Bjart: 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.
Bjart
Largest movements
- Current investments +€65,948
new in 2025: €65,948
- Cash -€61,938
down €61,938 (-76.9%), from €80,593 to €18,655
mainly Current investments (-€65,948) and Other debts (-€44,551)
- Tangible fixed assets -€4,611
down €4,611 (-15.0%), from €30,777 to €26,166
- Receivables within one year +€3,742
up €3,742 (+29.9%), from €12,524 to €16,266
of which Trade receivables: +€2,783
- Other debts -€44,551
down €44,551 (-98.3%), from €45,299 to €748
- Reserves +€44,105
up €44,105 (+86.3%), from €51,112 to €95,217
- Trade debts +€4,556
up €4,556 (+313%), from €1,456 to €6,012
- Gross operating margin -€6,280
down €6,280 (-8.9%), from €70,878 to €64,598
- Depreciation +€1,989
up €1,989 (+34.6%), from €5,743 to €7,732
- Taxes -€1,590
down €1,590 (-12.1%), from €13,131 to €11,541
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 | €124,173 | €127,425 | +€3,252 | +2.6% |
| Fixed assets | 21/28 | €30,777 | €26,166 | -€4,611 | -15.0% |
| Tangible fixed assets | 22/27 | €30,777 | €26,166 | -€4,611 | -15.0% |
| Furniture and vehicles | 24 | €30,777 | €26,166 | -€4,611 | -15.0% |
| Current assets | 29/58 | €93,396 | €101,259 | +€7,863 | +8.4% |
| Amounts receivable within one year | 40/41 | €12,524 | €16,266 | +€3,742 | +29.9% |
| Trade receivables | 40 | €12,524 | €15,307 | +€2,783 | +22.2% |
| Other amounts receivable | 41 | - | €959 | +€959 | |
| Current investments | 50/53 | - | €65,948 | +€65,948 | |
| Cash at bank and in hand | 54/58 | €80,593 | €18,655 | -€61,938 | -76.9% |
| Deferred charges and accrued income | 490/1 | €279 | €390 | +€111 | +39.8% |
| Total equity and liabilities | 10/49 | €124,173 | €127,425 | +€3,252 | +2.6% |
| Equity | 10/15 | €69,712 | €113,817 | +€44,105 | +63.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €51,112 | €95,217 | +€44,105 | +86.3% |
| Distributable reserves | 133 | €51,112 | €95,217 | +€44,105 | +86.3% |
| Amounts payable | 17/49 | €54,461 | €13,608 | -€40,853 | -75.0% |
| Amounts payable within one year | 42/48 | €54,461 | €13,608 | -€40,853 | -75.0% |
| Trade debts | 44 | €1,456 | €6,012 | +€4,556 | +313% |
| Suppliers | 440/4 | €1,456 | €6,012 | +€4,556 | +313% |
| Taxes, remuneration and social security | 45 | €7,706 | €6,848 | -€858 | -11.1% |
| Taxes | 450/3 | €7,706 | €6,848 | -€858 | -11.1% |
| Other amounts payable | 47/48 | €45,299 | €748 | -€44,551 | -98.3% |
| Non-recurring operating income | 76A | €1,810 | - | -€1,810 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,743 | €7,732 | +€1,989 | +34.6% |
| Other operating charges | 640/8 | €776 | €960 | +€184 | +23.7% |
| Gross operating margin | 9900 | €70,878 | €64,598 | -€6,280 | -8.9% |
| Operating profit (loss) | 9901 | €64,359 | €55,906 | -€8,453 | -13.1% |
| Financial charges | 65/66B | €116 | €260 | +€144 | +124% |
| Recurring financial charges | 65 | €116 | €260 | +€144 | +124% |
| Profit (loss) for the period before taxes | 9903 | €64,243 | €55,646 | -€8,597 | -13.4% |
| Income taxes | 67/77 | €13,131 | €11,541 | -€1,590 | -12.1% |
| Profit (loss) for the period | 9904 | €51,112 | €44,105 | -€7,007 | -13.7% |
| Profit (loss) for the period to be appropriated | 9905 | €51,112 | €44,105 | -€7,007 | -13.7% |
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 15 October 2026 via checked.be.