Barnes & Morgan: 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.
Barnes & Morgan
Largest movements
- Cash +€19,447
up €19,447 (+76.0%), from €25,590 to €45,037
mainly Depreciation (+€31,283) and Net result for the year (+€9,825)
- Tangible fixed assets -€11,540
down €11,540 (-2.3%), from €507,263 to €495,723
- Debts after one year -€10,303
down €10,303 (-6.1%), from €167,754 to €157,451
- Profit (loss) carried forward +€9,462
up €9,462, from -€9,462 to €0
- Accrued charges and deferred income +€8,029
new in 2025: €8,029
- Gross operating margin +€19,752
up €19,752 (+54.0%), from €36,568 to €56,320
- Financial charges +€8,346
up €8,346 (+153%), from €5,448 to €13,793
of which Financial charges: +€8,346
- Depreciation -€1,613
down €1,613 (-4.9%), from €32,896 to €31,283
- Taxes +€1,361
new in 2025: €1,361
- Other operating charges -€734
down €734 (-92.2%), from €796 to €62
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 | €550,626 | €558,898 | +€8,272 | +1.5% |
| Fixed assets | 21/28 | €507,263 | €495,723 | -€11,540 | -2.3% |
| Tangible fixed assets | 22/27 | €507,263 | €495,723 | -€11,540 | -2.3% |
| Land and buildings | 22 | €474,653 | €471,353 | -€3,300 | -0.7% |
| Plant, machinery and equipment | 23 | €8,619 | €5,824 | -€2,794 | -32.4% |
| Furniture and vehicles | 24 | €23,991 | €18,546 | -€5,446 | -22.7% |
| Current assets | 29/58 | €43,363 | €63,175 | +€19,812 | +45.7% |
| Amounts receivable within one year | 40/41 | €14,438 | €11,632 | -€2,806 | -19.4% |
| Trade receivables | 40 | €9,438 | €11,632 | +€2,194 | +23.2% |
| Other amounts receivable | 41 | €5,000 | €0 | -€5,000 | -100% |
| Cash at bank and in hand | 54/58 | €25,590 | €45,037 | +€19,447 | +76.0% |
| Deferred charges and accrued income | 490/1 | €3,335 | €6,506 | +€3,171 | +95.1% |
| Total equity and liabilities | 10/49 | €550,626 | €558,898 | +€8,272 | +1.5% |
| Equity | 10/15 | €247,126 | €256,951 | +€9,825 | +4.0% |
| Contributions | 10/11 | €143,600 | €143,600 | = | 0.0% |
| Reserves | 13 | €112,988 | €113,351 | +€363 | +0.3% |
| Distributable reserves | 133 | €112,988 | €113,351 | +€363 | +0.3% |
| Profit (loss) carried forward | 14 | -€9,462 | €0 | +€9,462 | |
| Amounts payable | 17/49 | €303,500 | €301,947 | -€1,552 | -0.5% |
| Amounts payable after more than one year | 17 | €167,754 | €157,451 | -€10,303 | -6.1% |
| Financial debts | 170/4 | €167,754 | €157,451 | -€10,303 | -6.1% |
| Amounts payable within one year | 42/48 | €135,746 | €136,467 | +€721 | +0.5% |
| Current portion of amounts payable after more than one year | 42 | €9,974 | €10,303 | +€328 | +3.3% |
| Trade debts | 44 | €4,974 | €4,927 | -€48 | -1.0% |
| Suppliers | 440/4 | €4,974 | €4,927 | -€48 | -1.0% |
| Taxes, remuneration and social security | 45 | €5,104 | €10,126 | +€5,022 | +98.4% |
| Taxes | 450/3 | €5,104 | €10,126 | +€5,022 | +98.4% |
| Other amounts payable | 47/48 | €115,693 | €111,112 | -€4,581 | -4.0% |
| Accrued charges and deferred income | 492/3 | - | €8,029 | +€8,029 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,896 | €31,283 | -€1,613 | -4.9% |
| Other operating charges | 640/8 | €796 | €62 | -€734 | -92.2% |
| Non-recurring operating charges | 66A | €5,598 | - | -€5,598 | |
| Gross operating margin | 9900 | €36,568 | €56,320 | +€19,752 | +54.0% |
| Operating profit (loss) | 9901 | -€2,721 | €24,975 | +€27,697 | |
| Financial income | 75/76B | - | €4 | +€4 | |
| Recurring financial income | 75 | - | €4 | +€4 | |
| Financial charges | 65/66B | €5,448 | €13,793 | +€8,346 | +153% |
| Recurring financial charges | 65 | €5,448 | €13,793 | +€8,346 | +153% |
| Non-recurring financial charges | 66B | - | €0 | = | |
| Profit (loss) for the period before taxes | 9903 | -€8,169 | €11,186 | +€19,355 | |
| Income taxes | 67/77 | - | €1,361 | +€1,361 | |
| Profit (loss) for the period | 9904 | -€8,169 | €9,825 | +€17,994 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,169 | €9,825 | +€17,994 |
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 21 October 2026 via checked.be.