Bart Scheerens: 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 Scheerens
Largest movements
- Deferred charges and accrued income +€11,128
new in 2025: €11,128
- Cash -€2,371
down €2,371 (-7.2%), from €32,943 to €30,572
mainly Deferred charges and accrued income (-€11,128) and Trade debts (-€4,319)
- Stocks and contracts +€1,024
new in 2025: €1,024
- Receivables within one year -€636
down €636 (-11.5%), from €5,531 to €4,895
of which Other amounts receivable: -€1,624
- Reserves +€16,514
up €16,514 (+175%), from €9,427 to €25,941
- Trade debts -€4,319
down €4,319 (-20.0%), from €21,570 to €17,251
- Other debts -€3,052
down €3,052 (-55.7%), from €5,477 to €2,425
- Gross operating margin +€41,283
up €41,283 (+181%), from €22,817 to €64,099
- Staff costs +€29,499
up €29,499 (+329%), from €8,953 to €38,452
- Financial charges +€3,499
up €3,499 (+880%), from €397 to €3,896
- Taxes +€981
up €981 (+30.2%), from €3,253 to €4,234
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 | €38,474 | €47,618 | +€9,144 | +23.8% |
| Current assets | 29/58 | €38,474 | €47,618 | +€9,144 | +23.8% |
| Stocks and contracts in progress | 3 | - | €1,024 | +€1,024 | |
| Stocks | 30/36 | - | €1,024 | +€1,024 | |
| Amounts receivable within one year | 40/41 | €5,531 | €4,895 | -€636 | -11.5% |
| Trade receivables | 40 | €1,585 | €2,573 | +€988 | +62.3% |
| Other amounts receivable | 41 | €3,945 | €2,321 | -€1,624 | -41.2% |
| Cash at bank and in hand | 54/58 | €32,943 | €30,572 | -€2,371 | -7.2% |
| Deferred charges and accrued income | 490/1 | - | €11,128 | +€11,128 | |
| Total equity and liabilities | 10/49 | €38,474 | €47,618 | +€9,144 | +23.8% |
| Equity | 10/15 | €11,427 | €27,941 | +€16,514 | +145% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €9,427 | €25,941 | +€16,514 | +175% |
| Distributable reserves | 133 | €9,427 | €25,941 | +€16,514 | +175% |
| Amounts payable | 17/49 | €27,047 | €19,676 | -€7,370 | -27.3% |
| Amounts payable within one year | 42/48 | €27,047 | €19,676 | -€7,370 | -27.3% |
| Trade debts | 44 | €21,570 | €17,251 | -€4,319 | -20.0% |
| Suppliers | 440/4 | €21,570 | €17,251 | -€4,319 | -20.0% |
| Other amounts payable | 47/48 | €5,477 | €2,425 | -€3,052 | -55.7% |
| Remuneration, social security and pensions | 62 | €8,953 | €38,452 | +€29,499 | +329% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1 | €0 | -€1 | -100% |
| Other operating charges | 640/8 | €786 | €1,063 | +€277 | +35.2% |
| Gross operating margin | 9900 | €22,817 | €64,099 | +€41,283 | +181% |
| Operating profit (loss) | 9901 | €13,077 | €24,585 | +€11,508 | +88.0% |
| Financial income | 75/76B | €1 | €60 | +€59 | +9,744% |
| Recurring financial income | 75 | €1 | €60 | +€59 | +9,744% |
| Financial charges | 65/66B | €397 | €3,896 | +€3,499 | +880% |
| Recurring financial charges | 65 | €397 | €3,896 | +€3,499 | +880% |
| Profit (loss) for the period before taxes | 9903 | €12,680 | €20,748 | +€8,068 | +63.6% |
| Income taxes | 67/77 | €3,253 | €4,234 | +€981 | +30.2% |
| Profit (loss) for the period | 9904 | €9,427 | €16,514 | +€7,087 | +75.2% |
| Profit (loss) for the period to be appropriated | 9905 | €9,427 | €16,514 | +€7,087 | +75.2% |
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 14 October 2026 via checked.be.