Bart Bikes: 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.
Bart Bikes
Largest movements
- Stocks and contracts -€57,208
down €57,208 (-22.6%), from €253,270 to €196,061
- Tangible fixed assets +€42,231
up €42,231 (+553.7%), from €7,628 to €49,859
of which Leasing and similar rights: +€23,107
- Deferred charges and accrued income +€6,557
up €6,557 (+290.5%), from €2,257 to €8,814
- Cash -€4,950
down €4,950 (-43.5%), from €11,379 to €6,429
mainly Short-term financial debts (-€50,000) and Investment in fixed assets (net) (-€48,291)
- Short-term financial debts -€50,000
down €50,000 (-66.7%), from €75,000 to €25,000
- Trade debts +€46,383
up €46,383 (+20.6%), from €225,044 to €271,427
- Profit (loss) carried forward -€36,880
down €36,880 (-241.7%), from -€15,257 to -€52,136
- Debts after one year +€15,779
new in 2025: €15,779
- Tax, wage and social debts +€9,859
up €9,859 (+49.8%), from €19,789 to €29,648
of which Taxes: +€7,805
- Gross operating margin -€62,999
down €62,999 (-64.7%), from €97,349 to €34,351
- Staff costs -€39,145
down €39,145 (-38.8%), from €100,925 to €61,780
- Depreciation -€2,320
down €2,320 (-26.3%), from €8,828 to €6,508
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 | €309,576 | €298,689 | -€10,887 | -3.5% |
| Fixed assets | 21/28 | €8,442 | €50,225 | +€41,783 | +495.0% |
| Intangible fixed assets | 21 | €814 | €365 | -€448 | -55.1% |
| Tangible fixed assets | 22/27 | €7,628 | €49,859 | +€42,231 | +553.7% |
| Land and buildings | 22 | €2,970 | €19,037 | +€16,067 | +541.0% |
| Plant, machinery and equipment | 23 | €3,805 | €4,594 | +€789 | +20.7% |
| Furniture and vehicles | 24 | €853 | €3,122 | +€2,269 | +265.9% |
| Leasing and similar rights | 25 | - | €23,107 | +€23,107 | |
| Current assets | 29/58 | €301,134 | €248,465 | -€52,670 | -17.5% |
| Stocks and contracts in progress | 3 | €253,270 | €196,061 | -€57,208 | -22.6% |
| Stocks | 30/36 | €253,270 | €196,061 | -€57,208 | -22.6% |
| Amounts receivable within one year | 40/41 | €34,229 | €37,161 | +€2,932 | +8.6% |
| Trade receivables | 40 | €19,229 | €36,638 | +€17,409 | +90.5% |
| Other amounts receivable | 41 | €15,000 | €523 | -€14,477 | -96.5% |
| Cash at bank and in hand | 54/58 | €11,379 | €6,429 | -€4,950 | -43.5% |
| Deferred charges and accrued income | 490/1 | €2,257 | €8,814 | +€6,557 | +290.5% |
| Total equity and liabilities | 10/49 | €309,576 | €298,689 | -€10,887 | -3.5% |
| Equity | 10/15 | -€10,257 | -€47,136 | -€36,880 | -359.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,257 | -€52,136 | -€36,880 | -241.7% |
| Amounts payable | 17/49 | €319,833 | €345,826 | +€25,993 | +8.1% |
| Amounts payable after more than one year | 17 | - | €15,779 | +€15,779 | |
| Financial debts | 170/4 | - | €15,779 | +€15,779 | |
| Amounts payable within one year | 42/48 | €319,833 | €330,047 | +€10,214 | +3.2% |
| Current portion of amounts payable after more than one year | 42 | - | €3,972 | +€3,972 | |
| Financial debts | 43 | €75,000 | €25,000 | -€50,000 | -66.7% |
| Credit institutions | 430/8 | €75,000 | €25,000 | -€50,000 | -66.7% |
| Trade debts | 44 | €225,044 | €271,427 | +€46,383 | +20.6% |
| Suppliers | 440/4 | €225,044 | €271,427 | +€46,383 | +20.6% |
| Taxes, remuneration and social security | 45 | €19,789 | €29,648 | +€9,859 | +49.8% |
| Taxes | 450/3 | €10,743 | €18,548 | +€7,805 | +72.7% |
| Remuneration and social security | 454/9 | €9,046 | €11,100 | +€2,054 | +22.7% |
| Remuneration, social security and pensions | 62 | €100,925 | €61,780 | -€39,145 | -38.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,828 | €6,508 | -€2,320 | -26.3% |
| Other operating charges | 640/8 | €1,013 | €593 | -€419 | -41.4% |
| Gross operating margin | 9900 | €97,349 | €34,351 | -€62,999 | -64.7% |
| Operating profit (loss) | 9901 | -€13,416 | -€34,530 | -€21,114 | -157.4% |
| Financial income | 75/76B | €1,949 | €1,712 | -€238 | -12.2% |
| Recurring financial income | 75 | €1,949 | €1,712 | -€238 | -12.2% |
| Financial charges | 65/66B | €3,790 | €4,061 | +€271 | +7.2% |
| Recurring financial charges | 65 | €3,790 | €4,061 | +€271 | +7.2% |
| Profit (loss) for the period before taxes | 9903 | -€15,257 | -€36,880 | -€21,623 | -141.7% |
| Profit (loss) for the period | 9904 | -€15,257 | -€36,880 | -€21,623 | -141.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,257 | -€36,880 | -€21,623 | -141.7% |
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 3 October 2026 via checked.be.