The Belgian Barn: 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 Belgian Barn
Largest movements
- Current investments +€54,425
new in 2025: €54,425
- Receivables within one year +€31,508
up €31,508 (+87.3%), from €36,111 to €67,619
of which Trade receivables: +€36,966
- Cash -€29,429
down €29,429 (-61.7%), from €47,667 to €18,238
mainly Contributions, distributions and other (-€80,000) and Current investments (-€54,425)
- Tangible fixed assets -€11,080
down €11,080 (-56.3%), from €19,669 to €8,589
of which Furniture and vehicles: -€10,775
- Other debts +€78,000
up €78,000 (+3,900%), from €2,000 to €80,000
- Profit (loss) carried forward -€31,266
down €31,266 (-52.6%), from €59,400 to €28,134
- Tax, wage and social debts +€11,688
up €11,688 (+115%), from €10,145 to €21,833
- Debts after one year -€7,415
no longer reported in 2025 (was €7,415)
- Current portion of long-term debt -€5,198
down €5,198 (-41.2%), from €12,613 to €7,415
- Gross operating margin +€45,491
up €45,491 (+149%), from €30,569 to €76,060
- Taxes +€9,104
up €9,104 (+251%), from €3,631 to €12,735
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 | €104,720 | €150,272 | +€45,553 | +43.5% |
| Fixed assets | 21/28 | €19,669 | €8,589 | -€11,080 | -56.3% |
| Tangible fixed assets | 22/27 | €19,669 | €8,589 | -€11,080 | -56.3% |
| Plant, machinery and equipment | 23 | €474 | €170 | -€305 | -64.2% |
| Furniture and vehicles | 24 | €19,195 | €8,420 | -€10,775 | -56.1% |
| Current assets | 29/58 | €85,050 | €141,683 | +€56,633 | +66.6% |
| Amounts receivable within one year | 40/41 | €36,111 | €67,619 | +€31,508 | +87.3% |
| Trade receivables | 40 | €11,282 | €48,248 | +€36,966 | +328% |
| Other amounts receivable | 41 | €24,829 | €19,372 | -€5,458 | -22.0% |
| Current investments | 50/53 | - | €54,425 | +€54,425 | |
| Cash at bank and in hand | 54/58 | €47,667 | €18,238 | -€29,429 | -61.7% |
| Deferred charges and accrued income | 490/1 | €1,272 | €1,401 | +€129 | +10.2% |
| Total equity and liabilities | 10/49 | €104,720 | €150,272 | +€45,553 | +43.5% |
| Equity | 10/15 | €71,400 | €40,134 | -€31,266 | -43.8% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €59,400 | €28,134 | -€31,266 | -52.6% |
| Amounts payable | 17/49 | €33,319 | €110,138 | +€76,818 | +231% |
| Amounts payable after more than one year | 17 | €7,415 | - | -€7,415 | |
| Financial debts | 170/4 | €7,415 | - | -€7,415 | |
| Amounts payable within one year | 42/48 | €25,545 | €109,938 | +€84,393 | +330% |
| Current portion of amounts payable after more than one year | 42 | €12,613 | €7,415 | -€5,198 | -41.2% |
| Trade debts | 44 | €787 | €689 | -€98 | -12.4% |
| Suppliers | 440/4 | €787 | €689 | -€98 | -12.4% |
| Taxes, remuneration and social security | 45 | €10,145 | €21,833 | +€11,688 | +115% |
| Taxes | 450/3 | €10,145 | €21,833 | +€11,688 | +115% |
| Other amounts payable | 47/48 | €2,000 | €80,000 | +€78,000 | +3,900% |
| Accrued charges and deferred income | 492/3 | €359 | €200 | -€159 | -44.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,058 | €14,094 | +€36 | +0.3% |
| Other operating charges | 640/8 | €650 | €622 | -€28 | -4.3% |
| Gross operating margin | 9900 | €30,569 | €76,060 | +€45,491 | +149% |
| Operating profit (loss) | 9901 | €15,860 | €61,344 | +€45,484 | +287% |
| Financial income | 75/76B | €836 | €921 | +€85 | +10.2% |
| Recurring financial income | 75 | €836 | €921 | +€85 | +10.2% |
| Financial charges | 65/66B | €320 | €796 | +€475 | +148% |
| Recurring financial charges | 65 | €320 | €796 | +€475 | +148% |
| Profit (loss) for the period before taxes | 9903 | €16,376 | €61,469 | +€45,093 | +275% |
| Income taxes | 67/77 | €3,631 | €12,735 | +€9,104 | +251% |
| Profit (loss) for the period | 9904 | €12,745 | €48,734 | +€35,989 | +282% |
| Profit (loss) for the period to be appropriated | 9905 | €12,745 | €48,734 | +€35,989 | +282% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.