BART VDK PLUS: 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 VDK PLUS
Largest movements
- Financial fixed assets -€84,000
down €84,000 (-23.8%), from €353,000 to €269,000
- Receivables within one year -€63,361
down €63,361 (-69.6%), from €90,972 to €27,611
of which Trade receivables: -€44,775
- Tangible fixed assets -€58,891
down €58,891 (-93.9%), from €62,707 to €3,816
of which Plant, machinery and equipment: -€45,620
- Cash +€32,503
up €32,503 (+473%), from €6,867 to €39,370
mainly Investment in fixed assets (net) (+€138,427) and Receivables within one year (+€63,361)
- Deferred charges and accrued income -€14,814
down €14,814 (-92.7%), from €15,984 to €1,170
- Debts after one year -€106,640
down €106,640 (-23.1%), from €461,539 to €354,899
of which Financial debts: -€131,539
- Profit (loss) carried forward -€31,752
down €31,752 (-279%), from -€11,374 to -€43,125
- Trade debts -€19,829
down €19,829 (-78.2%), from €25,353 to €5,524
of which Suppliers: -€22,514
- Accrued charges and deferred income -€17,791
no longer reported in 2025 (was €17,791)
- Tax, wage and social debts -€12,552
down €12,552 (-79.6%), from €15,761 to €3,209
- Taxes +€38,873
up €38,873 (+52,270%), from €74 to €38,947
- Other operating charges +€27,531
up €27,531 (+2,345%), from €1,174 to €28,704
- Depreciation -€21,780
down €21,780 (-83.0%), from €26,244 to €4,464
- Financial charges -€18,828
down €18,828 (-70.4%), from €26,729 to €7,901
- Financial income -€7,070
down €7,070 (-99.4%), from €7,109 to €40
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 | €529,530 | €340,968 | -€188,563 | -35.6% |
| Fixed assets | 21/28 | €415,707 | €272,816 | -€142,891 | -34.4% |
| Tangible fixed assets | 22/27 | €62,707 | €3,816 | -€58,891 | -93.9% |
| Plant, machinery and equipment | 23 | €48,216 | €2,596 | -€45,620 | -94.6% |
| Furniture and vehicles | 24 | €14,490 | €1,219 | -€13,271 | -91.6% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €353,000 | €269,000 | -€84,000 | -23.8% |
| Current assets | 29/58 | €113,824 | €68,152 | -€45,672 | -40.1% |
| Amounts receivable within one year | 40/41 | €90,972 | €27,611 | -€63,361 | -69.6% |
| Trade receivables | 40 | €70,259 | €25,484 | -€44,775 | -63.7% |
| Other amounts receivable | 41 | €20,713 | €2,127 | -€18,586 | -89.7% |
| Cash at bank and in hand | 54/58 | €6,867 | €39,370 | +€32,503 | +473% |
| Deferred charges and accrued income | 490/1 | €15,984 | €1,170 | -€14,814 | -92.7% |
| Total equity and liabilities | 10/49 | €529,530 | €340,968 | -€188,563 | -35.6% |
| Equity | 10/15 | €9,086 | -€22,665 | -€31,752 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | -€11,374 | -€43,125 | -€31,752 | -279% |
| Amounts payable | 17/49 | €520,444 | €363,633 | -€156,811 | -30.1% |
| Amounts payable after more than one year | 17 | €461,539 | €354,899 | -€106,640 | -23.1% |
| Financial debts | 170/4 | €461,539 | €330,000 | -€131,539 | -28.5% |
| Other amounts payable | 178/9 | - | €24,899 | +€24,899 | |
| Amounts payable within one year | 42/48 | €41,114 | €8,733 | -€32,381 | -78.8% |
| Trade debts | 44 | €25,353 | €5,524 | -€19,829 | -78.2% |
| Suppliers | 440/4 | €25,353 | €2,839 | -€22,514 | -88.8% |
| Bills of exchange payable | 441 | - | €2,686 | +€2,686 | |
| Taxes, remuneration and social security | 45 | €15,761 | €3,209 | -€12,552 | -79.6% |
| Taxes | 450/3 | €15,761 | €3,209 | -€12,552 | -79.6% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €17,791 | - | -€17,791 | |
| Non-recurring operating income | 76A | - | €17,571 | +€17,571 | |
| Remuneration, social security and pensions | 62 | €1,380 | - | -€1,380 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,244 | €4,464 | -€21,780 | -83.0% |
| Other operating charges | 640/8 | €1,174 | €28,704 | +€27,531 | +2,345% |
| Non-recurring operating charges | 66A | - | €1,997 | +€1,997 | |
| Gross operating margin | 9900 | €49,491 | €50,223 | +€732 | +1.5% |
| Operating profit (loss) | 9901 | €20,693 | €15,057 | -€5,636 | -27.2% |
| Financial income | 75/76B | €7,109 | €40 | -€7,070 | -99.4% |
| Recurring financial income | 75 | €7,109 | €40 | -€7,070 | -99.4% |
| Financial charges | 65/66B | €26,729 | €7,901 | -€18,828 | -70.4% |
| Recurring financial charges | 65 | €26,729 | €7,901 | -€18,828 | -70.4% |
| Profit (loss) for the period before taxes | 9903 | €1,074 | €7,196 | +€6,122 | +570% |
| Income taxes | 67/77 | €74 | €38,947 | +€38,873 | +52,270% |
| Profit (loss) for the period | 9904 | €1,000 | -€31,752 | -€32,751 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,000 | -€31,752 | -€32,751 |
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 16 October 2026 via checked.be.