The Bearded Man: 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 Bearded Man
Largest movements
- Receivables within one year -€35,396
down €35,396 (-29.2%), from €121,197 to €85,801
- Debts after one year -€28,438
down €28,438 (-27.8%), from €102,379 to €73,941
- Profit (loss) carried forward -€11,897
down €11,897 (-82.8%), from -€14,367 to -€26,264
- Other debts +€3,180
up €3,180 (+151%), from €2,100 to €5,280
- Financial charges -€2,176
down €2,176 (-27.3%), from €7,966 to €5,790
- Gross operating margin +€761
up €761 (+11.9%), from -€6,401 to -€5,640
- Other operating charges +€467
new in 2025: €467
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 | €121,271 | €86,105 | -€35,166 | -29.0% |
| Current assets | 29/58 | €121,271 | €86,105 | -€35,166 | -29.0% |
| Amounts receivable within one year | 40/41 | €121,197 | €85,801 | -€35,396 | -29.2% |
| Other amounts receivable | 41 | €121,197 | €85,801 | -€35,396 | -29.2% |
| Cash at bank and in hand | 54/58 | €74 | €304 | +€230 | +308% |
| Total equity and liabilities | 10/49 | €121,271 | €86,105 | -€35,166 | -29.0% |
| Equity | 10/15 | -€11,367 | -€23,264 | -€11,897 | -105% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,367 | -€26,264 | -€11,897 | -82.8% |
| Amounts payable | 17/49 | €132,639 | €109,369 | -€23,270 | -17.5% |
| Amounts payable after more than one year | 17 | €102,379 | €73,941 | -€28,438 | -27.8% |
| Financial debts | 170/4 | €102,379 | €73,941 | -€28,438 | -27.8% |
| Amounts payable within one year | 42/48 | €30,259 | €35,428 | +€5,169 | +17.1% |
| Current portion of amounts payable after more than one year | 42 | €27,252 | €28,438 | +€1,186 | +4.4% |
| Trade debts | 44 | €908 | €1,710 | +€802 | +88.4% |
| Suppliers | 440/4 | €908 | €1,710 | +€802 | +88.4% |
| Other amounts payable | 47/48 | €2,100 | €5,280 | +€3,180 | +151% |
| Other operating charges | 640/8 | - | €467 | +€467 | |
| Gross operating margin | 9900 | -€6,401 | -€5,640 | +€761 | +11.9% |
| Operating profit (loss) | 9901 | -€6,401 | -€6,107 | +€295 | +4.6% |
| Financial charges | 65/66B | €7,966 | €5,790 | -€2,176 | -27.3% |
| Recurring financial charges | 65 | €7,966 | €5,790 | -€2,176 | -27.3% |
| Profit (loss) for the period before taxes | 9903 | -€14,367 | -€11,897 | +€2,470 | +17.2% |
| Profit (loss) for the period | 9904 | -€14,367 | -€11,897 | +€2,470 | +17.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,367 | -€11,897 | +€2,470 | +17.2% |
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 27 October 2026 via checked.be.