BART DUMON: 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 DUMON
Largest movements
- Current investments +€1.3m
new in 2025: €1.3m
- Receivables within one year -€1.2m
down €1.2m (-87.9%), from €1.4m to €167,328
- Receivables after one year +€67,388
up €67,388 (+11.4%), from €590,389 to €657,776
- Financial fixed assets -€60,300
down €60,300 (-27.0%), from €223,104 to €162,804
- Cash +€45,783
up €45,783 (+41.6%), from €110,103 to €155,886
mainly Receivables within one year (+€1.2m) and Net result for the year (+€372,314)
- Reserves +€154,422
up €154,422 (+6.9%), from €2.2m to €2.4m
- Tax, wage and social debts -€79,060
down €79,060 (-60.7%), from €130,235 to €51,175
of which Taxes: -€79,060
- Gross operating margin -€143,720
down €143,720 (-21.3%), from €674,167 to €530,447
- Taxes -€52,842
down €52,842 (-23.2%), from €227,947 to €175,105
- Financial income -€30,762
down €30,762 (-40.3%), from €76,312 to €45,549
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 | €2,376,770 | €2,445,141 | +€68,371 | +2.9% |
| Fixed assets | 21/28 | €292,064 | €214,150 | -€77,914 | -26.7% |
| Tangible fixed assets | 22/27 | €68,961 | €51,347 | -€17,614 | -25.5% |
| Plant, machinery and equipment | 23 | €3,405 | €10,053 | +€6,648 | +195.3% |
| Furniture and vehicles | 24 | €62,192 | €39,020 | -€23,172 | -37.3% |
| Other tangible fixed assets | 26 | €3,364 | €2,273 | -€1,090 | -32.4% |
| Financial fixed assets | 28 | €223,104 | €162,804 | -€60,300 | -27.0% |
| Current assets | 29/58 | €2,084,706 | €2,230,991 | +€146,285 | +7.0% |
| Amounts receivable after more than one year | 29 | €590,389 | €657,776 | +€67,388 | +11.4% |
| Other amounts receivable | 291 | €590,389 | €657,776 | +€67,388 | +11.4% |
| Amounts receivable within one year | 40/41 | €1,379,214 | €167,328 | -€1.2m | -87.9% |
| Other amounts receivable | 41 | €1,379,214 | €167,328 | -€1.2m | -87.9% |
| Current investments | 50/53 | - | €1,250,000 | +€1.3m | |
| Cash at bank and in hand | 54/58 | €110,103 | €155,886 | +€45,783 | +41.6% |
| Deferred charges and accrued income | 490/1 | €5,000 | - | -€5,000 | |
| Total equity and liabilities | 10/49 | €2,376,770 | €2,445,141 | +€68,371 | +2.9% |
| Equity | 10/15 | €2,237,217 | €2,391,638 | +€154,422 | +6.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €2,224,817 | €2,379,238 | +€154,422 | +6.9% |
| Distributable reserves | 133 | €2,224,817 | €2,379,238 | +€154,422 | +6.9% |
| Amounts payable | 17/49 | €139,553 | €53,503 | -€86,051 | -61.7% |
| Amounts payable within one year | 42/48 | €139,553 | €53,503 | -€86,051 | -61.7% |
| Trade debts | 44 | €7,557 | €343 | -€7,214 | -95.5% |
| Suppliers | 440/4 | €7,557 | €343 | -€7,214 | -95.5% |
| Taxes, remuneration and social security | 45 | €130,235 | €51,175 | -€79,060 | -60.7% |
| Taxes | 450/3 | €126,599 | €47,539 | -€79,060 | -62.4% |
| Remuneration and social security | 454/9 | €3,636 | €3,636 | = | 0.0% |
| Other amounts payable | 47/48 | €1,762 | €1,985 | +€224 | +12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,022 | €27,255 | +€1,233 | +4.7% |
| Other operating charges | 640/8 | €390 | €129 | -€261 | -66.9% |
| Gross operating margin | 9900 | €674,167 | €530,447 | -€143,720 | -21.3% |
| Operating profit (loss) | 9901 | €647,755 | €503,063 | -€144,692 | -22.3% |
| Financial income | 75/76B | €76,312 | €45,549 | -€30,762 | -40.3% |
| Recurring financial income | 75 | €76,312 | €45,549 | -€30,762 | -40.3% |
| Financial charges | 65/66B | €1,185 | €1,193 | +€7 | +0.6% |
| Recurring financial charges | 65 | €1,185 | €989 | -€196 | -16.6% |
| Non-recurring financial charges | 66B | - | €204 | +€204 | |
| Profit (loss) for the period before taxes | 9903 | €722,882 | €547,420 | -€175,462 | -24.3% |
| Income taxes | 67/77 | €227,947 | €175,105 | -€52,842 | -23.2% |
| Profit (loss) for the period | 9904 | €494,934 | €372,314 | -€122,620 | -24.8% |
| Profit (loss) for the period to be appropriated | 9905 | €494,934 | €372,314 | -€122,620 | -24.8% |
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 5 October 2026 via checked.be.