Baart & Koninckx: what changed
Baart & Koninckx
Largest movements
- Current investments +€20,866
up €20,866 (+3.6%), from €574,317 to €595,183
- Tangible fixed assets +€13,843
up €13,843 (+8.7%), from €158,823 to €172,666
of which Other tangible fixed assets: +€31,894
- Cash -€10,089
down €10,089 (-9.1%), from €110,838 to €100,750
mainly Investment in fixed assets (net) (-€35,876) and Current investments (-€20,866)
- Receivables within one year +€9,601
up €9,601 (+57.9%), from €16,584 to €26,185
of which Other amounts receivable: +€14,185
- Reserves +€21,000
up €21,000 (+3.0%), from €702,100 to €723,100
- Other debts +€13,945
up €13,945 (+221%), from €6,297 to €20,241
- Debts after one year -€13,249
down €13,249 (-17.7%), from €74,855 to €61,605
- Trade debts +€11,163
up €11,163 (+94.6%), from €11,801 to €22,964
- Taxes -€13,023
down €13,023 (-49.5%), from €26,292 to €13,270
- Gross operating margin -€9,133
down €9,133 (-12.1%), from €75,516 to €66,383
- Financial income -€6,952
down €6,952 (-38.1%), from €18,255 to €11,304
- Financial charges +€5,867
up €5,867 (+80.4%), from €7,293 to €13,160
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €861,912 | €894,783 | +€32,871 | +3.8% |
| Fixed assets | 21/28 | €158,823 | €172,666 | +€13,843 | +8.7% |
| Tangible fixed assets | 22/27 | €158,823 | €172,666 | +€13,843 | +8.7% |
| Land and buildings | 22 | €123,569 | €112,409 | -€11,160 | -9.0% |
| Plant, machinery and equipment | 23 | €3,923 | €1,722 | -€2,201 | -56.1% |
| Furniture and vehicles | 24 | €8,025 | €3,335 | -€4,691 | -58.4% |
| Other tangible fixed assets | 26 | €23,306 | €55,200 | +€31,894 | +137% |
| Current assets | 29/58 | €703,089 | €722,117 | +€19,029 | +2.7% |
| Amounts receivable within one year | 40/41 | €16,584 | €26,185 | +€9,601 | +57.9% |
| Trade receivables | 40 | €4,584 | - | -€4,584 | |
| Other amounts receivable | 41 | €12,000 | €26,185 | +€14,185 | +118% |
| Current investments | 50/53 | €574,317 | €595,183 | +€20,866 | +3.6% |
| Cash at bank and in hand | 54/58 | €110,838 | €100,750 | -€10,089 | -9.1% |
| Deferred charges and accrued income | 490/1 | €1,349 | - | -€1,349 | |
| Total equity and liabilities | 10/49 | €861,912 | €894,783 | +€32,871 | +3.8% |
| Equity | 10/15 | €739,813 | €761,518 | +€21,705 | +2.9% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €702,100 | €723,100 | +€21,000 | +3.0% |
| Distributable reserves | 133 | €702,100 | €723,100 | +€21,000 | +3.0% |
| Profit (loss) carried forward | 14 | €37,613 | €38,318 | +€705 | +1.9% |
| Amounts payable | 17/49 | €122,099 | €133,265 | +€11,166 | +9.1% |
| Amounts payable after more than one year | 17 | €74,855 | €61,605 | -€13,249 | -17.7% |
| Financial debts | 170/4 | €74,855 | €61,605 | -€13,249 | -17.7% |
| Amounts payable within one year | 42/48 | €47,244 | €71,659 | +€24,415 | +51.7% |
| Current portion of amounts payable after more than one year | 42 | €12,597 | €13,249 | +€652 | +5.2% |
| Trade debts | 44 | €11,801 | €22,964 | +€11,163 | +94.6% |
| Suppliers | 440/4 | €11,801 | €22,964 | +€11,163 | +94.6% |
| Taxes, remuneration and social security | 45 | €16,550 | €15,205 | -€1,345 | -8.1% |
| Taxes | 450/3 | €16,550 | €15,205 | -€1,345 | -8.1% |
| Other amounts payable | 47/48 | €6,297 | €20,241 | +€13,945 | +221% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,082 | €22,034 | -€48 | -0.2% |
| Other operating charges | 640/8 | €8,065 | €7,518 | -€547 | -6.8% |
| Gross operating margin | 9900 | €75,516 | €66,383 | -€9,133 | -12.1% |
| Operating profit (loss) | 9901 | €45,369 | €36,832 | -€8,537 | -18.8% |
| Financial income | 75/76B | €18,255 | €11,304 | -€6,952 | -38.1% |
| Recurring financial income | 75 | €18,255 | €11,304 | -€6,952 | -38.1% |
| Financial charges | 65/66B | €7,293 | €13,160 | +€5,867 | +80.4% |
| Recurring financial charges | 65 | €7,293 | €13,160 | +€5,867 | +80.4% |
| Profit (loss) for the period before taxes | 9903 | €56,331 | €34,975 | -€21,356 | -37.9% |
| Income taxes | 67/77 | €26,292 | €13,270 | -€13,023 | -49.5% |
| Profit (loss) for the period | 9904 | €30,039 | €21,705 | -€8,333 | -27.7% |
| Profit (loss) for the period to be appropriated | 9905 | €30,039 | €21,705 | -€8,333 | -27.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.