Bart Elektro: 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 Elektro
Largest movements
- Receivables within one year +€30,723
up €30,723 (+189.7%), from €16,194 to €46,917
of which Trade receivables: +€28,847
- Cash +€29,961
up €29,961 (+68.2%), from €43,903 to €73,864
mainly Net result for the year (+€50,309) and Depreciation (+€9,952)
- Tangible fixed assets -€6,760
down €6,760 (-8.2%), from €82,079 to €75,319
of which Furniture and vehicles: -€5,413
- Stocks and contracts -€5,280
down €5,280 (-69.0%), from €7,655 to €2,375
- Reserves +€50,309
up €50,309 (+116.5%), from €43,172 to €93,482
- Tax, wage and social debts +€5,934
up €5,934 (+3874.5%), from €153 to €6,087
of which Taxes: +€3,934
- Other debts -€3,248
down €3,248 (-3.6%), from €91,358 to €88,111
- Debts after one year -€2,888
no longer reported in 2025 (was €2,888)
- Gross operating margin +€29,227
up €29,227 (+59.7%), from €48,988 to €78,214
- Taxes +€7,281
up €7,281 (+71.7%), from €10,153 to €17,434
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 | €151,081 | €199,725 | +€48,644 | +32.2% |
| Fixed assets | 21/28 | €83,329 | €76,569 | -€6,760 | -8.1% |
| Tangible fixed assets | 22/27 | €82,079 | €75,319 | -€6,760 | -8.2% |
| Land and buildings | 22 | €71,626 | €70,650 | -€976 | -1.4% |
| Plant, machinery and equipment | 23 | €1,504 | €1,132 | -€372 | -24.7% |
| Furniture and vehicles | 24 | €8,950 | €3,537 | -€5,413 | -60.5% |
| Financial fixed assets | 28 | €1,250 | €1,250 | = | 0.0% |
| Current assets | 29/58 | €67,752 | €123,156 | +€55,405 | +81.8% |
| Stocks and contracts in progress | 3 | €7,655 | €2,375 | -€5,280 | -69.0% |
| Stocks | 30/36 | €7,655 | €2,375 | -€5,280 | -69.0% |
| Amounts receivable within one year | 40/41 | €16,194 | €46,917 | +€30,723 | +189.7% |
| Trade receivables | 40 | €13,805 | €42,652 | +€28,847 | +209.0% |
| Other amounts receivable | 41 | €2,389 | €4,265 | +€1,876 | +78.5% |
| Cash at bank and in hand | 54/58 | €43,903 | €73,864 | +€29,961 | +68.2% |
| Total equity and liabilities | 10/49 | €151,081 | €199,725 | +€48,644 | +32.2% |
| Equity | 10/15 | €48,172 | €98,482 | +€50,309 | +104.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €43,172 | €93,482 | +€50,309 | +116.5% |
| Distributable reserves | 133 | €43,172 | €93,482 | +€50,309 | +116.5% |
| Amounts payable | 17/49 | €102,909 | €101,244 | -€1,665 | -1.6% |
| Amounts payable after more than one year | 17 | €2,888 | - | -€2,888 | |
| Financial debts | 170/4 | €2,888 | - | -€2,888 | |
| Amounts payable within one year | 42/48 | €100,021 | €101,244 | +€1,223 | +1.2% |
| Current portion of amounts payable after more than one year | 42 | €4,314 | €2,888 | -€1,427 | -33.1% |
| Trade debts | 44 | €4,195 | €4,158 | -€37 | -0.9% |
| Suppliers | 440/4 | €4,195 | €4,158 | -€37 | -0.9% |
| Taxes, remuneration and social security | 45 | €153 | €6,087 | +€5,934 | +3874.5% |
| Taxes | 450/3 | €153 | €4,087 | +€3,934 | +2568.6% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | €91,358 | €88,111 | -€3,248 | -3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,805 | €9,952 | +€147 | +1.5% |
| Other operating charges | 640/8 | €467 | €465 | -€2 | -0.4% |
| Gross operating margin | 9900 | €48,988 | €78,214 | +€29,227 | +59.7% |
| Operating profit (loss) | 9901 | €38,716 | €67,797 | +€29,081 | +75.1% |
| Financial income | 75/76B | €231 | €25 | -€206 | -89.0% |
| Recurring financial income | 75 | €231 | €25 | -€206 | -89.0% |
| Financial charges | 65/66B | €101 | €79 | -€21 | -21.2% |
| Recurring financial charges | 65 | €101 | €79 | -€21 | -21.2% |
| Profit (loss) for the period before taxes | 9903 | €38,847 | €67,744 | +€28,897 | +74.4% |
| Income taxes | 67/77 | €10,153 | €17,434 | +€7,281 | +71.7% |
| Profit (loss) for the period | 9904 | €28,694 | €50,309 | +€21,616 | +75.3% |
| Profit (loss) for the period to be appropriated | 9905 | €28,694 | €50,309 | +€21,616 | +75.3% |
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 6 October 2026 via checked.be.