BARTOLE: 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.
BARTOLE
Largest movements
- Tangible fixed assets +€117,665
up €117,665 (+24.1%), from €487,823 to €605,488
of which Furniture and vehicles: +€108,952
- Cash -€66,905
down €66,905 (-27.8%), from €241,043 to €174,138
mainly Contributions, distributions and other (-€186,025) and Investment in fixed assets (net) (-€172,568)
- Reserves -€94,782
down €94,782 (-27.3%), from €347,410 to €252,628
- Other debts +€71,850
up €71,850 (+114.1%), from €62,978 to €134,828
- Debts after one year +€40,835
up €40,835 (+17.0%), from €240,228 to €281,063
- Current portion of long-term debt +€22,155
up €22,155 (+49.5%), from €44,752 to €66,907
- Tax, wage and social debts +€8,630
up €8,630 (+38.6%), from €22,363 to €30,994
- Gross operating margin +€45,720
up €45,720 (+34.4%), from €133,089 to €178,810
- Depreciation +€20,698
up €20,698 (+60.5%), from €34,206 to €54,904
- Taxes +€7,762
up €7,762 (+40.1%), from €19,378 to €27,140
- Financial income -€1,931
down €1,931 (-61.9%), from €3,120 to €1,190
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 | €742,578 | €793,147 | +€50,568 | +6.8% |
| Fixed assets | 21/28 | €487,823 | €605,488 | +€117,665 | +24.1% |
| Tangible fixed assets | 22/27 | €487,823 | €605,488 | +€117,665 | +24.1% |
| Land and buildings | 22 | €477,419 | €487,218 | +€9,800 | +2.1% |
| Plant, machinery and equipment | 23 | €8,301 | €7,214 | -€1,087 | -13.1% |
| Furniture and vehicles | 24 | €1,403 | €110,355 | +€108,952 | +7764.7% |
| Other tangible fixed assets | 26 | €700 | €700 | = | 0.0% |
| Current assets | 29/58 | €254,755 | €187,659 | -€67,096 | -26.3% |
| Amounts receivable within one year | 40/41 | €12,700 | €12,152 | -€549 | -4.3% |
| Trade receivables | 40 | €12,078 | €12,152 | +€73 | +0.6% |
| Other amounts receivable | 41 | €622 | - | -€622 | |
| Cash at bank and in hand | 54/58 | €241,043 | €174,138 | -€66,905 | -27.8% |
| Deferred charges and accrued income | 490/1 | €1,012 | €1,369 | +€357 | +35.3% |
| Total equity and liabilities | 10/49 | €742,578 | €793,147 | +€50,568 | +6.8% |
| Equity | 10/15 | €359,810 | €265,028 | -€94,782 | -26.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €347,410 | €252,628 | -€94,782 | -27.3% |
| Distributable reserves | 133 | €347,410 | €252,628 | -€94,782 | -27.3% |
| Amounts payable | 17/49 | €382,768 | €528,119 | +€145,350 | +38.0% |
| Amounts payable after more than one year | 17 | €240,228 | €281,063 | +€40,835 | +17.0% |
| Financial debts | 170/4 | €240,228 | €281,063 | +€40,835 | +17.0% |
| Amounts payable within one year | 42/48 | €142,540 | €247,055 | +€104,515 | +73.3% |
| Current portion of amounts payable after more than one year | 42 | €44,752 | €66,907 | +€22,155 | +49.5% |
| Trade debts | 44 | €12,447 | €14,327 | +€1,880 | +15.1% |
| Suppliers | 440/4 | €12,447 | €14,327 | +€1,880 | +15.1% |
| Taxes, remuneration and social security | 45 | €22,363 | €30,994 | +€8,630 | +38.6% |
| Taxes | 450/3 | €22,363 | €30,994 | +€8,630 | +38.6% |
| Other amounts payable | 47/48 | €62,978 | €134,828 | +€71,850 | +114.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,206 | €54,904 | +€20,698 | +60.5% |
| Other operating charges | 640/8 | €2,285 | €1,573 | -€712 | -31.2% |
| Non-recurring operating charges | 66A | €18 | - | -€18 | |
| Gross operating margin | 9900 | €133,089 | €178,810 | +€45,720 | +34.4% |
| Operating profit (loss) | 9901 | €96,581 | €122,333 | +€25,752 | +26.7% |
| Financial income | 75/76B | €3,120 | €1,190 | -€1,931 | -61.9% |
| Recurring financial income | 75 | €3,120 | €1,190 | -€1,931 | -61.9% |
| Financial charges | 65/66B | €6,255 | €5,140 | -€1,115 | -17.8% |
| Recurring financial charges | 65 | €4,837 | €5,140 | +€303 | +6.3% |
| Non-recurring financial charges | 66B | €1,418 | - | -€1,418 | |
| Profit (loss) for the period before taxes | 9903 | €93,446 | €118,383 | +€24,937 | +26.7% |
| Income taxes | 67/77 | €19,378 | €27,140 | +€7,762 | +40.1% |
| Profit (loss) for the period | 9904 | €74,068 | €91,243 | +€17,175 | +23.2% |
| Profit (loss) for the period to be appropriated | 9905 | €74,068 | €91,243 | +€17,175 | +23.2% |
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.