B_ART: 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.
B_ART
Largest movements
- Receivables within one year +€51,041
up €51,041 (+72.7%), from €70,243 to €121,285
- Cash +€27,574
up €27,574 (+27.6%), from €100,066 to €127,640
mainly Net result for the year (+€52,500) and Trade debts (+€31,659)
- Stocks and contracts +€10,637
up €10,637 (+10.7%), from €99,227 to €109,864
- Reserves +€52,500
up €52,500 (+27.6%), from €189,933 to €242,433
- Trade debts +€31,659
up €31,659 (+156.1%), from €20,279 to €51,938
- Tax, wage and social debts +€11,512
up €11,512 (+52.4%), from €21,956 to €33,467
- Other debts -€5,696
down €5,696 (-82.8%), from €6,881 to €1,185
- Gross operating margin -€39,388
down €39,388 (-33.6%), from €117,265 to €77,877
- Taxes -€17,242
down €17,242 (-43.8%), from €39,355 to €22,113
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 | €277,620 | €367,247 | +€89,627 | +32.3% |
| Fixed assets | 21/28 | €7,144 | €7,595 | +€451 | +6.3% |
| Tangible fixed assets | 22/27 | €7,144 | €7,595 | +€451 | +6.3% |
| Furniture and vehicles | 24 | €7,144 | €7,595 | +€451 | +6.3% |
| Current assets | 29/58 | €270,476 | €359,653 | +€89,176 | +33.0% |
| Stocks and contracts in progress | 3 | €99,227 | €109,864 | +€10,637 | +10.7% |
| Stocks | 30/36 | €99,227 | €109,864 | +€10,637 | +10.7% |
| Amounts receivable within one year | 40/41 | €70,243 | €121,285 | +€51,041 | +72.7% |
| Trade receivables | 40 | €70,243 | €121,285 | +€51,041 | +72.7% |
| Cash at bank and in hand | 54/58 | €100,066 | €127,640 | +€27,574 | +27.6% |
| Deferred charges and accrued income | 490/1 | €940 | €865 | -€75 | -8.0% |
| Total equity and liabilities | 10/49 | €277,620 | €367,247 | +€89,627 | +32.3% |
| Equity | 10/15 | €228,157 | €280,657 | +€52,500 | +23.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €189,933 | €242,433 | +€52,500 | +27.6% |
| Distributable reserves | 133 | €189,933 | €242,433 | +€52,500 | +27.6% |
| Profit (loss) carried forward | 14 | €19,623 | €19,623 | = | 0.0% |
| Amounts payable | 17/49 | €49,463 | €86,590 | +€37,127 | +75.1% |
| Amounts payable within one year | 42/48 | €49,116 | €86,590 | +€37,475 | +76.3% |
| Trade debts | 44 | €20,279 | €51,938 | +€31,659 | +156.1% |
| Suppliers | 440/4 | €20,279 | €51,938 | +€31,659 | +156.1% |
| Taxes, remuneration and social security | 45 | €21,956 | €33,467 | +€11,512 | +52.4% |
| Taxes | 450/3 | €21,956 | €33,467 | +€11,512 | +52.4% |
| Other amounts payable | 47/48 | €6,881 | €1,185 | -€5,696 | -82.8% |
| Accrued charges and deferred income | 492/3 | €348 | €0 | -€348 | -100.0% |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,622 | €2,855 | +€233 | +8.9% |
| Other operating charges | 640/8 | €1,301 | €344 | -€957 | -73.6% |
| Gross operating margin | 9900 | €117,265 | €77,877 | -€39,388 | -33.6% |
| Operating profit (loss) | 9901 | €113,342 | €74,678 | -€38,664 | -34.1% |
| Financial income | 75/76B | €0 | €472 | +€472 | +1574100.0% |
| Recurring financial income | 75 | €0 | €472 | +€472 | +1574100.0% |
| Financial charges | 65/66B | €222 | €537 | +€315 | +141.9% |
| Recurring financial charges | 65 | €222 | €537 | +€315 | +141.9% |
| Profit (loss) for the period before taxes | 9903 | €113,120 | €74,613 | -€38,507 | -34.0% |
| Income taxes | 67/77 | €39,355 | €22,113 | -€17,242 | -43.8% |
| Profit (loss) for the period | 9904 | €73,765 | €52,500 | -€21,265 | -28.8% |
| Profit (loss) for the period to be appropriated | 9905 | €73,765 | €52,500 | -€21,265 | -28.8% |
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 9 October 2026 via checked.be.