Bart Debrabandere: 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 Debrabandere
Largest movements
- Tangible fixed assets -€15,130
down €15,130 (-9.9%), from €153,455 to €138,325
of which Furniture and vehicles: -€11,170
- Intangible fixed assets -€13,125
down €13,125 (-100%), from €13,125 to €0
- Receivables within one year +€12,460
up €12,460 (+67.9%), from €18,342 to €30,802
of which Trade receivables: +€12,567
- Cash -€8,807
down €8,807 (-96.2%), from €9,155 to €348
mainly Debts after one year (-€18,483) and Receivables within one year (-€12,460)
- Debts after one year -€18,483
down €18,483 (-17.6%), from €104,973 to €86,490
- Other debts -€6,442
down €6,442 (-17.5%), from €36,715 to €30,273
- Gross operating margin +€6,555
up €6,555 (+22.1%), from €29,724 to €36,279
- Taxes -€2,494
down €2,494 (-85.7%), from €2,911 to €417
- Depreciation -€1,877
down €1,877 (-6.0%), from €31,181 to €29,304
- Financial charges -€935
down €935 (-21.0%), from €4,457 to €3,522
- Other operating charges -€508
down €508 (-12.1%), from €4,183 to €3,675
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 | €205,888 | €180,589 | -€25,299 | -12.3% |
| Fixed assets | 21/28 | €166,715 | €138,460 | -€28,255 | -16.9% |
| Intangible fixed assets | 21 | €13,125 | €0 | -€13,125 | -100% |
| Tangible fixed assets | 22/27 | €153,455 | €138,325 | -€15,130 | -9.9% |
| Land and buildings | 22 | €113,956 | €109,388 | -€4,568 | -4.0% |
| Plant, machinery and equipment | 23 | €666 | €1,274 | +€608 | +91.3% |
| Furniture and vehicles | 24 | €38,833 | €27,663 | -€11,170 | -28.8% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €39,173 | €42,129 | +€2,956 | +7.5% |
| Stocks and contracts in progress | 3 | €8,290 | €8,290 | = | 0.0% |
| Stocks | 30/36 | €8,290 | €8,290 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €18,342 | €30,802 | +€12,460 | +67.9% |
| Trade receivables | 40 | €17,310 | €29,877 | +€12,567 | +72.6% |
| Other amounts receivable | 41 | €1,033 | €926 | -€107 | -10.4% |
| Cash at bank and in hand | 54/58 | €9,155 | €348 | -€8,807 | -96.2% |
| Deferred charges and accrued income | 490/1 | €3,386 | €2,689 | -€697 | -20.6% |
| Total equity and liabilities | 10/49 | €205,888 | €180,589 | -€25,299 | -12.3% |
| Equity | 10/15 | €9,583 | €8,946 | -€637 | -6.6% |
| Contributions | 10/11 | €13,000 | €13,000 | = | 0.0% |
| Reserves | 13 | €9,308 | €9,308 | = | 0.0% |
| Distributable reserves | 133 | €9,308 | €9,308 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,725 | -€13,362 | -€637 | -5.0% |
| Amounts payable | 17/49 | €196,305 | €171,643 | -€24,662 | -12.6% |
| Amounts payable after more than one year | 17 | €104,973 | €86,490 | -€18,483 | -17.6% |
| Financial debts | 170/4 | €104,973 | €86,490 | -€18,483 | -17.6% |
| Amounts payable within one year | 42/48 | €90,696 | €85,153 | -€5,543 | -6.1% |
| Current portion of amounts payable after more than one year | 42 | €17,811 | €18,483 | +€672 | +3.8% |
| Trade debts | 44 | €33,955 | €33,672 | -€282 | -0.8% |
| Suppliers | 440/4 | €33,955 | €33,672 | -€282 | -0.8% |
| Taxes, remuneration and social security | 45 | €2,215 | €2,725 | +€510 | +23.0% |
| Taxes | 450/3 | €2,215 | €2,725 | +€510 | +23.0% |
| Other amounts payable | 47/48 | €36,715 | €30,273 | -€6,442 | -17.5% |
| Accrued charges and deferred income | 492/3 | €636 | €0 | -€636 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,181 | €29,304 | -€1,877 | -6.0% |
| Other operating charges | 640/8 | €4,183 | €3,675 | -€508 | -12.1% |
| Gross operating margin | 9900 | €29,724 | €36,279 | +€6,555 | +22.1% |
| Operating profit (loss) | 9901 | -€5,640 | €3,300 | +€8,940 | |
| Financial income | 75/76B | €282 | €1 | -€281 | -99.7% |
| Recurring financial income | 75 | €282 | €1 | -€281 | -99.7% |
| Financial charges | 65/66B | €4,457 | €3,522 | -€935 | -21.0% |
| Recurring financial charges | 65 | €4,457 | €3,522 | -€935 | -21.0% |
| Profit (loss) for the period before taxes | 9903 | -€9,815 | -€221 | +€9,594 | +97.8% |
| Income taxes | 67/77 | €2,911 | €417 | -€2,494 | -85.7% |
| Profit (loss) for the period | 9904 | -€12,725 | -€637 | +€12,088 | +95.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,725 | -€637 | +€12,088 | +95.0% |
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 18 October 2026 via checked.be.