Patrick BERGERET: 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.
Patrick BERGERET
Largest movements
- Receivables within one year -€14,186
down €14,186 (-41.7%), from €33,983 to €19,797
of which Trade receivables: -€13,252
- Tangible fixed assets -€14,120
down €14,120 (-12.5%), from €112,759 to €98,640
- Cash -€4,138
down €4,138 (-29.3%), from €14,135 to €9,997
mainly Net result for the year (-€20,744) and Debts after one year (-€7,346)
- Deferred charges and accrued income +€1,884
up €1,884 (+381.3%), from €494 to €2,378
- Profit (loss) carried forward -€20,744
down €20,744 (-29.4%), from €70,473 to €49,729
- Debts after one year -€7,346
down €7,346 (-27.1%), from €27,153 to €19,808
- Gross operating margin -€26,935
down €26,935 (-94.7%), from €28,431 to €1,496
- Other operating charges +€1,211
up €1,211 (+71.2%), from €1,701 to €2,913
- Financial charges -€990
down €990 (-22.6%), from €4,377 to €3,387
- Taxes -€513
down €513 (-62.6%), from €819 to €306
- Depreciation -€499
down €499 (-3.1%), from €15,913 to €15,414
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 | €188,196 | €158,369 | -€29,827 | -15.8% |
| Formation expenses | 20 | €771 | €771 | = | 0.0% |
| Fixed assets | 21/28 | €112,759 | €98,640 | -€14,120 | -12.5% |
| Tangible fixed assets | 22/27 | €112,759 | €98,640 | -€14,120 | -12.5% |
| Land and buildings | 22 | €68,833 | €66,000 | -€2,833 | -4.1% |
| Plant, machinery and equipment | 23 | €2,829 | €2,870 | +€41 | +1.5% |
| Furniture and vehicles | 24 | €7,177 | €2,616 | -€4,561 | -63.5% |
| Leasing and similar rights | 25 | €33,920 | €27,153 | -€6,767 | -19.9% |
| Current assets | 29/58 | €74,665 | €58,958 | -€15,707 | -21.0% |
| Stocks and contracts in progress | 3 | €26,053 | €26,786 | +€733 | +2.8% |
| Stocks | 30/36 | €26,053 | €26,786 | +€733 | +2.8% |
| Amounts receivable within one year | 40/41 | €33,983 | €19,797 | -€14,186 | -41.7% |
| Trade receivables | 40 | €32,332 | €19,080 | -€13,252 | -41.0% |
| Other amounts receivable | 41 | €1,652 | €717 | -€934 | -56.6% |
| Cash at bank and in hand | 54/58 | €14,135 | €9,997 | -€4,138 | -29.3% |
| Deferred charges and accrued income | 490/1 | €494 | €2,378 | +€1,884 | +381.3% |
| Total equity and liabilities | 10/49 | €188,196 | €158,369 | -€29,827 | -15.8% |
| Equity | 10/15 | €141,133 | €120,389 | -€20,744 | -14.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €52,060 | €52,060 | = | 0.0% |
| Distributable reserves | 133 | €52,060 | €52,060 | = | 0.0% |
| Profit (loss) carried forward | 14 | €70,473 | €49,729 | -€20,744 | -29.4% |
| Amounts payable | 17/49 | €47,063 | €37,980 | -€9,083 | -19.3% |
| Amounts payable after more than one year | 17 | €27,153 | €19,808 | -€7,346 | -27.1% |
| Financial debts | 170/4 | €27,153 | €19,808 | -€7,346 | -27.1% |
| Amounts payable within one year | 42/48 | €19,910 | €18,172 | -€1,737 | -8.7% |
| Current portion of amounts payable after more than one year | 42 | €6,767 | €7,346 | +€579 | +8.6% |
| Trade debts | 44 | €6,413 | €6,270 | -€144 | -2.2% |
| Suppliers | 440/4 | €6,413 | €6,270 | -€144 | -2.2% |
| Taxes, remuneration and social security | 45 | €2,700 | €1,375 | -€1,325 | -49.1% |
| Taxes | 450/3 | €1,302 | €1,375 | +€73 | +5.6% |
| Remuneration and social security | 454/9 | €1,398 | - | -€1,398 | |
| Other amounts payable | 47/48 | €4,029 | €3,181 | -€848 | -21.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,913 | €15,414 | -€499 | -3.1% |
| Other operating charges | 640/8 | €1,701 | €2,913 | +€1,211 | +71.2% |
| Non-recurring operating charges | 66A | €318 | €223 | -€95 | -29.9% |
| Gross operating margin | 9900 | €28,431 | €1,496 | -€26,935 | -94.7% |
| Operating profit (loss) | 9901 | €10,498 | -€17,055 | -€27,552 | |
| Financial income | 75/76B | €2 | €4 | +€1 | +57.6% |
| Recurring financial income | 75 | €2 | €4 | +€1 | +57.6% |
| Financial charges | 65/66B | €4,377 | €3,387 | -€990 | -22.6% |
| Recurring financial charges | 65 | €4,377 | €3,387 | -€990 | -22.6% |
| Profit (loss) for the period before taxes | 9903 | €6,123 | -€20,438 | -€26,561 | |
| Income taxes | 67/77 | €819 | €306 | -€513 | -62.6% |
| Profit (loss) for the period | 9904 | €5,304 | -€20,744 | -€26,048 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,304 | -€20,744 | -€26,048 |
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 12 October 2026 via checked.be.