BART VANDEREECKT: 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 VANDEREECKT
Largest movements
- Tangible fixed assets -€20,794
down €20,794 (-5.0%), from €416,162 to €395,368
of which Land and buildings: -€16,356
- Receivables within one year +€5,119
up €5,119 (+14.6%), from €35,176 to €40,296
of which Other amounts receivable: +€5,119
- Debts after one year -€18,879
down €18,879 (-5.9%), from €322,653 to €303,774
- Other debts -€16,522
down €16,522 (-87.9%), from €18,802 to €2,280
- Profit (loss) carried forward +€12,073
up €12,073, from -€12,073 to €0
- Reserves +€8,939
up €8,939 (+8.7%), from €102,192 to €111,131
of which Distributable reserves: +€8,939
- Gross operating margin +€38,185
up €38,185 (+188.0%), from €20,307 to €58,492
- Taxes +€4,848
up €4,848 (+1961.1%), from €247 to €5,095
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 | €465,444 | €452,429 | -€13,015 | -2.8% |
| Fixed assets | 21/28 | €419,867 | €399,072 | -€20,794 | -5.0% |
| Tangible fixed assets | 22/27 | €416,162 | €395,368 | -€20,794 | -5.0% |
| Land and buildings | 22 | €397,379 | €381,023 | -€16,356 | -4.1% |
| Plant, machinery and equipment | 23 | €13,168 | €10,255 | -€2,913 | -22.1% |
| Furniture and vehicles | 24 | €5,615 | €4,089 | -€1,525 | -27.2% |
| Financial fixed assets | 28 | €3,704 | €3,704 | = | 0.0% |
| Current assets | 29/58 | €45,577 | €53,356 | +€7,779 | +17.1% |
| Amounts receivable after more than one year | 29 | €10,000 | €10,000 | = | 0.0% |
| Other amounts receivable | 291 | €10,000 | €10,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €35,176 | €40,296 | +€5,119 | +14.6% |
| Trade receivables | 40 | €27,836 | €27,836 | = | 0.0% |
| Other amounts receivable | 41 | €7,341 | €12,460 | +€5,119 | +69.7% |
| Cash at bank and in hand | 54/58 | €27 | €886 | +€859 | +3210.3% |
| Deferred charges and accrued income | 490/1 | €374 | €2,175 | +€1,801 | +481.7% |
| Total equity and liabilities | 10/49 | €465,444 | €452,429 | -€13,015 | -2.8% |
| Equity | 10/15 | €102,519 | €123,531 | +€21,012 | +20.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €102,192 | €111,131 | +€8,939 | +8.7% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €100,337 | €109,276 | +€8,939 | +8.9% |
| Profit (loss) carried forward | 14 | -€12,073 | €0 | +€12,073 | |
| Amounts payable | 17/49 | €362,924 | €328,897 | -€34,027 | -9.4% |
| Amounts payable after more than one year | 17 | €322,653 | €303,774 | -€18,879 | -5.9% |
| Financial debts | 170/4 | €322,653 | €303,774 | -€18,879 | -5.9% |
| Amounts payable within one year | 42/48 | €40,271 | €25,073 | -€15,198 | -37.7% |
| Current portion of amounts payable after more than one year | 42 | €18,557 | €20,778 | +€2,222 | +12.0% |
| Financial debts | 43 | €15 | €0 | -€15 | -100.0% |
| Credit institutions | 430/8 | €15 | €0 | -€15 | -100.0% |
| Trade debts | 44 | €2,661 | €1,372 | -€1,289 | -48.4% |
| Suppliers | 440/4 | €2,661 | €1,372 | -€1,289 | -48.4% |
| Taxes, remuneration and social security | 45 | €237 | €643 | +€406 | +171.0% |
| Taxes | 450/3 | €237 | €643 | +€406 | +171.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €18,802 | €2,280 | -€16,522 | -87.9% |
| Accrued charges and deferred income | 492/3 | - | €50 | +€50 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,724 | €22,290 | +€566 | +2.6% |
| Other operating charges | 640/8 | €2,461 | €2,587 | +€126 | +5.1% |
| Gross operating margin | 9900 | €20,307 | €58,492 | +€38,185 | +188.0% |
| Operating profit (loss) | 9901 | -€3,878 | €33,616 | +€37,494 | |
| Financial income | 75/76B | €33 | €3 | -€30 | -91.0% |
| Recurring financial income | 75 | €33 | €3 | -€30 | -91.0% |
| Financial charges | 65/66B | €7,980 | €7,511 | -€469 | -5.9% |
| Recurring financial charges | 65 | €7,980 | €7,511 | -€469 | -5.9% |
| Profit (loss) for the period before taxes | 9903 | -€11,826 | €26,107 | +€37,933 | |
| Income taxes | 67/77 | €247 | €5,095 | +€4,848 | +1961.1% |
| Profit (loss) for the period | 9904 | -€12,073 | €21,012 | +€33,085 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,073 | €21,012 | +€33,085 |
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 5 October 2026 via checked.be.