BAAR & FILS: 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.
BAAR & FILS
Largest movements
- Tangible fixed assets +€31,130
up €31,130 (+12.9%), from €240,466 to €271,596
of which Leasing and similar rights: +€18,636
- Receivables within one year +€18,036
up €18,036 (+18.8%), from €95,966 to €114,001
of which Trade receivables: +€19,636
- Stocks and contracts -€16,826
down €16,826 (-18.9%), from €89,076 to €72,250
- Cash +€13,233
up €13,233 (+57,285%), from €23 to €13,256
mainly Net result for the year (+€98,886) and Depreciation (+€19,360)
- Profit (loss) carried forward +€75,097
up €75,097 (+244%), from €30,734 to €105,832
- Short-term financial debts -€50,982
down €50,982 (-100%), from €50,982 to €0
- Trade debts -€25,836
down €25,836 (-26.4%), from €97,737 to €71,901
- Tax, wage and social debts +€17,960
up €17,960 (+243%), from €7,399 to €25,358
of which Taxes: +€18,960
- Reserves +€13,789
up €13,789 (+618%), from €2,231 to €16,020
of which Tax-exempt reserves: +€13,789
- Gross operating margin +€102,254
up €102,254 (+212%), from €48,319 to €150,572
- Depreciation -€24,795
down €24,795 (-56.2%), from €44,155 to €19,360
- Taxes +€18,851
up €18,851 (+12,122%), from €156 to €19,007
- Financial charges +€5,086
up €5,086 (+62.8%), from €8,095 to €13,181
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.
Derived cash bridge
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 | €426,526 | €472,499 | +€45,973 | +10.8% |
| Fixed assets | 21/28 | €240,467 | €271,597 | +€31,130 | +12.9% |
| Intangible fixed assets | 21 | €1 | €1 | = | 0.0% |
| Tangible fixed assets | 22/27 | €240,466 | €271,596 | +€31,130 | +12.9% |
| Land and buildings | 22 | €193,573 | €193,353 | -€220 | -0.1% |
| Plant, machinery and equipment | 23 | €16,905 | €26,608 | +€9,703 | +57.4% |
| Furniture and vehicles | 24 | €11,546 | €14,556 | +€3,010 | +26.1% |
| Leasing and similar rights | 25 | €18,443 | €37,080 | +€18,636 | +101% |
| Current assets | 29/58 | €186,058 | €200,902 | +€14,843 | +8.0% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Trade receivables | 290 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €89,076 | €72,250 | -€16,826 | -18.9% |
| Stocks | 30/36 | €89,076 | €72,250 | -€16,826 | -18.9% |
| Amounts receivable within one year | 40/41 | €95,966 | €114,001 | +€18,036 | +18.8% |
| Trade receivables | 40 | €33,804 | €53,440 | +€19,636 | +58.1% |
| Other amounts receivable | 41 | €62,162 | €60,561 | -€1,601 | -2.6% |
| Cash at bank and in hand | 54/58 | €23 | €13,256 | +€13,233 | +57,285% |
| Deferred charges and accrued income | 490/1 | €994 | €1,395 | +€401 | +40.4% |
| Total equity and liabilities | 10/49 | €426,526 | €472,499 | +€45,973 | +10.8% |
| Equity | 10/15 | €55,276 | €144,162 | +€88,886 | +161% |
| Contributions | 10/11 | €22,310 | €22,310 | = | 0.0% |
| Reserves | 13 | €2,231 | €16,020 | +€13,789 | +618% |
| Tax-exempt reserves | 132 | - | €13,789 | +€13,789 | |
| Distributable reserves | 133 | €2,231 | €2,231 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,734 | €105,832 | +€75,097 | +244% |
| Amounts payable | 17/49 | €371,250 | €328,337 | -€42,913 | -11.6% |
| Amounts payable after more than one year | 17 | €190,020 | €198,762 | +€8,742 | +4.6% |
| Financial debts | 170/4 | €190,020 | €198,762 | +€8,742 | +4.6% |
| Amounts payable within one year | 42/48 | €181,230 | €128,420 | -€52,810 | -29.1% |
| Current portion of amounts payable after more than one year | 42 | €25,112 | €21,160 | -€3,952 | -15.7% |
| Financial debts | 43 | €50,982 | €0 | -€50,982 | -100% |
| Credit institutions | 430/8 | €50,982 | €0 | -€50,982 | -100% |
| Trade debts | 44 | €97,737 | €71,901 | -€25,836 | -26.4% |
| Suppliers | 440/4 | €97,737 | €71,901 | -€25,836 | -26.4% |
| Taxes, remuneration and social security | 45 | €7,399 | €25,358 | +€17,960 | +243% |
| Taxes | 450/3 | €2,099 | €21,058 | +€18,960 | +903% |
| Remuneration and social security | 454/9 | €5,300 | €4,300 | -€1,000 | -18.9% |
| Other amounts payable | 47/48 | €0 | €10,000 | +€10,000 | |
| Accrued charges and deferred income | 492/3 | - | €1,155 | +€1,155 | |
| Turnover | 70 | €0 | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | €0 | = | |
| Remuneration, social security and pensions | 62 | €0 | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,155 | €19,360 | -€24,795 | -56.2% |
| Other operating charges | 640/8 | €2,496 | €3,360 | +€864 | +34.6% |
| Gross operating margin | 9900 | €48,319 | €150,572 | +€102,254 | +212% |
| Operating profit (loss) | 9901 | €1,667 | €127,852 | +€126,185 | +7,568% |
| Financial income | 75/76B | €2,012 | €3,222 | +€1,210 | +60.1% |
| Recurring financial income | 75 | €2,012 | €3,222 | +€1,210 | +60.1% |
| Financial charges | 65/66B | €8,095 | €13,181 | +€5,086 | +62.8% |
| Recurring financial charges | 65 | €8,095 | €13,181 | +€5,086 | +62.8% |
| Profit (loss) for the period before taxes | 9903 | -€4,416 | €117,893 | +€122,308 | |
| Income taxes | 67/77 | €156 | €19,007 | +€18,851 | +12,122% |
| Profit (loss) for the period | 9904 | -€4,571 | €98,886 | +€103,457 | |
| Transfer from tax-exempt reserves | 789 | - | €3,168 | +€3,168 | |
| Transfer to tax-exempt reserves | 689 | - | €16,957 | +€16,957 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,571 | €85,097 | +€89,669 |
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 19 October 2026 via checked.be.