Ir. Bart Kindt: 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.
Ir. Bart Kindt
Largest movements
- Cash +€36,769
up €36,769 (+674%), from €5,454 to €42,223
mainly Debts after one year (+€407,768) and Net result for the year (+€65,953)
- Tangible fixed assets -€30,025
down €30,025 (-24.0%), from €125,242 to €95,217
of which Furniture and vehicles: -€21,440
- Debts after one year +€407,768
up €407,768 (+227%), from €179,886 to €587,654
- Other debts -€379,036
down €379,036 (-100%), from €379,036 to €0
- Reserves -€25,452
down €25,452 (-6.5%), from €394,317 to €368,864
of which Distributable reserves: -€25,452
- Current portion of long-term debt -€14,356
down €14,356 (-25.7%), from €55,900 to €41,544
- Gross operating margin -€13,819
down €13,819 (-7.8%), from €178,127 to €164,308
- Taxes -€9,475
down €9,475 (-22.3%), from €42,423 to €32,948
- Other operating charges -€1,969
down €1,969 (-39.4%), from €4,994 to €3,025
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 | €1,058,280 | €1,065,545 | +€7,265 | +0.7% |
| Fixed assets | 21/28 | €925,242 | €895,217 | -€30,025 | -3.2% |
| Tangible fixed assets | 22/27 | €125,242 | €95,217 | -€30,025 | -24.0% |
| Land and buildings | 22 | €60,416 | €51,831 | -€8,585 | -14.2% |
| Furniture and vehicles | 24 | €64,826 | €43,386 | -€21,440 | -33.1% |
| Financial fixed assets | 28 | €800,000 | €800,000 | = | 0.0% |
| Current assets | 29/58 | €133,038 | €170,328 | +€37,290 | +28.0% |
| Amounts receivable within one year | 40/41 | €127,584 | €126,578 | -€1,005 | -0.8% |
| Trade receivables | 40 | €118,084 | €117,676 | -€408 | -0.3% |
| Other amounts receivable | 41 | €9,500 | €8,902 | -€598 | -6.3% |
| Cash at bank and in hand | 54/58 | €5,454 | €42,223 | +€36,769 | +674% |
| Deferred charges and accrued income | 490/1 | - | €1,527 | +€1,527 | |
| Total equity and liabilities | 10/49 | €1,058,280 | €1,065,545 | +€7,265 | +0.7% |
| Equity | 10/15 | €406,166 | €380,713 | -€25,452 | -6.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €394,317 | €368,864 | -€25,452 | -6.5% |
| Tax-exempt reserves | 132 | €137 | €137 | = | 0.0% |
| Distributable reserves | 133 | €394,180 | €368,728 | -€25,452 | -6.5% |
| Profit (loss) carried forward | 14 | -€551 | -€551 | = | 0.0% |
| Amounts payable | 17/49 | €652,115 | €684,832 | +€32,718 | +5.0% |
| Amounts payable after more than one year | 17 | €179,886 | €587,654 | +€407,768 | +227% |
| Financial debts | 170/4 | €179,886 | €587,654 | +€407,768 | +227% |
| Amounts payable within one year | 42/48 | €453,176 | €77,894 | -€375,281 | -82.8% |
| Current portion of amounts payable after more than one year | 42 | €55,900 | €41,544 | -€14,356 | -25.7% |
| Financial debts | 43 | - | €8,414 | +€8,414 | |
| Credit institutions | 430/8 | - | €8,414 | +€8,414 | |
| Trade debts | 44 | €488 | €1,050 | +€563 | +115% |
| Suppliers | 440/4 | €488 | €1,050 | +€563 | +115% |
| Taxes, remuneration and social security | 45 | €17,753 | €26,887 | +€9,134 | +51.5% |
| Taxes | 450/3 | €17,753 | €26,887 | +€9,134 | +51.5% |
| Other amounts payable | 47/48 | €379,036 | €0 | -€379,036 | -100% |
| Accrued charges and deferred income | 492/3 | €19,053 | €19,284 | +€231 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,177 | €30,025 | -€152 | -0.5% |
| Other operating charges | 640/8 | €4,994 | €3,025 | -€1,969 | -39.4% |
| Gross operating margin | 9900 | €178,127 | €164,308 | -€13,819 | -7.8% |
| Operating profit (loss) | 9901 | €142,956 | €131,258 | -€11,698 | -8.2% |
| Financial income | 75/76B | €150 | €0 | -€150 | -100.0% |
| Recurring financial income | 75 | €150 | €0 | -€150 | -100.0% |
| Financial charges | 65/66B | €34,042 | €32,357 | -€1,685 | -4.9% |
| Recurring financial charges | 65 | €34,042 | €32,357 | -€1,685 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | €109,064 | €98,901 | -€10,163 | -9.3% |
| Income taxes | 67/77 | €42,423 | €32,948 | -€9,475 | -22.3% |
| Profit (loss) for the period | 9904 | €66,642 | €65,953 | -€688 | -1.0% |
| Profit (loss) for the period to be appropriated | 9905 | €66,642 | €65,953 | -€688 | -1.0% |
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 16 October 2026 via checked.be.