Bart Favoreel: 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 Favoreel
Largest movements
- Tangible fixed assets -€20,839
down €20,839 (-14.4%), from €144,586 to €123,746
of which Land and buildings: -€19,645
- Receivables within one year +€4,796
up €4,796 (+15.3%), from €31,391 to €36,187
of which Other amounts receivable: +€5,584
- Other debts -€17,404
no longer reported in 2024 (was €17,404)
- Debts after one year -€15,978
down €15,978 (-8.5%), from €188,916 to €172,938
- Profit (loss) carried forward +€6,477
up €6,477 (+8.5%), from -€76,494 to -€70,017
- Tax, wage and social debts +€5,600
up €5,600 (+116%), from €4,827 to €10,427
- Current portion of long-term debt +€3,796
up €3,796 (+24.3%), from €15,648 to €19,444
- Depreciation -€2,383
down €2,383 (-10.3%), from €23,222 to €20,839
- Financial charges -€2,305
down €2,305 (-36.5%), from €6,312 to €4,007
- Purchases and services -€620
down €620 (-1.3%), from €46,897 to €46,277
- Gross operating margin +€331
up €331 (+1.0%), from €32,135 to €32,467
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €180,301 | €165,395 | -€14,906 | -8.3% |
| Fixed assets | 21/28 | €146,636 | €125,796 | -€20,839 | -14.2% |
| Tangible fixed assets | 22/27 | €144,586 | €123,746 | -€20,839 | -14.4% |
| Land and buildings | 22 | €130,371 | €110,726 | -€19,645 | -15.1% |
| Plant, machinery and equipment | 23 | €629 | €162 | -€467 | -74.2% |
| Furniture and vehicles | 24 | €1,183 | €456 | -€727 | -61.4% |
| Other tangible fixed assets | 26 | €12,402 | €12,402 | = | 0.0% |
| Financial fixed assets | 28 | €2,050 | €2,050 | = | 0.0% |
| Current assets | 29/58 | €33,665 | €39,599 | +€5,933 | +17.6% |
| Amounts receivable within one year | 40/41 | €31,391 | €36,187 | +€4,796 | +15.3% |
| Trade receivables | 40 | €31,391 | €30,603 | -€788 | -2.5% |
| Other amounts receivable | 41 | - | €5,584 | +€5,584 | |
| Cash at bank and in hand | 54/58 | €2,274 | €3,412 | +€1,138 | +50.0% |
| Total equity and liabilities | 10/49 | €180,301 | €165,395 | -€14,906 | -8.3% |
| Equity | 10/15 | -€46,494 | -€40,017 | +€6,477 | +13.9% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Contributions outside capital | 11 | €30,000 | €30,000 | = | 0.0% |
| Other | 1109/19 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€76,494 | -€70,017 | +€6,477 | +8.5% |
| Amounts payable | 17/49 | €226,795 | €205,412 | -€21,383 | -9.4% |
| Amounts payable after more than one year | 17 | €188,916 | €172,938 | -€15,978 | -8.5% |
| Financial debts | 170/4 | €188,916 | €172,938 | -€15,978 | -8.5% |
| Amounts payable within one year | 42/48 | €37,879 | €32,474 | -€5,405 | -14.3% |
| Current portion of amounts payable after more than one year | 42 | €15,648 | €19,444 | +€3,796 | +24.3% |
| Trade debts | 44 | - | €2,604 | +€2,604 | |
| Suppliers | 440/4 | - | €2,604 | +€2,604 | |
| Taxes, remuneration and social security | 45 | €4,827 | €10,427 | +€5,600 | +116% |
| Taxes | 450/3 | €4,827 | €10,427 | +€5,600 | +116% |
| Other amounts payable | 47/48 | €17,404 | - | -€17,404 | |
| Goods, raw materials, services and sundry goods | 60/61 | €46,897 | €46,277 | -€620 | -1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,222 | €20,839 | -€2,383 | -10.3% |
| Other operating charges | 640/8 | €709 | €1,024 | +€315 | +44.4% |
| Gross operating margin | 9900 | €32,135 | €32,467 | +€331 | +1.0% |
| Operating profit (loss) | 9901 | €8,204 | €10,603 | +€2,399 | +29.2% |
| Financial charges | 65/66B | €6,312 | €4,007 | -€2,305 | -36.5% |
| Recurring financial charges | 65 | €6,312 | €4,007 | -€2,305 | -36.5% |
| Profit (loss) for the period before taxes | 9903 | €1,892 | €6,596 | +€4,704 | +249% |
| Income taxes | 67/77 | - | €120 | +€120 | |
| Profit (loss) for the period | 9904 | €1,892 | €6,477 | +€4,585 | +242% |
| Profit (loss) for the period to be appropriated | 9905 | €1,892 | €6,477 | +€4,585 | +242% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.