Baeck Cladding: 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.
Baeck Cladding
Largest movements
- Receivables within one year -€819,010
down €819,010 (-40.0%), from €2.0m to €1.2m
of which Trade receivables: -€478,962
- Tangible fixed assets -€27,227
down €27,227 (-71.9%), from €37,857 to €10,631
of which Furniture and vehicles: -€29,799
- Trade debts -€627,105
down €627,105 (-48.7%), from €1.3m to €659,697
- Advances received -€216,679
down €216,679 (-77.9%), from €278,293 to €61,614
- Other debts -€102,523
down €102,523 (-25.9%), from €395,359 to €292,836
- Profit (loss) carried forward +€29,948
up €29,948 (+9.8%), from €304,798 to €334,746
- Tax, wage and social debts +€26,703
up €26,703 (+13.3%), from €200,857 to €227,559
of which Taxes: +€23,790
- Gross operating margin -€437,469
down €437,469 (-27.7%), from €1.6m to €1.1m
- Taxes -€85,969
down €85,969 (-78.5%), from €109,510 to €23,542
- Staff costs -€75,779
down €75,779 (-6.9%), from €1.1m to €1.0m
- Depreciation -€17,659
down €17,659 (-32.5%), from €54,325 to €36,666
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,538,315 | €1,649,100 | -€889,215 | -35.0% |
| Fixed assets | 21/28 | €71,468 | €34,781 | -€36,687 | -51.3% |
| Intangible fixed assets | 21 | €11,011 | €6,550 | -€4,460 | -40.5% |
| Tangible fixed assets | 22/27 | €37,857 | €10,631 | -€27,227 | -71.9% |
| Plant, machinery and equipment | 23 | €5,671 | €8,243 | +€2,573 | +45.4% |
| Furniture and vehicles | 24 | €32,187 | €2,387 | -€29,799 | -92.6% |
| Financial fixed assets | 28 | €22,600 | €17,600 | -€5,000 | -22.1% |
| Current assets | 29/58 | €2,466,847 | €1,614,319 | -€852,528 | -34.6% |
| Stocks and contracts in progress | 3 | €390,766 | €373,069 | -€17,697 | -4.5% |
| Contracts in progress | 37 | €390,766 | €373,069 | -€17,697 | -4.5% |
| Amounts receivable within one year | 40/41 | €2,045,848 | €1,226,838 | -€819,010 | -40.0% |
| Trade receivables | 40 | €1,611,132 | €1,132,170 | -€478,962 | -29.7% |
| Other amounts receivable | 41 | €434,716 | €94,668 | -€340,048 | -78.2% |
| Deferred charges and accrued income | 490/1 | €30,232 | €14,412 | -€15,820 | -52.3% |
| Total equity and liabilities | 10/49 | €2,538,315 | €1,649,100 | -€889,215 | -35.0% |
| Equity | 10/15 | €377,005 | €406,953 | +€29,948 | +7.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €10,207 | €10,207 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,207 | €10,207 | = | 0.0% |
| Legal reserve | 130 | €10,207 | €10,207 | = | 0.0% |
| Profit (loss) carried forward | 14 | €304,798 | €334,746 | +€29,948 | +9.8% |
| Amounts payable | 17/49 | €2,161,310 | €1,242,147 | -€919,162 | -42.5% |
| Amounts payable within one year | 42/48 | €2,161,310 | €1,241,706 | -€919,604 | -42.5% |
| Trade debts | 44 | €1,286,801 | €659,697 | -€627,105 | -48.7% |
| Suppliers | 440/4 | €1,286,801 | €659,697 | -€627,105 | -48.7% |
| Advances received on contracts in progress | 46 | €278,293 | €61,614 | -€216,679 | -77.9% |
| Taxes, remuneration and social security | 45 | €200,857 | €227,559 | +€26,703 | +13.3% |
| Taxes | 450/3 | €118,317 | €142,108 | +€23,790 | +20.1% |
| Remuneration and social security | 454/9 | €82,539 | €85,451 | +€2,912 | +3.5% |
| Other amounts payable | 47/48 | €395,359 | €292,836 | -€102,523 | -25.9% |
| Accrued charges and deferred income | 492/3 | - | €441 | +€441 | |
| Non-recurring operating income | 76A | €10,665 | €16,518 | +€5,852 | +54.9% |
| Remuneration, social security and pensions | 62 | €1,090,629 | €1,014,850 | -€75,779 | -6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,325 | €36,666 | -€17,659 | -32.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,698 | €0 | -€1,698 | -100% |
| Other operating charges | 640/8 | €3,053 | €1,958 | -€1,095 | -35.9% |
| Non-recurring operating charges | 66A | €3,145 | €799 | -€2,347 | -74.6% |
| Gross operating margin | 9900 | €1,577,555 | €1,140,087 | -€437,469 | -27.7% |
| Operating profit (loss) | 9901 | €424,705 | €85,815 | -€338,891 | -79.8% |
| Financial income | 75/76B | €13,212 | €5,632 | -€7,579 | -57.4% |
| Recurring financial income | 75 | €13,212 | €5,632 | -€7,579 | -57.4% |
| Financial charges | 65/66B | €23,608 | €37,958 | +€14,349 | +60.8% |
| Recurring financial charges | 65 | €23,608 | €37,958 | +€14,349 | +60.8% |
| Profit (loss) for the period before taxes | 9903 | €414,309 | €53,489 | -€360,819 | -87.1% |
| Income taxes | 67/77 | €109,510 | €23,542 | -€85,969 | -78.5% |
| Profit (loss) for the period | 9904 | €304,798 | €29,948 | -€274,850 | -90.2% |
| Profit (loss) for the period to be appropriated | 9905 | €304,798 | €29,948 | -€274,850 | -90.2% |
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 13 October 2026 via checked.be.