Bart D'hondt: 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 D'hondt
Largest movements
- Receivables within one year +€18,743
up €18,743 (+81.6%), from €22,978 to €41,721
of which Trade receivables: +€18,337
- Cash -€12,207
down €12,207 (-8.2%), from €148,798 to €136,591
mainly Receivables within one year (-€18,743) and Contributions, distributions and other (-€17,088)
- Tangible fixed assets -€5,213
down €5,213 (-49.7%), from €10,498 to €5,285
- Reserves +€8,638
up €8,638 (+4.8%), from €179,327 to €187,965
- Tax, wage and social debts -€7,109
down €7,109 (-51.1%), from €13,916 to €6,806
- Financial income +€1,291
up €1,291 (+55.9%), from €2,311 to €3,601
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 | €196,842 | €200,139 | +€3,297 | +1.7% |
| Fixed assets | 21/28 | €10,498 | €5,285 | -€5,213 | -49.7% |
| Tangible fixed assets | 22/27 | €10,498 | €5,285 | -€5,213 | -49.7% |
| Furniture and vehicles | 24 | €10,498 | €5,285 | -€5,213 | -49.7% |
| Current assets | 29/58 | €186,344 | €194,854 | +€8,510 | +4.6% |
| Stocks and contracts in progress | 3 | €13,426 | €14,993 | +€1,567 | +11.7% |
| Stocks | 30/36 | €12,976 | €14,993 | +€2,017 | +15.5% |
| Contracts in progress | 37 | €450 | €0 | -€450 | -100% |
| Amounts receivable within one year | 40/41 | €22,978 | €41,721 | +€18,743 | +81.6% |
| Trade receivables | 40 | €22,408 | €40,745 | +€18,337 | +81.8% |
| Other amounts receivable | 41 | €569 | €976 | +€407 | +71.4% |
| Cash at bank and in hand | 54/58 | €148,798 | €136,591 | -€12,207 | -8.2% |
| Deferred charges and accrued income | 490/1 | €1,142 | €1,549 | +€406 | +35.6% |
| Total equity and liabilities | 10/49 | €196,842 | €200,139 | +€3,297 | +1.7% |
| Equity | 10/15 | €179,327 | €187,965 | +€8,638 | +4.8% |
| Contributions | 10/11 | €0 | - | = | |
| Reserves | 13 | €179,327 | €187,965 | +€8,638 | +4.8% |
| Distributable reserves | 133 | €179,327 | €187,965 | +€8,638 | +4.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €17,515 | €12,174 | -€5,341 | -30.5% |
| Amounts payable within one year | 42/48 | €17,515 | €12,174 | -€5,341 | -30.5% |
| Trade debts | 44 | €2,741 | €4,535 | +€1,794 | +65.5% |
| Suppliers | 440/4 | €2,741 | €4,535 | +€1,794 | +65.5% |
| Taxes, remuneration and social security | 45 | €13,916 | €6,806 | -€7,109 | -51.1% |
| Taxes | 450/3 | €13,916 | €6,806 | -€7,109 | -51.1% |
| Other amounts payable | 47/48 | €859 | €833 | -€26 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,213 | €5,213 | = | 0.0% |
| Other operating charges | 640/8 | €951 | €840 | -€111 | -11.7% |
| Gross operating margin | 9900 | €41,040 | €40,952 | -€87 | -0.2% |
| Operating profit (loss) | 9901 | €34,876 | €34,899 | +€24 | +0.1% |
| Financial income | 75/76B | €2,311 | €3,601 | +€1,291 | +55.9% |
| Recurring financial income | 75 | €2,311 | €3,601 | +€1,291 | +55.9% |
| Financial charges | 65/66B | €107 | €151 | +€44 | +40.7% |
| Recurring financial charges | 65 | €107 | €151 | +€44 | +40.7% |
| Profit (loss) for the period before taxes | 9903 | €37,080 | €38,350 | +€1,271 | +3.4% |
| Income taxes | 67/77 | €12,664 | €12,624 | -€40 | -0.3% |
| Profit (loss) for the period | 9904 | €24,416 | €25,726 | +€1,311 | +5.4% |
| Profit (loss) for the period to be appropriated | 9905 | €24,416 | €25,726 | +€1,311 | +5.4% |
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 28 October 2026 via checked.be.