SIRIUS BERTREE: what changed
Two fiscal 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.
SIRIUS BERTREE
Largest movements
- Receivables within one year -€50,757
down €50,757 (-28.9%), from €175,910 to €125,153
of which Trade receivables: -€51,990
- Tangible fixed assets +€22,304
up €22,304 (+23.6%), from €94,456 to €116,760
of which Land and buildings: +€23,131
- Cash -€12,709
down €12,709 (-61.5%), from €20,668 to €7,959
mainly Advances received (-€41,388) and Investment in fixed assets (net) (-€38,467)
- Advances received -€41,388
no longer reported in 2025 (was €41,388)
- Trade debts -€26,109
down €26,109 (-68.0%), from €38,380 to €12,271
- Debts after one year +€24,821
up €24,821 (+25.5%), from €97,259 to €122,080
- Current portion of long-term debt +€8,175
up €8,175 (+40.3%), from €20,291 to €28,466
- Profit (loss) carried forward -€4,777
down €4,777 (-5.7%), from -€84,263 to -€89,040
- Gross operating margin +€10,682
up €10,682 (+167.2%), from €6,388 to €17,070
- Financial income -€5,045
down €5,045 (-88.7%), from €5,686 to €641
- Other operating charges -€4,643
no longer reported in 2025 (was €4,643)
- Depreciation -€1,925
down €1,925 (-10.6%), from €18,088 to €16,163
- Financial charges +€1,427
up €1,427 (+29.6%), from €4,823 to €6,250
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 | €291,142 | €249,916 | -€41,227 | -14.2% |
| Fixed assets | 21/28 | €94,456 | €116,760 | +€22,304 | +23.6% |
| Tangible fixed assets | 22/27 | €94,456 | €116,760 | +€22,304 | +23.6% |
| Land and buildings | 22 | €87,565 | €110,696 | +€23,131 | +26.4% |
| Plant, machinery and equipment | 23 | €6,892 | €6,065 | -€827 | -12.0% |
| Current assets | 29/58 | €196,686 | €133,155 | -€63,531 | -32.3% |
| Amounts receivable within one year | 40/41 | €175,910 | €125,153 | -€50,757 | -28.9% |
| Trade receivables | 40 | €61,418 | €9,429 | -€51,990 | -84.6% |
| Other amounts receivable | 41 | €114,492 | €115,725 | +€1,233 | +1.1% |
| Cash at bank and in hand | 54/58 | €20,668 | €7,959 | -€12,709 | -61.5% |
| Deferred charges and accrued income | 490/1 | €108 | €43 | -€65 | -60.0% |
| Total equity and liabilities | 10/49 | €291,142 | €249,916 | -€41,227 | -14.2% |
| Equity | 10/15 | €90,162 | €85,384 | -€4,777 | -5.3% |
| Contributions | 10/11 | €158,568 | €158,568 | = | 0.0% |
| Reserves | 13 | €15,857 | €15,857 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,857 | €15,857 | = | 0.0% |
| Reserves not available under the articles | 1311 | €15,857 | €15,857 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€84,263 | -€89,040 | -€4,777 | -5.7% |
| Amounts payable | 17/49 | €200,981 | €164,531 | -€36,450 | -18.1% |
| Amounts payable after more than one year | 17 | €97,259 | €122,080 | +€24,821 | +25.5% |
| Financial debts | 170/4 | €97,259 | €122,080 | +€24,821 | +25.5% |
| Amounts payable within one year | 42/48 | €103,722 | €42,451 | -€61,271 | -59.1% |
| Current portion of amounts payable after more than one year | 42 | €20,291 | €28,466 | +€8,175 | +40.3% |
| Trade debts | 44 | €38,380 | €12,271 | -€26,109 | -68.0% |
| Suppliers | 440/4 | €38,380 | €12,271 | -€26,109 | -68.0% |
| Advances received on contracts in progress | 46 | €41,388 | - | -€41,388 | |
| Taxes, remuneration and social security | 45 | €3,662 | €1,714 | -€1,948 | -53.2% |
| Taxes | 450/3 | €3,662 | €1,714 | -€1,948 | -53.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,088 | €16,163 | -€1,925 | -10.6% |
| Other operating charges | 640/8 | €4,643 | - | -€4,643 | |
| Gross operating margin | 9900 | €6,388 | €17,070 | +€10,682 | +167.2% |
| Operating profit (loss) | 9901 | -€16,344 | €907 | +€17,251 | |
| Financial income | 75/76B | €5,686 | €641 | -€5,045 | -88.7% |
| Recurring financial income | 75 | €5,686 | €641 | -€5,045 | -88.7% |
| Financial charges | 65/66B | €4,823 | €6,250 | +€1,427 | +29.6% |
| Recurring financial charges | 65 | €4,823 | €6,250 | +€1,427 | +29.6% |
| Profit (loss) for the period before taxes | 9903 | -€15,481 | -€4,703 | +€10,778 | +69.6% |
| Income taxes | 67/77 | €139 | €75 | -€64 | -46.2% |
| Profit (loss) for the period | 9904 | -€15,620 | -€4,777 | +€10,843 | +69.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,620 | -€4,777 | +€10,843 | +69.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.