Dr. Vincent Bafort: 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. Vincent Bafort
Largest movements
- Current investments +€40,000
new in 2025: €40,000
- Deferred charges and accrued income +€21,353
up €21,353 (+590%), from €3,619 to €24,972
- Cash +€5,038
up €5,038 (+18.7%), from €26,967 to €32,005
mainly Net result for the year (+€67,605) and Depreciation (+€1,156)
- Receivables within one year +€2,223
up €2,223 (+372%), from €597 to €2,820
of which Other amounts receivable: +€1,801
- Profit (loss) carried forward +€67,605
up €67,605 (+391%), from €17,288 to €84,893
- Gross operating margin +€64,371
up €64,371 (+291%), from €22,159 to €86,530
- Taxes +€12,621
up €12,621 (+266%), from €4,753 to €17,374
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 | €35,643 | €103,101 | +€67,458 | +189% |
| Formation expenses | 20 | €1,259 | €979 | -€280 | -22.2% |
| Fixed assets | 21/28 | €3,201 | €2,325 | -€876 | -27.4% |
| Tangible fixed assets | 22/27 | €3,201 | €2,325 | -€876 | -27.4% |
| Plant, machinery and equipment | 23 | €3,201 | €2,325 | -€876 | -27.4% |
| Current assets | 29/58 | €31,183 | €99,797 | +€68,614 | +220% |
| Amounts receivable within one year | 40/41 | €597 | €2,820 | +€2,223 | +372% |
| Trade receivables | 40 | - | €422 | +€422 | |
| Other amounts receivable | 41 | €597 | €2,398 | +€1,801 | +302% |
| Current investments | 50/53 | - | €40,000 | +€40,000 | |
| Cash at bank and in hand | 54/58 | €26,967 | €32,005 | +€5,038 | +18.7% |
| Deferred charges and accrued income | 490/1 | €3,619 | €24,972 | +€21,353 | +590% |
| Total equity and liabilities | 10/49 | €35,643 | €103,101 | +€67,458 | +189% |
| Equity | 10/15 | €18,788 | €86,393 | +€67,605 | +360% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,288 | €84,893 | +€67,605 | +391% |
| Amounts payable | 17/49 | €16,855 | €16,709 | -€146 | -0.9% |
| Amounts payable after more than one year | 17 | €15,000 | €15,000 | = | 0.0% |
| Financial debts | 170/4 | €15,000 | €15,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,855 | €1,709 | -€146 | -7.9% |
| Financial debts | 43 | €12 | - | -€12 | |
| Credit institutions | 430/8 | €12 | - | -€12 | |
| Trade debts | 44 | €1,090 | €1,709 | +€618 | +56.7% |
| Suppliers | 440/4 | €1,090 | €1,709 | +€618 | +56.7% |
| Taxes, remuneration and social security | 45 | €753 | - | -€753 | |
| Taxes | 450/3 | €753 | - | -€753 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €386 | €1,156 | +€770 | +200% |
| Other operating charges | 640/8 | €14 | €130 | +€115 | +816% |
| Gross operating margin | 9900 | €22,159 | €86,530 | +€64,371 | +291% |
| Operating profit (loss) | 9901 | €21,759 | €85,244 | +€63,486 | +292% |
| Financial income | 75/76B | €294 | €329 | +€35 | +11.9% |
| Recurring financial income | 75 | €294 | €329 | +€35 | +11.9% |
| Financial charges | 65/66B | €12 | €595 | +€583 | +5,049% |
| Recurring financial charges | 65 | €12 | €595 | +€583 | +5,049% |
| Profit (loss) for the period before taxes | 9903 | €22,041 | €84,979 | +€62,937 | +286% |
| Income taxes | 67/77 | €4,753 | €17,374 | +€12,621 | +266% |
| Profit (loss) for the period | 9904 | €17,288 | €67,605 | +€50,316 | +291% |
| Profit (loss) for the period to be appropriated | 9905 | €17,288 | €67,605 | +€50,316 | +291% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.