Bart SUPEENE: 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 SUPEENE
Largest movements
- Tangible fixed assets -€289,083
down €289,083 (-16.9%), from €1.7m to €1.4m
of which Land and buildings: -€298,539
- Cash +€76,278
up €76,278 (+101.1%), from €75,428 to €151,706
mainly Investment in fixed assets (net) (+€226,482) and Net result for the year (+€159,434)
- Current investments +€25,000
up €25,000 (+11.1%), from €225,000 to €250,000
- Debts after one year -€263,048
down €263,048 (-28.8%), from €913,270 to €650,222
- Reserves +€119,088
up €119,088 (+14.4%), from €828,745 to €947,833
of which Distributable reserves: +€119,088
- Other debts -€44,513
down €44,513 (-45.9%), from €97,061 to €52,548
- Current portion of long-term debt -€22,039
down €22,039 (-19.0%), from €115,782 to €93,743
- Gross operating margin +€74,063
up €74,063 (+29.3%), from €252,359 to €326,422
- Taxes +€26,125
up €26,125 (+59.2%), from €44,160 to €70,285
- Depreciation -€6,486
down €6,486 (-9.4%), from €69,087 to €62,601
- Financial income -€3,521
down €3,521 (-94.8%), from €3,714 to €193
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 | €2,010,481 | €1,822,676 | -€187,805 | -9.3% |
| Fixed assets | 21/28 | €1,710,053 | €1,420,970 | -€289,083 | -16.9% |
| Tangible fixed assets | 22/27 | €1,710,053 | €1,420,970 | -€289,083 | -16.9% |
| Land and buildings | 22 | €1,704,074 | €1,405,535 | -€298,539 | -17.5% |
| Plant, machinery and equipment | 23 | €4,113 | €5,658 | +€1,545 | +37.6% |
| Furniture and vehicles | 24 | €1,866 | €9,777 | +€7,911 | +424.0% |
| Current assets | 29/58 | €300,428 | €401,706 | +€101,278 | +33.7% |
| Current investments | 50/53 | €225,000 | €250,000 | +€25,000 | +11.1% |
| Cash at bank and in hand | 54/58 | €75,428 | €151,706 | +€76,278 | +101.1% |
| Total equity and liabilities | 10/49 | €2,010,481 | €1,822,676 | -€187,805 | -9.3% |
| Equity | 10/15 | €847,345 | €966,433 | +€119,088 | +14.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €828,745 | €947,833 | +€119,088 | +14.4% |
| Tax-exempt reserves | 132 | €16,233 | €16,233 | = | 0.0% |
| Distributable reserves | 133 | €812,512 | €931,600 | +€119,088 | +14.7% |
| Amounts payable | 17/49 | €1,163,136 | €856,243 | -€306,893 | -26.4% |
| Amounts payable after more than one year | 17 | €913,270 | €650,222 | -€263,048 | -28.8% |
| Financial debts | 170/4 | €913,270 | €650,222 | -€263,048 | -28.8% |
| Amounts payable within one year | 42/48 | €249,866 | €206,021 | -€43,845 | -17.5% |
| Current portion of amounts payable after more than one year | 42 | €115,782 | €93,743 | -€22,039 | -19.0% |
| Trade debts | 44 | €1,983 | €9,136 | +€7,153 | +360.7% |
| Suppliers | 440/4 | €1,983 | €9,136 | +€7,153 | +360.7% |
| Taxes, remuneration and social security | 45 | €35,040 | €50,594 | +€15,554 | +44.4% |
| Taxes | 450/3 | €35,040 | €45,285 | +€10,245 | +29.2% |
| Remuneration and social security | 454/9 | - | €5,309 | +€5,309 | |
| Other amounts payable | 47/48 | €97,061 | €52,548 | -€44,513 | -45.9% |
| Non-recurring operating income | 76A | - | €127,031 | +€127,031 | |
| Remuneration, social security and pensions | 62 | €4,892 | €5,564 | +€672 | +13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,087 | €62,601 | -€6,486 | -9.4% |
| Other operating charges | 640/8 | €13,086 | €13,754 | +€668 | +5.1% |
| Gross operating margin | 9900 | €252,359 | €326,422 | +€74,063 | +29.3% |
| Operating profit (loss) | 9901 | €165,294 | €244,503 | +€79,209 | +47.9% |
| Financial income | 75/76B | €3,714 | €193 | -€3,521 | -94.8% |
| Recurring financial income | 75 | €1,884 | €193 | -€1,691 | -89.8% |
| Non-recurring financial income | 76B | €1,830 | €193 | -€1,637 | -89.5% |
| Financial charges | 65/66B | €16,715 | €14,977 | -€1,738 | -10.4% |
| Recurring financial charges | 65 | €16,715 | €14,966 | -€1,749 | -10.5% |
| Non-recurring financial charges | 66B | - | €11 | +€11 | |
| Profit (loss) for the period before taxes | 9903 | €152,293 | €229,719 | +€77,426 | +50.8% |
| Income taxes | 67/77 | €44,160 | €70,285 | +€26,125 | +59.2% |
| Profit (loss) for the period | 9904 | €108,133 | €159,434 | +€51,301 | +47.4% |
| Profit (loss) for the period to be appropriated | 9905 | €108,133 | €159,434 | +€51,301 | +47.4% |
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 8 October 2026 via checked.be.