Bart Callaerts: 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 Callaerts
Largest movements
- Receivables within one year +€4,780
up €4,780 (+54.3%), from €8,795 to €13,575
of which Other amounts receivable: +€6,040
- Cash -€4,266
down €4,266 (-51.8%), from €8,237 to €3,970
mainly Receivables within one year (-€4,780) and Tax, wage and social debts (-€2,919)
- Reserves +€12,475
new in 2025: €12,475
- Profit (loss) carried forward -€8,172
no longer reported in 2025 (was €8,172)
- Tax, wage and social debts -€2,919
down €2,919 (-56.8%), from €5,136 to €2,216
- Trade debts -€856
down €856 (-69.9%), from €1,225 to €369
- Gross operating margin -€4,668
down €4,668 (-45.4%), from €10,278 to €5,610
- Taxes -€1,127
down €1,127 (-47.8%), from €2,357 to €1,231
- Financial income -€289
down €289 (-99.6%), from €290 to €1
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 | €17,032 | €17,560 | +€528 | +3.1% |
| Current assets | 29/58 | €17,032 | €17,560 | +€528 | +3.1% |
| Amounts receivable within one year | 40/41 | €8,795 | €13,575 | +€4,780 | +54.3% |
| Trade receivables | 40 | €1,260 | - | -€1,260 | |
| Other amounts receivable | 41 | €7,535 | €13,575 | +€6,040 | +80.2% |
| Cash at bank and in hand | 54/58 | €8,237 | €3,970 | -€4,266 | -51.8% |
| Deferred charges and accrued income | 490/1 | - | €15 | +€15 | |
| Total equity and liabilities | 10/49 | €17,032 | €17,560 | +€528 | +3.1% |
| Equity | 10/15 | €10,672 | €14,975 | +€4,303 | +40.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | - | €12,475 | +€12,475 | |
| Distributable reserves | 133 | - | €12,475 | +€12,475 | |
| Profit (loss) carried forward | 14 | €8,172 | - | -€8,172 | |
| Amounts payable | 17/49 | €6,360 | €2,585 | -€3,775 | -59.4% |
| Amounts payable within one year | 42/48 | €6,360 | €2,585 | -€3,775 | -59.4% |
| Trade debts | 44 | €1,225 | €369 | -€856 | -69.9% |
| Suppliers | 440/4 | €1,225 | €369 | -€856 | -69.9% |
| Taxes, remuneration and social security | 45 | €5,136 | €2,216 | -€2,919 | -56.8% |
| Taxes | 450/3 | €5,136 | €2,216 | -€2,919 | -56.8% |
| Gross operating margin | 9900 | €10,278 | €5,610 | -€4,668 | -45.4% |
| Operating profit (loss) | 9901 | €10,278 | €5,610 | -€4,668 | -45.4% |
| Financial income | 75/76B | €290 | €1 | -€289 | -99.6% |
| Recurring financial income | 75 | €290 | €1 | -€289 | -99.6% |
| Financial charges | 65/66B | €40 | €77 | +€37 | +93.3% |
| Recurring financial charges | 65 | €40 | €77 | +€37 | +93.3% |
| Profit (loss) for the period before taxes | 9903 | €10,529 | €5,534 | -€4,995 | -47.4% |
| Income taxes | 67/77 | €2,357 | €1,231 | -€1,127 | -47.8% |
| Profit (loss) for the period | 9904 | €8,172 | €4,303 | -€3,868 | -47.3% |
| Profit (loss) for the period to be appropriated | 9905 | €8,172 | €4,303 | -€3,868 | -47.3% |
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 4 October 2026 via checked.be.