Bart Van Kerckhoven: 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 Kerckhoven
Largest movements
- Cash -€45,874
down €45,874 (-51.4%), from €89,289 to €43,415
mainly Tax, wage and social debts (-€30,737) and Other debts (-€9,820)
- Receivables within one year +€5,285
new in 2025: €5,285
- Tangible fixed assets -€1,503
down €1,503 (-41.7%), from €3,602 to €2,099
- Tax, wage and social debts -€30,737
down €30,737 (-70.7%), from €43,497 to €12,760
- Other debts -€9,820
no longer reported in 2025 (was €9,820)
- Trade debts -€3,733
down €3,733 (-26.1%), from €14,281 to €10,547
- Profit (loss) carried forward +€2,823
up €2,823 (+10.1%), from €27,846 to €30,669
- Gross operating margin -€23,733
down €23,733 (-76.2%), from €31,165 to €7,432
- Taxes -€4,697
down €4,697 (-69.7%), from €6,743 to €2,045
- Other operating charges +€1,003
new in 2025: €1,003
- Depreciation +€831
up €831 (+124%), from €672 to €1,503
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 | €99,318 | €57,851 | -€41,467 | -41.8% |
| Fixed assets | 21/28 | €10,029 | €8,526 | -€1,503 | -15.0% |
| Tangible fixed assets | 22/27 | €3,602 | €2,099 | -€1,503 | -41.7% |
| Plant, machinery and equipment | 23 | €3,602 | €2,099 | -€1,503 | -41.7% |
| Financial fixed assets | 28 | €6,427 | €6,427 | = | 0.0% |
| Current assets | 29/58 | €89,289 | €49,325 | -€39,964 | -44.8% |
| Amounts receivable within one year | 40/41 | - | €5,285 | +€5,285 | |
| Other amounts receivable | 41 | - | €5,285 | +€5,285 | |
| Cash at bank and in hand | 54/58 | €89,289 | €43,415 | -€45,874 | -51.4% |
| Deferred charges and accrued income | 490/1 | - | €625 | +€625 | |
| Total equity and liabilities | 10/49 | €99,318 | €57,851 | -€41,467 | -41.8% |
| Equity | 10/15 | €29,846 | €32,669 | +€2,823 | +9.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,846 | €30,669 | +€2,823 | +10.1% |
| Amounts payable | 17/49 | €69,472 | €25,182 | -€44,290 | -63.8% |
| Amounts payable within one year | 42/48 | €67,597 | €23,307 | -€44,290 | -65.5% |
| Trade debts | 44 | €14,281 | €10,547 | -€3,733 | -26.1% |
| Suppliers | 440/4 | €14,281 | €10,547 | -€3,733 | -26.1% |
| Taxes, remuneration and social security | 45 | €43,497 | €12,760 | -€30,737 | -70.7% |
| Taxes | 450/3 | €43,497 | €12,760 | -€30,737 | -70.7% |
| Other amounts payable | 47/48 | €9,820 | - | -€9,820 | |
| Accrued charges and deferred income | 492/3 | €1,875 | €1,875 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €672 | €1,503 | +€831 | +124% |
| Other operating charges | 640/8 | - | €1,003 | +€1,003 | |
| Gross operating margin | 9900 | €31,165 | €7,432 | -€23,733 | -76.2% |
| Operating profit (loss) | 9901 | €30,494 | €4,926 | -€25,568 | -83.8% |
| Financial charges | 65/66B | €81 | €57 | -€23 | -29.1% |
| Recurring financial charges | 65 | €81 | €57 | -€23 | -29.1% |
| Profit (loss) for the period before taxes | 9903 | €30,413 | €4,869 | -€25,544 | -84.0% |
| Income taxes | 67/77 | €6,743 | €2,045 | -€4,697 | -69.7% |
| Profit (loss) for the period | 9904 | €23,670 | €2,823 | -€20,847 | -88.1% |
| Profit (loss) for the period to be appropriated | 9905 | €23,670 | €2,823 | -€20,847 | -88.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.