BARTHECO: 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.
BARTHECO
Largest movements
- Receivables within one year +€99,538
up €99,538 (+144.2%), from €69,013 to €168,551
of which Other amounts receivable: +€99,538
- Intangible fixed assets -€42,969
down €42,969 (-36.3%), from €118,264 to €75,296
- Cash -€3,440
down €3,440 (-77.8%), from €4,421 to €981
mainly Net result for the year (-€177,863) and Receivables within one year (-€99,538)
- Profit (loss) carried forward -€177,863
down €177,863 (-45.9%), from -€387,698 to -€565,561
- Short-term financial debts +€150,000
up €150,000 (+75.0%), from €200,000 to €350,000
- Other debts +€76,328
up €76,328 (+99.9%), from €76,419 to €152,747
- Trade debts +€3,622
up €3,622 (+124.8%), from €2,903 to €6,525
- Gross operating margin +€36,286
up €36,286 (+23.2%), from -€156,323 to -€120,037
- Financial charges +€2,866
up €2,866 (+26.0%), from €11,020 to €13,886
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 | €193,624 | €245,784 | +€52,159 | +26.9% |
| Fixed assets | 21/28 | €119,758 | €76,252 | -€43,506 | -36.3% |
| Intangible fixed assets | 21 | €118,264 | €75,296 | -€42,969 | -36.3% |
| Tangible fixed assets | 22/27 | €1,494 | €956 | -€538 | -36.0% |
| Furniture and vehicles | 24 | €1,494 | €956 | -€538 | -36.0% |
| Current assets | 29/58 | €73,866 | €169,532 | +€95,666 | +129.5% |
| Amounts receivable within one year | 40/41 | €69,013 | €168,551 | +€99,538 | +144.2% |
| Trade receivables | 40 | €66,550 | €66,550 | = | 0.0% |
| Other amounts receivable | 41 | €2,463 | €102,001 | +€99,538 | +4041.7% |
| Cash at bank and in hand | 54/58 | €4,421 | €981 | -€3,440 | -77.8% |
| Deferred charges and accrued income | 490/1 | €432 | - | -€432 | |
| Total equity and liabilities | 10/49 | €193,624 | €245,784 | +€52,159 | +26.9% |
| Equity | 10/15 | -€85,698 | -€263,561 | -€177,863 | -207.5% |
| Contributions | 10/11 | €302,000 | €302,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€387,698 | -€565,561 | -€177,863 | -45.9% |
| Amounts payable | 17/49 | €279,322 | €509,344 | +€230,022 | +82.4% |
| Amounts payable within one year | 42/48 | €279,322 | €509,344 | +€230,022 | +82.4% |
| Financial debts | 43 | €200,000 | €350,000 | +€150,000 | +75.0% |
| Credit institutions | 430/8 | €200,000 | €350,000 | +€150,000 | +75.0% |
| Trade debts | 44 | €2,903 | €6,525 | +€3,622 | +124.8% |
| Suppliers | 440/4 | €2,903 | €6,525 | +€3,622 | +124.8% |
| Taxes, remuneration and social security | 45 | - | €73 | +€73 | |
| Taxes | 450/3 | - | €73 | +€73 | |
| Other amounts payable | 47/48 | €76,419 | €152,747 | +€76,328 | +99.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,088 | €43,506 | +€419 | +1.0% |
| Other operating charges | 640/8 | €542 | €520 | -€23 | -4.2% |
| Gross operating margin | 9900 | -€156,323 | -€120,037 | +€36,286 | +23.2% |
| Operating profit (loss) | 9901 | -€199,953 | -€164,063 | +€35,890 | +17.9% |
| Financial income | 75/76B | €0 | €87 | +€87 | +86580.0% |
| Recurring financial income | 75 | €0 | €87 | +€87 | +86580.0% |
| Financial charges | 65/66B | €11,020 | €13,886 | +€2,866 | +26.0% |
| Recurring financial charges | 65 | €11,020 | €13,886 | +€2,866 | +26.0% |
| Profit (loss) for the period before taxes | 9903 | -€210,973 | -€177,863 | +€33,110 | +15.7% |
| Profit (loss) for the period | 9904 | -€210,973 | -€177,863 | +€33,110 | +15.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€210,973 | -€177,863 | +€33,110 | +15.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.