BART DE WOLF: 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 DE WOLF
Largest movements
- Tangible fixed assets -€6,199
down €6,199 (-71.3%), from €8,693 to €2,495
- Receivables within one year -€1,856
down €1,856 (-61.8%), from €3,002 to €1,146
of which Trade receivables: -€2,055
- Deferred charges and accrued income -€141
down €141 (-34.1%), from €414 to €273
- Short-term financial debts -€16,353
down €16,353 (-69.7%), from €23,462 to €7,109
- Profit (loss) carried forward +€14,827
up €14,827 (+42.2%), from -€35,142 to -€20,316
- Current portion of long-term debt -€4,295
down €4,295 (-77.2%), from €5,562 to €1,267
- Trade debts -€3,431
down €3,431 (-78.2%), from €4,388 to €957
- Other debts +€1,847
up €1,847 (+6308.7%), from €29 to €1,876
- Gross operating margin +€20,012
up €20,012 (+655.5%), from €3,053 to €23,065
- Financial charges -€1,848
down €1,848 (-50.1%), from €3,687 to €1,838
- Other operating charges -€1,090
down €1,090 (-84.4%), from €1,292 to €201
- Financial income -€303
no longer reported in 2025 (was €303)
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 | €12,281 | €4,084 | -€8,197 | -66.7% |
| Fixed assets | 21/28 | €8,693 | €2,495 | -€6,199 | -71.3% |
| Tangible fixed assets | 22/27 | €8,693 | €2,495 | -€6,199 | -71.3% |
| Furniture and vehicles | 24 | €8,693 | €2,495 | -€6,199 | -71.3% |
| Current assets | 29/58 | €3,587 | €1,589 | -€1,998 | -55.7% |
| Amounts receivable within one year | 40/41 | €3,002 | €1,146 | -€1,856 | -61.8% |
| Trade receivables | 40 | €2,055 | - | -€2,055 | |
| Other amounts receivable | 41 | €947 | €1,146 | +€199 | +21.0% |
| Cash at bank and in hand | 54/58 | €171 | €171 | -€1 | -0.3% |
| Deferred charges and accrued income | 490/1 | €414 | €273 | -€141 | -34.1% |
| Total equity and liabilities | 10/49 | €12,281 | €4,084 | -€8,197 | -66.7% |
| Equity | 10/15 | -€22,642 | -€7,816 | +€14,827 | +65.5% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Outside capital | 11 | €12,500 | €12,500 | = | 0.0% |
| Other | 1109/19 | €12,500 | €12,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€35,142 | -€20,316 | +€14,827 | +42.2% |
| Amounts payable | 17/49 | €34,923 | €11,900 | -€23,023 | -65.9% |
| Amounts payable after more than one year | 17 | €1,267 | - | -€1,267 | |
| Financial debts | 170/4 | €1,267 | - | -€1,267 | |
| Amounts payable within one year | 42/48 | €33,656 | €11,900 | -€21,756 | -64.6% |
| Current portion of amounts payable after more than one year | 42 | €5,562 | €1,267 | -€4,295 | -77.2% |
| Financial debts | 43 | €23,462 | €7,109 | -€16,353 | -69.7% |
| Credit institutions | 430/8 | €23,462 | €7,109 | -€16,353 | -69.7% |
| Trade debts | 44 | €4,388 | €957 | -€3,431 | -78.2% |
| Suppliers | 440/4 | €4,388 | €957 | -€3,431 | -78.2% |
| Taxes, remuneration and social security | 45 | €215 | €690 | +€475 | +221.6% |
| Taxes | 450/3 | €215 | €690 | +€475 | +221.6% |
| Other amounts payable | 47/48 | €29 | €1,876 | +€1,847 | +6308.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,199 | €6,199 | = | 0.0% |
| Other operating charges | 640/8 | €1,292 | €201 | -€1,090 | -84.4% |
| Gross operating margin | 9900 | €3,053 | €23,065 | +€20,012 | +655.5% |
| Operating profit (loss) | 9901 | -€4,438 | €16,665 | +€21,102 | |
| Financial income | 75/76B | €303 | - | -€303 | |
| Recurring financial income | 75 | €303 | - | -€303 | |
| Financial charges | 65/66B | €3,687 | €1,838 | -€1,848 | -50.1% |
| Recurring financial charges | 65 | €3,687 | €1,838 | -€1,848 | -50.1% |
| Profit (loss) for the period before taxes | 9903 | -€7,821 | €14,827 | +€22,647 | |
| Profit (loss) for the period | 9904 | -€7,821 | €14,827 | +€22,647 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,821 | €14,827 | +€22,647 |
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 1 October 2026 via checked.be.