B.A.B.E.L.: 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.
B.A.B.E.L.
Largest movements
- Stocks and contracts +€445,263
up €445,263 (+25.0%), from €1.8m to €2.2m
- Tangible fixed assets +€259,450
up €259,450 (+39.8%), from €651,578 to €911,028
of which Plant, machinery and equipment: +€236,240
- Cash +€159,964
up €159,964 (+89.8%), from €178,046 to €338,010
mainly Short-term financial debts (+€360,000) and Debts after one year (+€247,195)
- Receivables within one year +€153,596
up €153,596 (+49.0%), from €313,322 to €466,918
of which Other amounts receivable: +€129,122
- Intangible fixed assets +€115,172
new in 2024: €115,172
- Short-term financial debts +€360,000
up €360,000 (+21.0%), from €1.7m to €2.1m
- Debts after one year +€247,195
up €247,195 (+48.9%), from €505,528 to €752,724
- Profit (loss) carried forward +€208,980
up €208,980, from -€35,200 to €173,780
- Trade debts +€166,502
up €166,502 (+30.4%), from €547,214 to €713,716
- Tax, wage and social debts +€125,250
up €125,250 (+119%), from €105,150 to €230,399
of which Taxes: +€98,973
- Gross operating margin +€330,200
up €330,200 (+30.9%), from €1.1m to €1.4m
- Staff costs +€129,169
up €129,169 (+20.5%), from €630,173 to €759,342
- Taxes +€84,738
new in 2024: €84,738
- Financial charges +€79,212
up €79,212 (+84.6%), from €93,640 to €172,853
- Depreciation +€46,961
up €46,961 (+48.8%), from €96,191 to €143,152
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,925,315 | €4,067,625 | +€1.1m | +39.0% |
| Fixed assets | 21/28 | €651,578 | €1,026,200 | +€374,622 | +57.5% |
| Intangible fixed assets | 21 | - | €115,172 | +€115,172 | |
| Tangible fixed assets | 22/27 | €651,578 | €911,028 | +€259,450 | +39.8% |
| Land and buildings | 22 | €11,038 | €42,186 | +€31,148 | +282% |
| Plant, machinery and equipment | 23 | €612,660 | €848,900 | +€236,240 | +38.6% |
| Furniture and vehicles | 24 | €27,880 | €19,942 | -€7,938 | -28.5% |
| Current assets | 29/58 | €2,273,738 | €3,041,426 | +€767,688 | +33.8% |
| Stocks and contracts in progress | 3 | €1,782,185 | €2,227,448 | +€445,263 | +25.0% |
| Stocks | 30/36 | €1,782,185 | €2,227,448 | +€445,263 | +25.0% |
| Amounts receivable within one year | 40/41 | €313,322 | €466,918 | +€153,596 | +49.0% |
| Trade receivables | 40 | €41,349 | €65,823 | +€24,474 | +59.2% |
| Other amounts receivable | 41 | €271,973 | €401,095 | +€129,122 | +47.5% |
| Cash at bank and in hand | 54/58 | €178,046 | €338,010 | +€159,964 | +89.8% |
| Deferred charges and accrued income | 490/1 | €185 | €9,050 | +€8,865 | +4,800% |
| Total equity and liabilities | 10/49 | €2,925,315 | €4,067,625 | +€1.1m | +39.0% |
| Equity | 10/15 | -€29,000 | €179,980 | +€208,980 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€35,200 | €173,780 | +€208,980 | |
| Amounts payable | 17/49 | €2,954,316 | €3,887,646 | +€933,330 | +31.6% |
| Amounts payable after more than one year | 17 | €505,528 | €752,724 | +€247,195 | +48.9% |
| Financial debts | 170/4 | €505,528 | €752,724 | +€247,195 | +48.9% |
| Amounts payable within one year | 42/48 | €2,444,148 | €3,134,844 | +€690,696 | +28.3% |
| Current portion of amounts payable after more than one year | 42 | €76,784 | €115,728 | +€38,944 | +50.7% |
| Financial debts | 43 | €1,715,000 | €2,075,000 | +€360,000 | +21.0% |
| Credit institutions | 430/8 | €1,715,000 | €2,075,000 | +€360,000 | +21.0% |
| Trade debts | 44 | €547,214 | €713,716 | +€166,502 | +30.4% |
| Suppliers | 440/4 | €547,214 | €713,716 | +€166,502 | +30.4% |
| Taxes, remuneration and social security | 45 | €105,150 | €230,399 | +€125,250 | +119% |
| Taxes | 450/3 | €17,756 | €116,730 | +€98,973 | +557% |
| Remuneration and social security | 454/9 | €87,393 | €113,670 | +€26,277 | +30.1% |
| Accrued charges and deferred income | 492/3 | €4,639 | €78 | -€4,561 | -98.3% |
| Remuneration, social security and pensions | 62 | €630,173 | €759,342 | +€129,169 | +20.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €96,191 | €143,152 | +€46,961 | +48.8% |
| Other operating charges | 640/8 | €35,789 | €39,961 | +€4,172 | +11.7% |
| Gross operating margin | 9900 | €1,068,480 | €1,398,681 | +€330,200 | +30.9% |
| Operating profit (loss) | 9901 | €306,328 | €456,225 | +€149,897 | +48.9% |
| Financial income | 75/76B | €14,797 | €10,346 | -€4,452 | -30.1% |
| Recurring financial income | 75 | €14,797 | €10,346 | -€4,452 | -30.1% |
| Financial charges | 65/66B | €93,640 | €172,853 | +€79,212 | +84.6% |
| Recurring financial charges | 65 | €93,640 | €172,853 | +€79,212 | +84.6% |
| Profit (loss) for the period before taxes | 9903 | €227,485 | €293,718 | +€66,233 | +29.1% |
| Income taxes | 67/77 | - | €84,738 | +€84,738 | |
| Profit (loss) for the period | 9904 | €227,485 | €208,980 | -€18,505 | -8.1% |
| Profit (loss) for the period to be appropriated | 9905 | €227,485 | €208,980 | -€18,505 | -8.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.