BART'S VOEGWERKEN: 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'S VOEGWERKEN
Largest movements
- Tangible fixed assets -€20,248
down €20,248 (-15.1%), from €134,277 to €114,029
of which Land and buildings: -€17,346
- Cash -€2,422
down €2,422 (-6.1%), from €39,744 to €37,322
mainly Other debts (-€23,082) and Debts after one year (-€15,643)
- Other debts -€23,082
down €23,082 (-18.7%), from €123,148 to €100,066
- Debts after one year -€15,643
down €15,643 (-12.9%), from €121,254 to €105,611
- Short-term financial debts +€9,396
new in 2025: €9,396
- Trade debts +€4,826
up €4,826 (+118%), from €4,086 to €8,912
- Financial charges +€10,091
up €10,091 (+121%), from €8,309 to €18,401
- Gross operating margin +€3,997
up €3,997 (+8.5%), from €47,143 to €51,140
- Other operating charges +€753
up €753 (+19.4%), from €3,874 to €4,627
- Depreciation +€689
up €689 (+2.5%), from €27,263 to €27,952
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 | €186,956 | €163,213 | -€23,743 | -12.7% |
| Fixed assets | 21/28 | €134,277 | €114,029 | -€20,248 | -15.1% |
| Tangible fixed assets | 22/27 | €134,277 | €114,029 | -€20,248 | -15.1% |
| Land and buildings | 22 | €116,259 | €98,913 | -€17,346 | -14.9% |
| Plant, machinery and equipment | 23 | €6,293 | €11,115 | +€4,822 | +76.6% |
| Furniture and vehicles | 24 | €11,725 | €4,000 | -€7,725 | -65.9% |
| Current assets | 29/58 | €52,679 | €49,185 | -€3,495 | -6.6% |
| Amounts receivable within one year | 40/41 | €11,337 | €9,906 | -€1,431 | -12.6% |
| Trade receivables | 40 | €8,298 | €9,325 | +€1,027 | +12.4% |
| Other amounts receivable | 41 | €3,039 | €581 | -€2,458 | -80.9% |
| Cash at bank and in hand | 54/58 | €39,744 | €37,322 | -€2,422 | -6.1% |
| Deferred charges and accrued income | 490/1 | €1,598 | €1,956 | +€359 | +22.5% |
| Total equity and liabilities | 10/49 | €186,956 | €163,213 | -€23,743 | -12.7% |
| Equity | 10/15 | -€79,297 | -€79,203 | +€94 | +0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€99,757 | -€99,663 | +€94 | +0.1% |
| Amounts payable | 17/49 | €266,253 | €242,416 | -€23,837 | -9.0% |
| Amounts payable after more than one year | 17 | €121,254 | €105,611 | -€15,643 | -12.9% |
| Financial debts | 170/4 | €121,254 | €105,611 | -€15,643 | -12.9% |
| Amounts payable within one year | 42/48 | €144,999 | €136,805 | -€8,194 | -5.7% |
| Current portion of amounts payable after more than one year | 42 | €14,981 | €15,643 | +€663 | +4.4% |
| Financial debts | 43 | - | €9,396 | +€9,396 | |
| Credit institutions | 430/8 | - | €9,396 | +€9,396 | |
| Trade debts | 44 | €4,086 | €8,912 | +€4,826 | +118% |
| Suppliers | 440/4 | €4,086 | €8,912 | +€4,826 | +118% |
| Taxes, remuneration and social security | 45 | €2,784 | €2,788 | +€4 | +0.1% |
| Taxes | 450/3 | €1,242 | €1,214 | -€28 | -2.3% |
| Remuneration and social security | 454/9 | €1,542 | €1,574 | +€32 | +2.1% |
| Other amounts payable | 47/48 | €123,148 | €100,066 | -€23,082 | -18.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,263 | €27,952 | +€689 | +2.5% |
| Other operating charges | 640/8 | €3,874 | €4,627 | +€753 | +19.4% |
| Gross operating margin | 9900 | €47,143 | €51,140 | +€3,997 | +8.5% |
| Operating profit (loss) | 9901 | €16,006 | €18,562 | +€2,555 | +16.0% |
| Financial income | 75/76B | €110 | €89 | -€21 | -19.4% |
| Recurring financial income | 75 | €110 | €89 | -€21 | -19.4% |
| Financial charges | 65/66B | €8,309 | €18,401 | +€10,091 | +121% |
| Recurring financial charges | 65 | €8,309 | €18,401 | +€10,091 | +121% |
| Profit (loss) for the period before taxes | 9903 | €7,807 | €250 | -€7,557 | -96.8% |
| Income taxes | 67/77 | €150 | €156 | +€6 | +3.9% |
| Profit (loss) for the period | 9904 | €7,657 | €94 | -€7,563 | -98.8% |
| Profit (loss) for the period to be appropriated | 9905 | €7,657 | €94 | -€7,563 | -98.8% |
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 28 October 2026 via checked.be.