BART VAN DE VOORDE: 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 VAN DE VOORDE
Largest movements
- Tangible fixed assets +€37,658
up €37,658 (+76.7%), from €49,125 to €86,783
of which Furniture and vehicles: +€39,433
- Current investments -€23,729
down €23,729 (-45.9%), from €51,659 to €27,930
- Receivables within one year -€13,822
down €13,822 (-43.0%), from €32,138 to €18,315
of which Trade receivables: -€16,864
- Cash +€12,185
up €12,185 (+360%), from €3,387 to €15,571
mainly Net result for the year (+€25,181) and Current investments (+€23,729)
- Reserves +€25,181
up €25,181 (+29.5%), from €85,302 to €110,482
of which Distributable reserves: +€25,181
- Other debts -€8,175
down €8,175 (-36.7%), from €22,294 to €14,119
- Tax, wage and social debts -€6,516
down €6,516 (-57.2%), from €11,393 to €4,878
- Trade debts +€2,615
up €2,615 (+154%), from €1,698 to €4,313
- Gross operating margin +€4,675
up €4,675 (+10.1%), from €46,365 to €51,040
- Taxes +€2,763
up €2,763 (+25.0%), from €11,032 to €13,795
- Depreciation +€2,273
up €2,273 (+30.2%), from €7,532 to €9,804
- Other operating charges +€1,320
up €1,320 (+176%), from €750 to €2,070
- Financial charges -€549
down €549 (-40.4%), from €1,358 to €809
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 | €140,473 | €153,343 | +€12,870 | +9.2% |
| Fixed assets | 21/28 | €49,125 | €86,783 | +€37,658 | +76.7% |
| Tangible fixed assets | 22/27 | €49,125 | €86,783 | +€37,658 | +76.7% |
| Furniture and vehicles | 24 | €34,447 | €73,880 | +€39,433 | +114% |
| Other tangible fixed assets | 26 | €14,679 | €12,904 | -€1,775 | -12.1% |
| Current assets | 29/58 | €91,348 | €66,560 | -€24,788 | -27.1% |
| Amounts receivable within one year | 40/41 | €32,138 | €18,315 | -€13,822 | -43.0% |
| Trade receivables | 40 | €30,378 | €13,514 | -€16,864 | -55.5% |
| Other amounts receivable | 41 | €1,759 | €4,801 | +€3,042 | +173% |
| Current investments | 50/53 | €51,659 | €27,930 | -€23,729 | -45.9% |
| Cash at bank and in hand | 54/58 | €3,387 | €15,571 | +€12,185 | +360% |
| Deferred charges and accrued income | 490/1 | €4,164 | €4,743 | +€579 | +13.9% |
| Total equity and liabilities | 10/49 | €140,473 | €153,343 | +€12,870 | +9.2% |
| Equity | 10/15 | €103,902 | €129,082 | +€25,181 | +24.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €85,302 | €110,482 | +€25,181 | +29.5% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €85,302 | €110,482 | +€25,181 | +29.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €36,572 | €24,261 | -€12,311 | -33.7% |
| Amounts payable within one year | 42/48 | €35,414 | €23,630 | -€11,784 | -33.3% |
| Financial debts | 43 | €28 | €320 | +€292 | +1,042% |
| Credit institutions | 430/8 | €28 | €320 | +€292 | +1,042% |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €1,698 | €4,313 | +€2,615 | +154% |
| Suppliers | 440/4 | €1,698 | €4,313 | +€2,615 | +154% |
| Taxes, remuneration and social security | 45 | €11,393 | €4,878 | -€6,516 | -57.2% |
| Taxes | 450/3 | €11,393 | €4,878 | -€6,516 | -57.2% |
| Other amounts payable | 47/48 | €22,294 | €14,119 | -€8,175 | -36.7% |
| Accrued charges and deferred income | 492/3 | €1,158 | €631 | -€527 | -45.5% |
| Non-recurring operating income | 76A | €950 | €826 | -€124 | -13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,532 | €9,804 | +€2,273 | +30.2% |
| Other operating charges | 640/8 | €750 | €2,070 | +€1,320 | +176% |
| Gross operating margin | 9900 | €46,365 | €51,040 | +€4,675 | +10.1% |
| Operating profit (loss) | 9901 | €38,083 | €39,165 | +€1,082 | +2.8% |
| Financial income | 75/76B | €232 | €620 | +€388 | +168% |
| Recurring financial income | 75 | €232 | €620 | +€388 | +168% |
| Financial charges | 65/66B | €1,358 | €809 | -€549 | -40.4% |
| Recurring financial charges | 65 | €1,358 | €809 | -€549 | -40.4% |
| Profit (loss) for the period before taxes | 9903 | €36,957 | €38,976 | +€2,019 | +5.5% |
| Income taxes | 67/77 | €11,032 | €13,795 | +€2,763 | +25.0% |
| Profit (loss) for the period | 9904 | €25,925 | €25,181 | -€744 | -2.9% |
| Profit (loss) for the period to be appropriated | 9905 | €25,925 | €25,181 | -€744 | -2.9% |
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 25 October 2026 via checked.be.