BART DE BUYSER: 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 DE BUYSER
Largest movements
- Cash +€232,201
up €232,201 (+652%), from €35,614 to €267,816
mainly Other debts (+€201,971) and Stocks and contracts (+€190,864)
- Stocks and contracts -€190,864
down €190,864 (-99.8%), from €191,218 to €354
- Other debts +€201,971
up €201,971 (+1,161%), from €17,397 to €219,367
- Reserves -€94,311
down €94,311 (-94.3%), from €100,000 to €5,689
of which Distributable reserves: -€94,311
- Profit (loss) carried forward -€65,122
no longer reported in 2025 (was €65,122)
- Gross operating margin -€44,006
down €44,006, from €3,125 to -€40,881
- Financial income +€30,220
up €30,220 (+57.1%), from €52,961 to €83,180
of which Financial income: +€30,220
- Taxes -€5,016
down €5,016 (-35.3%), from €14,227 to €9,211
- Depreciation +€2,610
up €2,610 (+264%), from €988 to €3,597
- Financial charges -€1,997
down €1,997 (-61.4%), from €3,253 to €1,257
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 | €236,638 | €276,292 | +€39,654 | +16.8% |
| Fixed assets | 21/28 | €9,805 | €7,307 | -€2,497 | -25.5% |
| Tangible fixed assets | 22/27 | €9,805 | €7,307 | -€2,497 | -25.5% |
| Furniture and vehicles | 24 | €9,805 | €7,307 | -€2,497 | -25.5% |
| Current assets | 29/58 | €226,833 | €268,984 | +€42,152 | +18.6% |
| Stocks and contracts in progress | 3 | €191,218 | €354 | -€190,864 | -99.8% |
| Stocks | 30/36 | €191,218 | €354 | -€190,864 | -99.8% |
| Amounts receivable within one year | 40/41 | €0 | €814 | +€814 | |
| Trade receivables | 40 | - | €64 | +€64 | |
| Other amounts receivable | 41 | €0 | €750 | +€750 | |
| Cash at bank and in hand | 54/58 | €35,614 | €267,816 | +€232,201 | +652% |
| Total equity and liabilities | 10/49 | €236,638 | €276,292 | +€39,654 | +16.8% |
| Equity | 10/15 | €215,122 | €55,689 | -€159,433 | -74.1% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €100,000 | €5,689 | -€94,311 | -94.3% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €95,000 | €689 | -€94,311 | -99.3% |
| Profit (loss) carried forward | 14 | €65,122 | - | -€65,122 | |
| Amounts payable | 17/49 | €21,516 | €220,603 | +€199,087 | +925% |
| Amounts payable within one year | 42/48 | €21,516 | €219,457 | +€197,942 | +920% |
| Financial debts | 43 | €1,667 | - | -€1,667 | |
| Credit institutions | 430/8 | €1,667 | - | -€1,667 | |
| Trade debts | 44 | €38 | €90 | +€52 | +138% |
| Suppliers | 440/4 | €38 | €90 | +€52 | +138% |
| Taxes, remuneration and social security | 45 | €2,414 | - | -€2,414 | |
| Taxes | 450/3 | €2,414 | - | -€2,414 | |
| Other amounts payable | 47/48 | €17,397 | €219,367 | +€201,971 | +1,161% |
| Accrued charges and deferred income | 492/3 | - | €1,146 | +€1,146 | |
| Non-recurring operating income | 76A | €4,500 | €0 | -€4,500 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €988 | €3,597 | +€2,610 | +264% |
| Other operating charges | 640/8 | €255 | €167 | -€88 | -34.7% |
| Gross operating margin | 9900 | €3,125 | -€40,881 | -€44,006 | |
| Operating profit (loss) | 9901 | €1,882 | -€44,646 | -€46,527 | |
| Financial income | 75/76B | €52,961 | €83,180 | +€30,220 | +57.1% |
| Recurring financial income | 75 | €52,961 | €83,180 | +€30,220 | +57.1% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €3,253 | €1,257 | -€1,997 | -61.4% |
| Recurring financial charges | 65 | €3,253 | €1,257 | -€1,997 | -61.4% |
| Profit (loss) for the period before taxes | 9903 | €51,589 | €37,278 | -€14,311 | -27.7% |
| Income taxes | 67/77 | €14,227 | €9,211 | -€5,016 | -35.3% |
| Profit (loss) for the period | 9904 | €37,362 | €28,067 | -€9,295 | -24.9% |
| Profit (loss) for the period to be appropriated | 9905 | €37,362 | €28,067 | -€9,295 | -24.9% |
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 23 October 2026 via checked.be.