DE BARTHOEVE: 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.
DE BARTHOEVE
Largest movements
- Cash -€26,901
down €26,901 (-8.7%), from €308,275 to €281,374
mainly Other debts (-€43,003) and Investment in fixed assets (net) (-€32,228)
- Stocks and contracts -€11,713
down €11,713 (-9.7%), from €120,540 to €108,827
- Deferred charges and accrued income +€6,871
up €6,871 (+92.3%), from €7,445 to €14,316
- Tangible fixed assets +€6,464
up €6,464 (+3.3%), from €196,428 to €202,893
of which Plant, machinery and equipment: +€18,842
- Other debts -€43,003
down €43,003 (-41.5%), from €103,670 to €60,668
- Reserves +€35,019
up €35,019 (+11.0%), from €319,502 to €354,522
- Debts after one year -€19,931
down €19,931 (-18.1%), from €110,144 to €90,213
- Trade debts +€8,856
up €8,856 (+27.8%), from €31,891 to €40,747
- Gross operating margin -€73,359
down €73,359 (-33.9%), from €216,562 to €143,203
- Taxes -€17,127
down €17,127 (-53.9%), from €31,775 to €14,648
- Depreciation -€7,418
down €7,418 (-22.4%), from €33,181 to €25,763
- Staff costs -€5,439
down €5,439 (-9.9%), from €54,835 to €49,396
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 | €637,743 | €616,263 | -€21,481 | -3.4% |
| Fixed assets | 21/28 | €196,428 | €202,893 | +€6,464 | +3.3% |
| Tangible fixed assets | 22/27 | €196,428 | €202,893 | +€6,464 | +3.3% |
| Land and buildings | 22 | €179,383 | €167,997 | -€11,387 | -6.3% |
| Plant, machinery and equipment | 23 | €14,072 | €32,914 | +€18,842 | +134% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Assets under construction and advance payments | 27 | €2,973 | €1,982 | -€991 | -33.3% |
| Current assets | 29/58 | €441,315 | €413,370 | -€27,945 | -6.3% |
| Stocks and contracts in progress | 3 | €120,540 | €108,827 | -€11,713 | -9.7% |
| Stocks | 30/36 | €120,540 | €108,827 | -€11,713 | -9.7% |
| Amounts receivable within one year | 40/41 | €5,055 | €8,852 | +€3,798 | +75.1% |
| Trade receivables | 40 | €4,010 | €8,852 | +€4,842 | +121% |
| Other amounts receivable | 41 | €1,045 | €0 | -€1,045 | -100% |
| Cash at bank and in hand | 54/58 | €308,275 | €281,374 | -€26,901 | -8.7% |
| Deferred charges and accrued income | 490/1 | €7,445 | €14,316 | +€6,871 | +92.3% |
| Total equity and liabilities | 10/49 | €637,743 | €616,263 | -€21,481 | -3.4% |
| Equity | 10/15 | €338,102 | €373,122 | +€35,019 | +10.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €319,502 | €354,522 | +€35,019 | +11.0% |
| Distributable reserves | 133 | €319,502 | €354,522 | +€35,019 | +11.0% |
| Amounts payable | 17/49 | €299,641 | €243,141 | -€56,500 | -18.9% |
| Amounts payable after more than one year | 17 | €110,144 | €90,213 | -€19,931 | -18.1% |
| Financial debts | 170/4 | €110,144 | €90,213 | -€19,931 | -18.1% |
| Amounts payable within one year | 42/48 | €189,497 | €152,928 | -€36,569 | -19.3% |
| Current portion of amounts payable after more than one year | 42 | €22,464 | €19,938 | -€2,525 | -11.2% |
| Trade debts | 44 | €31,891 | €40,747 | +€8,856 | +27.8% |
| Suppliers | 440/4 | €31,891 | €40,747 | +€8,856 | +27.8% |
| Taxes, remuneration and social security | 45 | €31,472 | €31,574 | +€103 | +0.3% |
| Taxes | 450/3 | €22,821 | €24,032 | +€1,212 | +5.3% |
| Remuneration and social security | 454/9 | €8,651 | €7,542 | -€1,109 | -12.8% |
| Other amounts payable | 47/48 | €103,670 | €60,668 | -€43,003 | -41.5% |
| Remuneration, social security and pensions | 62 | €54,835 | €49,396 | -€5,439 | -9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,181 | €25,763 | -€7,418 | -22.4% |
| Other operating charges | 640/8 | €13,797 | €14,209 | +€412 | +3.0% |
| Gross operating margin | 9900 | €216,562 | €143,203 | -€73,359 | -33.9% |
| Operating profit (loss) | 9901 | €114,749 | €53,835 | -€60,914 | -53.1% |
| Financial income | 75/76B | €5 | €5 | -€0 | -4.8% |
| Recurring financial income | 75 | €5 | €5 | -€0 | -4.8% |
| Financial charges | 65/66B | €3,273 | €4,172 | +€900 | +27.5% |
| Recurring financial charges | 65 | €3,273 | €4,172 | +€900 | +27.5% |
| Profit (loss) for the period before taxes | 9903 | €111,481 | €49,668 | -€61,814 | -55.4% |
| Income taxes | 67/77 | €31,775 | €14,648 | -€17,127 | -53.9% |
| Profit (loss) for the period | 9904 | €79,706 | €35,019 | -€44,687 | -56.1% |
| Profit (loss) for the period to be appropriated | 9905 | €79,706 | €35,019 | -€44,687 | -56.1% |
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 24 October 2026 via checked.be.