss) carried forward | 14 | €43,170 | €43,170 | = | 0.0% |
| Amounts payable | 17/49 | €23,020 | €29,800 | +€6,780 | +29.5% |
| Amounts payable within one year | 42/48 | €23,020 | €29,800 | +€6,780 | +29.5% |
| Trade debts | 44 | €3,432 | €16,153 | +€12,721 | +371% |
| Suppliers | 440/4 | €3,432 | €16,153 | +€12,721 | +371% |
| Taxes, remuneration and social security | 45 | €3,911 | €3,285 | -€626 | -16.0% |
| Taxes | 450/3 | €1,411 | €785 | -€626 | -44.4% |
| Remuneration and social security | 454/9 | €2,500 | €2,500 | = | 0.0% |
| Other amounts payable | 47/48 | €15,677 | €10,362 | -€5,316 | -33.9% |
| Non-recurring operating income | 76A | €8,822 | €0 | -€8,822 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,697 | €24,970 | +€5,273 | +26.8% |
| Other operating charges | 640/8 | €1,367 | €1,741 | +€374 | +27.4% |
| Gross operating margin | 9900 | €57,524 | €40,232 | -€17,292 | -30.1% |
| Operating profit (loss) | 9901 | €36,460 | €13,521 | -€22,939 | -62.9% |
| Financial income | 75/76B | €349 | €205 | -€144 | -41.2% |
| Recurring financial income | 75 | €349 | €205 | -€144 | -41.2% |
| Financial charges | 65/66B | €1,172 | €187 | -€985 | -84.1% |
| Recurring financial charges | 65 | €1,172 | €187 | -€985 | -84.1% |
| Profit (loss) for the period before taxes | 9903 | €35,637 | €13,540 | -€22,097 | -62.0% |
| Income taxes | 67/77 | €4,923 | €3,737 | -€1,187 | -24.1% |
| Profit (loss) for the period | 9904 | €30,714 | €9,803 | -€20,910 | -68.1% |
| Profit (loss) for the period to be appropriated | 9905 | €30,714 | €9,803 | -€20,910 | -68.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.