B.A.O.: 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.O.
Largest movements
- Cash +€19,103
up €19,103 (+641.9%), from €2,976 to €22,079
mainly Depreciation (+€15,532) and Net result for the year (+€14,846)
- Tangible fixed assets -€15,532
down €15,532 (-12.7%), from €121,901 to €106,369
- Deferred charges and accrued income -€3,152
down €3,152 (-61.7%), from €5,109 to €1,957
- Other debts -€18,000
down €18,000 (-23.3%), from €77,386 to €59,386
- Reserves +€14,840
up €14,840 (+726.7%), from €2,042 to €16,882
- Tax, wage and social debts +€3,406
new in 2025: €3,406
- Trade debts +€2,786
new in 2025: €2,786
- Accrued charges and deferred income -€1,608
down €1,608 (-53.6%), from €3,000 to €1,392
- Gross operating margin +€25,507
up €25,507 (+147.2%), from €17,333 to €42,840
- Taxes +€3,406
new in 2025: €3,406
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 | €130,227 | €131,657 | +€1,430 | +1.1% |
| Fixed assets | 21/28 | €122,142 | €106,610 | -€15,532 | -12.7% |
| Tangible fixed assets | 22/27 | €121,901 | €106,369 | -€15,532 | -12.7% |
| Land and buildings | 22 | €121,901 | €106,369 | -€15,532 | -12.7% |
| Financial fixed assets | 28 | €241 | €241 | = | 0.0% |
| Current assets | 29/58 | €8,085 | €25,047 | +€16,962 | +209.8% |
| Amounts receivable within one year | 40/41 | - | €1,011 | +€1,011 | |
| Trade receivables | 40 | - | €1,011 | +€1,011 | |
| Cash at bank and in hand | 54/58 | €2,976 | €22,079 | +€19,103 | +641.9% |
| Deferred charges and accrued income | 490/1 | €5,109 | €1,957 | -€3,152 | -61.7% |
| Total equity and liabilities | 10/49 | €130,227 | €131,657 | +€1,430 | +1.1% |
| Equity | 10/15 | €49,841 | €64,687 | +€14,846 | +29.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €2,042 | €16,882 | +€14,840 | +726.7% |
| Distributable reserves | 133 | €2,042 | €16,882 | +€14,840 | +726.7% |
| Profit (loss) carried forward | 14 | €35,399 | €35,405 | +€6 | 0.0% |
| Amounts payable | 17/49 | €80,386 | €66,970 | -€13,416 | -16.7% |
| Amounts payable within one year | 42/48 | €77,386 | €65,578 | -€11,808 | -15.3% |
| Trade debts | 44 | - | €2,786 | +€2,786 | |
| Suppliers | 440/4 | - | €2,786 | +€2,786 | |
| Taxes, remuneration and social security | 45 | - | €3,406 | +€3,406 | |
| Taxes | 450/3 | - | €3,406 | +€3,406 | |
| Other amounts payable | 47/48 | €77,386 | €59,386 | -€18,000 | -23.3% |
| Accrued charges and deferred income | 492/3 | €3,000 | €1,392 | -€1,608 | -53.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,531 | €15,532 | +€1 | 0.0% |
| Other operating charges | 640/8 | €8,963 | €8,952 | -€11 | -0.1% |
| Gross operating margin | 9900 | €17,333 | €42,840 | +€25,507 | +147.2% |
| Operating profit (loss) | 9901 | -€7,161 | €18,356 | +€25,517 | |
| Financial charges | 65/66B | €102 | €104 | +€2 | +2.0% |
| Recurring financial charges | 65 | €102 | €104 | +€2 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | -€7,263 | €18,252 | +€25,515 | |
| Income taxes | 67/77 | - | €3,406 | +€3,406 | |
| Profit (loss) for the period | 9904 | -€7,263 | €14,846 | +€22,109 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,263 | €14,846 | +€22,109 |
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 12 October 2026 via checked.be.