BART BRONDERS: 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 BRONDERS
Largest movements
- Cash -€186,055
down €186,055 (-76.3%), from €243,726 to €57,671
mainly Investment in fixed assets (net) (-€139,694) and Net result for the year (-€34,137)
- Tangible fixed assets +€109,276
up €109,276 (+16.1%), from €678,214 to €787,490
of which Land and buildings: +€114,200
- Receivables within one year -€39,843
down €39,843 (-87.1%), from €45,737 to €5,894
of which Trade receivables: -€29,760
- Other debts -€33,415
down €33,415 (-38.8%), from €86,217 to €52,802
- Profit (loss) carried forward -€33,000
down €33,000 (-8.2%), from €400,755 to €367,755
- Reserves -€31,027
down €31,027 (-11.8%), from €262,823 to €231,796
of which Distributable reserves: -€26,677
- Debts after one year -€21,725
down €21,725 (-15.5%), from €140,078 to €118,353
- Gross operating margin -€103,155
down €103,155 (-96.4%), from €106,999 to €3,844
- Taxes -€27,471
down €27,471 (-99.0%), from €27,758 to €287
- Financial income -€8,109
down €8,109 (-87.4%), from €9,277 to €1,168
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 | €967,677 | €851,055 | -€116,622 | -12.1% |
| Fixed assets | 21/28 | €678,214 | €787,490 | +€109,276 | +16.1% |
| Tangible fixed assets | 22/27 | €678,214 | €787,490 | +€109,276 | +16.1% |
| Land and buildings | 22 | €665,353 | €779,553 | +€114,200 | +17.2% |
| Plant, machinery and equipment | 23 | €3,090 | €1,310 | -€1,780 | -57.6% |
| Furniture and vehicles | 24 | €9,770 | €6,626 | -€3,144 | -32.2% |
| Current assets | 29/58 | €289,464 | €63,565 | -€225,898 | -78.0% |
| Amounts receivable within one year | 40/41 | €45,737 | €5,894 | -€39,843 | -87.1% |
| Trade receivables | 40 | €29,760 | €0 | -€29,760 | -100.0% |
| Other amounts receivable | 41 | €15,977 | €5,894 | -€10,083 | -63.1% |
| Cash at bank and in hand | 54/58 | €243,726 | €57,671 | -€186,055 | -76.3% |
| Total equity and liabilities | 10/49 | €967,677 | €851,055 | -€116,622 | -12.1% |
| Equity | 10/15 | €682,169 | €618,142 | -€64,027 | -9.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €262,823 | €231,796 | -€31,027 | -11.8% |
| Tax-exempt reserves | 132 | €13,379 | €9,030 | -€4,350 | -32.5% |
| Distributable reserves | 133 | €249,443 | €222,766 | -€26,677 | -10.7% |
| Profit (loss) carried forward | 14 | €400,755 | €367,755 | -€33,000 | -8.2% |
| Provisions and deferred taxes | 16 | €2,504 | €2,220 | -€284 | -11.4% |
| Deferred taxes | 168 | €2,504 | €2,220 | -€284 | -11.4% |
| Amounts payable | 17/49 | €283,004 | €230,693 | -€52,311 | -18.5% |
| Amounts payable after more than one year | 17 | €140,078 | €118,353 | -€21,725 | -15.5% |
| Financial debts | 170/4 | €140,078 | €118,353 | -€21,725 | -15.5% |
| Amounts payable within one year | 42/48 | €142,926 | €112,339 | -€30,586 | -21.4% |
| Current portion of amounts payable after more than one year | 42 | €32,857 | €33,225 | +€368 | +1.1% |
| Trade debts | 44 | €16,690 | €16,384 | -€307 | -1.8% |
| Suppliers | 440/4 | €16,690 | €16,384 | -€307 | -1.8% |
| Taxes, remuneration and social security | 45 | €7,162 | €9,929 | +€2,767 | +38.6% |
| Taxes | 450/3 | €7,162 | €9,929 | +€2,767 | +38.6% |
| Other amounts payable | 47/48 | €86,217 | €52,802 | -€33,415 | -38.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,970 | €30,417 | -€553 | -1.8% |
| Other operating charges | 640/8 | €4,805 | €5,743 | +€937 | +19.5% |
| Gross operating margin | 9900 | €106,999 | €3,844 | -€103,155 | -96.4% |
| Operating profit (loss) | 9901 | €71,224 | -€32,316 | -€103,540 | |
| Financial income | 75/76B | €9,277 | €1,168 | -€8,109 | -87.4% |
| Recurring financial income | 75 | €9,277 | €1,168 | -€8,109 | -87.4% |
| Financial charges | 65/66B | €3,859 | €2,986 | -€873 | -22.6% |
| Recurring financial charges | 65 | €3,859 | €2,986 | -€873 | -22.6% |
| Profit (loss) for the period before taxes | 9903 | €76,641 | -€34,134 | -€110,776 | |
| Transfer from deferred taxes | 780 | €284 | €284 | = | 0.0% |
| Income taxes | 67/77 | €27,758 | €287 | -€27,471 | -99.0% |
| Profit (loss) for the period | 9904 | €49,167 | -€34,137 | -€83,305 | |
| Transfer from tax-exempt reserves | 789 | €1,138 | €1,138 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €50,305 | -€33,000 | -€83,305 |
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 7 October 2026 via checked.be.