BARTCONSTRUCT: 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.
BARTCONSTRUCT
Largest movements
- Tangible fixed assets +€68,855
up €68,855 (+15.8%), from €437,095 to €505,949
of which Land and buildings: +€83,233
- Cash -€45,757
down €45,757 (-38.2%), from €119,772 to €74,015
mainly Investment in fixed assets (net) (-€110,549) and Stocks and contracts (-€22,078)
- Stocks and contracts +€22,078
up €22,078 (+160.2%), from €13,778 to €35,856
of which Stocks: +€14,578
- Receivables within one year +€7,273
up €7,273 (+17.9%), from €40,643 to €47,916
of which Trade receivables: +€30,903
- Debts after one year +€32,571
up €32,571 (+9.4%), from €345,581 to €378,152
- Reserves +€19,660
up €19,660 (+16.8%), from €116,751 to €136,412
- Tax, wage and social debts +€12,131
up €12,131 (+126.7%), from €9,576 to €21,706
of which Remuneration and social security: +€9,457
- Trade debts -€7,900
down €7,900 (-31.5%), from €25,089 to €17,189
- Staff costs +€25,461
up €25,461 (+25.2%), from €101,094 to €126,555
- Gross operating margin -€9,746
down €9,746 (-4.4%), from €222,403 to €212,657
- Financial charges +€8,981
up €8,981 (+75.6%), from €11,884 to €20,865
- Taxes -€6,970
down €6,970 (-75.4%), from €9,244 to €2,275
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 | €616,419 | €671,365 | +€54,946 | +8.9% |
| Fixed assets | 21/28 | €437,895 | €506,749 | +€68,855 | +15.7% |
| Tangible fixed assets | 22/27 | €437,095 | €505,949 | +€68,855 | +15.8% |
| Land and buildings | 22 | €345,562 | €428,795 | +€83,233 | +24.1% |
| Plant, machinery and equipment | 23 | €10,570 | €15,769 | +€5,200 | +49.2% |
| Furniture and vehicles | 24 | €46,297 | €34,024 | -€12,272 | -26.5% |
| Leasing and similar rights | 25 | €34,666 | €27,361 | -€7,306 | -21.1% |
| Financial fixed assets | 28 | €800 | €800 | = | 0.0% |
| Current assets | 29/58 | €178,525 | €164,616 | -€13,909 | -7.8% |
| Stocks and contracts in progress | 3 | €13,778 | €35,856 | +€22,078 | +160.2% |
| Stocks | 30/36 | €13,778 | €28,356 | +€14,578 | +105.8% |
| Contracts in progress | 37 | - | €7,500 | +€7,500 | |
| Amounts receivable within one year | 40/41 | €40,643 | €47,916 | +€7,273 | +17.9% |
| Trade receivables | 40 | €5,094 | €35,997 | +€30,903 | +606.6% |
| Other amounts receivable | 41 | €35,549 | €11,919 | -€23,630 | -66.5% |
| Cash at bank and in hand | 54/58 | €119,772 | €74,015 | -€45,757 | -38.2% |
| Deferred charges and accrued income | 490/1 | €4,332 | €6,829 | +€2,498 | +57.7% |
| Total equity and liabilities | 10/49 | €616,419 | €671,365 | +€54,946 | +8.9% |
| Equity | 10/15 | €121,751 | €141,412 | +€19,660 | +16.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €116,751 | €136,412 | +€19,660 | +16.8% |
| Distributable reserves | 133 | €116,751 | €136,412 | +€19,660 | +16.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €494,668 | €529,954 | +€35,286 | +7.1% |
| Amounts payable after more than one year | 17 | €345,581 | €378,152 | +€32,571 | +9.4% |
| Financial debts | 170/4 | €345,581 | €378,152 | +€32,571 | +9.4% |
| Amounts payable within one year | 42/48 | €149,087 | €151,802 | +€2,715 | +1.8% |
| Current portion of amounts payable after more than one year | 42 | €20,738 | €21,467 | +€729 | +3.5% |
| Trade debts | 44 | €25,089 | €17,189 | -€7,900 | -31.5% |
| Suppliers | 440/4 | €25,089 | €17,189 | -€7,900 | -31.5% |
| Taxes, remuneration and social security | 45 | €9,576 | €21,706 | +€12,131 | +126.7% |
| Taxes | 450/3 | €4,098 | €6,771 | +€2,673 | +65.2% |
| Remuneration and social security | 454/9 | €5,478 | €14,936 | +€9,457 | +172.6% |
| Other amounts payable | 47/48 | €93,684 | €91,440 | -€2,245 | -2.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €101,094 | €126,555 | +€25,461 | +25.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,533 | €41,695 | +€161 | +0.4% |
| Other operating charges | 640/8 | €2,071 | €2,372 | +€300 | +14.5% |
| Gross operating margin | 9900 | €222,403 | €212,657 | -€9,746 | -4.4% |
| Operating profit (loss) | 9901 | €77,705 | €42,036 | -€35,670 | -45.9% |
| Financial income | 75/76B | - | €765 | +€765 | |
| Recurring financial income | 75 | - | €765 | +€765 | |
| Financial charges | 65/66B | €11,884 | €20,865 | +€8,981 | +75.6% |
| Recurring financial charges | 65 | €11,884 | €20,865 | +€8,981 | +75.6% |
| Profit (loss) for the period before taxes | 9903 | €65,821 | €21,935 | -€43,886 | -66.7% |
| Income taxes | 67/77 | €9,244 | €2,275 | -€6,970 | -75.4% |
| Profit (loss) for the period | 9904 | €56,577 | €19,660 | -€36,916 | -65.2% |
| Profit (loss) for the period to be appropriated | 9905 | €56,577 | €19,660 | -€36,916 | -65.2% |
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 6 October 2026 via checked.be.