BART THIJS: 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 THIJS
Largest movements
- Tangible fixed assets -€61,674
down €61,674 (-13.2%), from €466,836 to €405,162
of which Furniture and vehicles: -€41,098
- Receivables within one year +€45,799
up €45,799 (+51.5%), from €88,865 to €134,664
of which Trade receivables: +€55,098
- Cash -€14,939
down €14,939 (-17.4%), from €85,931 to €70,992
mainly Receivables within one year (-€45,799) and Debts after one year (-€33,747)
- Stocks and contracts +€12,500
up €12,500, from €0 to €12,500
- Debts after one year -€33,747
down €33,747 (-9.8%), from €344,053 to €310,306
of which Financial debts: -€23,747
- Current portion of long-term debt -€24,186
down €24,186 (-50.5%), from €47,933 to €23,747
- Tax, wage and social debts +€20,834
up €20,834 (+152.5%), from €13,661 to €34,494
of which Remuneration and social security: +€20,633
- Reserves +€12,842
up €12,842 (+7.5%), from €170,155 to €182,997
of which Distributable reserves: +€12,842
- Gross operating margin +€105,585
up €105,585 (+43.6%), from €242,309 to €347,895
- Staff costs +€70,510
up €70,510 (+46.8%), from €150,570 to €221,079
- Depreciation +€12,356
up €12,356 (+17.7%), from €69,633 to €81,988
- Write-downs -€6,043
down €6,043 (-100.0%), from €6,043 to €0
- Taxes +€4,014
up €4,014 (+501.1%), from €801 to €4,815
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 | €660,571 | €636,787 | -€23,785 | -3.6% |
| Fixed assets | 21/28 | €466,836 | €405,162 | -€61,674 | -13.2% |
| Tangible fixed assets | 22/27 | €466,836 | €405,162 | -€61,674 | -13.2% |
| Land and buildings | 22 | €137,822 | €132,758 | -€5,065 | -3.7% |
| Plant, machinery and equipment | 23 | €98,164 | €82,653 | -€15,511 | -15.8% |
| Furniture and vehicles | 24 | €230,850 | €189,752 | -€41,098 | -17.8% |
| Current assets | 29/58 | €193,735 | €231,624 | +€37,889 | +19.6% |
| Stocks and contracts in progress | 3 | €0 | €12,500 | +€12,500 | |
| Contracts in progress | 37 | €0 | €12,500 | +€12,500 | |
| Amounts receivable within one year | 40/41 | €88,865 | €134,664 | +€45,799 | +51.5% |
| Trade receivables | 40 | €72,554 | €127,652 | +€55,098 | +75.9% |
| Other amounts receivable | 41 | €16,311 | €7,012 | -€9,299 | -57.0% |
| Cash at bank and in hand | 54/58 | €85,931 | €70,992 | -€14,939 | -17.4% |
| Deferred charges and accrued income | 490/1 | €18,939 | €13,468 | -€5,471 | -28.9% |
| Total equity and liabilities | 10/49 | €660,571 | €636,787 | -€23,785 | -3.6% |
| Equity | 10/15 | €203,862 | €216,704 | +€12,842 | +6.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €170,155 | €182,997 | +€12,842 | +7.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €170,155 | €182,997 | +€12,842 | +7.5% |
| Profit (loss) carried forward | 14 | €15,107 | €15,107 | = | 0.0% |
| Amounts payable | 17/49 | €456,709 | €420,083 | -€36,626 | -8.0% |
| Amounts payable after more than one year | 17 | €344,053 | €310,306 | -€33,747 | -9.8% |
| Financial debts | 170/4 | €134,053 | €110,306 | -€23,747 | -17.7% |
| Other amounts payable | 178/9 | €210,000 | €200,000 | -€10,000 | -4.8% |
| Amounts payable within one year | 42/48 | €112,656 | €109,776 | -€2,880 | -2.6% |
| Current portion of amounts payable after more than one year | 42 | €47,933 | €23,747 | -€24,186 | -50.5% |
| Trade debts | 44 | €47,249 | €45,736 | -€1,513 | -3.2% |
| Suppliers | 440/4 | €47,249 | €45,736 | -€1,513 | -3.2% |
| Taxes, remuneration and social security | 45 | €13,661 | €34,494 | +€20,834 | +152.5% |
| Taxes | 450/3 | €5,480 | €5,680 | +€200 | +3.7% |
| Remuneration and social security | 454/9 | €8,181 | €28,814 | +€20,633 | +252.2% |
| Other amounts payable | 47/48 | €3,813 | €5,800 | +€1,986 | +52.1% |
| Remuneration, social security and pensions | 62 | €150,570 | €221,079 | +€70,510 | +46.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,633 | €81,988 | +€12,356 | +17.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,043 | €0 | -€6,043 | -100.0% |
| Other operating charges | 640/8 | €2,194 | €2,363 | +€169 | +7.7% |
| Non-recurring operating charges | 66A | - | €17,251 | +€17,251 | |
| Gross operating margin | 9900 | €242,309 | €347,895 | +€105,585 | +43.6% |
| Operating profit (loss) | 9901 | €13,870 | €25,213 | +€11,342 | +81.8% |
| Financial income | 75/76B | €1,919 | €2,317 | +€398 | +20.7% |
| Recurring financial income | 75 | €1,919 | €2,317 | +€398 | +20.7% |
| Financial charges | 65/66B | €6,978 | €9,872 | +€2,894 | +41.5% |
| Recurring financial charges | 65 | €6,978 | €9,872 | +€2,894 | +41.5% |
| Profit (loss) for the period before taxes | 9903 | €8,811 | €17,657 | +€8,846 | +100.4% |
| Income taxes | 67/77 | €801 | €4,815 | +€4,014 | +501.1% |
| Profit (loss) for the period | 9904 | €8,010 | €12,842 | +€4,831 | +60.3% |
| Profit (loss) for the period to be appropriated | 9905 | €8,010 | €12,842 | +€4,831 | +60.3% |
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 12 October 2026 via checked.be.