GHEERAERT 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.
GHEERAERT BART
Largest movements
- Tangible fixed assets -€7,143
down €7,143 (-16.8%), from €42,609 to €35,466
of which Furniture and vehicles: -€5,770
- Receivables within one year -€2,894
down €2,894 (-20.5%), from €14,141 to €11,247
of which Trade receivables: -€2,477
- Cash +€1,103
up €1,103 (+10.8%), from €10,242 to €11,346
mainly Depreciation (+€7,143) and Trade debts (+€4,668)
- Debts after one year -€9,911
down €9,911 (-47.1%), from €21,062 to €11,151
- Profit (loss) carried forward -€9,564
down €9,564 (-122%), from -€7,818 to -€17,381
- Trade debts +€4,668
up €4,668 (+461%), from €1,013 to €5,681
- Other debts +€3,753
up €3,753 (+5,404%), from €69 to €3,822
- Tax, wage and social debts +€1,800
up €1,800 (+4,801%), from €37 to €1,837
of which Taxes: +€1,800
- Gross operating margin -€2,044
down €2,044, from €1,698 to -€346
- Financial charges -€288
down €288 (-20.3%), from €1,421 to €1,133
- Financial income +€102
up €102, from €0 to €102
- Depreciation +€52
up €52 (+0.7%), from €7,091 to €7,143
- Other operating charges +€40
up €40 (+3.9%), from €1,004 to €1,043
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 | €75,952 | €67,050 | -€8,901 | -11.7% |
| Fixed assets | 21/28 | €42,609 | €35,466 | -€7,143 | -16.8% |
| Tangible fixed assets | 22/27 | €42,609 | €35,466 | -€7,143 | -16.8% |
| Plant, machinery and equipment | 23 | €3,975 | €2,602 | -€1,373 | -34.5% |
| Furniture and vehicles | 24 | €38,635 | €32,865 | -€5,770 | -14.9% |
| Current assets | 29/58 | €33,342 | €31,584 | -€1,758 | -5.3% |
| Stocks and contracts in progress | 3 | €6,475 | €5,898 | -€577 | -8.9% |
| Stocks | 30/36 | €6,475 | €5,898 | -€577 | -8.9% |
| Amounts receivable within one year | 40/41 | €14,141 | €11,247 | -€2,894 | -20.5% |
| Trade receivables | 40 | €5,888 | €3,411 | -€2,477 | -42.1% |
| Other amounts receivable | 41 | €8,253 | €7,836 | -€417 | -5.1% |
| Cash at bank and in hand | 54/58 | €10,242 | €11,346 | +€1,103 | +10.8% |
| Deferred charges and accrued income | 490/1 | €2,483 | €3,093 | +€610 | +24.5% |
| Total equity and liabilities | 10/49 | €75,952 | €67,050 | -€8,901 | -11.7% |
| Equity | 10/15 | €44,212 | €34,648 | -€9,564 | -21.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €33,429 | €33,429 | = | 0.0% |
| Distributable reserves | 133 | €33,429 | €33,429 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,818 | -€17,381 | -€9,564 | -122% |
| Amounts payable | 17/49 | €31,740 | €32,402 | +€662 | +2.1% |
| Amounts payable after more than one year | 17 | €21,062 | €11,151 | -€9,911 | -47.1% |
| Financial debts | 170/4 | €21,062 | €11,151 | -€9,911 | -47.1% |
| Amounts payable within one year | 42/48 | €10,678 | €21,252 | +€10,573 | +99.0% |
| Current portion of amounts payable after more than one year | 42 | €9,558 | €9,911 | +€353 | +3.7% |
| Trade debts | 44 | €1,013 | €5,681 | +€4,668 | +461% |
| Suppliers | 440/4 | €1,013 | €5,681 | +€4,668 | +461% |
| Taxes, remuneration and social security | 45 | €37 | €1,837 | +€1,800 | +4,801% |
| Taxes | 450/3 | €37 | €1,837 | +€1,800 | +4,801% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €69 | €3,822 | +€3,753 | +5,404% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,091 | €7,143 | +€52 | +0.7% |
| Other operating charges | 640/8 | €1,004 | €1,043 | +€40 | +3.9% |
| Gross operating margin | 9900 | €1,698 | -€346 | -€2,044 | |
| Operating profit (loss) | 9901 | -€6,397 | -€8,533 | -€2,136 | -33.4% |
| Financial income | 75/76B | €0 | €102 | +€102 | |
| Recurring financial income | 75 | €0 | €102 | +€102 | |
| Financial charges | 65/66B | €1,421 | €1,133 | -€288 | -20.3% |
| Recurring financial charges | 65 | €1,421 | €1,133 | -€288 | -20.3% |
| Profit (loss) for the period before taxes | 9903 | -€7,818 | -€9,564 | -€1,746 | -22.3% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€7,818 | -€9,564 | -€1,746 | -22.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,818 | -€9,564 | -€1,746 | -22.3% |
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 28 October 2026 via checked.be.