DR. BART VAN ESSCHE: 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 VAN ESSCHE
Largest movements
- Receivables after one year +€175,000
up €175,000 (+35.7%), from €490,000 to €665,000
- Receivables within one year -€121,737
down €121,737 (-100%), from €121,737 to €0
- Tangible fixed assets -€18,542
down €18,542 (-82.6%), from €22,461 to €3,919
of which Furniture and vehicles: -€17,000
- Current investments +€9,529
up €9,529 (+11.8%), from €80,658 to €90,187
- Other debts +€41,070
up €41,070 (+156%), from €26,377 to €67,447
- Reserves +€23,505
up €23,505 (+7.4%), from €317,861 to €341,366
of which Distributable reserves: +€25,365
- Debts after one year -€12,927
down €12,927 (-100%), from €12,927 to €0
- Depreciation -€11,478
down €11,478 (-38.2%), from €30,020 to €18,542
- Other operating charges -€3,663
down €3,663 (-58.8%), from €6,231 to €2,569
- Taxes +€3,278
up €3,278 (+8.8%), from €37,261 to €40,539
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 | €726,223 | €770,476 | +€44,253 | +6.1% |
| Fixed assets | 21/28 | €23,502 | €4,960 | -€18,542 | -78.9% |
| Tangible fixed assets | 22/27 | €22,461 | €3,919 | -€18,542 | -82.6% |
| Plant, machinery and equipment | 23 | €3,468 | €2,425 | -€1,044 | -30.1% |
| Furniture and vehicles | 24 | €17,000 | €0 | -€17,000 | -100% |
| Other tangible fixed assets | 26 | €1,993 | €1,495 | -€498 | -25.0% |
| Financial fixed assets | 28 | €1,041 | €1,041 | = | 0.0% |
| Current assets | 29/58 | €702,721 | €765,516 | +€62,795 | +8.9% |
| Amounts receivable after more than one year | 29 | €490,000 | €665,000 | +€175,000 | +35.7% |
| Other amounts receivable | 291 | €490,000 | €665,000 | +€175,000 | +35.7% |
| Amounts receivable within one year | 40/41 | €121,737 | €0 | -€121,737 | -100% |
| Other amounts receivable | 41 | €121,737 | €0 | -€121,737 | -100% |
| Current investments | 50/53 | €80,658 | €90,187 | +€9,529 | +11.8% |
| Cash at bank and in hand | 54/58 | €10,267 | €10,268 | +€0 | 0.0% |
| Deferred charges and accrued income | 490/1 | €60 | €62 | +€2 | +3.5% |
| Total equity and liabilities | 10/49 | €726,223 | €770,476 | +€44,253 | +6.1% |
| Equity | 10/15 | €622,799 | €646,304 | +€23,505 | +3.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €317,861 | €341,366 | +€23,505 | +7.4% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €316,001 | €341,366 | +€25,365 | +8.0% |
| Profit (loss) carried forward | 14 | €292,538 | €292,538 | = | 0.0% |
| Amounts payable | 17/49 | €103,424 | €124,172 | +€20,748 | +20.1% |
| Amounts payable after more than one year | 17 | €12,927 | €0 | -€12,927 | -100% |
| Financial debts | 170/4 | €12,927 | €0 | -€12,927 | -100% |
| Amounts payable within one year | 42/48 | €90,424 | €124,145 | +€33,721 | +37.3% |
| Current portion of amounts payable after more than one year | 42 | €31,503 | €24,890 | -€6,613 | -21.0% |
| Financial debts | 43 | €3,968 | €4,205 | +€237 | +6.0% |
| Credit institutions | 430/8 | €3,968 | €4,205 | +€237 | +6.0% |
| Taxes, remuneration and social security | 45 | €28,576 | €27,603 | -€973 | -3.4% |
| Taxes | 450/3 | €24,826 | €23,800 | -€1,027 | -4.1% |
| Remuneration and social security | 454/9 | €3,750 | €3,804 | +€54 | +1.4% |
| Other amounts payable | 47/48 | €26,377 | €67,447 | +€41,070 | +156% |
| Accrued charges and deferred income | 492/3 | €74 | €28 | -€46 | -62.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,020 | €18,542 | -€11,478 | -38.2% |
| Other operating charges | 640/8 | €6,231 | €2,569 | -€3,663 | -58.8% |
| Gross operating margin | 9900 | €137,379 | €138,494 | +€1,115 | +0.8% |
| Operating profit (loss) | 9901 | €101,127 | €117,384 | +€16,256 | +16.1% |
| Financial income | 75/76B | €14,230 | €15,530 | +€1,300 | +9.1% |
| Recurring financial income | 75 | €14,230 | €15,530 | +€1,300 | +9.1% |
| Financial charges | 65/66B | €2,375 | €2,204 | -€171 | -7.2% |
| Recurring financial charges | 65 | €2,375 | €2,204 | -€171 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | €112,981 | €130,709 | +€17,728 | +15.7% |
| Income taxes | 67/77 | €37,261 | €40,539 | +€3,278 | +8.8% |
| Profit (loss) for the period | 9904 | €75,720 | €90,170 | +€14,450 | +19.1% |
| Profit (loss) for the period to be appropriated | 9905 | €75,720 | €90,170 | +€14,450 | +19.1% |
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.