Bart Van Dooren: 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 Van Dooren
Largest movements
- Receivables within one year +€15,265
up €15,265 (+23.5%), from €65,094 to €80,358
- Cash +€14,397
up €14,397 (+72.3%), from €19,923 to €34,320
mainly Other debts (+€98,591) and Net result for the year (+€49,497)
- Other debts +€98,591
up €98,591, from €0 to €98,591
- Debts after one year -€52,198
down €52,198 (-51.4%), from €101,470 to €49,272
- Reserves -€27,169
down €27,169 (-6.0%), from €452,259 to €425,090
of which Tax-exempt reserves: -€84,200
- Tax, wage and social debts +€6,983
up €6,983 (+44.7%), from €15,629 to €22,611
- Gross operating margin -€7,370
down €7,370 (-8.0%), from €92,535 to €85,165
- Taxes +€5,008
up €5,008 (+16.4%), from €30,529 to €35,536
- Financial income -€1,681
down €1,681 (-28.2%), from €5,962 to €4,281
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 | €650,059 | €674,974 | +€24,914 | +3.8% |
| Fixed assets | 21/28 | €556,693 | €555,994 | -€699 | -0.1% |
| Tangible fixed assets | 22/27 | €2,453 | €1,754 | -€699 | -28.5% |
| Plant, machinery and equipment | 23 | €2,453 | €1,754 | -€699 | -28.5% |
| Financial fixed assets | 28 | €554,240 | €554,240 | = | 0.0% |
| Current assets | 29/58 | €93,366 | €118,980 | +€25,613 | +27.4% |
| Amounts receivable within one year | 40/41 | €65,094 | €80,358 | +€15,265 | +23.5% |
| Other amounts receivable | 41 | €65,094 | €80,358 | +€15,265 | +23.5% |
| Cash at bank and in hand | 54/58 | €19,923 | €34,320 | +€14,397 | +72.3% |
| Deferred charges and accrued income | 490/1 | €8,350 | €4,301 | -€4,049 | -48.5% |
| Total equity and liabilities | 10/49 | €650,059 | €674,974 | +€24,914 | +3.8% |
| Equity | 10/15 | €470,859 | €443,690 | -€27,169 | -5.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €452,259 | €425,090 | -€27,169 | -6.0% |
| Tax-exempt reserves | 132 | €84,200 | €0 | -€84,200 | -100.0% |
| Distributable reserves | 133 | €368,059 | €425,090 | +€57,031 | +15.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €179,200 | €231,284 | +€52,083 | +29.1% |
| Amounts payable after more than one year | 17 | €101,470 | €49,272 | -€52,198 | -51.4% |
| Financial debts | 170/4 | €101,470 | €49,272 | -€52,198 | -51.4% |
| Amounts payable within one year | 42/48 | €77,731 | €182,012 | +€104,281 | +134.2% |
| Current portion of amounts payable after more than one year | 42 | €51,879 | €52,198 | +€319 | +0.6% |
| Financial debts | 43 | €6,762 | €6,730 | -€33 | -0.5% |
| Credit institutions | 430/8 | €6,762 | €6,730 | -€33 | -0.5% |
| Trade debts | 44 | €3,461 | €1,882 | -€1,579 | -45.6% |
| Suppliers | 440/4 | €3,461 | €1,882 | -€1,579 | -45.6% |
| Taxes, remuneration and social security | 45 | €15,629 | €22,611 | +€6,983 | +44.7% |
| Taxes | 450/3 | €15,629 | €22,611 | +€6,983 | +44.7% |
| Other amounts payable | 47/48 | €0 | €98,591 | +€98,591 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €699 | €699 | = | 0.0% |
| Other operating charges | 640/8 | €1,305 | €840 | -€465 | -35.6% |
| Gross operating margin | 9900 | €92,535 | €85,165 | -€7,370 | -8.0% |
| Operating profit (loss) | 9901 | €90,531 | €83,626 | -€6,904 | -7.6% |
| Financial income | 75/76B | €5,962 | €4,281 | -€1,681 | -28.2% |
| Recurring financial income | 75 | €5,962 | €4,281 | -€1,681 | -28.2% |
| Financial charges | 65/66B | €3,768 | €2,874 | -€894 | -23.7% |
| Recurring financial charges | 65 | €3,768 | €2,874 | -€894 | -23.7% |
| Profit (loss) for the period before taxes | 9903 | €92,725 | €85,033 | -€7,691 | -8.3% |
| Income taxes | 67/77 | €30,529 | €35,536 | +€5,008 | +16.4% |
| Profit (loss) for the period | 9904 | €62,196 | €49,497 | -€12,699 | -20.4% |
| Transfer from tax-exempt reserves | 789 | - | €84,200 | +€84,200 | |
| Profit (loss) for the period to be appropriated | 9905 | €62,196 | €133,697 | +€71,501 | +115.0% |
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 7 October 2026 via checked.be.