B.A.E.C.: 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.
What changed
B.A.E.C.
NACE 71.111, Activities of building architects
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€197,765
2024 · €209,530-€11,765
Equity
€754,378
2024 · €674,296+€80,081
Cash
€54,590
2024 · €40,806+€13,783
Balance sheet total
€1.6m
2024 · €1.4m+€164,778
Largest movements
Assets
- Current investments +€154,505
up €154,505 (+67.5%), from €229,000 to €383,505
Equity and liabilities
- Other debts +€91,362
up €91,362 (+325.4%), from €28,080 to €119,442
- Reserves +€80,081
up €80,081 (+12.6%), from €634,856 to €714,937
of which Distributable reserves: +€80,081
- Debts after one year -€37,515
down €37,515 (-6.5%), from €576,389 to €538,874
- Tax, wage and social debts +€20,012
up €20,012 (+20.2%), from €99,270 to €119,282
Income statement
- Financial income -€16,114
down €16,114 (-93.7%), from €17,194 to €1,081
- Other operating charges -€6,160
down €6,160 (-34.0%), from €18,101 to €11,941
- Gross operating margin -€5,465
down €5,465 (-1.6%), from €347,282 to €341,817
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.
Result 2024
€209,530
Gross operating margin
-€5,465
Depreciation
+€173
Other operating charges
+€6,160
Financial income
-€16,114
Financial charges
+€2,183
Taxes
+€1,298
Result 2025
€197,765
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.
From operations
+€336,258
Investment
-€178,136
Financing
-€144,339
Cash 2024
€40,806
From operations (derived)
+€336,258
Net result for the year
+€197,765
Depreciation
+€27,033
Smaller working-capital items
-€510
Deferred charges and accrued income
+€595
Tax, wage and social debts
+€20,012
Other debts
+€91,362
Investment (derived)
-€178,136
Investment in fixed assets (net)
-€23,630
Current investments
-€154,505
Financing
-€144,339
Debts after one year
-€37,515
Current portion of long-term debt
+€10,860
Contributions, distributions and other
-€117,683
Cash 2025
€54,590
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,427,012 | €1,591,790 | +€164,778 | +11.5% |
| Fixed assets | 21/28 | €780,144 | €776,741 | -€3,403 | -0.4% |
| Tangible fixed assets | 22/27 | €780,051 | €776,648 | -€3,403 | -0.4% |
| Land and buildings | 22 | €746,249 | €731,823 | -€14,426 | -1.9% |
| Furniture and vehicles | 24 | €32,833 | €44,513 | +€11,680 | +35.6% |
| Other tangible fixed assets | 26 | €969 | €312 | -€657 | -67.8% |
| Financial fixed assets | 28 | €93 | €93 | = | 0.0% |
| Current assets | 29/58 | €646,868 | €815,049 | +€168,181 | +26.0% |
| Amounts receivable within one year | 40/41 | €372,048 | €372,535 | +€487 | +0.1% |
| Trade receivables | 40 | €370,432 | €368,534 | -€1,898 | -0.5% |
| Other amounts receivable | 41 | €1,616 | €4,001 | +€2,385 | +147.6% |
| Current investments | 50/53 | €229,000 | €383,505 | +€154,505 | +67.5% |
| Cash at bank and in hand | 54/58 | €40,806 | €54,590 | +€13,783 | +33.8% |
| Deferred charges and accrued income | 490/1 | €5,014 | €4,419 | -€595 | -11.9% |
| Total equity and liabilities | 10/49 | €1,427,012 | €1,591,790 | +€164,778 | +11.5% |
| Equity | 10/15 | €674,296 | €754,378 | +€80,081 | +11.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €634,856 | €714,937 | +€80,081 | +12.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €632,996 | €713,077 | +€80,081 | +12.7% |
| Profit (loss) carried forward | 14 | €33,241 | €33,241 | = | 0.0% |
| Amounts payable | 17/49 | €752,716 | €837,412 | +€84,696 | +11.3% |
| Amounts payable after more than one year | 17 | €576,389 | €538,874 | -€37,515 | -6.5% |
| Financial debts | 170/4 | €576,389 | €538,874 | -€37,515 | -6.5% |
| Amounts payable within one year | 42/48 | €174,921 | €297,155 | +€122,234 | +69.9% |
| Current portion of amounts payable after more than one year | 42 | €45,036 | €55,895 | +€10,860 | +24.1% |
| Trade debts | 44 | €2,536 | €2,535 | -€0 | 0.0% |
| Suppliers | 440/4 | €2,536 | €2,535 | -€0 | 0.0% |
| Taxes, remuneration and social security | 45 | €99,270 | €119,282 | +€20,012 | +20.2% |
| Taxes | 450/3 | €99,270 | €119,282 | +€20,012 | +20.2% |
| Other amounts payable | 47/48 | €28,080 | €119,442 | +€91,362 | +325.4% |
| Accrued charges and deferred income | 492/3 | €1,406 | €1,384 | -€22 | -1.6% |
| Non-recurring operating income | 76A | €17,123 | - | -€17,123 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,206 | €27,033 | -€173 | -0.6% |
| Other operating charges | 640/8 | €18,101 | €11,941 | -€6,160 | -34.0% |
| Gross operating margin | 9900 | €347,282 | €341,817 | -€5,465 | -1.6% |
| Operating profit (loss) | 9901 | €301,975 | €302,843 | +€868 | +0.3% |
| Financial income | 75/76B | €17,194 | €1,081 | -€16,114 | -93.7% |
| Recurring financial income | 75 | €17,194 | €1,081 | -€16,114 | -93.7% |
| Financial charges | 65/66B | €20,443 | €18,261 | -€2,183 | -10.7% |
| Recurring financial charges | 65 | €20,443 | €18,261 | -€2,183 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | €298,726 | €285,663 | -€13,063 | -4.4% |
| Income taxes | 67/77 | €89,196 | €87,898 | -€1,298 | -1.5% |
| Profit (loss) for the period | 9904 | €209,530 | €197,765 | -€11,765 | -5.6% |
| Profit (loss) for the period to be appropriated | 9905 | €209,530 | €197,765 | -€11,765 | -5.6% |
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 30 September 2026 via checked.be.