Dr. Bart Vander Putten: 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 Vander Putten
Largest movements
- Receivables within one year +€82,999
up €82,999 (+42.8%), from €193,878 to €276,876
of which Other amounts receivable: +€91,926
- Cash +€17,658
up €17,658 (+95.4%), from €18,514 to €36,172
mainly Net result for the year (+€94,556) and Depreciation (+€16,733)
- Tangible fixed assets -€16,733
down €16,733 (-44.1%), from €37,907 to €21,174
of which Furniture and vehicles: -€16,550
- Profit (loss) carried forward +€94,556
up €94,556 (+62.9%), from €150,284 to €244,840
- Debts after one year -€16,253
down €16,253 (-79.9%), from €20,334 to €4,081
- Financial income +€3,645
up €3,645 (+41.6%), from €8,757 to €12,403
- Gross operating margin -€2,794
down €2,794 (-2.2%), from €129,508 to €126,714
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 | €280,391 | €364,223 | +€83,831 | +29.9% |
| Fixed assets | 21/28 | €37,907 | €21,174 | -€16,733 | -44.1% |
| Tangible fixed assets | 22/27 | €37,907 | €21,174 | -€16,733 | -44.1% |
| Plant, machinery and equipment | 23 | €183 | €0 | -€183 | -100.0% |
| Furniture and vehicles | 24 | €37,724 | €21,174 | -€16,550 | -43.9% |
| Current assets | 29/58 | €242,484 | €343,048 | +€100,565 | +41.5% |
| Amounts receivable after more than one year | 29 | €30,000 | €30,000 | = | 0.0% |
| Other amounts receivable | 291 | €30,000 | €30,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €193,878 | €276,876 | +€82,999 | +42.8% |
| Trade receivables | 40 | €24,666 | €15,738 | -€8,928 | -36.2% |
| Other amounts receivable | 41 | €169,212 | €261,138 | +€91,926 | +54.3% |
| Cash at bank and in hand | 54/58 | €18,514 | €36,172 | +€17,658 | +95.4% |
| Deferred charges and accrued income | 490/1 | €92 | €0 | -€92 | -100.0% |
| Total equity and liabilities | 10/49 | €280,391 | €364,223 | +€83,831 | +29.9% |
| Equity | 10/15 | €226,169 | €320,725 | +€94,556 | +41.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €73,385 | €73,385 | = | 0.0% |
| Distributable reserves | 133 | €73,385 | €73,385 | = | 0.0% |
| Profit (loss) carried forward | 14 | €150,284 | €244,840 | +€94,556 | +62.9% |
| Amounts payable | 17/49 | €54,222 | €43,497 | -€10,725 | -19.8% |
| Amounts payable after more than one year | 17 | €20,334 | €4,081 | -€16,253 | -79.9% |
| Financial debts | 170/4 | €20,334 | €4,081 | -€16,253 | -79.9% |
| Amounts payable within one year | 42/48 | €33,888 | €38,896 | +€5,008 | +14.8% |
| Current portion of amounts payable after more than one year | 42 | €16,136 | €16,253 | +€117 | +0.7% |
| Trade debts | 44 | €1,794 | €4,801 | +€3,006 | +167.5% |
| Suppliers | 440/4 | €1,794 | €4,801 | +€3,006 | +167.5% |
| Taxes, remuneration and social security | 45 | €15,957 | €17,843 | +€1,885 | +11.8% |
| Taxes | 450/3 | €15,957 | €17,843 | +€1,885 | +11.8% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | - | €520 | +€520 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,604 | €16,733 | +€129 | +0.8% |
| Other operating charges | 640/8 | €1,891 | €1,009 | -€882 | -46.6% |
| Gross operating margin | 9900 | €129,508 | €126,714 | -€2,794 | -2.2% |
| Operating profit (loss) | 9901 | €111,012 | €108,972 | -€2,040 | -1.8% |
| Financial income | 75/76B | €8,757 | €12,403 | +€3,645 | +41.6% |
| Recurring financial income | 75 | €8,757 | €12,403 | +€3,645 | +41.6% |
| Financial charges | 65/66B | €422 | €426 | +€4 | +0.9% |
| Recurring financial charges | 65 | €422 | €426 | +€4 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | €119,347 | €120,949 | +€1,601 | +1.3% |
| Income taxes | 67/77 | €26,036 | €26,393 | +€357 | +1.4% |
| Profit (loss) for the period | 9904 | €93,312 | €94,556 | +€1,244 | +1.3% |
| Profit (loss) for the period to be appropriated | 9905 | €93,312 | €94,556 | +€1,244 | +1.3% |
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 11 October 2026 via checked.be.