The Barge: 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.
The Barge
Largest movements
- Cash +€64,948
up €64,948 (+355.2%), from €18,283 to €83,230
mainly Stocks and contracts (+€58,500) and Receivables within one year (+€35,714)
- Stocks and contracts -€58,500
down €58,500 (-83.5%), from €70,091 to €11,591
- Tangible fixed assets -€37,477
down €37,477 (-90.6%), from €41,383 to €3,906
of which Furniture and vehicles: -€36,060
- Receivables within one year -€35,714
down €35,714 (-76.0%), from €46,987 to €11,273
- Profit (loss) carried forward -€49,482
down €49,482 (-100.0%), from €49,482 to €0
- Other debts -€26,121
down €26,121 (-29.4%), from €88,772 to €62,651
- Reserves +€20,671
new in 2025: €20,671
- Current portion of long-term debt -€7,422
down €7,422 (-80.4%), from €9,230 to €1,809
- Debts after one year -€5,486
down €5,486 (-100.0%), from €5,486 to €0
- Gross operating margin +€17,484
up €17,484 (+42.6%), from €41,033 to €58,517
- Depreciation -€11,617
down €11,617 (-59.8%), from €19,428 to €7,811
- Taxes +€9,357
up €9,357 (+215.7%), from €4,338 to €13,694
- Other operating charges -€1,673
down €1,673 (-86.7%), from €1,929 to €256
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 | €177,004 | €110,302 | -€66,701 | -37.7% |
| Fixed assets | 21/28 | €41,383 | €3,906 | -€37,477 | -90.6% |
| Tangible fixed assets | 22/27 | €41,383 | €3,906 | -€37,477 | -90.6% |
| Plant, machinery and equipment | 23 | €5,322 | €3,906 | -€1,416 | -26.6% |
| Furniture and vehicles | 24 | €36,060 | €0 | -€36,060 | -100.0% |
| Current assets | 29/58 | €135,621 | €106,397 | -€29,225 | -21.5% |
| Stocks and contracts in progress | 3 | €70,091 | €11,591 | -€58,500 | -83.5% |
| Stocks | 30/36 | €70,091 | €11,591 | -€58,500 | -83.5% |
| Amounts receivable within one year | 40/41 | €46,987 | €11,273 | -€35,714 | -76.0% |
| Trade receivables | 40 | €46,987 | €11,273 | -€35,714 | -76.0% |
| Cash at bank and in hand | 54/58 | €18,283 | €83,230 | +€64,948 | +355.2% |
| Deferred charges and accrued income | 490/1 | €260 | €302 | +€42 | +16.1% |
| Total equity and liabilities | 10/49 | €177,004 | €110,302 | -€66,701 | -37.7% |
| Equity | 10/15 | €51,982 | €23,171 | -€28,812 | -55.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | - | €20,671 | +€20,671 | |
| Distributable reserves | 133 | - | €20,671 | +€20,671 | |
| Profit (loss) carried forward | 14 | €49,482 | €0 | -€49,482 | -100.0% |
| Amounts payable | 17/49 | €125,022 | €87,132 | -€37,890 | -30.3% |
| Amounts payable after more than one year | 17 | €5,486 | €0 | -€5,486 | -100.0% |
| Financial debts | 170/4 | €5,486 | €0 | -€5,486 | -100.0% |
| Amounts payable within one year | 42/48 | €119,536 | €87,132 | -€32,404 | -27.1% |
| Current portion of amounts payable after more than one year | 42 | €9,230 | €1,809 | -€7,422 | -80.4% |
| Financial debts | 43 | €268 | €47 | -€221 | -82.6% |
| Credit institutions | 430/8 | €268 | €47 | -€221 | -82.6% |
| Trade debts | 44 | €9,662 | €5,881 | -€3,780 | -39.1% |
| Suppliers | 440/4 | €9,662 | €5,881 | -€3,780 | -39.1% |
| Taxes, remuneration and social security | 45 | €11,604 | €16,745 | +€5,141 | +44.3% |
| Taxes | 450/3 | €11,604 | €16,745 | +€5,141 | +44.3% |
| Other amounts payable | 47/48 | €88,772 | €62,651 | -€26,121 | -29.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,428 | €7,811 | -€11,617 | -59.8% |
| Other operating charges | 640/8 | €1,929 | €256 | -€1,673 | -86.7% |
| Non-recurring operating charges | 66A | - | €4,325 | +€4,325 | |
| Gross operating margin | 9900 | €41,033 | €58,517 | +€17,484 | +42.6% |
| Operating profit (loss) | 9901 | €19,677 | €46,125 | +€26,448 | +134.4% |
| Financial income | 75/76B | €123 | €241 | +€117 | +94.9% |
| Recurring financial income | 75 | €123 | €241 | +€117 | +94.9% |
| Financial charges | 65/66B | €1,169 | €1,483 | +€314 | +26.8% |
| Recurring financial charges | 65 | €1,169 | €1,483 | +€314 | +26.8% |
| Profit (loss) for the period before taxes | 9903 | €18,631 | €44,883 | +€26,252 | +140.9% |
| Income taxes | 67/77 | €4,338 | €13,694 | +€9,357 | +215.7% |
| Profit (loss) for the period | 9904 | €14,293 | €31,188 | +€16,895 | +118.2% |
| Profit (loss) for the period to be appropriated | 9905 | €14,293 | €31,188 | +€16,895 | +118.2% |
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 10 October 2026 via checked.be.