Bart van der vekens: 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 vekens
Largest movements
- Current investments +€46,808
new in 2025: €46,808
- Cash -€40,002
no longer reported in 2025 (was €40,002)
mainly Current investments (-€46,808) and Other debts (-€6,027)
- Receivables within one year -€8,718
down €8,718 (-64.3%), from €13,553 to €4,835
of which Trade receivables: -€10,088
- Tangible fixed assets -€5,429
down €5,429 (-24.1%), from €22,530 to €17,101
- Other debts -€6,027
down €6,027 (-44.2%), from €13,635 to €7,608
- Reserves -€5,314
down €5,314 (-9.0%), from €58,778 to €53,464
- Tax, wage and social debts +€2,544
up €2,544 (+877%), from €290 to €2,834
- Trade debts +€1,522
up €1,522 (+911%), from €167 to €1,689
- Gross operating margin -€31,240
down €31,240 (-92.6%), from €33,730 to €2,490
- Taxes -€7,744
no longer reported in 2025 (was €7,744)
- Depreciation -€1,929
down €1,929 (-21.6%), from €8,927 to €6,998
- Other operating charges +€339
up €339 (+85.8%), from €395 to €734
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 | €76,370 | €69,095 | -€7,275 | -9.5% |
| Fixed assets | 21/28 | €22,530 | €17,101 | -€5,429 | -24.1% |
| Tangible fixed assets | 22/27 | €22,530 | €17,101 | -€5,429 | -24.1% |
| Furniture and vehicles | 24 | €22,530 | €17,101 | -€5,429 | -24.1% |
| Current assets | 29/58 | €53,840 | €51,994 | -€1,846 | -3.4% |
| Stocks and contracts in progress | 3 | €52 | €95 | +€43 | +82.7% |
| Stocks | 30/36 | €52 | €95 | +€43 | +82.7% |
| Amounts receivable within one year | 40/41 | €13,553 | €4,835 | -€8,718 | -64.3% |
| Trade receivables | 40 | €10,088 | - | -€10,088 | |
| Other amounts receivable | 41 | €3,465 | €4,835 | +€1,370 | +39.5% |
| Current investments | 50/53 | - | €46,808 | +€46,808 | |
| Cash at bank and in hand | 54/58 | €40,002 | - | -€40,002 | |
| Deferred charges and accrued income | 490/1 | €233 | €256 | +€23 | +9.9% |
| Total equity and liabilities | 10/49 | €76,370 | €69,095 | -€7,275 | -9.5% |
| Equity | 10/15 | €62,278 | €56,964 | -€5,314 | -8.5% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €58,778 | €53,464 | -€5,314 | -9.0% |
| Distributable reserves | 133 | €58,778 | €53,464 | -€5,314 | -9.0% |
| Amounts payable | 17/49 | €14,092 | €12,131 | -€1,961 | -13.9% |
| Amounts payable within one year | 42/48 | €14,092 | €12,131 | -€1,961 | -13.9% |
| Trade debts | 44 | €167 | €1,689 | +€1,522 | +911% |
| Suppliers | 440/4 | €167 | €1,689 | +€1,522 | +911% |
| Taxes, remuneration and social security | 45 | €290 | €2,834 | +€2,544 | +877% |
| Taxes | 450/3 | €290 | €2,834 | +€2,544 | +877% |
| Other amounts payable | 47/48 | €13,635 | €7,608 | -€6,027 | -44.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,927 | €6,998 | -€1,929 | -21.6% |
| Other operating charges | 640/8 | €395 | €734 | +€339 | +85.8% |
| Gross operating margin | 9900 | €33,730 | €2,490 | -€31,240 | -92.6% |
| Operating profit (loss) | 9901 | €24,408 | -€5,242 | -€29,650 | |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €55 | €72 | +€17 | +30.9% |
| Recurring financial charges | 65 | €55 | €72 | +€17 | +30.9% |
| Profit (loss) for the period before taxes | 9903 | €24,354 | -€5,314 | -€29,668 | |
| Income taxes | 67/77 | €7,744 | - | -€7,744 | |
| Profit (loss) for the period | 9904 | €16,610 | -€5,314 | -€21,924 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,610 | -€5,314 | -€21,924 |
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.