Bart Van der Stockt: 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 der Stockt
Largest movements
- Current investments -€250,000
down €250,000 (-100%), from €250,000 to €0
- Cash -€73,540
down €73,540 (-21.5%), from €341,889 to €268,349
mainly Contributions, distributions and other (-€611,700) and Other debts (-€326,453)
- Other debts -€326,453
down €326,453 (-37.8%), from €862,525 to €536,072
- Tax, wage and social debts +€24,296
up €24,296 (+39.3%), from €61,777 to €86,073
- Debts after one year -€23,594
down €23,594 (-6.3%), from €375,223 to €351,628
- Gross operating margin +€152,367
up €152,367 (+22.5%), from €675,945 to €828,312
- Taxes +€33,240
up €33,240 (+20.0%), from €166,084 to €199,324
- Financial income -€11,823
down €11,823 (-66.2%), from €17,846 to €6,023
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 | €1,359,008 | €1,024,143 | -€334,865 | -24.6% |
| Fixed assets | 21/28 | €660,037 | €647,572 | -€12,464 | -1.9% |
| Tangible fixed assets | 22/27 | €660,037 | €647,572 | -€12,464 | -1.9% |
| Land and buildings | 22 | €658,040 | €646,040 | -€12,000 | -1.8% |
| Plant, machinery and equipment | 23 | €1,997 | €1,532 | -€464 | -23.3% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €698,971 | €376,571 | -€322,400 | -46.1% |
| Amounts receivable within one year | 40/41 | €103,094 | €105,076 | +€1,982 | +1.9% |
| Trade receivables | 40 | €103,042 | €105,076 | +€2,035 | +2.0% |
| Other amounts receivable | 41 | €52 | €0 | -€52 | -100% |
| Current investments | 50/53 | €250,000 | €0 | -€250,000 | -100% |
| Cash at bank and in hand | 54/58 | €341,889 | €268,349 | -€73,540 | -21.5% |
| Deferred charges and accrued income | 490/1 | €3,987 | €3,145 | -€842 | -21.1% |
| Total equity and liabilities | 10/49 | €1,359,008 | €1,024,143 | -€334,865 | -24.6% |
| Equity | 10/15 | €34,994 | €25,724 | -€9,270 | -26.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €16,394 | €7,124 | -€9,270 | -56.5% |
| Distributable reserves | 133 | €16,394 | €7,124 | -€9,270 | -56.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,324,014 | €998,419 | -€325,595 | -24.6% |
| Amounts payable after more than one year | 17 | €375,223 | €351,628 | -€23,594 | -6.3% |
| Financial debts | 170/4 | €375,223 | €351,628 | -€23,594 | -6.3% |
| Amounts payable within one year | 42/48 | €948,791 | €646,790 | -€302,000 | -31.8% |
| Current portion of amounts payable after more than one year | 42 | €23,341 | €23,594 | +€253 | +1.1% |
| Trade debts | 44 | €1,148 | €1,051 | -€97 | -8.4% |
| Suppliers | 440/4 | €1,148 | €1,051 | -€97 | -8.4% |
| Taxes, remuneration and social security | 45 | €61,777 | €86,073 | +€24,296 | +39.3% |
| Taxes | 450/3 | €61,777 | €86,073 | +€24,296 | +39.3% |
| Other amounts payable | 47/48 | €862,525 | €536,072 | -€326,453 | -37.8% |
| Non-recurring operating income | 76A | €3,552 | €0 | -€3,552 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,386 | €12,464 | +€78 | +0.6% |
| Other operating charges | 640/8 | €5,234 | €4,500 | -€734 | -14.0% |
| Gross operating margin | 9900 | €675,945 | €828,312 | +€152,367 | +22.5% |
| Operating profit (loss) | 9901 | €658,325 | €811,348 | +€153,023 | +23.2% |
| Financial income | 75/76B | €17,846 | €6,023 | -€11,823 | -66.2% |
| Recurring financial income | 75 | €17,846 | €6,023 | -€11,823 | -66.2% |
| Financial charges | 65/66B | €11,719 | €15,616 | +€3,898 | +33.3% |
| Recurring financial charges | 65 | €11,719 | €15,616 | +€3,898 | +33.3% |
| Profit (loss) for the period before taxes | 9903 | €664,452 | €801,755 | +€137,303 | +20.7% |
| Income taxes | 67/77 | €166,084 | €199,324 | +€33,240 | +20.0% |
| Profit (loss) for the period | 9904 | €498,368 | €602,430 | +€104,063 | +20.9% |
| Profit (loss) for the period to be appropriated | 9905 | €498,368 | €602,430 | +€104,063 | +20.9% |
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 29 October 2026 via checked.be.