BARAT: 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.
BARAT
Largest movements
- Receivables within one year -€399,069
down €399,069 (-45.6%), from €874,708 to €475,639
of which Trade receivables: -€377,235
- Cash +€56,577
up €56,577 (+19.2%), from €295,112 to €351,689
mainly Receivables within one year (+€399,069) and Depreciation (+€344,697)
- Stocks and contracts +€50,369
up €50,369 (+34.9%), from €144,473 to €194,842
- Trade debts -€441,101
down €441,101 (-80.3%), from €549,593 to €108,492
- Accrued charges and deferred income +€156,200
up €156,200 (+11679.4%), from €1,337 to €157,537
- Other debts +€118,930
new in 2025: €118,930
- Debts after one year -€109,374
down €109,374 (-15.8%), from €692,288 to €582,914
- Profit (loss) carried forward +€89,387
up €89,387 (+65.3%), from €136,843 to €226,230
- Gross operating margin +€909,796
up €909,796 (+61.6%), from €1.5m to €2.4m
- Staff costs +€513,208
up €513,208 (+46.6%), from €1.1m to €1.6m
- Taxes -€301,833
down €301,833 (-95.1%), from €317,255 to €15,422
- Write-downs +€192,053
up €192,053 (+368.6%), from €52,106 to €244,159
- Depreciation +€122,486
up €122,486 (+55.1%), from €222,211 to €344,697
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 | €2,282,809 | €1,966,825 | -€315,984 | -13.8% |
| Fixed assets | 21/28 | €961,542 | €940,652 | -€20,890 | -2.2% |
| Intangible fixed assets | 21 | €56,110 | €49,443 | -€6,667 | -11.9% |
| Tangible fixed assets | 22/27 | €899,298 | €885,075 | -€14,223 | -1.6% |
| Land and buildings | 22 | - | €139,144 | +€139,144 | |
| Plant, machinery and equipment | 23 | €625,017 | €497,876 | -€127,141 | -20.3% |
| Leasing and similar rights | 25 | €274,281 | €218,786 | -€55,495 | -20.2% |
| Other tangible fixed assets | 26 | - | €29,269 | +€29,269 | |
| Financial fixed assets | 28 | €6,134 | €6,134 | = | 0.0% |
| Current assets | 29/58 | €1,321,267 | €1,026,173 | -€295,094 | -22.3% |
| Stocks and contracts in progress | 3 | €144,473 | €194,842 | +€50,369 | +34.9% |
| Stocks | 30/36 | €144,473 | €194,842 | +€50,369 | +34.9% |
| Amounts receivable within one year | 40/41 | €874,708 | €475,639 | -€399,069 | -45.6% |
| Trade receivables | 40 | €565,501 | €188,266 | -€377,235 | -66.7% |
| Other amounts receivable | 41 | €309,207 | €287,373 | -€21,834 | -7.1% |
| Cash at bank and in hand | 54/58 | €295,112 | €351,689 | +€56,577 | +19.2% |
| Deferred charges and accrued income | 490/1 | €6,973 | €4,003 | -€2,970 | -42.6% |
| Total equity and liabilities | 10/49 | €2,282,809 | €1,966,825 | -€315,984 | -13.8% |
| Equity | 10/15 | €453,014 | €542,402 | +€89,388 | +19.7% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €276,172 | €276,172 | +€0 | 0.0% |
| Non-distributable reserves | 130/1 | €4,000 | €4,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,000 | €4,000 | = | 0.0% |
| Distributable reserves | 133 | €272,172 | €272,172 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | €136,843 | €226,230 | +€89,387 | +65.3% |
| Amounts payable | 17/49 | €1,829,794 | €1,424,423 | -€405,371 | -22.2% |
| Amounts payable after more than one year | 17 | €692,288 | €582,914 | -€109,374 | -15.8% |
| Financial debts | 170/4 | €692,288 | €582,914 | -€109,374 | -15.8% |
| Amounts payable within one year | 42/48 | €1,136,169 | €683,972 | -€452,197 | -39.8% |
| Current portion of amounts payable after more than one year | 42 | €174,440 | €120,785 | -€53,655 | -30.8% |
| Financial debts | 43 | €63 | - | -€63 | |
| Credit institutions | 430/8 | €63 | - | -€63 | |
| Trade debts | 44 | €549,593 | €108,492 | -€441,101 | -80.3% |
| Suppliers | 440/4 | €549,593 | €108,492 | -€441,101 | -80.3% |
| Taxes, remuneration and social security | 45 | €412,073 | €335,765 | -€76,308 | -18.5% |
| Taxes | 450/3 | €235,267 | €126,429 | -€108,838 | -46.3% |
| Remuneration and social security | 454/9 | €176,807 | €209,336 | +€32,529 | +18.4% |
| Other amounts payable | 47/48 | - | €118,930 | +€118,930 | |
| Accrued charges and deferred income | 492/3 | €1,337 | €157,537 | +€156,200 | +11679.4% |
| Remuneration, social security and pensions | 62 | €1,100,305 | €1,613,513 | +€513,208 | +46.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €222,211 | €344,697 | +€122,486 | +55.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €52,106 | €244,159 | +€192,053 | +368.6% |
| Other operating charges | 640/8 | €12,344 | €22,764 | +€10,420 | +84.4% |
| Non-recurring operating charges | 66A | €5,860 | €595 | -€5,265 | -89.8% |
| Gross operating margin | 9900 | €1,477,753 | €2,387,549 | +€909,796 | +61.6% |
| Operating profit (loss) | 9901 | €84,926 | €161,821 | +€76,895 | +90.5% |
| Financial income | 75/76B | €1,751 | €3,244 | +€1,493 | +85.2% |
| Recurring financial income | 75 | €1,751 | €3,244 | +€1,493 | +85.2% |
| Financial charges | 65/66B | €26,422 | €60,256 | +€33,834 | +128.1% |
| Recurring financial charges | 65 | €26,422 | €60,256 | +€33,834 | +128.1% |
| Profit (loss) for the period before taxes | 9903 | €60,255 | €104,809 | +€44,554 | +73.9% |
| Income taxes | 67/77 | €317,255 | €15,422 | -€301,833 | -95.1% |
| Profit (loss) for the period | 9904 | -€256,999 | €89,387 | +€346,386 | |
| Profit (loss) for the period to be appropriated | 9905 | -€256,999 | €89,387 | +€346,386 |
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.