BART GEUNS: 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 GEUNS
Largest movements
- Tangible fixed assets +€22,203
up €22,203 (+1,712%), from €1,297 to €23,500
of which Furniture and vehicles: +€22,686
- Cash +€2,471
up €2,471 (+8.7%), from €28,408 to €30,880
mainly Net result for the year (+€13,017) and Other debts (+€10,000)
- Receivables within one year -€2,258
down €2,258 (-35.8%), from €6,311 to €4,053
of which Other amounts receivable: -€3,947
- Deferred charges and accrued income +€601
up €601 (+77.7%), from €773 to €1,374
- Profit (loss) carried forward +€13,017
up €13,017 (+407%), from €3,195 to €16,212
- Other debts +€10,000
up €10,000 (+278%), from €3,595 to €13,595
- Gross operating margin +€28,993
up €28,993, from -€11,945 to €17,048
- Depreciation +€2,934
up €2,934 (+607%), from €483 to €3,417
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 | €36,790 | €59,807 | +€23,017 | +62.6% |
| Fixed assets | 21/28 | €1,297 | €23,500 | +€22,203 | +1,712% |
| Tangible fixed assets | 22/27 | €1,297 | €23,500 | +€22,203 | +1,712% |
| Plant, machinery and equipment | 23 | €1,297 | €814 | -€483 | -37.2% |
| Furniture and vehicles | 24 | - | €22,686 | +€22,686 | |
| Current assets | 29/58 | €35,493 | €36,307 | +€814 | +2.3% |
| Amounts receivable within one year | 40/41 | €6,311 | €4,053 | -€2,258 | -35.8% |
| Trade receivables | 40 | €2,093 | €3,782 | +€1,689 | +80.7% |
| Other amounts receivable | 41 | €4,218 | €271 | -€3,947 | -93.6% |
| Cash at bank and in hand | 54/58 | €28,408 | €30,880 | +€2,471 | +8.7% |
| Deferred charges and accrued income | 490/1 | €773 | €1,374 | +€601 | +77.7% |
| Total equity and liabilities | 10/49 | €36,790 | €59,807 | +€23,017 | +62.6% |
| Equity | 10/15 | €33,195 | €46,212 | +€13,017 | +39.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,195 | €16,212 | +€13,017 | +407% |
| Amounts payable | 17/49 | €3,595 | €13,595 | +€10,000 | +278% |
| Amounts payable within one year | 42/48 | €3,595 | €13,595 | +€10,000 | +278% |
| Other amounts payable | 47/48 | €3,595 | €13,595 | +€10,000 | +278% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €483 | €3,417 | +€2,934 | +607% |
| Other operating charges | 640/8 | €449 | €571 | +€122 | +27.1% |
| Gross operating margin | 9900 | -€11,945 | €17,048 | +€28,993 | |
| Operating profit (loss) | 9901 | -€12,877 | €13,060 | +€25,937 | |
| Financial charges | 65/66B | €45 | €43 | -€2 | -4.7% |
| Recurring financial charges | 65 | €45 | €43 | -€2 | -4.7% |
| Profit (loss) for the period before taxes | 9903 | -€12,922 | €13,017 | +€25,939 | |
| Profit (loss) for the period | 9904 | -€12,922 | €13,017 | +€25,939 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,922 | €13,017 | +€25,939 |
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 26 October 2026 via checked.be.