DR. CASTELEIN BART: 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. CASTELEIN BART
Largest movements
- Receivables after one year +€92,000
up €92,000 (+15.2%), from €607,200 to €699,200
- Reserves +€72,107
up €72,107 (+12.6%), from €573,766 to €645,873
of which Distributable reserves: +€72,107
- Tax, wage and social debts +€16,604
up €16,604 (+257.4%), from €6,451 to €23,054
- Gross operating margin +€10,985
up €10,985 (+14.3%), from €76,906 to €87,891
- Taxes +€2,403
up €2,403 (+13.4%), from €17,951 to €20,354
- Financial income +€1,155
up €1,155 (+13.4%), from €8,643 to €9,798
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 | €607,512 | €699,320 | +€91,808 | +15.1% |
| Fixed assets | 21/28 | €120 | €120 | = | 0.0% |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €607,392 | €699,200 | +€91,808 | +15.1% |
| Amounts receivable after more than one year | 29 | €607,200 | €699,200 | +€92,000 | +15.2% |
| Other amounts receivable | 291 | €607,200 | €699,200 | +€92,000 | +15.2% |
| Amounts receivable within one year | 40/41 | €192 | €0 | -€192 | -100.0% |
| Trade receivables | 40 | €192 | €0 | -€192 | -100.0% |
| Cash at bank and in hand | 54/58 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €607,512 | €699,320 | +€91,808 | +15.1% |
| Equity | 10/15 | €586,166 | €658,273 | +€72,107 | +12.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €573,766 | €645,873 | +€72,107 | +12.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €573,766 | €645,873 | +€72,107 | +12.6% |
| Amounts payable | 17/49 | €21,346 | €41,047 | +€19,701 | +92.3% |
| Amounts payable within one year | 42/48 | €21,346 | €41,047 | +€19,701 | +92.3% |
| Financial debts | 43 | €13,625 | €14,513 | +€888 | +6.5% |
| Credit institutions | 430/8 | €13,625 | €14,513 | +€888 | +6.5% |
| Trade debts | 44 | €0 | €1,510 | +€1,510 | |
| Suppliers | 440/4 | €0 | €1,510 | +€1,510 | |
| Taxes, remuneration and social security | 45 | €6,451 | €23,054 | +€16,604 | +257.4% |
| Taxes | 450/3 | €6,451 | €23,054 | +€16,604 | +257.4% |
| Other amounts payable | 47/48 | €1,270 | €1,969 | +€699 | +55.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €2,500 | €2,502 | +€2 | +0.1% |
| Gross operating margin | 9900 | €76,906 | €87,891 | +€10,985 | +14.3% |
| Operating profit (loss) | 9901 | €74,406 | €85,389 | +€10,983 | +14.8% |
| Financial income | 75/76B | €8,643 | €9,798 | +€1,155 | +13.4% |
| Recurring financial income | 75 | €8,643 | €9,798 | +€1,155 | +13.4% |
| Financial charges | 65/66B | €1,948 | €2,727 | +€779 | +40.0% |
| Recurring financial charges | 65 | €1,948 | €2,727 | +€779 | +40.0% |
| Profit (loss) for the period before taxes | 9903 | €81,102 | €92,461 | +€11,359 | +14.0% |
| Income taxes | 67/77 | €17,951 | €20,354 | +€2,403 | +13.4% |
| Profit (loss) for the period | 9904 | €63,151 | €72,107 | +€8,956 | +14.2% |
| Profit (loss) for the period to be appropriated | 9905 | €63,151 | €72,107 | +€8,956 | +14.2% |
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 9 October 2026 via checked.be.