Bart Box: 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.
Bart Box
Largest movements
- Cash +€151,298
up €151,298 (+97.3%), from €155,565 to €306,863
mainly Other debts (+€217,959) and Receivables within one year (+€149,436)
- Receivables within one year -€149,436
down €149,436 (-62.7%), from €238,459 to €89,023
of which Other amounts receivable: -€145,913
- Stocks and contracts +€36,190
up €36,190 (+4.5%), from €806,550 to €842,739
- Tangible fixed assets -€24,774
down €24,774 (-23.7%), from €104,315 to €79,542
of which Plant, machinery and equipment: -€12,855
- Other debts +€217,959
up €217,959 (+676%), from €32,254 to €250,214
- Reserves -€123,737
down €123,737 (-32.4%), from €382,027 to €258,289
- Trade debts -€63,856
down €63,856 (-66.4%), from €96,117 to €32,261
- Tax, wage and social debts +€44,333
up €44,333 (+379%), from €11,708 to €56,041
of which Taxes: +€34,744
- Debts after one year -€24,565
down €24,565 (-18.3%), from €134,242 to €109,677
- Gross operating margin +€34,416
up €34,416 (+17.7%), from €194,386 to €228,802
- Taxes +€15,963
up €15,963 (+148%), from €10,804 to €26,768
- Staff costs +€13,262
up €13,262 (+17.6%), from €75,267 to €88,528
- Depreciation -€10,007
down €10,007 (-22.8%), from €43,930 to €33,924
- Financial charges +€4,120
up €4,120 (+15.7%), from €26,238 to €30,357
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 | €1,311,157 | €1,334,047 | +€22,889 | +1.7% |
| Fixed assets | 21/28 | €104,315 | €79,542 | -€24,774 | -23.7% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €104,315 | €79,542 | -€24,774 | -23.7% |
| Plant, machinery and equipment | 23 | €70,037 | €57,181 | -€12,855 | -18.4% |
| Furniture and vehicles | 24 | €5,299 | €3,754 | -€1,546 | -29.2% |
| Leasing and similar rights | 25 | €28,979 | €18,607 | -€10,373 | -35.8% |
| Current assets | 29/58 | €1,206,842 | €1,254,505 | +€47,663 | +3.9% |
| Stocks and contracts in progress | 3 | €806,550 | €842,739 | +€36,190 | +4.5% |
| Stocks | 30/36 | €806,550 | €842,739 | +€36,190 | +4.5% |
| Amounts receivable within one year | 40/41 | €238,459 | €89,023 | -€149,436 | -62.7% |
| Trade receivables | 40 | €5,000 | €1,477 | -€3,523 | -70.5% |
| Other amounts receivable | 41 | €233,459 | €87,546 | -€145,913 | -62.5% |
| Current investments | 50/53 | - | €1,000 | +€1,000 | |
| Cash at bank and in hand | 54/58 | €155,565 | €306,863 | +€151,298 | +97.3% |
| Deferred charges and accrued income | 490/1 | €6,268 | €14,880 | +€8,611 | +137% |
| Total equity and liabilities | 10/49 | €1,311,157 | €1,334,047 | +€22,889 | +1.7% |
| Equity | 10/15 | €385,027 | €261,289 | -€123,737 | -32.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €382,027 | €258,289 | -€123,737 | -32.4% |
| Distributable reserves | 133 | €382,027 | €258,289 | -€123,737 | -32.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €926,131 | €1,072,758 | +€146,627 | +15.8% |
| Amounts payable after more than one year | 17 | €134,242 | €109,677 | -€24,565 | -18.3% |
| Financial debts | 170/4 | €134,242 | €109,677 | -€24,565 | -18.3% |
| Amounts payable within one year | 42/48 | €791,889 | €963,081 | +€171,191 | +21.6% |
| Current portion of amounts payable after more than one year | 42 | €23,717 | €24,565 | +€848 | +3.6% |
| Financial debts | 43 | €620,000 | €600,000 | -€20,000 | -3.2% |
| Credit institutions | 430/8 | €620,000 | €600,000 | -€20,000 | -3.2% |
| Trade debts | 44 | €96,117 | €32,261 | -€63,856 | -66.4% |
| Suppliers | 440/4 | €96,117 | €32,261 | -€63,856 | -66.4% |
| Advances received on contracts in progress | 46 | €8,093 | €0 | -€8,093 | -100% |
| Taxes, remuneration and social security | 45 | €11,708 | €56,041 | +€44,333 | +379% |
| Taxes | 450/3 | €8,157 | €42,901 | +€34,744 | +426% |
| Remuneration and social security | 454/9 | €3,551 | €13,141 | +€9,589 | +270% |
| Other amounts payable | 47/48 | €32,254 | €250,214 | +€217,959 | +676% |
| Non-recurring operating income | 76A | €0 | €237 | +€237 | |
| Remuneration, social security and pensions | 62 | €75,267 | €88,528 | +€13,262 | +17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,930 | €33,924 | -€10,007 | -22.8% |
| Other operating charges | 640/8 | €3,096 | €1,572 | -€1,524 | -49.2% |
| Gross operating margin | 9900 | €194,386 | €228,802 | +€34,416 | +17.7% |
| Operating profit (loss) | 9901 | €72,092 | €104,778 | +€32,686 | +45.3% |
| Financial income | 75/76B | €2,892 | €3,609 | +€718 | +24.8% |
| Recurring financial income | 75 | €2,892 | €3,609 | +€718 | +24.8% |
| Financial charges | 65/66B | €26,238 | €30,357 | +€4,120 | +15.7% |
| Recurring financial charges | 65 | €26,238 | €30,357 | +€4,120 | +15.7% |
| Profit (loss) for the period before taxes | 9903 | €48,746 | €78,030 | +€29,284 | +60.1% |
| Income taxes | 67/77 | €10,804 | €26,768 | +€15,963 | +148% |
| Profit (loss) for the period | 9904 | €37,942 | €51,263 | +€13,321 | +35.1% |
| Profit (loss) for the period to be appropriated | 9905 | €37,942 | €51,263 | +€13,321 | +35.1% |
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 14 October 2026 via checked.be.