BERART: 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.
BERART
Largest movements
- Tangible fixed assets +€3.3m
up €3.3m (+170%), from €1.9m to €5.2m
of which Land and buildings: +€2.1m
- Current investments -€2.2m
down €2.2m (-6.2%), from €36.4m to €34.2m
- Accrued charges and deferred income +€5.1m
up €5.1m (+919%), from €554,745 to €5.7m
- Other debts -€4.4m
down €4.4m (-96.2%), from €4.6m to €173,305
- Gross operating margin -€60,122
down €60,122 (-318%), from -€18,877 to -€78,998
- Taxes +€54,430
up €54,430 (+34.6%), from €157,132 to €211,561
- Depreciation -€18,817
down €18,817 (-23.7%), from €79,495 to €60,678
- Financial income -€7,027
down €7,027 (-1.0%), from €706,167 to €699,140
- Other operating charges +€2,294
up €2,294 (+30.5%), from €7,516 to €9,810
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 | €40,351,017 | €41,334,665 | +€983,648 | +2.4% |
| Fixed assets | 21/28 | €1,918,206 | €5,187,105 | +€3.3m | +170% |
| Tangible fixed assets | 22/27 | €1,918,206 | €5,174,555 | +€3.3m | +170% |
| Land and buildings | 22 | €1,584,000 | €3,688,205 | +€2.1m | +133% |
| Furniture and vehicles | 24 | €13,826 | €8,181 | -€5,645 | -40.8% |
| Assets under construction and advance payments | 27 | €320,380 | €1,478,168 | +€1.2m | +361% |
| Financial fixed assets | 28 | - | €12,550 | +€12,550 | |
| Current assets | 29/58 | €38,432,811 | €36,147,560 | -€2.3m | -5.9% |
| Stocks and contracts in progress | 3 | €1,603,058 | €1,869,329 | +€266,271 | +16.6% |
| Stocks | 30/36 | €1,603,058 | €1,869,329 | +€266,271 | +16.6% |
| Amounts receivable within one year | 40/41 | €273,216 | €76,369 | -€196,848 | -72.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €273,216 | €76,369 | -€196,848 | -72.0% |
| Current investments | 50/53 | €36,396,737 | €34,151,219 | -€2.2m | -6.2% |
| Cash at bank and in hand | 54/58 | €113,416 | €18,627 | -€94,788 | -83.6% |
| Deferred charges and accrued income | 490/1 | €46,384 | €32,016 | -€14,368 | -31.0% |
| Total equity and liabilities | 10/49 | €40,351,017 | €41,334,665 | +€983,648 | +2.4% |
| Equity | 10/15 | €35,047,874 | €35,381,641 | +€333,766 | +1.0% |
| Contributions | 10/11 | €34,500,000 | €34,500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €547,874 | €881,641 | +€333,766 | +60.9% |
| Amounts payable | 17/49 | €5,303,142 | €5,953,024 | +€649,882 | +12.3% |
| Amounts payable within one year | 42/48 | €4,748,398 | €300,002 | -€4.4m | -93.7% |
| Trade debts | 44 | €66,053 | €69,819 | +€3,766 | +5.7% |
| Suppliers | 440/4 | €66,053 | €69,819 | +€3,766 | +5.7% |
| Taxes, remuneration and social security | 45 | €75,637 | €56,878 | -€18,759 | -24.8% |
| Taxes | 450/3 | €75,637 | €56,878 | -€18,759 | -24.8% |
| Other amounts payable | 47/48 | €4,606,708 | €173,305 | -€4.4m | -96.2% |
| Accrued charges and deferred income | 492/3 | €554,745 | €5,653,022 | +€5.1m | +919% |
| Non-recurring operating income | 76A | - | €10,339 | +€10,339 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,495 | €60,678 | -€18,817 | -23.7% |
| Other operating charges | 640/8 | €7,516 | €9,810 | +€2,294 | +30.5% |
| Gross operating margin | 9900 | -€18,877 | -€78,998 | -€60,122 | -318% |
| Operating profit (loss) | 9901 | -€105,887 | -€149,486 | -€43,599 | -41.2% |
| Financial income | 75/76B | €706,167 | €699,140 | -€7,027 | -1.0% |
| Recurring financial income | 75 | €706,167 | €699,140 | -€7,027 | -1.0% |
| Financial charges | 65/66B | €2,215 | €4,326 | +€2,111 | +95.3% |
| Recurring financial charges | 65 | €2,215 | €4,326 | +€2,111 | +95.3% |
| Profit (loss) for the period before taxes | 9903 | €598,065 | €545,328 | -€52,738 | -8.8% |
| Income taxes | 67/77 | €157,132 | €211,561 | +€54,430 | +34.6% |
| Profit (loss) for the period | 9904 | €440,933 | €333,766 | -€107,167 | -24.3% |
| Profit (loss) for the period to be appropriated | 9905 | €440,933 | €333,766 | -€107,167 | -24.3% |
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 27 October 2026 via checked.be.