BART SMET: 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 SMET
Largest movements
- Tangible fixed assets -€9,781
down €9,781 (-3.6%), from €271,159 to €261,377
- Cash -€4,271
down €4,271 (-13.5%), from €31,610 to €27,339
mainly Other debts (-€28,368) and Accrued charges and deferred income (-€915)
- Other debts -€28,368
down €28,368 (-23.3%), from €121,969 to €93,601
- Reserves +€11,400
up €11,400 (+7.0%), from €162,483 to €173,883
- Depreciation -€7,920
down €7,920 (-44.7%), from €17,702 to €9,781
- Other operating charges -€3,646
down €3,646 (-74.4%), from €4,900 to €1,254
- Taxes +€2,022
up €2,022 (+66.7%), from €3,030 to €5,051
- Gross operating margin -€378
down €378 (-1.2%), from €32,820 to €32,442
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 | €303,738 | €288,716 | -€15,022 | -4.9% |
| Fixed assets | 21/28 | €271,159 | €261,377 | -€9,781 | -3.6% |
| Tangible fixed assets | 22/27 | €271,159 | €261,377 | -€9,781 | -3.6% |
| Land and buildings | 22 | €271,159 | €261,377 | -€9,781 | -3.6% |
| Current assets | 29/58 | €32,580 | €27,339 | -€5,241 | -16.1% |
| Amounts receivable within one year | 40/41 | €970 | - | -€970 | |
| Other amounts receivable | 41 | €970 | - | -€970 | |
| Cash at bank and in hand | 54/58 | €31,610 | €27,339 | -€4,271 | -13.5% |
| Total equity and liabilities | 10/49 | €303,738 | €288,716 | -€15,022 | -4.9% |
| Equity | 10/15 | €175,129 | €186,535 | +€11,406 | +6.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €162,483 | €173,883 | +€11,400 | +7.0% |
| Distributable reserves | 133 | €162,483 | €173,883 | +€11,400 | +7.0% |
| Profit (loss) carried forward | 14 | €246 | €252 | +€6 | +2.4% |
| Amounts payable | 17/49 | €128,609 | €102,181 | -€26,428 | -20.5% |
| Amounts payable within one year | 42/48 | €122,453 | €96,940 | -€25,513 | -20.8% |
| Trade debts | 44 | €484 | €1,288 | +€804 | +166% |
| Suppliers | 440/4 | €484 | €1,288 | +€804 | +166% |
| Taxes, remuneration and social security | 45 | - | €2,051 | +€2,051 | |
| Taxes | 450/3 | - | €2,051 | +€2,051 | |
| Other amounts payable | 47/48 | €121,969 | €93,601 | -€28,368 | -23.3% |
| Accrued charges and deferred income | 492/3 | €6,156 | €5,241 | -€915 | -14.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,702 | €9,781 | -€7,920 | -44.7% |
| Other operating charges | 640/8 | €4,900 | €1,254 | -€3,646 | -74.4% |
| Gross operating margin | 9900 | €32,820 | €32,442 | -€378 | -1.2% |
| Operating profit (loss) | 9901 | €10,218 | €21,406 | +€11,188 | +109% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €5,180 | €4,949 | -€231 | -4.5% |
| Recurring financial charges | 65 | €5,180 | €4,949 | -€231 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | €5,039 | €16,457 | +€11,419 | +227% |
| Income taxes | 67/77 | €3,030 | €5,051 | +€2,022 | +66.7% |
| Profit (loss) for the period | 9904 | €2,009 | €11,406 | +€9,397 | +468% |
| Profit (loss) for the period to be appropriated | 9905 | €2,009 | €11,406 | +€9,397 | +468% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.