VANROBAEYS BART: 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.
VANROBAEYS BART
Largest movements
- Tangible fixed assets +€4.6m
up €4.6m (+221.3%), from €2.1m to €6.6m
of which Land and buildings: +€3.7m
- Cash -€3.2m
down €3.2m (-63.1%), from €5.1m to €1.9m
mainly Investment in fixed assets (net) (-€8.3m) and Receivables within one year (-€614,059)
- Financial fixed assets +€3.1m
up €3.1m (+457700.0%), from €675 to €3.1m
- Current investments -€706,037
down €706,037 (-78.2%), from €902,688 to €196,651
- Receivables within one year +€614,059
up €614,059 (+262.4%), from €234,054 to €848,113
of which Other amounts receivable: +€713,310
- Debts after one year +€3.4m
up €3.4m (+1058.7%), from €324,762 to €3.8m
- Reserves +€686,830
up €686,830 (+9.2%), from €7.5m to €8.2m
of which Distributable reserves: +€691,925
- Current portion of long-term debt +€316,667
up €316,667 (+251.9%), from €125,714 to €442,381
- Other debts -€140,000
down €140,000 (-100.0%), from €140,000 to €0
- Gross operating margin -€895,512
down €895,512 (-39.5%), from €2.3m to €1.4m
- Taxes -€365,081
down €365,081 (-93.6%), from €389,919 to €24,838
- Depreciation +€140,191
up €140,191 (+27.4%), from €510,838 to €651,028
- Financial charges +€40,517
up €40,517 (+803.0%), from €5,046 to €45,563
- Financial income -€39,986
down €39,986 (-42.4%), from €94,220 to €54,233
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 | €8,422,579 | €12,752,034 | +€4.3m | +51.4% |
| Fixed assets | 21/28 | €2,200,467 | €9,829,388 | +€7.6m | +346.7% |
| Intangible fixed assets | 21 | €134,386 | €103,557 | -€30,829 | -22.9% |
| Tangible fixed assets | 22/27 | €2,065,406 | €6,635,681 | +€4.6m | +221.3% |
| Land and buildings | 22 | €468,899 | €4,211,545 | +€3.7m | +798.2% |
| Plant, machinery and equipment | 23 | €1,290,866 | €1,638,227 | +€347,361 | +26.9% |
| Furniture and vehicles | 24 | €305,641 | €275,339 | -€30,302 | -9.9% |
| Other tangible fixed assets | 26 | - | €510,570 | +€510,570 | |
| Financial fixed assets | 28 | €675 | €3,090,150 | +€3.1m | +457700.0% |
| Current assets | 29/58 | €6,222,112 | €2,922,646 | -€3.3m | -53.0% |
| Amounts receivable within one year | 40/41 | €234,054 | €848,113 | +€614,059 | +262.4% |
| Trade receivables | 40 | €219,419 | €120,167 | -€99,251 | -45.2% |
| Other amounts receivable | 41 | €14,635 | €727,945 | +€713,310 | +4874.0% |
| Current investments | 50/53 | €902,688 | €196,651 | -€706,037 | -78.2% |
| Cash at bank and in hand | 54/58 | €5,084,929 | €1,874,239 | -€3.2m | -63.1% |
| Deferred charges and accrued income | 490/1 | €441 | €3,644 | +€3,203 | +726.2% |
| Total equity and liabilities | 10/49 | €8,422,579 | €12,752,034 | +€4.3m | +51.4% |
| Equity | 10/15 | €7,526,076 | €8,212,905 | +€686,830 | +9.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €7,501,076 | €8,187,905 | +€686,830 | +9.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €741,104 | €736,008 | -€5,095 | -0.7% |
| Distributable reserves | 133 | €6,759,972 | €7,451,897 | +€691,925 | +10.2% |
| Provisions and deferred taxes | 16 | €36,900 | €35,202 | -€1,698 | -4.6% |
| Deferred taxes | 168 | €36,900 | €35,202 | -€1,698 | -4.6% |
| Amounts payable | 17/49 | €859,604 | €4,503,927 | +€3.6m | +424.0% |
| Amounts payable after more than one year | 17 | €324,762 | €3,762,937 | +€3.4m | +1058.7% |
| Financial debts | 170/4 | €324,762 | €3,762,937 | +€3.4m | +1058.7% |
| Amounts payable within one year | 42/48 | €534,267 | €740,991 | +€206,724 | +38.7% |
| Current portion of amounts payable after more than one year | 42 | €125,714 | €442,381 | +€316,667 | +251.9% |
| Financial debts | 43 | - | €4 | +€4 | |
| Credit institutions | 430/8 | - | €4 | +€4 | |
| Trade debts | 44 | €230,289 | €295,895 | +€65,606 | +28.5% |
| Suppliers | 440/4 | €230,289 | €295,895 | +€65,606 | +28.5% |
| Advances received on contracts in progress | 46 | - | €585 | +€585 | |
| Taxes, remuneration and social security | 45 | €38,263 | €2,126 | -€36,137 | -94.4% |
| Taxes | 450/3 | €38,263 | €2,126 | -€36,137 | -94.4% |
| Other amounts payable | 47/48 | €140,000 | €0 | -€140,000 | -100.0% |
| Accrued charges and deferred income | 492/3 | €575 | €0 | -€575 | -100.0% |
| Non-recurring operating income | 76A | €147,600 | €13,915 | -€133,685 | -90.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €510,838 | €651,028 | +€140,191 | +27.4% |
| Other operating charges | 640/8 | €11,378 | €14,014 | +€2,636 | +23.2% |
| Non-recurring operating charges | 66A | - | €6,085 | +€6,085 | |
| Gross operating margin | 9900 | €2,267,938 | €1,372,427 | -€895,512 | -39.5% |
| Operating profit (loss) | 9901 | €1,745,723 | €701,299 | -€1.0m | -59.8% |
| Financial income | 75/76B | €94,220 | €54,233 | -€39,986 | -42.4% |
| Recurring financial income | 75 | €94,220 | €54,233 | -€39,986 | -42.4% |
| Financial charges | 65/66B | €5,046 | €45,563 | +€40,517 | +803.0% |
| Recurring financial charges | 65 | €5,046 | €45,563 | +€40,517 | +803.0% |
| Profit (loss) for the period before taxes | 9903 | €1,834,897 | €709,970 | -€1.1m | -61.3% |
| Transfer from deferred taxes | 780 | - | €1,698 | +€1,698 | |
| Transfer to deferred taxes | 680 | €36,900 | €0 | -€36,900 | -100.0% |
| Income taxes | 67/77 | €389,919 | €24,838 | -€365,081 | -93.6% |
| Profit (loss) for the period | 9904 | €1,408,078 | €686,830 | -€721,248 | -51.2% |
| Transfer from tax-exempt reserves | 789 | €640,800 | €5,095 | -€635,705 | -99.2% |
| Transfer to tax-exempt reserves | 689 | €700,100 | €0 | -€700,100 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,348,778 | €691,925 | -€656,853 | -48.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.