BART MOEYAERT: 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 MOEYAERT
Largest movements
- Cash +€39,403
up €39,403 (+23.9%), from €164,762 to €204,165
mainly Receivables within one year (+€13,304) and Depreciation (+€11,459)
- Receivables within one year -€13,304
down €13,304 (-21.7%), from €61,243 to €47,939
of which Trade receivables: -€14,286
- Tangible fixed assets -€10,000
down €10,000 (-41.9%), from €23,842 to €13,842
of which Furniture and vehicles: -€9,473
- Other debts +€9,945
up €9,945 (+12.1%), from €82,309 to €92,253
- Tax, wage and social debts +€3,603
up €3,603 (+264.4%), from €1,363 to €4,966
- Trade debts -€3,051
down €3,051 (-45.4%), from €6,716 to €3,665
- Profit (loss) carried forward +€2,905
up €2,905, from -€2,905 to €0
- Taxes +€2,307
up €2,307 (+176.8%), from €1,305 to €3,612
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 | €256,583 | €273,219 | +€16,636 | +6.5% |
| Fixed assets | 21/28 | €28,859 | €17,400 | -€11,459 | -39.7% |
| Intangible fixed assets | 21 | €5,017 | €3,559 | -€1,459 | -29.1% |
| Tangible fixed assets | 22/27 | €23,842 | €13,842 | -€10,000 | -41.9% |
| Furniture and vehicles | 24 | €21,734 | €12,261 | -€9,473 | -43.6% |
| Other tangible fixed assets | 26 | €2,107 | €1,581 | -€527 | -25.0% |
| Current assets | 29/58 | €227,724 | €255,819 | +€28,094 | +12.3% |
| Stocks and contracts in progress | 3 | - | €1,411 | +€1,411 | |
| Stocks | 30/36 | - | €1,411 | +€1,411 | |
| Amounts receivable within one year | 40/41 | €61,243 | €47,939 | -€13,304 | -21.7% |
| Trade receivables | 40 | €61,142 | €46,856 | -€14,286 | -23.4% |
| Other amounts receivable | 41 | €101 | €1,083 | +€983 | +976.1% |
| Cash at bank and in hand | 54/58 | €164,762 | €204,165 | +€39,403 | +23.9% |
| Deferred charges and accrued income | 490/1 | €1,720 | €2,303 | +€584 | +33.9% |
| Total equity and liabilities | 10/49 | €256,583 | €273,219 | +€16,636 | +6.5% |
| Equity | 10/15 | €165,895 | €170,534 | +€4,638 | +2.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €150,208 | €151,942 | +€1,734 | +1.2% |
| Distributable reserves | 133 | €150,208 | €151,942 | +€1,734 | +1.2% |
| Profit (loss) carried forward | 14 | -€2,905 | €0 | +€2,905 | |
| Amounts payable | 17/49 | €90,688 | €102,685 | +€11,997 | +13.2% |
| Amounts payable within one year | 42/48 | €90,688 | €102,685 | +€11,997 | +13.2% |
| Financial debts | 43 | €300 | €414 | +€114 | +37.9% |
| Credit institutions | 430/8 | €300 | €414 | +€114 | +37.9% |
| Trade debts | 44 | €6,716 | €3,665 | -€3,051 | -45.4% |
| Suppliers | 440/4 | €6,716 | €3,665 | -€3,051 | -45.4% |
| Advances received on contracts in progress | 46 | - | €1,387 | +€1,387 | |
| Taxes, remuneration and social security | 45 | €1,363 | €4,966 | +€3,603 | +264.4% |
| Taxes | 450/3 | €1,363 | €4,966 | +€3,603 | +264.4% |
| Other amounts payable | 47/48 | €82,309 | €92,253 | +€9,945 | +12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,446 | €11,459 | +€12 | +0.1% |
| Other operating charges | 640/8 | €1,167 | €1,295 | +€129 | +11.0% |
| Gross operating margin | 9900 | €21,118 | €21,129 | +€11 | +0.1% |
| Operating profit (loss) | 9901 | €8,505 | €8,375 | -€130 | -1.5% |
| Financial income | 75/76B | €14 | €26 | +€12 | +86.2% |
| Recurring financial income | 75 | €14 | €26 | +€12 | +86.2% |
| Financial charges | 65/66B | €196 | €151 | -€45 | -23.1% |
| Recurring financial charges | 65 | €196 | €151 | -€45 | -23.1% |
| Profit (loss) for the period before taxes | 9903 | €8,323 | €8,250 | -€73 | -0.9% |
| Income taxes | 67/77 | €1,305 | €3,612 | +€2,307 | +176.8% |
| Profit (loss) for the period | 9904 | €7,018 | €4,638 | -€2,380 | -33.9% |
| Profit (loss) for the period to be appropriated | 9905 | €7,018 | €4,638 | -€2,380 | -33.9% |
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 7 October 2026 via checked.be.