LE BAR: what changed
Two fiscal 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.
LE BAR
Largest movements
- Tangible fixed assets +€308,383
up €308,383 (+1434.4%), from €21,499 to €329,882
of which Land and buildings: +€285,090
- Receivables within one year +€48,354
up €48,354 (+135.3%), from €35,746 to €84,100
of which Other amounts receivable: +€51,805
- Cash -€11,252
down €11,252 (-60.9%), from €18,472 to €7,220
mainly Investment in fixed assets (net) (-€317,079) and Receivables within one year (-€48,354)
- Intangible fixed assets -€5,694
down €5,694 (-11.6%), from €48,894 to €43,199
- Debts after one year +€257,862
up €257,862 (+1215.5%), from €21,214 to €279,076
- Other debts +€71,498
new in 2025: €71,498
- Reserves +€14,631
up €14,631 (+25.0%), from €58,564 to €73,195
- Trade debts -€9,566
down €9,566 (-80.4%), from €11,901 to €2,336
- Current portion of long-term debt +€7,945
up €7,945 (+79.0%), from €10,062 to €18,007
- Gross operating margin -€12,396
down €12,396 (-26.0%), from €47,644 to €35,248
- Taxes -€7,158
down €7,158 (-100.0%), from €7,158 to €0
- Depreciation +€2,906
up €2,906 (+23.8%), from €12,216 to €15,121
- Other operating charges +€2,444
up €2,444 (+350.5%), from €697 to €3,141
- Financial income -€555
down €555 (-99.4%), from €559 to €4
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 | €131,186 | €468,246 | +€337,060 | +256.9% |
| Formation expenses | 20 | €1,075 | €345 | -€730 | -68.0% |
| Fixed assets | 21/28 | €70,392 | €373,081 | +€302,689 | +430.0% |
| Intangible fixed assets | 21 | €48,894 | €43,199 | -€5,694 | -11.6% |
| Tangible fixed assets | 22/27 | €21,499 | €329,882 | +€308,383 | +1434.4% |
| Land and buildings | 22 | - | €285,090 | +€285,090 | |
| Plant, machinery and equipment | 23 | €14,616 | €28,757 | +€14,141 | +96.7% |
| Furniture and vehicles | 24 | €6,883 | €16,035 | +€9,152 | +133.0% |
| Current assets | 29/58 | €59,718 | €94,820 | +€35,102 | +58.8% |
| Stocks and contracts in progress | 3 | €4,000 | €3,500 | -€500 | -12.5% |
| Stocks | 30/36 | €4,000 | €3,500 | -€500 | -12.5% |
| Amounts receivable within one year | 40/41 | €35,746 | €84,100 | +€48,354 | +135.3% |
| Trade receivables | 40 | €22,087 | €18,636 | -€3,451 | -15.6% |
| Other amounts receivable | 41 | €13,659 | €65,464 | +€51,805 | +379.3% |
| Cash at bank and in hand | 54/58 | €18,472 | €7,220 | -€11,252 | -60.9% |
| Deferred charges and accrued income | 490/1 | €1,500 | €0 | -€1,500 | -100.0% |
| Total equity and liabilities | 10/49 | €131,186 | €468,246 | +€337,060 | +256.9% |
| Equity | 10/15 | €73,564 | €88,195 | +€14,631 | +19.9% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €58,564 | €73,195 | +€14,631 | +25.0% |
| Distributable reserves | 133 | €58,564 | €73,195 | +€14,631 | +25.0% |
| Amounts payable | 17/49 | €57,622 | €380,051 | +€322,429 | +559.6% |
| Amounts payable after more than one year | 17 | €21,214 | €279,076 | +€257,862 | +1215.5% |
| Financial debts | 170/4 | €21,214 | €279,076 | +€257,862 | +1215.5% |
| Amounts payable within one year | 42/48 | €36,407 | €100,975 | +€64,568 | +177.3% |
| Current portion of amounts payable after more than one year | 42 | €10,062 | €18,007 | +€7,945 | +79.0% |
| Financial debts | 43 | €0 | €1,976 | +€1,976 | |
| Credit institutions | 430/8 | €0 | €1,976 | +€1,976 | |
| Trade debts | 44 | €11,901 | €2,336 | -€9,566 | -80.4% |
| Suppliers | 440/4 | €11,901 | €2,336 | -€9,566 | -80.4% |
| Taxes, remuneration and social security | 45 | €14,444 | €7,158 | -€7,286 | -50.4% |
| Taxes | 450/3 | €14,444 | €7,158 | -€7,286 | -50.4% |
| Other amounts payable | 47/48 | - | €71,498 | +€71,498 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,216 | €15,121 | +€2,906 | +23.8% |
| Other operating charges | 640/8 | €697 | €3,141 | +€2,444 | +350.5% |
| Gross operating margin | 9900 | €47,644 | €35,248 | -€12,396 | -26.0% |
| Operating profit (loss) | 9901 | €34,731 | €16,986 | -€17,746 | -51.1% |
| Financial income | 75/76B | €559 | €4 | -€555 | -99.4% |
| Recurring financial income | 75 | €559 | €4 | -€555 | -99.4% |
| Financial charges | 65/66B | €2,133 | €2,358 | +€225 | +10.6% |
| Recurring financial charges | 65 | €2,133 | €2,358 | +€225 | +10.6% |
| Profit (loss) for the period before taxes | 9903 | €33,157 | €14,631 | -€18,527 | -55.9% |
| Income taxes | 67/77 | €7,158 | €0 | -€7,158 | -100.0% |
| Profit (loss) for the period | 9904 | €26,000 | €14,631 | -€11,369 | -43.7% |
| Profit (loss) for the period to be appropriated | 9905 | €26,000 | €14,631 | -€11,369 | -43.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.