Bartofisc: 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.
Bartofisc
Largest movements
- Receivables within one year -€31,941
down €31,941 (-11.8%), from €270,500 to €238,558
of which Trade receivables: -€22,558
- Tangible fixed assets -€23,028
down €23,028 (-18.3%), from €125,647 to €102,619
- Cash -€15,563
down €15,563 (-16.7%), from €92,942 to €77,380
mainly Trade debts (-€62,954) and Investment in fixed assets (net) (-€15,635)
- Trade debts -€62,954
down €62,954 (-23.3%), from €270,668 to €207,714
- Reserves +€20,545
up €20,545 (+13.5%), from €151,770 to €172,315
- Current portion of long-term debt -€12,176
down €12,176 (-83.2%), from €14,637 to €2,461
- Tax, wage and social debts -€10,091
down €10,091 (-29.3%), from €34,387 to €24,296
of which Taxes: -€10,285
- Write-downs +€19,132
no longer reported in 2025 (was -€19,132)
- Gross operating margin +€15,117
up €15,117 (+5.4%), from €281,862 to €296,979
- Staff costs +€10,020
up €10,020 (+5.1%), from €197,593 to €207,613
- Depreciation -€6,177
down €6,177 (-13.8%), from €44,840 to €38,663
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 | €500,612 | €433,816 | -€66,796 | -13.3% |
| Fixed assets | 21/28 | €125,837 | €102,809 | -€23,028 | -18.3% |
| Tangible fixed assets | 22/27 | €125,647 | €102,619 | -€23,028 | -18.3% |
| Land and buildings | 22 | €45,821 | €46,411 | +€590 | +1.3% |
| Plant, machinery and equipment | 23 | €20,350 | €14,357 | -€5,993 | -29.4% |
| Furniture and vehicles | 24 | €34,666 | €28,518 | -€6,148 | -17.7% |
| Leasing and similar rights | 25 | €24,811 | €13,333 | -€11,478 | -46.3% |
| Financial fixed assets | 28 | €190 | €190 | = | 0.0% |
| Current assets | 29/58 | €374,775 | €331,007 | -€43,768 | -11.7% |
| Amounts receivable within one year | 40/41 | €270,500 | €238,558 | -€31,941 | -11.8% |
| Trade receivables | 40 | €226,067 | €203,509 | -€22,558 | -10.0% |
| Other amounts receivable | 41 | €44,433 | €35,049 | -€9,384 | -21.1% |
| Cash at bank and in hand | 54/58 | €92,942 | €77,380 | -€15,563 | -16.7% |
| Deferred charges and accrued income | 490/1 | €11,333 | €15,069 | +€3,736 | +33.0% |
| Total equity and liabilities | 10/49 | €500,612 | €433,816 | -€66,796 | -13.3% |
| Equity | 10/15 | €171,002 | €191,549 | +€20,547 | +12.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €151,770 | €172,315 | +€20,545 | +13.5% |
| Distributable reserves | 133 | €151,770 | €172,315 | +€20,545 | +13.5% |
| Profit (loss) carried forward | 14 | €632 | €634 | +€2 | +0.4% |
| Amounts payable | 17/49 | €329,610 | €242,267 | -€87,344 | -26.5% |
| Amounts payable after more than one year | 17 | €2,461 | - | -€2,461 | |
| Financial debts | 170/4 | €2,461 | - | -€2,461 | |
| Amounts payable within one year | 42/48 | €327,149 | €242,267 | -€84,883 | -25.9% |
| Current portion of amounts payable after more than one year | 42 | €14,637 | €2,461 | -€12,176 | -83.2% |
| Trade debts | 44 | €270,668 | €207,714 | -€62,954 | -23.3% |
| Suppliers | 440/4 | €270,668 | €207,714 | -€62,954 | -23.3% |
| Taxes, remuneration and social security | 45 | €34,387 | €24,296 | -€10,091 | -29.3% |
| Taxes | 450/3 | €11,315 | €1,030 | -€10,285 | -90.9% |
| Remuneration and social security | 454/9 | €23,072 | €23,266 | +€194 | +0.8% |
| Other amounts payable | 47/48 | €7,457 | €7,795 | +€338 | +4.5% |
| Remuneration, social security and pensions | 62 | €197,593 | €207,613 | +€10,020 | +5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,840 | €38,663 | -€6,177 | -13.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€19,132 | - | +€19,132 | |
| Other operating charges | 640/8 | €4,566 | €5,370 | +€804 | +17.6% |
| Gross operating margin | 9900 | €281,862 | €296,979 | +€15,117 | +5.4% |
| Operating profit (loss) | 9901 | €53,994 | €45,333 | -€8,661 | -16.0% |
| Financial income | 75/76B | €1,439 | €1,904 | +€465 | +32.3% |
| Recurring financial income | 75 | €1,439 | €1,904 | +€465 | +32.3% |
| Financial charges | 65/66B | €2,478 | €521 | -€1,957 | -79.0% |
| Recurring financial charges | 65 | €2,478 | €521 | -€1,957 | -79.0% |
| Profit (loss) for the period before taxes | 9903 | €52,955 | €46,716 | -€6,239 | -11.8% |
| Income taxes | 67/77 | €19,850 | €18,417 | -€1,433 | -7.2% |
| Profit (loss) for the period | 9904 | €33,105 | €28,299 | -€4,806 | -14.5% |
| Profit (loss) for the period to be appropriated | 9905 | €33,105 | €28,299 | -€4,806 | -14.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.