BART VAN GESTEL: 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 GESTEL
Largest movements
- Receivables within one year +€31,171
up €31,171 (+40.4%), from €77,187 to €108,357
of which Trade receivables: +€22,909
- Tangible fixed assets -€23,551
down €23,551 (-41.2%), from €57,179 to €33,628
of which Leasing and similar rights: -€50,652
- Cash +€7,875
new in 2025: €7,875
mainly Net result for the year (+€21,627) and Trade debts (+€20,181)
- Stocks and contracts +€3,991
up €3,991 (+5.3%), from €75,577 to €79,568
of which Stocks: +€2,312
- Financial fixed assets -€2,550
no longer reported in 2025 (was €2,550)
- Reserves +€21,627
up €21,627 (+29.5%), from €73,350 to €94,977
of which Distributable reserves: +€21,627
- Trade debts +€20,181
up €20,181 (+50.0%), from €40,343 to €60,524
- Debts after one year -€12,869
down €12,869 (-27.6%), from €46,566 to €33,697
- Current portion of long-term debt -€8,972
down €8,972 (-31.7%), from €28,322 to €19,349
- Depreciation -€6,755
down €6,755 (-53.1%), from €12,712 to €5,957
- Taxes +€2,651
up €2,651 (+28.2%), from €9,415 to €12,066
- Financial charges +€1,500
up €1,500 (+35.6%), from €4,215 to €5,715
- Gross operating margin -€949
down €949 (-1.5%), from €61,685 to €60,735
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 | €212,697 | €229,429 | +€16,731 | +7.9% |
| Fixed assets | 21/28 | €59,729 | €33,628 | -€26,101 | -43.7% |
| Tangible fixed assets | 22/27 | €57,179 | €33,628 | -€23,551 | -41.2% |
| Furniture and vehicles | 24 | €3,429 | €31,700 | +€28,270 | +824% |
| Leasing and similar rights | 25 | €50,652 | - | -€50,652 | |
| Other tangible fixed assets | 26 | €3,097 | €1,928 | -€1,169 | -37.7% |
| Financial fixed assets | 28 | €2,550 | - | -€2,550 | |
| Current assets | 29/58 | €152,969 | €195,801 | +€42,832 | +28.0% |
| Stocks and contracts in progress | 3 | €75,577 | €79,568 | +€3,991 | +5.3% |
| Stocks | 30/36 | €35,201 | €37,513 | +€2,312 | +6.6% |
| Contracts in progress | 37 | €40,376 | €42,055 | +€1,679 | +4.2% |
| Amounts receivable within one year | 40/41 | €77,187 | €108,357 | +€31,171 | +40.4% |
| Trade receivables | 40 | €61,706 | €84,616 | +€22,909 | +37.1% |
| Other amounts receivable | 41 | €15,481 | €23,742 | +€8,261 | +53.4% |
| Cash at bank and in hand | 54/58 | - | €7,875 | +€7,875 | |
| Deferred charges and accrued income | 490/1 | €205 | - | -€205 | |
| Total equity and liabilities | 10/49 | €212,697 | €229,429 | +€16,731 | +7.9% |
| Equity | 10/15 | €91,950 | €113,577 | +€21,627 | +23.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €73,350 | €94,977 | +€21,627 | +29.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €71,490 | €93,117 | +€21,627 | +30.3% |
| Amounts payable | 17/49 | €120,747 | €115,852 | -€4,895 | -4.1% |
| Amounts payable after more than one year | 17 | €46,566 | €33,697 | -€12,869 | -27.6% |
| Financial debts | 170/4 | €46,566 | €33,697 | -€12,869 | -27.6% |
| Amounts payable within one year | 42/48 | €74,181 | €82,155 | +€7,974 | +10.7% |
| Current portion of amounts payable after more than one year | 42 | €28,322 | €19,349 | -€8,972 | -31.7% |
| Financial debts | 43 | €1,365 | - | -€1,365 | |
| Credit institutions | 430/8 | €1,365 | - | -€1,365 | |
| Trade debts | 44 | €40,343 | €60,524 | +€20,181 | +50.0% |
| Suppliers | 440/4 | €40,343 | €60,524 | +€20,181 | +50.0% |
| Advances received on contracts in progress | 46 | €36 | €36 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €4,115 | €2,245 | -€1,870 | -45.4% |
| Taxes | 450/3 | €4,115 | €2,245 | -€1,870 | -45.4% |
| Non-recurring operating income | 76A | €18,995 | - | -€18,995 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,712 | €5,957 | -€6,755 | -53.1% |
| Other operating charges | 640/8 | €2,078 | €2,265 | +€186 | +9.0% |
| Non-recurring operating charges | 66A | - | €13,189 | +€13,189 | |
| Gross operating margin | 9900 | €61,685 | €60,735 | -€949 | -1.5% |
| Operating profit (loss) | 9901 | €46,894 | €39,325 | -€7,570 | -16.1% |
| Financial income | 75/76B | €27 | €83 | +€56 | +209% |
| Recurring financial income | 75 | €27 | €83 | +€56 | +209% |
| Financial charges | 65/66B | €4,215 | €5,715 | +€1,500 | +35.6% |
| Recurring financial charges | 65 | €4,215 | €5,715 | +€1,500 | +35.6% |
| Profit (loss) for the period before taxes | 9903 | €42,706 | €33,693 | -€9,013 | -21.1% |
| Income taxes | 67/77 | €9,415 | €12,066 | +€2,651 | +28.2% |
| Profit (loss) for the period | 9904 | €33,291 | €21,627 | -€11,664 | -35.0% |
| Profit (loss) for the period to be appropriated | 9905 | €33,291 | €21,627 | -€11,664 | -35.0% |
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 13 October 2026 via checked.be.