BA.ST: 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.
BA.ST
Largest movements
- Cash +€10,405
up €10,405 (+83.9%), from €12,403 to €22,809
mainly Net result for the year (+€12,791) and Tax, wage and social debts (+€2,780)
- Deferred charges and accrued income +€1,048
up €1,048 (+928.3%), from €113 to €1,161
- Intangible fixed assets -€700
down €700 (-23.3%), from €3,009 to €2,309
- Reserves +€12,791
up €12,791 (+318.0%), from €4,023 to €16,814
- Other debts -€7,063
down €7,063 (-100.0%), from €7,063 to €0
- Tax, wage and social debts +€2,780
up €2,780 (+119.3%), from €2,329 to €5,109
- Trade debts +€2,393
up €2,393 (+609.7%), from €392 to €2,785
- Gross operating margin +€11,381
up €11,381 (+179.7%), from €6,335 to €17,716
- Taxes +€2,222
up €2,222 (+190.0%), from €1,169 to €3,391
- Depreciation +€209
up €209 (+42.6%), from €491 to €700
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 | €16,307 | €27,208 | +€10,901 | +66.8% |
| Fixed assets | 21/28 | €3,009 | €2,309 | -€700 | -23.3% |
| Intangible fixed assets | 21 | €3,009 | €2,309 | -€700 | -23.3% |
| Current assets | 29/58 | €13,298 | €24,899 | +€11,601 | +87.2% |
| Stocks and contracts in progress | 3 | €569 | €703 | +€134 | +23.5% |
| Stocks | 30/36 | €569 | €703 | +€134 | +23.5% |
| Amounts receivable within one year | 40/41 | €213 | €227 | +€14 | +6.6% |
| Other amounts receivable | 41 | €213 | €227 | +€14 | +6.6% |
| Cash at bank and in hand | 54/58 | €12,403 | €22,809 | +€10,405 | +83.9% |
| Deferred charges and accrued income | 490/1 | €113 | €1,161 | +€1,048 | +928.3% |
| Total equity and liabilities | 10/49 | €16,307 | €27,208 | +€10,901 | +66.8% |
| Equity | 10/15 | €6,523 | €19,314 | +€12,791 | +196.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €4,023 | €16,814 | +€12,791 | +318.0% |
| Distributable reserves | 133 | €4,023 | €16,814 | +€12,791 | +318.0% |
| Amounts payable | 17/49 | €9,784 | €7,894 | -€1,890 | -19.3% |
| Amounts payable within one year | 42/48 | €9,784 | €7,894 | -€1,890 | -19.3% |
| Trade debts | 44 | €392 | €2,785 | +€2,393 | +609.7% |
| Suppliers | 440/4 | €392 | €2,785 | +€2,393 | +609.7% |
| Taxes, remuneration and social security | 45 | €2,329 | €5,109 | +€2,780 | +119.3% |
| Taxes | 450/3 | €2,329 | €5,109 | +€2,780 | +119.3% |
| Other amounts payable | 47/48 | €7,063 | €0 | -€7,063 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €491 | €700 | +€209 | +42.6% |
| Other operating charges | 640/8 | €598 | €763 | +€164 | +27.4% |
| Gross operating margin | 9900 | €6,335 | €17,716 | +€11,381 | +179.7% |
| Operating profit (loss) | 9901 | €5,245 | €16,253 | +€11,008 | +209.9% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €53 | €70 | +€17 | +32.6% |
| Recurring financial charges | 65 | €53 | €70 | +€17 | +32.6% |
| Profit (loss) for the period before taxes | 9903 | €5,192 | €16,183 | +€10,991 | +211.7% |
| Income taxes | 67/77 | €1,169 | €3,391 | +€2,222 | +190.0% |
| Profit (loss) for the period | 9904 | €4,023 | €12,791 | +€8,768 | +218.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,023 | €12,791 | +€8,768 | +218.0% |
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 6 October 2026 via checked.be.