BART GEETS: 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 GEETS
Largest movements
- Receivables within one year +€32,644
up €32,644 (+9.7%), from €336,404 to €369,048
of which Trade receivables: +€53,809
- Current investments -€25,000
down €25,000 (-63.8%), from €39,200 to €14,200
- Tangible fixed assets -€11,282
down €11,282 (-2.2%), from €502,836 to €491,554
of which Land and buildings: -€11,201
- Cash -€9,836
down €9,836 (-72.2%), from €13,628 to €3,792
mainly Other debts (-€56,498) and Receivables within one year (-€32,644)
- Other debts -€56,498
down €56,498 (-100.0%), from €56,498 to €0
- Short-term financial debts +€34,704
up €34,704, from €0 to €34,704
- Gross operating margin -€164,386
down €164,386 (-75.9%), from €216,681 to €52,295
- Taxes -€45,202
down €45,202 (-97.6%), from €46,325 to €1,124
- Depreciation -€4,427
down €4,427 (-9.7%), from €45,432 to €41,006
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 | €894,225 | €884,230 | -€9,995 | -1.1% |
| Fixed assets | 21/28 | €503,646 | €493,504 | -€10,142 | -2.0% |
| Tangible fixed assets | 22/27 | €502,836 | €491,554 | -€11,282 | -2.2% |
| Land and buildings | 22 | €491,517 | €480,316 | -€11,201 | -2.3% |
| Plant, machinery and equipment | 23 | €9,596 | €10,022 | +€426 | +4.4% |
| Furniture and vehicles | 24 | €1,723 | €1,215 | -€507 | -29.5% |
| Financial fixed assets | 28 | €810 | €1,950 | +€1,140 | +140.7% |
| Current assets | 29/58 | €390,579 | €390,726 | +€148 | 0.0% |
| Amounts receivable within one year | 40/41 | €336,404 | €369,048 | +€32,644 | +9.7% |
| Trade receivables | 40 | €139,023 | €192,832 | +€53,809 | +38.7% |
| Other amounts receivable | 41 | €197,381 | €176,216 | -€21,165 | -10.7% |
| Current investments | 50/53 | €39,200 | €14,200 | -€25,000 | -63.8% |
| Cash at bank and in hand | 54/58 | €13,628 | €3,792 | -€9,836 | -72.2% |
| Deferred charges and accrued income | 490/1 | €1,347 | €3,687 | +€2,340 | +173.7% |
| Total equity and liabilities | 10/49 | €894,225 | €884,230 | -€9,995 | -1.1% |
| Equity | 10/15 | €419,080 | €415,715 | -€3,364 | -0.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €418,080 | €418,080 | = | 0.0% |
| Distributable reserves | 133 | €418,080 | €418,080 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€3,364 | -€3,364 | |
| Amounts payable | 17/49 | €475,145 | €468,515 | -€6,630 | -1.4% |
| Amounts payable after more than one year | 17 | €330,408 | €336,947 | +€6,539 | +2.0% |
| Financial debts | 170/4 | €330,408 | €336,947 | +€6,539 | +2.0% |
| Amounts payable within one year | 42/48 | €144,217 | €131,469 | -€12,749 | -8.8% |
| Current portion of amounts payable after more than one year | 42 | €38,921 | €44,211 | +€5,290 | +13.6% |
| Financial debts | 43 | €0 | €34,704 | +€34,704 | |
| Credit institutions | 430/8 | €0 | €34,704 | +€34,704 | |
| Trade debts | 44 | €17,580 | €16,269 | -€1,311 | -7.5% |
| Suppliers | 440/4 | €17,580 | €16,269 | -€1,311 | -7.5% |
| Taxes, remuneration and social security | 45 | €31,218 | €36,285 | +€5,067 | +16.2% |
| Taxes | 450/3 | €28,718 | €32,735 | +€4,017 | +14.0% |
| Remuneration and social security | 454/9 | €2,500 | €3,550 | +€1,050 | +42.0% |
| Other amounts payable | 47/48 | €56,498 | €0 | -€56,498 | -100.0% |
| Accrued charges and deferred income | 492/3 | €519 | €99 | -€421 | -81.0% |
| Non-recurring operating income | 76A | - | €9,500 | +€9,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,432 | €41,006 | -€4,427 | -9.7% |
| Other operating charges | 640/8 | €3,268 | €3,527 | +€259 | +7.9% |
| Gross operating margin | 9900 | €216,681 | €52,295 | -€164,386 | -75.9% |
| Operating profit (loss) | 9901 | €167,981 | €7,763 | -€160,218 | -95.4% |
| Financial income | 75/76B | €4,560 | €4,405 | -€155 | -3.4% |
| Recurring financial income | 75 | €4,560 | €4,405 | -€155 | -3.4% |
| Financial charges | 65/66B | €13,763 | €14,408 | +€646 | +4.7% |
| Recurring financial charges | 65 | €13,763 | €14,408 | +€646 | +4.7% |
| Profit (loss) for the period before taxes | 9903 | €158,778 | -€2,241 | -€161,019 | |
| Income taxes | 67/77 | €46,325 | €1,124 | -€45,202 | -97.6% |
| Profit (loss) for the period | 9904 | €112,453 | -€3,364 | -€115,817 | |
| Profit (loss) for the period to be appropriated | 9905 | €112,453 | -€3,364 | -€115,817 |
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 11 October 2026 via checked.be.