BAECKE: 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.
BAECKE
Largest movements
- Cash +€39,343
up €39,343 (+118.4%), from €33,221 to €72,563
mainly Receivables within one year (+€31,014) and Stocks and contracts (+€6,806)
- Receivables within one year -€31,014
down €31,014 (-20.2%), from €153,340 to €122,325
of which Trade receivables: -€31,014
- Stocks and contracts -€6,806
down €6,806 (-31.3%), from €21,722 to €14,915
- Tax, wage and social debts +€4,324
up €4,324 (+268.1%), from €1,613 to €5,937
- Trade debts -€2,987
down €2,987 (-22.2%), from €13,441 to €10,454
- Gross operating margin -€17,876
down €17,876 (-63.3%), from €28,244 to €10,369
- Taxes -€4,013
down €4,013 (-50.8%), from €7,901 to €3,888
- Depreciation +€1,770
up €1,770 (+144.8%), from €1,223 to €2,993
- Write-downs -€1,670
no longer reported in 2025 (was €1,670)
- Financial income +€1,522
up €1,522 (+63.8%), from €2,387 to €3,909
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 | €217,860 | €219,678 | +€1,819 | +0.8% |
| Fixed assets | 21/28 | €8,943 | €9,874 | +€931 | +10.4% |
| Tangible fixed assets | 22/27 | €8,943 | €9,874 | +€931 | +10.4% |
| Plant, machinery and equipment | 23 | €7,851 | €9,874 | +€2,023 | +25.8% |
| Furniture and vehicles | 24 | €1,092 | - | -€1,092 | |
| Current assets | 29/58 | €208,917 | €209,804 | +€887 | +0.4% |
| Stocks and contracts in progress | 3 | €21,722 | €14,915 | -€6,806 | -31.3% |
| Stocks | 30/36 | €21,722 | €14,915 | -€6,806 | -31.3% |
| Amounts receivable within one year | 40/41 | €153,340 | €122,325 | -€31,014 | -20.2% |
| Trade receivables | 40 | €133,340 | €102,325 | -€31,014 | -23.3% |
| Other amounts receivable | 41 | €20,000 | €20,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €33,221 | €72,563 | +€39,343 | +118.4% |
| Deferred charges and accrued income | 490/1 | €635 | - | -€635 | |
| Total equity and liabilities | 10/49 | €217,860 | €219,678 | +€1,819 | +0.8% |
| Equity | 10/15 | €199,908 | €200,389 | +€481 | +0.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €72,392 | €72,874 | +€481 | +0.7% |
| Distributable reserves | 133 | €72,392 | €72,874 | +€481 | +0.7% |
| Profit (loss) carried forward | 14 | €107,516 | €107,516 | = | 0.0% |
| Amounts payable | 17/49 | €17,952 | €19,289 | +€1,337 | +7.4% |
| Amounts payable within one year | 42/48 | €17,952 | €19,289 | +€1,337 | +7.4% |
| Trade debts | 44 | €13,441 | €10,454 | -€2,987 | -22.2% |
| Suppliers | 440/4 | €13,441 | €10,454 | -€2,987 | -22.2% |
| Taxes, remuneration and social security | 45 | €1,613 | €5,937 | +€4,324 | +268.1% |
| Taxes | 450/3 | €1,613 | €5,937 | +€4,324 | +268.1% |
| Other amounts payable | 47/48 | €2,898 | €2,898 | = | 0.0% |
| Non-recurring operating income | 76A | €18,805 | €18,693 | -€112 | -0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,223 | €2,993 | +€1,770 | +144.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,670 | - | -€1,670 | |
| Other operating charges | 640/8 | €528 | €544 | +€16 | +3.0% |
| Gross operating margin | 9900 | €28,244 | €10,369 | -€17,876 | -63.3% |
| Operating profit (loss) | 9901 | €24,824 | €6,832 | -€17,992 | -72.5% |
| Financial income | 75/76B | €2,387 | €3,909 | +€1,522 | +63.8% |
| Recurring financial income | 75 | €2,387 | €3,909 | +€1,522 | +63.8% |
| Financial charges | 65/66B | €5,160 | €6,371 | +€1,211 | +23.5% |
| Recurring financial charges | 65 | €5,160 | €6,371 | +€1,211 | +23.5% |
| Profit (loss) for the period before taxes | 9903 | €22,050 | €4,369 | -€17,681 | -80.2% |
| Income taxes | 67/77 | €7,901 | €3,888 | -€4,013 | -50.8% |
| Profit (loss) for the period | 9904 | €14,149 | €481 | -€13,668 | -96.6% |
| Profit (loss) for the period to be appropriated | 9905 | €14,149 | €481 | -€13,668 | -96.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.