BACON: 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.
BACON
Largest movements
- Cash -€75,298
down €75,298 (-47.5%), from €158,550 to €83,253
mainly Contributions, distributions and other (-€132,343) and Other debts (-€11,511)
- Tangible fixed assets -€5,919
down €5,919 (-7.3%), from €81,125 to €75,206
of which Land and buildings: -€8,674
- Receivables within one year -€2,848
down €2,848 (-14.5%), from €19,602 to €16,754
of which Trade receivables: -€2,886
- Reserves -€65,713
down €65,713 (-100%), from €65,713 to €0
- Other debts -€11,511
down €11,511 (-9.3%), from €124,258 to €112,746
- Debts after one year -€7,993
down €7,993 (-29.0%), from €27,530 to €19,537
- Gross operating margin -€10,211
down €10,211 (-9.0%), from €113,856 to €103,645
- Taxes -€2,340
down €2,340 (-10.8%), from €21,680 to €19,340
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 | €261,345 | €177,704 | -€83,641 | -32.0% |
| Fixed assets | 21/28 | €81,125 | €75,206 | -€5,919 | -7.3% |
| Tangible fixed assets | 22/27 | €81,125 | €75,206 | -€5,919 | -7.3% |
| Land and buildings | 22 | €65,941 | €57,267 | -€8,674 | -13.2% |
| Plant, machinery and equipment | 23 | €4,609 | €8,914 | +€4,305 | +93.4% |
| Furniture and vehicles | 24 | €10,574 | €9,024 | -€1,550 | -14.7% |
| Current assets | 29/58 | €180,220 | €102,498 | -€77,722 | -43.1% |
| Amounts receivable within one year | 40/41 | €19,602 | €16,754 | -€2,848 | -14.5% |
| Trade receivables | 40 | €19,602 | €16,716 | -€2,886 | -14.7% |
| Other amounts receivable | 41 | €0 | €38 | +€38 | |
| Cash at bank and in hand | 54/58 | €158,550 | €83,253 | -€75,298 | -47.5% |
| Deferred charges and accrued income | 490/1 | €2,068 | €2,492 | +€424 | +20.5% |
| Total equity and liabilities | 10/49 | €261,345 | €177,704 | -€83,641 | -32.0% |
| Equity | 10/15 | €84,313 | €18,600 | -€65,713 | -77.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €65,713 | €0 | -€65,713 | -100% |
| Distributable reserves | 133 | €65,713 | €0 | -€65,713 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €177,033 | €159,104 | -€17,929 | -10.1% |
| Amounts payable after more than one year | 17 | €27,530 | €19,537 | -€7,993 | -29.0% |
| Financial debts | 170/4 | €27,530 | €19,537 | -€7,993 | -29.0% |
| Amounts payable within one year | 42/48 | €149,502 | €139,567 | -€9,936 | -6.6% |
| Current portion of amounts payable after more than one year | 42 | €7,774 | €7,993 | +€219 | +2.8% |
| Financial debts | 43 | - | €86 | +€86 | |
| Credit institutions | 430/8 | - | €86 | +€86 | |
| Trade debts | 44 | €636 | €28 | -€608 | -95.6% |
| Suppliers | 440/4 | €636 | €28 | -€608 | -95.6% |
| Taxes, remuneration and social security | 45 | €16,835 | €18,714 | +€1,879 | +11.2% |
| Taxes | 450/3 | €16,835 | €14,954 | -€1,881 | -11.2% |
| Remuneration and social security | 454/9 | - | €3,761 | +€3,761 | |
| Other amounts payable | 47/48 | €124,258 | €112,746 | -€11,511 | -9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,160 | €14,998 | +€838 | +5.9% |
| Other operating charges | 640/8 | €1,409 | €1,459 | +€50 | +3.5% |
| Gross operating margin | 9900 | €113,856 | €103,645 | -€10,211 | -9.0% |
| Operating profit (loss) | 9901 | €98,287 | €87,188 | -€11,098 | -11.3% |
| Financial income | 75/76B | €4 | €0 | -€4 | -98.8% |
| Recurring financial income | 75 | €4 | €0 | -€4 | -98.8% |
| Financial charges | 65/66B | €1,431 | €1,219 | -€212 | -14.8% |
| Recurring financial charges | 65 | €1,431 | €1,219 | -€212 | -14.8% |
| Profit (loss) for the period before taxes | 9903 | €96,860 | €85,970 | -€10,891 | -11.2% |
| Income taxes | 67/77 | €21,680 | €19,340 | -€2,340 | -10.8% |
| Profit (loss) for the period | 9904 | €75,181 | €66,630 | -€8,551 | -11.4% |
| Profit (loss) for the period to be appropriated | 9905 | €75,181 | €66,630 | -€8,551 | -11.4% |
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 18 October 2026 via checked.be.