MENSAERT BART: 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.
MENSAERT BART
Largest movements
- Cash -€526,685
down €526,685 (-91.5%), from €575,787 to €49,102
mainly Receivables after one year (-€425,000) and Current investments (-€256,708)
- Receivables after one year +€425,000
new in 2025: €425,000
- Current investments +€256,708
new in 2025: €256,708
- Tangible fixed assets +€83,611
up €83,611 (+253.8%), from €32,946 to €116,557
of which Furniture and vehicles: +€80,467
- Reserves +€222,300
up €222,300 (+50.9%), from €436,360 to €658,660
- Tax, wage and social debts +€14,188
up €14,188 (+58.3%), from €24,357 to €38,545
of which Taxes: +€14,188
- Depreciation +€10,006
up €10,006 (+108.4%), from €9,233 to €19,239
- Financial income -€5,120
down €5,120 (-53.8%), from €9,521 to €4,401
- Gross operating margin -€4,690
down €4,690 (-1.4%), from €344,834 to €340,144
- Taxes -€3,591
down €3,591 (-3.4%), from €105,213 to €101,622
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 | €640,118 | €879,028 | +€238,910 | +37.3% |
| Fixed assets | 21/28 | €32,946 | €116,557 | +€83,611 | +253.8% |
| Tangible fixed assets | 22/27 | €32,946 | €116,557 | +€83,611 | +253.8% |
| Plant, machinery and equipment | 23 | €6,736 | €9,879 | +€3,144 | +46.7% |
| Furniture and vehicles | 24 | €26,211 | €106,678 | +€80,467 | +307.0% |
| Current assets | 29/58 | €607,172 | €762,471 | +€155,299 | +25.6% |
| Amounts receivable after more than one year | 29 | - | €425,000 | +€425,000 | |
| Other amounts receivable | 291 | - | €425,000 | +€425,000 | |
| Amounts receivable within one year | 40/41 | €29,432 | €28,971 | -€461 | -1.6% |
| Trade receivables | 40 | €29,432 | €28,971 | -€461 | -1.6% |
| Current investments | 50/53 | - | €256,708 | +€256,708 | |
| Cash at bank and in hand | 54/58 | €575,787 | €49,102 | -€526,685 | -91.5% |
| Deferred charges and accrued income | 490/1 | €1,953 | €2,690 | +€737 | +37.7% |
| Total equity and liabilities | 10/49 | €640,118 | €879,028 | +€238,910 | +37.3% |
| Equity | 10/15 | €615,761 | €838,148 | +€222,387 | +36.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €436,360 | €658,660 | +€222,300 | +50.9% |
| Distributable reserves | 133 | €436,360 | €658,660 | +€222,300 | +50.9% |
| Profit (loss) carried forward | 14 | €160,801 | €160,888 | +€87 | +0.1% |
| Amounts payable | 17/49 | €24,357 | €40,880 | +€16,523 | +67.8% |
| Amounts payable within one year | 42/48 | €24,357 | €40,880 | +€16,523 | +67.8% |
| Trade debts | 44 | - | €183 | +€183 | |
| Suppliers | 440/4 | - | €183 | +€183 | |
| Taxes, remuneration and social security | 45 | €24,357 | €38,545 | +€14,188 | +58.3% |
| Taxes | 450/3 | €22,357 | €36,545 | +€14,188 | +63.5% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | - | €2,152 | +€2,152 | |
| Non-recurring operating income | 76A | €50,471 | €51,499 | +€1,028 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,233 | €19,239 | +€10,006 | +108.4% |
| Other operating charges | 640/8 | €577 | €654 | +€77 | +13.4% |
| Gross operating margin | 9900 | €344,834 | €340,144 | -€4,690 | -1.4% |
| Operating profit (loss) | 9901 | €335,025 | €320,251 | -€14,773 | -4.4% |
| Financial income | 75/76B | €9,521 | €4,401 | -€5,120 | -53.8% |
| Recurring financial income | 75 | €9,521 | €4,401 | -€5,120 | -53.8% |
| Financial charges | 65/66B | €1,006 | €643 | -€362 | -36.0% |
| Recurring financial charges | 65 | €1,006 | €643 | -€362 | -36.0% |
| Profit (loss) for the period before taxes | 9903 | €343,540 | €324,009 | -€19,531 | -5.7% |
| Income taxes | 67/77 | €105,213 | €101,622 | -€3,591 | -3.4% |
| Profit (loss) for the period | 9904 | €238,327 | €222,387 | -€15,940 | -6.7% |
| Profit (loss) for the period to be appropriated | 9905 | €238,327 | €222,387 | -€15,940 | -6.7% |
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 3 October 2026 via checked.be.