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
- Stocks and contracts -€23,002
down €23,002 (-51.3%), from €44,818 to €21,816
- Receivables within one year +€19,492
up €19,492 (+82.7%), from €23,576 to €43,068
of which Other amounts receivable: +€13,368
- Cash +€11,441
up €11,441 (+892%), from €1,283 to €12,724
mainly Net result for the year (+€30,781) and Stocks and contracts (+€23,002)
- Tangible fixed assets -€2,162
down €2,162 (-16.3%), from €13,234 to €11,072
of which Plant, machinery and equipment: -€2,673
- Reserves +€31,548
up €31,548 (+222%), from €14,218 to €45,766
- Trade debts -€29,543
down €29,543 (-88.1%), from €33,530 to €3,987
- Tax, wage and social debts +€13,291
up €13,291 (+149%), from €8,891 to €22,182
- Other debts -€7,994
down €7,994 (-36.8%), from €21,738 to €13,744
- Advances received -€1,534
down €1,534 (-100%), from €1,534 to €0
- Gross operating margin +€48,726
up €48,726, from -€3,585 to €45,141
- Taxes +€9,650
up €9,650 (+7,539%), from €128 to €9,778
- Depreciation +€1,777
up €1,777 (+62.5%), from €2,844 to €4,620
- Other operating charges -€615
down €615 (-51.8%), from €1,186 to €571
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 | €82,911 | €88,680 | +€5,769 | +7.0% |
| Fixed assets | 21/28 | €13,234 | €11,072 | -€2,162 | -16.3% |
| Tangible fixed assets | 22/27 | €13,234 | €11,072 | -€2,162 | -16.3% |
| Plant, machinery and equipment | 23 | €10,050 | €7,376 | -€2,673 | -26.6% |
| Furniture and vehicles | 24 | €3,184 | €3,696 | +€512 | +16.1% |
| Current assets | 29/58 | €69,677 | €77,608 | +€7,930 | +11.4% |
| Stocks and contracts in progress | 3 | €44,818 | €21,816 | -€23,002 | -51.3% |
| Stocks | 30/36 | €44,818 | €21,816 | -€23,002 | -51.3% |
| Amounts receivable within one year | 40/41 | €23,576 | €43,068 | +€19,492 | +82.7% |
| Trade receivables | 40 | €22,825 | €28,949 | +€6,124 | +26.8% |
| Other amounts receivable | 41 | €750 | €14,119 | +€13,368 | +1,781% |
| Cash at bank and in hand | 54/58 | €1,283 | €12,724 | +€11,441 | +892% |
| Total equity and liabilities | 10/49 | €82,911 | €88,680 | +€5,769 | +7.0% |
| Equity | 10/15 | €17,218 | €48,766 | +€31,548 | +183% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €14,218 | €45,766 | +€31,548 | +222% |
| Distributable reserves | 133 | €14,218 | €45,766 | +€31,548 | +222% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €65,693 | €39,914 | -€25,780 | -39.2% |
| Amounts payable within one year | 42/48 | €65,693 | €39,914 | -€25,780 | -39.2% |
| Trade debts | 44 | €33,530 | €3,987 | -€29,543 | -88.1% |
| Suppliers | 440/4 | €33,530 | €3,987 | -€29,543 | -88.1% |
| Advances received on contracts in progress | 46 | €1,534 | €0 | -€1,534 | -100% |
| Taxes, remuneration and social security | 45 | €8,891 | €22,182 | +€13,291 | +149% |
| Taxes | 450/3 | €8,891 | €22,182 | +€13,291 | +149% |
| Other amounts payable | 47/48 | €21,738 | €13,744 | -€7,994 | -36.8% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,844 | €4,620 | +€1,777 | +62.5% |
| Other operating charges | 640/8 | €1,186 | €571 | -€615 | -51.8% |
| Gross operating margin | 9900 | -€3,585 | €45,141 | +€48,726 | |
| Operating profit (loss) | 9901 | -€7,615 | €39,949 | +€47,565 | |
| Financial income | 75/76B | €628 | €877 | +€249 | +39.6% |
| Recurring financial income | 75 | €628 | €877 | +€249 | +39.6% |
| Financial charges | 65/66B | €390 | €266 | -€124 | -31.7% |
| Recurring financial charges | 65 | €390 | €266 | -€124 | -31.7% |
| Profit (loss) for the period before taxes | 9903 | -€7,378 | €40,560 | +€47,937 | |
| Income taxes | 67/77 | €128 | €9,778 | +€9,650 | +7,539% |
| Profit (loss) for the period | 9904 | -€7,506 | €30,781 | +€38,287 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,506 | €30,781 | +€38,287 |
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 20 October 2026 via checked.be.