AN BAEYENS: 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.
AN BAEYENS
Largest movements
- Receivables within one year -€13,621
down €13,621 (-81.1%), from €16,797 to €3,176
of which Trade receivables: -€8,248
- Cash +€6,757
up €6,757 (+11.7%), from €57,535 to €64,293
mainly Receivables within one year (+€13,621) and Net result for the year (+€8,118)
- Tangible fixed assets -€5,273
down €5,273 (-8.8%), from €60,230 to €54,956
of which Land and buildings: -€5,872
- Stocks and contracts +€4,105
up €4,105 (+20.4%), from €20,165 to €24,270
of which Stocks: +€2,405
- Other debts -€7,419
down €7,419 (-25.1%), from €29,523 to €22,104
- Gross operating margin +€12,317
up €12,317 (+126%), from €9,759 to €22,076
- Taxes +€4,106
up €4,106 (+696%), from €590 to €4,697
- Financial charges +€683
up €683 (+103%), from €660 to €1,343
- Depreciation -€644
down €644 (-9.7%), from €6,619 to €5,975
- Other operating charges +€436
up €436 (+26.6%), from €1,640 to €2,076
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 | €155,744 | €147,758 | -€7,986 | -5.1% |
| Fixed assets | 21/28 | €60,230 | €54,956 | -€5,273 | -8.8% |
| Tangible fixed assets | 22/27 | €60,230 | €54,956 | -€5,273 | -8.8% |
| Land and buildings | 22 | €60,230 | €54,357 | -€5,872 | -9.8% |
| Furniture and vehicles | 24 | - | €599 | +€599 | |
| Current assets | 29/58 | €95,515 | €92,802 | -€2,713 | -2.8% |
| Stocks and contracts in progress | 3 | €20,165 | €24,270 | +€4,105 | +20.4% |
| Stocks | 30/36 | €9,865 | €12,270 | +€2,405 | +24.4% |
| Contracts in progress | 37 | €10,300 | €12,000 | +€1,700 | +16.5% |
| Amounts receivable within one year | 40/41 | €16,797 | €3,176 | -€13,621 | -81.1% |
| Trade receivables | 40 | €11,257 | €3,010 | -€8,248 | -73.3% |
| Other amounts receivable | 41 | €5,540 | €166 | -€5,373 | -97.0% |
| Cash at bank and in hand | 54/58 | €57,535 | €64,293 | +€6,757 | +11.7% |
| Deferred charges and accrued income | 490/1 | €1,017 | €1,063 | +€46 | +4.5% |
| Total equity and liabilities | 10/49 | €155,744 | €147,758 | -€7,986 | -5.1% |
| Equity | 10/15 | €81,759 | €82,118 | +€358 | +0.4% |
| Contributions | 10/11 | €37,200 | €37,200 | = | 0.0% |
| Reserves | 13 | €44,559 | €44,918 | +€358 | +0.8% |
| Distributable reserves | 133 | €44,559 | €44,918 | +€358 | +0.8% |
| Amounts payable | 17/49 | €73,985 | €65,641 | -€8,344 | -11.3% |
| Amounts payable after more than one year | 17 | €40,000 | €40,000 | = | 0.0% |
| Financial debts | 170/4 | €40,000 | €40,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €33,985 | €25,641 | -€8,344 | -24.6% |
| Financial debts | 43 | €354 | - | -€354 | |
| Credit institutions | 430/8 | €354 | - | -€354 | |
| Trade debts | 44 | €2,661 | €2,337 | -€325 | -12.2% |
| Suppliers | 440/4 | €2,661 | €2,337 | -€325 | -12.2% |
| Taxes, remuneration and social security | 45 | €1,447 | €1,200 | -€247 | -17.1% |
| Taxes | 450/3 | €1,447 | €1,200 | -€247 | -17.1% |
| Other amounts payable | 47/48 | €29,523 | €22,104 | -€7,419 | -25.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,619 | €5,975 | -€644 | -9.7% |
| Other operating charges | 640/8 | €1,640 | €2,076 | +€436 | +26.6% |
| Gross operating margin | 9900 | €9,759 | €22,076 | +€12,317 | +126% |
| Operating profit (loss) | 9901 | €1,500 | €14,025 | +€12,525 | +835% |
| Financial income | 75/76B | - | €133 | +€133 | |
| Recurring financial income | 75 | - | €133 | +€133 | |
| Financial charges | 65/66B | €660 | €1,343 | +€683 | +103% |
| Recurring financial charges | 65 | €660 | €1,343 | +€683 | +103% |
| Profit (loss) for the period before taxes | 9903 | €840 | €12,814 | +€11,974 | +1,426% |
| Income taxes | 67/77 | €590 | €4,697 | +€4,106 | +696% |
| Profit (loss) for the period | 9904 | €250 | €8,118 | +€7,868 | +3,153% |
| Profit (loss) for the period to be appropriated | 9905 | €250 | €8,118 | +€7,868 | +3,153% |
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 30 October 2026 via checked.be.