BACOSE: 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.
BACOSE
Largest movements
- Receivables within one year +€83,624
up €83,624 (+187.7%), from €44,551 to €128,175
of which Other amounts receivable: +€64,189
- Cash -€56,052
down €56,052 (-31.3%), from €179,304 to €123,251
mainly Receivables within one year (-€83,624) and Contributions, distributions and other (-€24,295)
- Reserves +€31,771
up €31,771 (+12.8%), from €248,135 to €279,905
- Debts after one year -€11,841
down €11,841 (-10.6%), from €111,860 to €100,019
- Tax, wage and social debts +€6,845
up €6,845 (+70.1%), from €9,765 to €16,610
- Gross operating margin +€7,294
up €7,294 (+8.7%), from €83,559 to €90,853
- Depreciation +€2,618
up €2,618 (+22.9%), from €11,423 to €14,041
- Taxes +€2,221
up €2,221 (+11.1%), from €19,965 to €22,186
- Financial income +€1,782
up €1,782 (+67.1%), from €2,654 to €4,437
- Financial charges -€1,670
down €1,670 (-49.9%), from €3,344 to €1,675
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 | €398,280 | €422,103 | +€23,823 | +6.0% |
| Fixed assets | 21/28 | €168,067 | €166,548 | -€1,518 | -0.9% |
| Tangible fixed assets | 22/27 | €168,067 | €166,548 | -€1,518 | -0.9% |
| Land and buildings | 22 | €162,024 | €154,316 | -€7,708 | -4.8% |
| Plant, machinery and equipment | 23 | €3,948 | €1,693 | -€2,256 | -57.1% |
| Furniture and vehicles | 24 | €2,094 | €10,540 | +€8,445 | +403.3% |
| Current assets | 29/58 | €230,213 | €255,555 | +€25,342 | +11.0% |
| Amounts receivable within one year | 40/41 | €44,551 | €128,175 | +€83,624 | +187.7% |
| Trade receivables | 40 | €19,677 | €39,111 | +€19,435 | +98.8% |
| Other amounts receivable | 41 | €24,875 | €89,064 | +€64,189 | +258.0% |
| Cash at bank and in hand | 54/58 | €179,304 | €123,251 | -€56,052 | -31.3% |
| Deferred charges and accrued income | 490/1 | €6,358 | €4,128 | -€2,230 | -35.1% |
| Total equity and liabilities | 10/49 | €398,280 | €422,103 | +€23,823 | +6.0% |
| Equity | 10/15 | €260,535 | €292,305 | +€31,771 | +12.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €248,135 | €279,905 | +€31,771 | +12.8% |
| Distributable reserves | 133 | €248,135 | €279,905 | +€31,771 | +12.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €137,745 | €129,798 | -€7,947 | -5.8% |
| Amounts payable after more than one year | 17 | €111,860 | €100,019 | -€11,841 | -10.6% |
| Financial debts | 170/4 | €111,860 | €100,019 | -€11,841 | -10.6% |
| Amounts payable within one year | 42/48 | €25,760 | €29,666 | +€3,906 | +15.2% |
| Current portion of amounts payable after more than one year | 42 | €12,669 | €12,821 | +€153 | +1.2% |
| Trade debts | 44 | €3,327 | €235 | -€3,092 | -92.9% |
| Suppliers | 440/4 | €3,327 | €235 | -€3,092 | -92.9% |
| Taxes, remuneration and social security | 45 | €9,765 | €16,610 | +€6,845 | +70.1% |
| Taxes | 450/3 | €9,765 | €16,610 | +€6,845 | +70.1% |
| Accrued charges and deferred income | 492/3 | €125 | €113 | -€12 | -9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,423 | €14,041 | +€2,618 | +22.9% |
| Other operating charges | 640/8 | €1,344 | €1,322 | -€22 | -1.6% |
| Gross operating margin | 9900 | €83,559 | €90,853 | +€7,294 | +8.7% |
| Operating profit (loss) | 9901 | €70,792 | €75,490 | +€4,698 | +6.6% |
| Financial income | 75/76B | €2,654 | €4,437 | +€1,782 | +67.1% |
| Recurring financial income | 75 | €2,654 | €4,437 | +€1,782 | +67.1% |
| Financial charges | 65/66B | €3,344 | €1,675 | -€1,670 | -49.9% |
| Recurring financial charges | 65 | €3,344 | €1,675 | -€1,670 | -49.9% |
| Profit (loss) for the period before taxes | 9903 | €70,102 | €78,251 | +€8,149 | +11.6% |
| Income taxes | 67/77 | €19,965 | €22,186 | +€2,221 | +11.1% |
| Profit (loss) for the period | 9904 | €50,137 | €56,066 | +€5,928 | +11.8% |
| Profit (loss) for the period to be appropriated | 9905 | €50,137 | €56,066 | +€5,928 | +11.8% |
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.