Bart Colpaert: 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 Colpaert
Largest movements
- Receivables within one year +€23,328
up €23,328 (+578.5%), from €4,033 to €27,361
of which Other amounts receivable: +€20,467
- Deferred charges and accrued income -€3,750
down €3,750 (-60.2%), from €6,232 to €2,482
- Cash +€1,070
up €1,070 (+3.1%), from €34,318 to €35,387
mainly Net result for the year (+€24,438) and Other debts (+€8,457)
- Profit (loss) carried forward +€12,438
new in 2025: €12,438
- Other debts +€8,457
up €8,457 (+594.3%), from €1,423 to €9,880
- Trade debts -€2,831
down €2,831 (-79.4%), from €3,565 to €734
- Tax, wage and social debts +€2,084
up €2,084 (+25.1%), from €8,306 to €10,391
- Gross operating margin +€7,365
up €7,365 (+23.7%), from €31,094 to €38,459
- Taxes +€821
up €821 (+10.9%), from €7,531 to €8,351
- Financial income +€507
new in 2025: €507
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 | €46,584 | €66,777 | +€20,193 | +43.3% |
| Fixed assets | 21/28 | €2,001 | €1,547 | -€454 | -22.7% |
| Tangible fixed assets | 22/27 | €2,001 | €1,547 | -€454 | -22.7% |
| Plant, machinery and equipment | 23 | €2,001 | €1,547 | -€454 | -22.7% |
| Current assets | 29/58 | €44,583 | €65,230 | +€20,647 | +46.3% |
| Amounts receivable within one year | 40/41 | €4,033 | €27,361 | +€23,328 | +578.5% |
| Trade receivables | 40 | - | €2,861 | +€2,861 | |
| Other amounts receivable | 41 | €4,033 | €24,500 | +€20,467 | +507.6% |
| Cash at bank and in hand | 54/58 | €34,318 | €35,387 | +€1,070 | +3.1% |
| Deferred charges and accrued income | 490/1 | €6,232 | €2,482 | -€3,750 | -60.2% |
| Total equity and liabilities | 10/49 | €46,584 | €66,777 | +€20,193 | +43.3% |
| Equity | 10/15 | €30,635 | €43,073 | +€12,438 | +40.6% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €15,635 | €15,635 | = | 0.0% |
| Distributable reserves | 133 | €15,635 | €15,635 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €12,438 | +€12,438 | |
| Amounts payable | 17/49 | €15,949 | €23,704 | +€7,755 | +48.6% |
| Amounts payable within one year | 42/48 | €13,294 | €21,004 | +€7,710 | +58.0% |
| Trade debts | 44 | €3,565 | €734 | -€2,831 | -79.4% |
| Suppliers | 440/4 | €3,565 | €734 | -€2,831 | -79.4% |
| Taxes, remuneration and social security | 45 | €8,306 | €10,391 | +€2,084 | +25.1% |
| Taxes | 450/3 | €8,306 | €10,391 | +€2,084 | +25.1% |
| Other amounts payable | 47/48 | €1,423 | €9,880 | +€8,457 | +594.3% |
| Accrued charges and deferred income | 492/3 | €2,655 | €2,700 | +€45 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €268 | €454 | +€185 | +69.1% |
| Other operating charges | 640/8 | €797 | €624 | -€173 | -21.7% |
| Gross operating margin | 9900 | €31,094 | €38,459 | +€7,365 | +23.7% |
| Operating profit (loss) | 9901 | €30,028 | €37,380 | +€7,352 | +24.5% |
| Financial income | 75/76B | - | €507 | +€507 | |
| Recurring financial income | 75 | - | €507 | +€507 | |
| Financial charges | 65/66B | €5,197 | €5,098 | -€99 | -1.9% |
| Recurring financial charges | 65 | €5,197 | €5,098 | -€99 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | €24,832 | €32,790 | +€7,958 | +32.0% |
| Income taxes | 67/77 | €7,531 | €8,351 | +€821 | +10.9% |
| Profit (loss) for the period | 9904 | €17,301 | €24,438 | +€7,138 | +41.3% |
| Profit (loss) for the period to be appropriated | 9905 | €17,301 | €24,438 | +€7,138 | +41.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.