Bartel: 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.
Bartel
Largest movements
- Current investments +€24,000
up €24,000 (+31.5%), from €76,220 to €100,220
- Receivables within one year +€20,445
up €20,445 (+28.2%), from €72,608 to €93,052
of which Trade receivables: +€81,902
- Cash +€19,616
up €19,616 (+12.3%), from €159,236 to €178,852
mainly Other debts (+€120,472) and Net result for the year (+€62,056)
- Tangible fixed assets -€11,216
down €11,216 (-33.1%), from €33,887 to €22,671
of which Furniture and vehicles: -€10,109
- Other debts +€120,472
up €120,472, from €0 to €120,472
- Reserves -€86,330
down €86,330 (-27.8%), from €310,858 to €224,528
- Tax, wage and social debts +€29,216
up €29,216 (+1,894%), from €1,543 to €30,759
- Debts after one year -€6,246
down €6,246 (-100%), from €6,246 to €0
- Gross operating margin +€25,104
up €25,104 (+32.1%), from €78,223 to €103,327
- Other operating charges -€10,765
down €10,765 (-94.7%), from €11,362 to €597
- Taxes +€5,878
up €5,878 (+31.6%), from €18,627 to €24,506
- Financial income -€1,976
down €1,976 (-99.9%), from €1,977 to €1
- Financial charges -€1,358
down €1,358 (-56.2%), from €2,418 to €1,060
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 | €350,610 | €403,596 | +€52,987 | +15.1% |
| Fixed assets | 21/28 | €33,887 | €22,671 | -€11,216 | -33.1% |
| Tangible fixed assets | 22/27 | €33,887 | €22,671 | -€11,216 | -33.1% |
| Land and buildings | 22 | €7,089 | €5,982 | -€1,107 | -15.6% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €26,798 | €16,689 | -€10,109 | -37.7% |
| Current assets | 29/58 | €316,723 | €380,926 | +€64,203 | +20.3% |
| Amounts receivable within one year | 40/41 | €72,608 | €93,052 | +€20,445 | +28.2% |
| Trade receivables | 40 | €10,890 | €92,792 | +€81,902 | +752% |
| Other amounts receivable | 41 | €61,718 | €260 | -€61,458 | -99.6% |
| Current investments | 50/53 | €76,220 | €100,220 | +€24,000 | +31.5% |
| Cash at bank and in hand | 54/58 | €159,236 | €178,852 | +€19,616 | +12.3% |
| Deferred charges and accrued income | 490/1 | €8,660 | €8,802 | +€142 | +1.6% |
| Total equity and liabilities | 10/49 | €350,610 | €403,596 | +€52,987 | +15.1% |
| Equity | 10/15 | €330,858 | €244,528 | -€86,330 | -26.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €310,858 | €224,528 | -€86,330 | -27.8% |
| Distributable reserves | 133 | €310,858 | €224,528 | -€86,330 | -27.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €19,752 | €159,068 | +€139,317 | +705% |
| Amounts payable after more than one year | 17 | €6,246 | €0 | -€6,246 | -100% |
| Financial debts | 170/4 | €6,246 | €0 | -€6,246 | -100% |
| Amounts payable within one year | 42/48 | €13,506 | €159,068 | +€145,562 | +1,078% |
| Current portion of amounts payable after more than one year | 42 | €9,292 | €6,246 | -€3,046 | -32.8% |
| Trade debts | 44 | €2,670 | €1,591 | -€1,080 | -40.4% |
| Suppliers | 440/4 | €2,670 | €1,591 | -€1,080 | -40.4% |
| Taxes, remuneration and social security | 45 | €1,543 | €30,759 | +€29,216 | +1,894% |
| Taxes | 450/3 | €1,543 | €30,759 | +€29,216 | +1,894% |
| Other amounts payable | 47/48 | €0 | €120,472 | +€120,472 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,250 | €15,109 | -€1,141 | -7.0% |
| Other operating charges | 640/8 | €11,362 | €597 | -€10,765 | -94.7% |
| Gross operating margin | 9900 | €78,223 | €103,327 | +€25,104 | +32.1% |
| Operating profit (loss) | 9901 | €50,611 | €87,621 | +€37,009 | +73.1% |
| Financial income | 75/76B | €1,977 | €1 | -€1,976 | -99.9% |
| Recurring financial income | 75 | €1,977 | €1 | -€1,976 | -99.9% |
| Financial charges | 65/66B | €2,418 | €1,060 | -€1,358 | -56.2% |
| Recurring financial charges | 65 | €2,418 | €1,060 | -€1,358 | -56.2% |
| Profit (loss) for the period before taxes | 9903 | €50,170 | €86,562 | +€36,392 | +72.5% |
| Income taxes | 67/77 | €18,627 | €24,506 | +€5,878 | +31.6% |
| Profit (loss) for the period | 9904 | €31,543 | €62,056 | +€30,513 | +96.7% |
| Profit (loss) for the period to be appropriated | 9905 | €31,543 | €62,056 | +€30,513 | +96.7% |
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.