Baave: 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.
Baave
Largest movements
- Cash +€77,062
up €77,062 (+34.7%), from €222,276 to €299,338
mainly Net result for the year (+€88,357) and Trade debts (+€25,488)
- Receivables within one year +€23,964
up €23,964 (+19.0%), from €126,397 to €150,360
of which Other amounts receivable: +€34,262
- Reserves +€88,357
up €88,357 (+29.8%), from €296,127 to €384,484
- Trade debts +€25,488
up €25,488 (+58.0%), from €43,918 to €69,406
- Gross operating margin -€174,817
down €174,817 (-56.2%), from €311,089 to €136,273
- Taxes -€50,056
down €50,056 (-53.4%), from €93,794 to €43,738
- Financial charges -€22,847
down €22,847 (-99.1%), from €23,048 to €201
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 | €689,226 | €790,909 | +€101,683 | +14.8% |
| Fixed assets | 21/28 | €4,753 | €6,280 | +€1,527 | +32.1% |
| Tangible fixed assets | 22/27 | €4,753 | €6,280 | +€1,527 | +32.1% |
| Plant, machinery and equipment | 23 | €1,465 | €4,659 | +€3,194 | +218.0% |
| Furniture and vehicles | 24 | €3,288 | €1,621 | -€1,667 | -50.7% |
| Current assets | 29/58 | €684,473 | €784,629 | +€100,156 | +14.6% |
| Stocks and contracts in progress | 3 | €332,867 | €332,867 | = | 0.0% |
| Stocks | 30/36 | €332,867 | €332,867 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €126,397 | €150,360 | +€23,964 | +19.0% |
| Trade receivables | 40 | €118,897 | €108,598 | -€10,298 | -8.7% |
| Other amounts receivable | 41 | €7,500 | €41,762 | +€34,262 | +456.8% |
| Cash at bank and in hand | 54/58 | €222,276 | €299,338 | +€77,062 | +34.7% |
| Deferred charges and accrued income | 490/1 | €2,933 | €2,064 | -€869 | -29.6% |
| Total equity and liabilities | 10/49 | €689,226 | €790,909 | +€101,683 | +14.8% |
| Equity | 10/15 | €301,127 | €389,484 | +€88,357 | +29.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €296,127 | €384,484 | +€88,357 | +29.8% |
| Distributable reserves | 133 | €296,127 | €384,484 | +€88,357 | +29.8% |
| Amounts payable | 17/49 | €388,099 | €401,425 | +€13,326 | +3.4% |
| Amounts payable within one year | 42/48 | €388,099 | €401,425 | +€13,326 | +3.4% |
| Trade debts | 44 | €43,918 | €69,406 | +€25,488 | +58.0% |
| Suppliers | 440/4 | €43,918 | €69,406 | +€25,488 | +58.0% |
| Taxes, remuneration and social security | 45 | €108,089 | €102,408 | -€5,680 | -5.3% |
| Taxes | 450/3 | €104,747 | €100,116 | -€4,630 | -4.4% |
| Remuneration and social security | 454/9 | €3,342 | €2,292 | -€1,050 | -31.4% |
| Other amounts payable | 47/48 | €236,092 | €229,611 | -€6,481 | -2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,961 | €2,929 | -€33 | -1.1% |
| Other operating charges | 640/8 | €1,455 | €1,124 | -€331 | -22.7% |
| Gross operating margin | 9900 | €311,089 | €136,273 | -€174,817 | -56.2% |
| Operating profit (loss) | 9901 | €306,673 | €132,220 | -€174,453 | -56.9% |
| Financial income | 75/76B | €79 | €76 | -€3 | -4.4% |
| Recurring financial income | 75 | €79 | €76 | -€3 | -4.4% |
| Financial charges | 65/66B | €23,048 | €201 | -€22,847 | -99.1% |
| Recurring financial charges | 65 | €23,048 | €201 | -€22,847 | -99.1% |
| Profit (loss) for the period before taxes | 9903 | €283,705 | €132,095 | -€151,609 | -53.4% |
| Income taxes | 67/77 | €93,794 | €43,738 | -€50,056 | -53.4% |
| Profit (loss) for the period | 9904 | €189,911 | €88,357 | -€101,554 | -53.5% |
| Profit (loss) for the period to be appropriated | 9905 | €189,911 | €88,357 | -€101,554 | -53.5% |
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 5 October 2026 via checked.be.