BAR BOL: 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.
BAR BOL
Largest movements
- Tangible fixed assets +€498,913
up €498,913 (+395%), from €126,159 to €625,072
of which Land and buildings: +€325,429
- Receivables within one year +€67,234
up €67,234 (+214%), from €31,374 to €98,608
of which Trade receivables: +€51,983
- Cash -€16,833
down €16,833 (-28.2%), from €59,712 to €42,879
mainly Investment in fixed assets (net) (-€529,851) and Receivables within one year (-€67,234)
- Deferred charges and accrued income +€11,247
up €11,247 (+757%), from €1,486 to €12,733
- Debts after one year +€473,617
up €473,617 (+807%), from €58,698 to €532,315
- Current portion of long-term debt +€48,424
up €48,424 (+387%), from €12,518 to €60,942
- Short-term financial debts +€40,801
new in 2025: €40,801
- Reserves +€16,054
up €16,054 (+21.8%), from €73,610 to €89,664
- Trade debts -€12,235
down €12,235 (-32.6%), from €37,506 to €25,271
- Gross operating margin -€89,726
down €89,726 (-49.4%), from €181,793 to €92,067
- Staff costs -€58,884
down €58,884 (-66.3%), from €88,764 to €29,880
- Financial charges +€11,315
up €11,315 (+288%), from €3,933 to €15,248
- Depreciation -€9,487
down €9,487 (-25.1%), from €37,790 to €28,304
- Taxes -€9,100
down €9,100 (-84.1%), from €10,825 to €1,725
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 | €219,481 | €786,826 | +€567,346 | +258% |
| Fixed assets | 21/28 | €126,159 | €627,707 | +€501,548 | +398% |
| Intangible fixed assets | 21 | - | €2,634 | +€2,634 | |
| Tangible fixed assets | 22/27 | €126,159 | €625,072 | +€498,913 | +395% |
| Land and buildings | 22 | - | €325,429 | +€325,429 | |
| Plant, machinery and equipment | 23 | €42,309 | €33,440 | -€8,869 | -21.0% |
| Furniture and vehicles | 24 | €10,530 | €106,572 | +€96,042 | +912% |
| Leasing and similar rights | 25 | €0 | €68,114 | +€68,114 | |
| Other tangible fixed assets | 26 | €73,320 | €91,518 | +€18,198 | +24.8% |
| Current assets | 29/58 | €93,322 | €159,120 | +€65,798 | +70.5% |
| Stocks and contracts in progress | 3 | €750 | €4,900 | +€4,150 | +553% |
| Stocks | 30/36 | €750 | €4,900 | +€4,150 | +553% |
| Amounts receivable within one year | 40/41 | €31,374 | €98,608 | +€67,234 | +214% |
| Trade receivables | 40 | €4,444 | €56,427 | +€51,983 | +1,170% |
| Other amounts receivable | 41 | €26,930 | €42,182 | +€15,251 | +56.6% |
| Cash at bank and in hand | 54/58 | €59,712 | €42,879 | -€16,833 | -28.2% |
| Deferred charges and accrued income | 490/1 | €1,486 | €12,733 | +€11,247 | +757% |
| Total equity and liabilities | 10/49 | €219,481 | €786,826 | +€567,346 | +258% |
| Equity | 10/15 | €92,010 | €108,064 | +€16,054 | +17.4% |
| Contributions | 10/11 | €18,400 | €18,400 | = | 0.0% |
| Reserves | 13 | €73,610 | €89,664 | +€16,054 | +21.8% |
| Distributable reserves | 133 | €73,610 | €89,664 | +€16,054 | +21.8% |
| Amounts payable | 17/49 | €127,471 | €678,762 | +€551,292 | +432% |
| Amounts payable after more than one year | 17 | €58,698 | €532,315 | +€473,617 | +807% |
| Financial debts | 170/4 | €58,698 | €532,315 | +€473,617 | +807% |
| Amounts payable within one year | 42/48 | €66,326 | €145,838 | +€79,512 | +120% |
| Current portion of amounts payable after more than one year | 42 | €12,518 | €60,942 | +€48,424 | +387% |
| Financial debts | 43 | - | €40,801 | +€40,801 | |
| Credit institutions | 430/8 | - | €40,801 | +€40,801 | |
| Trade debts | 44 | €37,506 | €25,271 | -€12,235 | -32.6% |
| Suppliers | 440/4 | €37,506 | €25,271 | -€12,235 | -32.6% |
| Advances received on contracts in progress | 46 | €1,543 | - | -€1,543 | |
| Taxes, remuneration and social security | 45 | €8,361 | €12,020 | +€3,658 | +43.8% |
| Taxes | 450/3 | €1,454 | €9,021 | +€7,567 | +520% |
| Remuneration and social security | 454/9 | €6,907 | €2,999 | -€3,909 | -56.6% |
| Other amounts payable | 47/48 | €6,397 | €6,804 | +€406 | +6.4% |
| Accrued charges and deferred income | 492/3 | €2,447 | €610 | -€1,837 | -75.1% |
| Non-recurring operating income | 76A | - | €6,271 | +€6,271 | |
| Remuneration, social security and pensions | 62 | €88,764 | €29,880 | -€58,884 | -66.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,790 | €28,304 | -€9,487 | -25.1% |
| Other operating charges | 640/8 | €473 | €1,890 | +€1,418 | +300% |
| Gross operating margin | 9900 | €181,793 | €92,067 | -€89,726 | -49.4% |
| Operating profit (loss) | 9901 | €54,766 | €31,993 | -€22,773 | -41.6% |
| Financial income | 75/76B | €874 | €1,034 | +€160 | +18.4% |
| Recurring financial income | 75 | €874 | €1,034 | +€160 | +18.4% |
| Financial charges | 65/66B | €3,933 | €15,248 | +€11,315 | +288% |
| Recurring financial charges | 65 | €3,933 | €15,248 | +€11,315 | +288% |
| Profit (loss) for the period before taxes | 9903 | €51,707 | €17,779 | -€33,928 | -65.6% |
| Income taxes | 67/77 | €10,825 | €1,725 | -€9,100 | -84.1% |
| Profit (loss) for the period | 9904 | €40,881 | €16,054 | -€24,827 | -60.7% |
| Profit (loss) for the period to be appropriated | 9905 | €40,881 | €16,054 | -€24,827 | -60.7% |
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 16 October 2026 via checked.be.