Bart De Wit: 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 Wit
Largest movements
- Tangible fixed assets -€41,368
down €41,368 (-77.5%), from €53,404 to €12,036
- Receivables within one year +€22,735
up €22,735 (+26.9%), from €84,561 to €107,296
of which Trade receivables: +€18,000
- Cash -€14,615
down €14,615 (-30.7%), from €47,669 to €33,054
mainly Contributions, distributions and other (-€57,500) and Debts after one year (-€50,000)
- Receivables after one year +€11,875
new in 2025: €11,875
- Debts after one year -€50,000
down €50,000 (-20.0%), from €250,000 to €200,000
- Other debts +€47,516
up €47,516 (+476%), from €9,984 to €57,500
- Current portion of long-term debt -€28,341
down €28,341 (-82.4%), from €34,415 to €6,074
- Profit (loss) carried forward +€17,240
up €17,240 (+3.4%), from €505,616 to €522,856
- Financial income -€99,950
down €99,950 (-83.3%), from €120,007 to €20,057
- Gross operating margin +€4,517
up €4,517 (+4.9%), from €92,878 to €97,395
- Financial charges -€2,169
down €2,169 (-59.1%), from €3,672 to €1,503
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 | €865,690 | €844,559 | -€21,131 | -2.4% |
| Fixed assets | 21/28 | €728,983 | €687,615 | -€41,368 | -5.7% |
| Tangible fixed assets | 22/27 | €53,404 | €12,036 | -€41,368 | -77.5% |
| Furniture and vehicles | 24 | €53,404 | €12,036 | -€41,368 | -77.5% |
| Financial fixed assets | 28 | €675,579 | €675,579 | = | 0.0% |
| Current assets | 29/58 | €136,707 | €156,944 | +€20,237 | +14.8% |
| Amounts receivable after more than one year | 29 | - | €11,875 | +€11,875 | |
| Other amounts receivable | 291 | - | €11,875 | +€11,875 | |
| Amounts receivable within one year | 40/41 | €84,561 | €107,296 | +€22,735 | +26.9% |
| Trade receivables | 40 | - | €18,000 | +€18,000 | |
| Other amounts receivable | 41 | €84,561 | €89,296 | +€4,735 | +5.6% |
| Cash at bank and in hand | 54/58 | €47,669 | €33,054 | -€14,615 | -30.7% |
| Deferred charges and accrued income | 490/1 | €4,477 | €4,719 | +€242 | +5.4% |
| Total equity and liabilities | 10/49 | €865,690 | €844,559 | -€21,131 | -2.4% |
| Equity | 10/15 | €555,616 | €572,856 | +€17,240 | +3.1% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €505,616 | €522,856 | +€17,240 | +3.4% |
| Amounts payable | 17/49 | €310,074 | €271,703 | -€38,371 | -12.4% |
| Amounts payable after more than one year | 17 | €250,000 | €200,000 | -€50,000 | -20.0% |
| Financial debts | 170/4 | €250,000 | €200,000 | -€50,000 | -20.0% |
| Amounts payable within one year | 42/48 | €60,074 | €71,703 | +€11,629 | +19.4% |
| Current portion of amounts payable after more than one year | 42 | €34,415 | €6,074 | -€28,341 | -82.4% |
| Trade debts | 44 | €2,983 | €2,387 | -€596 | -20.0% |
| Suppliers | 440/4 | €2,983 | €2,387 | -€596 | -20.0% |
| Taxes, remuneration and social security | 45 | €12,692 | €5,742 | -€6,950 | -54.8% |
| Taxes | 450/3 | €12,692 | €5,742 | -€6,950 | -54.8% |
| Other amounts payable | 47/48 | €9,984 | €57,500 | +€47,516 | +476% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,853 | €13,562 | +€709 | +5.5% |
| Other operating charges | 640/8 | €888 | €256 | -€632 | -71.2% |
| Gross operating margin | 9900 | €92,878 | €97,395 | +€4,517 | +4.9% |
| Operating profit (loss) | 9901 | €79,137 | €83,577 | +€4,440 | +5.6% |
| Financial income | 75/76B | €120,007 | €20,057 | -€99,950 | -83.3% |
| Recurring financial income | 75 | €120,007 | €20,057 | -€99,950 | -83.3% |
| Financial charges | 65/66B | €3,672 | €1,503 | -€2,169 | -59.1% |
| Recurring financial charges | 65 | €3,672 | €1,503 | -€2,169 | -59.1% |
| Profit (loss) for the period before taxes | 9903 | €195,472 | €102,131 | -€93,341 | -47.8% |
| Income taxes | 67/77 | €26,738 | €27,391 | +€653 | +2.4% |
| Profit (loss) for the period | 9904 | €168,734 | €74,740 | -€93,994 | -55.7% |
| Profit (loss) for the period to be appropriated | 9905 | €168,734 | €74,740 | -€93,994 | -55.7% |
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 30 October 2026 via checked.be.