B.A.E.: 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.
B.A.E.
Largest movements
- Current investments -€35,000
down €35,000 (-39.4%), from €88,882 to €53,882
- Receivables within one year +€23,595
up €23,595 (+377.1%), from €6,257 to €29,852
- Cash -€4,718
down €4,718 (-27.6%), from €17,112 to €12,394
mainly Receivables within one year (-€23,595) and Net result for the year (-€17,104)
- Tangible fixed assets -€2,222
down €2,222 (-3.1%), from €72,165 to €69,943
- Profit (loss) carried forward -€17,104
down €17,104 (-9.5%), from -€179,912 to -€197,016
- Gross operating margin +€2,006
up €2,006 (+15.3%), from -€13,134 to -€11,128
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 | €186,422 | €168,159 | -€18,263 | -9.8% |
| Fixed assets | 21/28 | €72,165 | €69,943 | -€2,222 | -3.1% |
| Tangible fixed assets | 22/27 | €72,165 | €69,943 | -€2,222 | -3.1% |
| Land and buildings | 22 | €72,165 | €69,943 | -€2,222 | -3.1% |
| Current assets | 29/58 | €114,257 | €98,217 | -€16,041 | -14.0% |
| Amounts receivable within one year | 40/41 | €6,257 | €29,852 | +€23,595 | +377.1% |
| Other amounts receivable | 41 | €6,257 | €29,852 | +€23,595 | +377.1% |
| Current investments | 50/53 | €88,882 | €53,882 | -€35,000 | -39.4% |
| Cash at bank and in hand | 54/58 | €17,112 | €12,394 | -€4,718 | -27.6% |
| Deferred charges and accrued income | 490/1 | €2,006 | €2,089 | +€83 | +4.1% |
| Total equity and liabilities | 10/49 | €186,422 | €168,159 | -€18,263 | -9.8% |
| Equity | 10/15 | €183,995 | €166,891 | -€17,104 | -9.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €301,907 | €301,907 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €295,707 | €295,707 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€179,912 | -€197,016 | -€17,104 | -9.5% |
| Amounts payable | 17/49 | €2,427 | €1,268 | -€1,159 | -47.7% |
| Amounts payable within one year | 42/48 | €2,427 | €1,268 | -€1,159 | -47.7% |
| Trade debts | 44 | €2,427 | €1,130 | -€1,298 | -53.5% |
| Suppliers | 440/4 | €2,427 | €1,130 | -€1,298 | -53.5% |
| Taxes, remuneration and social security | 45 | - | €139 | +€139 | |
| Taxes | 450/3 | - | €139 | +€139 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,222 | €2,222 | = | 0.0% |
| Other operating charges | 640/8 | €3,618 | €3,730 | +€112 | +3.1% |
| Gross operating margin | 9900 | -€13,134 | -€11,128 | +€2,006 | +15.3% |
| Operating profit (loss) | 9901 | -€18,974 | -€17,080 | +€1,894 | +10.0% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €24 | €24 | = | 0.0% |
| Recurring financial charges | 65 | €24 | €24 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€18,998 | -€17,104 | +€1,894 | +10.0% |
| Profit (loss) for the period | 9904 | -€18,998 | -€17,104 | +€1,894 | +10.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,998 | -€17,104 | +€1,894 | +10.0% |
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 1 October 2026 via checked.be.