BA RETAIL: 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.
What changed
BA RETAIL
NACE 64.210, Activities of holding companies
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€138,483
2024 · €130,469+€8,014
Equity
€605,873
2024 · €467,390+€138,483
Cash
€13,034
2024 · €13,373-€339
Balance sheet total
€1.6m
2024 · €1.6m+€4,693
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Debts after one year -€148,751
down €148,751 (-16.9%), from €878,171 to €729,421
- Profit (loss) carried forward +€138,483
up €138,483 (+45.8%), from €302,390 to €440,873
- Other debts +€19,799
up €19,799 (+62.4%), from €31,724 to €51,523
Income statement
- Staff costs -€41,236
no longer reported in 2025 (was €41,236)
- Gross operating margin -€28,027
down €28,027 (-12.3%), from €227,626 to €199,599
- Taxes +€6,417
up €6,417 (+16.7%), from €38,467 to €44,884
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
€130,469
Gross operating margin
-€28,027
Staff costs
+€41,236
Other operating charges
-€46
Other operating items
+€405
Financial income
-€265
Financial charges
+€1,127
Taxes
-€6,417
Result 2025
€138,483
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
+€146,758
Investment
€0
Financing
-€147,097
Cash 2024
€13,373
From operations (derived)
+€146,758
Net result for the year
+€138,483
Depreciation
+€4,862
Receivables within one year
-€9,774
Deferred charges and accrued income
-€121
Trade debts
-€13,363
Tax, wage and social debts
+€6,075
Other debts
+€19,799
Accrued charges and deferred income
+€796
Financing
-€147,097
Debts after one year
-€148,751
Current portion of long-term debt
+€1,653
Cash 2025
€13,034
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,635,682 | €1,640,374 | +€4,693 | +0.3% |
| Fixed assets | 21/28 | €1,503,848 | €1,498,986 | -€4,862 | -0.3% |
| Tangible fixed assets | 22/27 | €17,816 | €12,954 | -€4,862 | -27.3% |
| Furniture and vehicles | 24 | €17,816 | €12,954 | -€4,862 | -27.3% |
| Financial fixed assets | 28 | €1,486,032 | €1,486,032 | = | 0.0% |
| Current assets | 29/58 | €131,833 | €141,388 | +€9,555 | +7.2% |
| Amounts receivable within one year | 40/41 | €116,655 | €126,429 | +€9,774 | +8.4% |
| Trade receivables | 40 | €116,655 | €126,429 | +€9,774 | +8.4% |
| Cash at bank and in hand | 54/58 | €13,373 | €13,034 | -€339 | -2.5% |
| Deferred charges and accrued income | 490/1 | €1,805 | €1,925 | +€121 | +6.7% |
| Total equity and liabilities | 10/49 | €1,635,682 | €1,640,374 | +€4,693 | +0.3% |
| Equity | 10/15 | €467,390 | €605,873 | +€138,483 | +29.6% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €150,000 | €150,000 | = | 0.0% |
| Issued capital | 100 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €15,000 | €15,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Legal reserve | 130 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €302,390 | €440,873 | +€138,483 | +45.8% |
| Amounts payable | 17/49 | €1,168,291 | €1,034,501 | -€133,790 | -11.5% |
| Amounts payable after more than one year | 17 | €878,171 | €729,421 | -€148,751 | -16.9% |
| Financial debts | 170/4 | €878,171 | €729,421 | -€148,751 | -16.9% |
| Amounts payable within one year | 42/48 | €289,894 | €304,058 | +€14,164 | +4.9% |
| Current portion of amounts payable after more than one year | 42 | €147,097 | €148,751 | +€1,653 | +1.1% |
| Trade debts | 44 | €60,509 | €47,146 | -€13,363 | -22.1% |
| Suppliers | 440/4 | €60,509 | €47,146 | -€13,363 | -22.1% |
| Taxes, remuneration and social security | 45 | €50,564 | €56,639 | +€6,075 | +12.0% |
| Taxes | 450/3 | €50,564 | €56,639 | +€6,075 | +12.0% |
| Other amounts payable | 47/48 | €31,724 | €51,523 | +€19,799 | +62.4% |
| Accrued charges and deferred income | 492/3 | €226 | €1,022 | +€796 | +352.2% |
| Non-recurring operating income | 76A | €192 | €1,654 | +€1,462 | +761.3% |
| Remuneration, social security and pensions | 62 | €41,236 | - | -€41,236 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,862 | €4,862 | = | 0.0% |
| Other operating charges | 640/8 | €289 | €334 | +€46 | +15.8% |
| Non-recurring operating charges | 66A | €405 | - | -€405 | |
| Gross operating margin | 9900 | €227,626 | €199,599 | -€28,027 | -12.3% |
| Operating profit (loss) | 9901 | €180,835 | €194,402 | +€13,568 | +7.5% |
| Financial income | 75/76B | €265 | €0 | -€265 | -100.0% |
| Recurring financial income | 75 | €265 | €0 | -€265 | -100.0% |
| Financial charges | 65/66B | €12,163 | €11,036 | -€1,127 | -9.3% |
| Recurring financial charges | 65 | €12,163 | €11,036 | -€1,127 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | €168,936 | €183,367 | +€14,430 | +8.5% |
| Income taxes | 67/77 | €38,467 | €44,884 | +€6,417 | +16.7% |
| Profit (loss) for the period | 9904 | €130,469 | €138,483 | +€8,014 | +6.1% |
| Profit (loss) for the period to be appropriated | 9905 | €130,469 | €138,483 | +€8,014 | +6.1% |
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 10 October 2026 via checked.be.