BA3RD: 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.
BA3RD
Largest movements
- Cash +€130,331
up €130,331 (+104.9%), from €124,271 to €254,602
mainly Net result for the year (+€144,877) and Depreciation (+€25,909)
- Tangible fixed assets -€25,909
down €25,909 (-7.0%), from €368,537 to €342,628
of which Furniture and vehicles: -€13,384
- Receivables within one year +€13,625
up €13,625 (+234.8%), from €5,804 to €19,429
of which Other amounts receivable: +€11,333
- Reserves +€144,877
up €144,877 (+64.0%), from €226,241 to €371,118
- Debts after one year -€23,285
down €23,285 (-11.0%), from €211,999 to €188,714
- Gross operating margin -€116,686
down €116,686 (-34.3%), from €340,326 to €223,639
- Taxes -€26,756
down €26,756 (-38.2%), from €69,979 to €43,224
- Depreciation -€6,476
down €6,476 (-20.0%), from €32,385 to €25,909
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 | €502,112 | €621,324 | +€119,212 | +23.7% |
| Fixed assets | 21/28 | €368,937 | €343,028 | -€25,909 | -7.0% |
| Tangible fixed assets | 22/27 | €368,537 | €342,628 | -€25,909 | -7.0% |
| Land and buildings | 22 | €314,158 | €301,633 | -€12,525 | -4.0% |
| Furniture and vehicles | 24 | €54,379 | €40,995 | -€13,384 | -24.6% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €133,175 | €278,296 | +€145,121 | +109.0% |
| Amounts receivable within one year | 40/41 | €5,804 | €19,429 | +€13,625 | +234.8% |
| Trade receivables | 40 | €36 | €2,328 | +€2,292 | +6294.3% |
| Other amounts receivable | 41 | €5,767 | €17,101 | +€11,333 | +196.5% |
| Cash at bank and in hand | 54/58 | €124,271 | €254,602 | +€130,331 | +104.9% |
| Deferred charges and accrued income | 490/1 | €3,100 | €4,265 | +€1,165 | +37.6% |
| Total equity and liabilities | 10/49 | €502,112 | €621,324 | +€119,212 | +23.7% |
| Equity | 10/15 | €227,741 | €372,618 | +€144,877 | +63.6% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €226,241 | €371,118 | +€144,877 | +64.0% |
| Distributable reserves | 133 | €226,241 | €371,118 | +€144,877 | +64.0% |
| Amounts payable | 17/49 | €274,371 | €248,706 | -€25,665 | -9.4% |
| Amounts payable after more than one year | 17 | €211,999 | €188,714 | -€23,285 | -11.0% |
| Financial debts | 170/4 | €211,999 | €188,714 | -€23,285 | -11.0% |
| Amounts payable within one year | 42/48 | €62,372 | €59,306 | -€3,066 | -4.9% |
| Current portion of amounts payable after more than one year | 42 | €22,897 | €23,285 | +€388 | +1.7% |
| Trade debts | 44 | €3,575 | €1,042 | -€2,533 | -70.9% |
| Suppliers | 440/4 | €3,575 | €1,042 | -€2,533 | -70.9% |
| Taxes, remuneration and social security | 45 | €35,900 | €34,979 | -€921 | -2.6% |
| Taxes | 450/3 | €35,900 | €34,979 | -€921 | -2.6% |
| Accrued charges and deferred income | 492/3 | - | €686 | +€686 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,385 | €25,909 | -€6,476 | -20.0% |
| Other operating charges | 640/8 | €2,188 | €1,785 | -€403 | -18.4% |
| Gross operating margin | 9900 | €340,326 | €223,639 | -€116,686 | -34.3% |
| Operating profit (loss) | 9901 | €305,752 | €195,945 | -€109,808 | -35.9% |
| Financial income | 75/76B | €1,436 | €182 | -€1,255 | -87.3% |
| Recurring financial income | 75 | €1,436 | €182 | -€1,255 | -87.3% |
| Financial charges | 65/66B | €9,360 | €8,026 | -€1,334 | -14.3% |
| Recurring financial charges | 65 | €9,360 | €8,026 | -€1,334 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | €297,829 | €188,101 | -€109,728 | -36.8% |
| Income taxes | 67/77 | €69,979 | €43,224 | -€26,756 | -38.2% |
| Profit (loss) for the period | 9904 | €227,849 | €144,877 | -€82,972 | -36.4% |
| Profit (loss) for the period to be appropriated | 9905 | €227,849 | €144,877 | -€82,972 | -36.4% |
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 2 October 2026 via checked.be.