Dr. Bart EVENS: 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.
Dr. Bart EVENS
Largest movements
- Tangible fixed assets -€26,225
down €26,225 (-8.1%), from €322,333 to €296,109
of which Furniture and vehicles: -€16,031
- Receivables within one year +€22,796
up €22,796 (+69.6%), from €32,771 to €55,566
of which Trade receivables: +€14,382
- Cash -€20,067
down €20,067 (-21.8%), from €92,182 to €72,114
mainly Contributions, distributions and other (-€140,000) and Other debts (-€23,328)
- Reserves +€25,909
up €25,909 (+58.9%), from €44,000 to €69,909
- Other debts -€23,328
down €23,328 (-14.3%), from €163,328 to €140,000
- Debts after one year -€21,940
down €21,940 (-9.4%), from €232,814 to €210,873
- Current portion of long-term debt -€13,444
down €13,444 (-38.0%), from €35,385 to €21,940
- Tax, wage and social debts +€6,826
up €6,826 (+571.8%), from €1,194 to €8,019
- Gross operating margin +€19,479
up €19,479 (+8.4%), from €231,457 to €250,936
- Taxes +€5,047
up €5,047 (+10.8%), from €46,792 to €51,839
- Other operating charges -€2,894
down €2,894 (-55.7%), from €5,199 to €2,304
- Depreciation +€2,819
up €2,819 (+11.9%), from €23,726 to €26,545
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 | €499,992 | €474,633 | -€25,359 | -5.1% |
| Fixed assets | 21/28 | €322,333 | €296,109 | -€26,225 | -8.1% |
| Tangible fixed assets | 22/27 | €322,333 | €296,109 | -€26,225 | -8.1% |
| Land and buildings | 22 | €261,990 | €252,469 | -€9,521 | -3.6% |
| Plant, machinery and equipment | 23 | €1,292 | €619 | -€674 | -52.1% |
| Furniture and vehicles | 24 | €56,331 | €40,300 | -€16,031 | -28.5% |
| Other tangible fixed assets | 26 | €2,720 | €2,720 | = | 0.0% |
| Current assets | 29/58 | €177,658 | €178,524 | +€866 | +0.5% |
| Amounts receivable after more than one year | 29 | €50,000 | €50,000 | = | 0.0% |
| Other amounts receivable | 291 | €50,000 | €50,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €32,771 | €55,566 | +€22,796 | +69.6% |
| Trade receivables | 40 | €20,050 | €34,431 | +€14,382 | +71.7% |
| Other amounts receivable | 41 | €12,721 | €21,135 | +€8,414 | +66.1% |
| Cash at bank and in hand | 54/58 | €92,182 | €72,114 | -€20,067 | -21.8% |
| Deferred charges and accrued income | 490/1 | €2,706 | €843 | -€1,863 | -68.8% |
| Total equity and liabilities | 10/49 | €499,992 | €474,633 | -€25,359 | -5.1% |
| Equity | 10/15 | €62,550 | €88,459 | +€25,909 | +41.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €44,000 | €69,909 | +€25,909 | +58.9% |
| Distributable reserves | 133 | €44,000 | €69,909 | +€25,909 | +58.9% |
| Amounts payable | 17/49 | €437,442 | €386,174 | -€51,268 | -11.7% |
| Amounts payable after more than one year | 17 | €232,814 | €210,873 | -€21,940 | -9.4% |
| Financial debts | 170/4 | €232,814 | €210,873 | -€21,940 | -9.4% |
| Amounts payable within one year | 42/48 | €204,266 | €174,713 | -€29,553 | -14.5% |
| Current portion of amounts payable after more than one year | 42 | €35,385 | €21,940 | -€13,444 | -38.0% |
| Trade debts | 44 | €4,360 | €4,753 | +€394 | +9.0% |
| Suppliers | 440/4 | €4,360 | €4,753 | +€394 | +9.0% |
| Taxes, remuneration and social security | 45 | €1,194 | €8,019 | +€6,826 | +571.8% |
| Taxes | 450/3 | €1,194 | €8,019 | +€6,826 | +571.8% |
| Other amounts payable | 47/48 | €163,328 | €140,000 | -€23,328 | -14.3% |
| Accrued charges and deferred income | 492/3 | €362 | €587 | +€226 | +62.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,726 | €26,545 | +€2,819 | +11.9% |
| Other operating charges | 640/8 | €5,199 | €2,304 | -€2,894 | -55.7% |
| Gross operating margin | 9900 | €231,457 | €250,936 | +€19,479 | +8.4% |
| Operating profit (loss) | 9901 | €202,533 | €222,087 | +€19,554 | +9.7% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €5,413 | €4,340 | -€1,073 | -19.8% |
| Recurring financial charges | 65 | €5,413 | €4,340 | -€1,073 | -19.8% |
| Profit (loss) for the period before taxes | 9903 | €197,120 | €217,747 | +€20,627 | +10.5% |
| Income taxes | 67/77 | €46,792 | €51,839 | +€5,047 | +10.8% |
| Profit (loss) for the period | 9904 | €150,328 | €165,909 | +€15,580 | +10.4% |
| Profit (loss) for the period to be appropriated | 9905 | €150,328 | €165,909 | +€15,580 | +10.4% |
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.