Baconik: 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.
Baconik
Largest movements
- Tangible fixed assets -€6.5m
down €6.5m (-74.7%), from €8.8m to €2.2m
of which Land and buildings: -€6.0m
- Receivables after one year +€1.7m
new in 2025: €1.7m
- Cash -€442,806
down €442,806 (-95.5%), from €463,895 to €21,089
mainly Contributions, distributions and other (-€6.0m) and Debts after one year (-€1.7m)
- Receivables within one year -€193,507
down €193,507 (-38.6%), from €500,872 to €307,365
of which Trade receivables: -€443,507
- Profit (loss) carried forward -€3.7m
down €3.7m (-93.0%), from €4.0m to €275,310
- Debts after one year -€1.7m
down €1.7m (-63.5%), from €2.7m to €984,082
- Current portion of long-term debt -€332,317
down €332,317 (-60.1%), from €552,891 to €220,574
- Reserves +€116,230
up €116,230 (+6.9%), from €1.7m to €1.8m
of which Tax-exempt reserves: +€116,230
- Accrued charges and deferred income -€102,718
down €102,718 (-88.0%), from €116,726 to €14,008
- Gross operating margin +€2.0m
up €2.0m (+112.6%), from €1.8m to €3.7m
- Taxes +€508,224
up €508,224 (+183.6%), from €276,739 to €784,963
- Depreciation -€386,376
down €386,376 (-63.8%), from €605,350 to €218,974
- Staff costs -€96,000
no longer reported in 2025 (was €96,000)
- Financial charges -€66,925
down €66,925 (-55.3%), from €120,958 to €54,033
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 | €9,720,127 | €4,227,569 | -€5.5m | -56.5% |
| Fixed assets | 21/28 | €8,753,383 | €2,215,745 | -€6.5m | -74.7% |
| Tangible fixed assets | 22/27 | €8,753,383 | €2,215,745 | -€6.5m | -74.7% |
| Land and buildings | 22 | €8,109,691 | €2,084,932 | -€6.0m | -74.3% |
| Plant, machinery and equipment | 23 | €602,128 | €130,416 | -€471,712 | -78.3% |
| Furniture and vehicles | 24 | €6,227 | €397 | -€5,830 | -93.6% |
| Other tangible fixed assets | 26 | €35,336 | - | -€35,336 | |
| Current assets | 29/58 | €966,745 | €2,011,824 | +€1.0m | +108.1% |
| Amounts receivable after more than one year | 29 | - | €1,683,100 | +€1.7m | |
| Trade receivables | 290 | - | €1,683,100 | +€1.7m | |
| Amounts receivable within one year | 40/41 | €500,872 | €307,365 | -€193,507 | -38.6% |
| Trade receivables | 40 | €500,872 | €57,365 | -€443,507 | -88.5% |
| Other amounts receivable | 41 | - | €250,000 | +€250,000 | |
| Current investments | 50/53 | €8 | €5 | -€3 | -40.0% |
| Cash at bank and in hand | 54/58 | €463,895 | €21,089 | -€442,806 | -95.5% |
| Deferred charges and accrued income | 490/1 | €1,970 | €265 | -€1,705 | -86.5% |
| Total equity and liabilities | 10/49 | €9,720,127 | €4,227,569 | -€5.5m | -56.5% |
| Equity | 10/15 | €5,838,932 | €2,275,498 | -€3.6m | -61.0% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €1,683,958 | €1,800,188 | +€116,230 | +6.9% |
| Non-distributable reserves | 130/1 | €51,314 | €51,314 | -€0 | 0.0% |
| Legal reserve | 130 | €49,579 | €49,579 | +€0 | 0.0% |
| Reserves not available under the articles | 1311 | €1,736 | €1,735 | -€1 | 0.0% |
| Tax-exempt reserves | 132 | €1,619,381 | €1,735,611 | +€116,230 | +7.2% |
| Distributable reserves | 133 | €13,263 | €13,263 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | €3,954,974 | €275,310 | -€3.7m | -93.0% |
| Provisions and deferred taxes | 16 | €502,815 | €575,774 | +€72,959 | +14.5% |
| Provisions for liabilities and charges | 160/5 | €502,815 | - | -€502,815 | |
| Environmental obligations | 163 | €502,815 | - | -€502,815 | |
| Deferred taxes | 168 | - | €575,774 | +€575,774 | |
| Amounts payable | 17/49 | €3,378,381 | €1,376,297 | -€2.0m | -59.3% |
| Amounts payable after more than one year | 17 | €2,697,143 | €984,082 | -€1.7m | -63.5% |
| Financial debts | 170/4 | €2,697,143 | €984,082 | -€1.7m | -63.5% |
| Amounts payable within one year | 42/48 | €564,512 | €378,207 | -€186,305 | -33.0% |
| Current portion of amounts payable after more than one year | 42 | €552,891 | €220,574 | -€332,317 | -60.1% |
| Trade debts | 44 | €4,881 | €54,132 | +€49,251 | +1009.0% |
| Suppliers | 440/4 | €4,881 | €54,132 | +€49,251 | +1009.0% |
| Taxes, remuneration and social security | 45 | €6,739 | €85,410 | +€78,671 | +1167.3% |
| Taxes | 450/3 | €6,739 | €85,410 | +€78,671 | +1167.3% |
| Other amounts payable | 47/48 | - | €18,091 | +€18,091 | |
| Accrued charges and deferred income | 492/3 | €116,726 | €14,008 | -€102,718 | -88.0% |
| Non-recurring operating income | 76A | - | €2,899,737 | +€2.9m | |
| Remuneration, social security and pensions | 62 | €96,000 | - | -€96,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €605,350 | €218,974 | -€386,376 | -63.8% |
| Other operating charges | 640/8 | €115,080 | €147,800 | +€32,720 | +28.4% |
| Gross operating margin | 9900 | €1,760,218 | €3,743,079 | +€2.0m | +112.6% |
| Operating profit (loss) | 9901 | €943,788 | €3,376,305 | +€2.4m | +257.7% |
| Financial income | 75/76B | €0 | €2,217 | +€2,217 | +22169900.0% |
| Recurring financial income | 75 | €0 | €2,217 | +€2,217 | +22169900.0% |
| Financial charges | 65/66B | €120,958 | €54,033 | -€66,925 | -55.3% |
| Recurring financial charges | 65 | €120,958 | €54,033 | -€66,925 | -55.3% |
| Profit (loss) for the period before taxes | 9903 | €822,831 | €3,324,489 | +€2.5m | +304.0% |
| Transfer from deferred taxes | 780 | €65,894 | €473,887 | +€407,993 | +619.2% |
| Transfer to deferred taxes | 680 | - | €546,847 | +€546,847 | |
| Income taxes | 67/77 | €276,739 | €784,963 | +€508,224 | +183.6% |
| Profit (loss) for the period | 9904 | €611,986 | €2,466,566 | +€1.9m | +303.0% |
| Transfer from tax-exempt reserves | 789 | €219,512 | €1,524,310 | +€1.3m | +594.4% |
| Transfer to tax-exempt reserves | 689 | - | €1,640,540 | +€1.6m | |
| Profit (loss) for the period to be appropriated | 9905 | €831,498 | €2,350,336 | +€1.5m | +182.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 October 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.