APOTHEEK BAELE: what changed
Two fiscal 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.
APOTHEEK BAELE
Largest movements
- Intangible fixed assets -€30,000
down €30,000 (-11.8%), from €255,000 to €225,000
- Stocks and contracts -€20,680
down €20,680 (-14.9%), from €138,603 to €117,923
- Cash +€14,984
up €14,984 (+112.1%), from €13,361 to €28,345
mainly Depreciation (+€46,891) and Current portion of long-term debt (+€27,000)
- Tangible fixed assets -€14,743
down €14,743 (-12.9%), from €113,979 to €99,236
- Receivables within one year +€7,829
up €7,829 (+19.3%), from €40,593 to €48,422
- Debts after one year -€79,221
down €79,221 (-19.5%), from €406,836 to €327,615
of which Other amounts payable: -€166,863
- Current portion of long-term debt +€27,000
new in 2025: €27,000
- Reserves +€19,003
up €19,003 (+27.6%), from €68,868 to €87,871
- Trade debts -€17,777
down €17,777 (-32.2%), from €55,247 to €37,470
- Tax, wage and social debts +€10,189
up €10,189 (+41.4%), from €24,586 to €34,775
- Gross operating margin -€78,490
down €78,490 (-48.1%), from €163,306 to €84,816
- Depreciation -€20,683
down €20,683 (-30.6%), from €67,574 to €46,891
- Taxes -€9,061
down €9,061 (-43.6%), from €20,766 to €11,705
- Financial charges +€2,729
up €2,729 (+151.7%), from €1,798 to €4,527
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 | €561,537 | €520,854 | -€40,682 | -7.2% |
| Fixed assets | 21/28 | €368,979 | €324,236 | -€44,743 | -12.1% |
| Intangible fixed assets | 21 | €255,000 | €225,000 | -€30,000 | -11.8% |
| Tangible fixed assets | 22/27 | €113,979 | €99,236 | -€14,743 | -12.9% |
| Furniture and vehicles | 24 | €113,979 | €99,236 | -€14,743 | -12.9% |
| Current assets | 29/58 | €192,558 | €196,618 | +€4,061 | +2.1% |
| Stocks and contracts in progress | 3 | €138,603 | €117,923 | -€20,680 | -14.9% |
| Stocks | 30/36 | €138,603 | €117,923 | -€20,680 | -14.9% |
| Amounts receivable within one year | 40/41 | €40,593 | €48,422 | +€7,829 | +19.3% |
| Trade receivables | 40 | €40,593 | €48,422 | +€7,829 | +19.3% |
| Cash at bank and in hand | 54/58 | €13,361 | €28,345 | +€14,984 | +112.1% |
| Deferred charges and accrued income | 490/1 | - | €1,928 | +€1,928 | |
| Total equity and liabilities | 10/49 | €561,537 | €520,854 | -€40,682 | -7.2% |
| Equity | 10/15 | €74,868 | €93,871 | +€19,003 | +25.4% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €68,868 | €87,871 | +€19,003 | +27.6% |
| Distributable reserves | 133 | €68,868 | €87,871 | +€19,003 | +27.6% |
| Amounts payable | 17/49 | €486,669 | €426,983 | -€59,686 | -12.3% |
| Amounts payable after more than one year | 17 | €406,836 | €327,615 | -€79,221 | -19.5% |
| Financial debts | 170/4 | - | €87,642 | +€87,642 | |
| Other amounts payable | 178/9 | €406,836 | €239,973 | -€166,863 | -41.0% |
| Amounts payable within one year | 42/48 | €79,833 | €99,245 | +€19,412 | +24.3% |
| Current portion of amounts payable after more than one year | 42 | - | €27,000 | +€27,000 | |
| Trade debts | 44 | €55,247 | €37,470 | -€17,777 | -32.2% |
| Suppliers | 440/4 | €55,247 | €37,470 | -€17,777 | -32.2% |
| Taxes, remuneration and social security | 45 | €24,586 | €34,775 | +€10,189 | +41.4% |
| Taxes | 450/3 | €24,586 | €34,775 | +€10,189 | +41.4% |
| Accrued charges and deferred income | 492/3 | - | €123 | +€123 | |
| Remuneration, social security and pensions | 62 | €1,783 | €1,557 | -€226 | -12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,574 | €46,891 | -€20,683 | -30.6% |
| Other operating charges | 640/8 | €2,516 | €1,132 | -€1,385 | -55.0% |
| Gross operating margin | 9900 | €163,306 | €84,816 | -€78,490 | -48.1% |
| Operating profit (loss) | 9901 | €91,432 | €35,236 | -€56,197 | -61.5% |
| Financial charges | 65/66B | €1,798 | €4,527 | +€2,729 | +151.7% |
| Recurring financial charges | 65 | €1,798 | €4,527 | +€2,729 | +151.7% |
| Profit (loss) for the period before taxes | 9903 | €89,634 | €30,708 | -€58,926 | -65.7% |
| Income taxes | 67/77 | €20,766 | €11,705 | -€9,061 | -43.6% |
| Profit (loss) for the period | 9904 | €68,868 | €19,003 | -€49,864 | -72.4% |
| Profit (loss) for the period to be appropriated | 9905 | €68,868 | €19,003 | -€49,864 | -72.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.