BART VAN PASSEL: 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 PASSEL
Largest movements
- Cash +€34,714
up €34,714 (+39.2%), from €88,480 to €123,194
mainly Other debts (+€164,349) and Net result for the year (+€113,187)
- Receivables within one year +€16,815
up €16,815 (+9.2%), from €182,772 to €199,586
of which Other amounts receivable: +€27,422
- Tangible fixed assets -€10,274
down €10,274 (-2.0%), from €516,840 to €506,566
of which Land and buildings: -€24,842
- Other debts +€164,349
up €164,349 (+416%), from €39,529 to €203,878
- Reserves -€90,691
down €90,691 (-18.1%), from €500,867 to €410,176
- Debts after one year -€41,611
down €41,611 (-23.9%), from €174,258 to €132,647
- Tax, wage and social debts +€9,539
up €9,539 (+48.1%), from €19,843 to €29,382
- Gross operating margin +€13,275
up €13,275 (+7.3%), from €180,761 to €194,036
- Taxes +€5,935
up €5,935 (+14.2%), from €41,742 to €47,677
- Financial charges -€4,693
down €4,693 (-40.1%), from €11,695 to €7,003
- Depreciation -€2,055
down €2,055 (-6.6%), from €31,205 to €29,150
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €790,451 | €831,668 | +€41,218 | +5.2% |
| Fixed assets | 21/28 | €517,020 | €506,746 | -€10,274 | -2.0% |
| Tangible fixed assets | 22/27 | €516,840 | €506,566 | -€10,274 | -2.0% |
| Land and buildings | 22 | €510,726 | €485,884 | -€24,842 | -4.9% |
| Plant, machinery and equipment | 23 | €3,228 | €5,621 | +€2,393 | +74.1% |
| Furniture and vehicles | 24 | €1,839 | €2,546 | +€707 | +38.4% |
| Other tangible fixed assets | 26 | €1,047 | €12,515 | +€11,469 | +1,096% |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €273,431 | €324,922 | +€51,491 | +18.8% |
| Amounts receivable within one year | 40/41 | €182,772 | €199,586 | +€16,815 | +9.2% |
| Trade receivables | 40 | €59,914 | €49,308 | -€10,607 | -17.7% |
| Other amounts receivable | 41 | €122,857 | €150,279 | +€27,422 | +22.3% |
| Cash at bank and in hand | 54/58 | €88,480 | €123,194 | +€34,714 | +39.2% |
| Deferred charges and accrued income | 490/1 | €2,180 | €2,142 | -€38 | -1.7% |
| Total equity and liabilities | 10/49 | €790,451 | €831,668 | +€41,218 | +5.2% |
| Equity | 10/15 | €513,267 | €422,576 | -€90,691 | -17.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €500,867 | €410,176 | -€90,691 | -18.1% |
| Distributable reserves | 133 | €500,867 | €410,176 | -€90,691 | -18.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €277,183 | €409,092 | +€131,909 | +47.6% |
| Amounts payable after more than one year | 17 | €174,258 | €132,647 | -€41,611 | -23.9% |
| Financial debts | 170/4 | €174,258 | €132,647 | -€41,611 | -23.9% |
| Amounts payable within one year | 42/48 | €102,358 | €275,709 | +€173,350 | +169% |
| Current portion of amounts payable after more than one year | 42 | €41,611 | €41,611 | = | 0.0% |
| Financial debts | 43 | €278 | €48 | -€229 | -82.6% |
| Credit institutions | 430/8 | €278 | €48 | -€229 | -82.6% |
| Trade debts | 44 | €1,098 | €789 | -€308 | -28.1% |
| Suppliers | 440/4 | €1,098 | €789 | -€308 | -28.1% |
| Taxes, remuneration and social security | 45 | €19,843 | €29,382 | +€9,539 | +48.1% |
| Taxes | 450/3 | €19,843 | €29,382 | +€9,539 | +48.1% |
| Other amounts payable | 47/48 | €39,529 | €203,878 | +€164,349 | +416% |
| Accrued charges and deferred income | 492/3 | €567 | €736 | +€170 | +29.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,205 | €29,150 | -€2,055 | -6.6% |
| Other operating charges | 640/8 | €3,719 | €3,837 | +€117 | +3.2% |
| Gross operating margin | 9900 | €180,761 | €194,036 | +€13,275 | +7.3% |
| Operating profit (loss) | 9901 | €145,837 | €161,049 | +€15,212 | +10.4% |
| Financial income | 75/76B | €4,999 | €6,818 | +€1,819 | +36.4% |
| Recurring financial income | 75 | €4,999 | €6,818 | +€1,819 | +36.4% |
| Financial charges | 65/66B | €11,695 | €7,003 | -€4,693 | -40.1% |
| Recurring financial charges | 65 | €11,695 | €7,003 | -€4,693 | -40.1% |
| Profit (loss) for the period before taxes | 9903 | €139,140 | €160,864 | +€21,724 | +15.6% |
| Income taxes | 67/77 | €41,742 | €47,677 | +€5,935 | +14.2% |
| Profit (loss) for the period | 9904 | €97,398 | €113,187 | +€15,788 | +16.2% |
| Profit (loss) for the period to be appropriated | 9905 | €97,398 | €113,187 | +€15,788 | +16.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.