BAELDE: 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.
BAELDE
Largest movements
- Stocks and contracts -€109,833
down €109,833 (-98.5%), from €111,458 to €1,626
- Cash +€67,133
up €67,133 (+160%), from €42,054 to €109,187
mainly Stocks and contracts (+€109,833) and Net result for the year (+€12,179)
- Tangible fixed assets -€9,715
down €9,715 (-31.5%), from €30,807 to €21,092
of which Land and buildings: -€5,890
- Intangible fixed assets -€2,038
down €2,038 (-65.5%), from €3,112 to €1,075
- Tax, wage and social debts -€28,072
down €28,072 (-78.7%), from €35,682 to €7,610
of which Taxes: -€23,214
- Trade debts -€13,133
down €13,133 (-55.2%), from €23,780 to €10,648
- Profit (loss) carried forward +€12,179
up €12,179 (+79.1%), from -€15,396 to -€3,217
- Debts after one year -€8,495
down €8,495 (-27.6%), from €30,825 to €22,329
- Advances received -€8,075
down €8,075 (-89.9%), from €8,978 to €903
- Staff costs -€16,032
down €16,032 (-38.9%), from €41,254 to €25,222
- Gross operating margin -€6,652
down €6,652 (-9.7%), from €68,736 to €62,084
- Taxes +€4,151
up €4,151 (+1,965%), from €211 to €4,363
- Financial charges -€1,458
down €1,458 (-15.8%), from €9,252 to €7,794
- Depreciation -€1,050
down €1,050 (-8.2%), from €12,802 to €11,752
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 | €188,774 | €135,113 | -€53,660 | -28.4% |
| Fixed assets | 21/28 | €33,944 | €22,167 | -€11,777 | -34.7% |
| Intangible fixed assets | 21 | €3,112 | €1,075 | -€2,038 | -65.5% |
| Tangible fixed assets | 22/27 | €30,807 | €21,092 | -€9,715 | -31.5% |
| Land and buildings | 22 | €25,358 | €19,468 | -€5,890 | -23.2% |
| Plant, machinery and equipment | 23 | €1,947 | €1,352 | -€595 | -30.5% |
| Furniture and vehicles | 24 | €3,502 | €272 | -€3,230 | -92.2% |
| Financial fixed assets | 28 | €25 | - | -€25 | |
| Current assets | 29/58 | €154,830 | €112,946 | -€41,884 | -27.1% |
| Stocks and contracts in progress | 3 | €111,458 | €1,626 | -€109,833 | -98.5% |
| Stocks | 30/36 | €111,458 | €1,626 | -€109,833 | -98.5% |
| Amounts receivable within one year | 40/41 | €640 | €2,133 | +€1,493 | +233% |
| Trade receivables | 40 | €320 | €1,676 | +€1,356 | +424% |
| Other amounts receivable | 41 | €320 | €457 | +€137 | +42.9% |
| Cash at bank and in hand | 54/58 | €42,054 | €109,187 | +€67,133 | +160% |
| Deferred charges and accrued income | 490/1 | €677 | - | -€677 | |
| Total equity and liabilities | 10/49 | €188,774 | €135,113 | -€53,660 | -28.4% |
| Equity | 10/15 | €32,112 | €44,290 | +€12,179 | +37.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €28,916 | €28,916 | = | 0.0% |
| Distributable reserves | 133 | €28,916 | €28,916 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,396 | -€3,217 | +€12,179 | +79.1% |
| Amounts payable | 17/49 | €156,662 | €90,823 | -€65,839 | -42.0% |
| Amounts payable after more than one year | 17 | €30,825 | €22,329 | -€8,495 | -27.6% |
| Financial debts | 170/4 | €30,825 | €22,329 | -€8,495 | -27.6% |
| Amounts payable within one year | 42/48 | €122,255 | €65,609 | -€56,646 | -46.3% |
| Current portion of amounts payable after more than one year | 42 | €8,090 | €8,495 | +€405 | +5.0% |
| Financial debts | 43 | €2,200 | - | -€2,200 | |
| Credit institutions | 430/8 | €2,200 | - | -€2,200 | |
| Trade debts | 44 | €23,780 | €10,648 | -€13,133 | -55.2% |
| Suppliers | 440/4 | €23,780 | €10,648 | -€13,133 | -55.2% |
| Advances received on contracts in progress | 46 | €8,978 | €903 | -€8,075 | -89.9% |
| Taxes, remuneration and social security | 45 | €35,682 | €7,610 | -€28,072 | -78.7% |
| Taxes | 450/3 | €30,824 | €7,610 | -€23,214 | -75.3% |
| Remuneration and social security | 454/9 | €4,859 | - | -€4,859 | |
| Other amounts payable | 47/48 | €43,525 | €37,953 | -€5,572 | -12.8% |
| Accrued charges and deferred income | 492/3 | €3,582 | €2,884 | -€698 | -19.5% |
| Non-recurring operating income | 76A | - | €1,500 | +€1,500 | |
| Remuneration, social security and pensions | 62 | €41,254 | €25,222 | -€16,032 | -38.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,802 | €11,752 | -€1,050 | -8.2% |
| Other operating charges | 640/8 | €1,455 | €1,497 | +€41 | +2.8% |
| Gross operating margin | 9900 | €68,736 | €62,084 | -€6,652 | -9.7% |
| Operating profit (loss) | 9901 | €13,225 | €23,613 | +€10,388 | +78.6% |
| Financial income | 75/76B | €402 | €722 | +€320 | +79.7% |
| Recurring financial income | 75 | €402 | €722 | +€320 | +79.7% |
| Financial charges | 65/66B | €9,252 | €7,794 | -€1,458 | -15.8% |
| Recurring financial charges | 65 | €9,252 | €7,794 | -€1,458 | -15.8% |
| Profit (loss) for the period before taxes | 9903 | €4,375 | €16,541 | +€12,167 | +278% |
| Income taxes | 67/77 | €211 | €4,363 | +€4,151 | +1,965% |
| Profit (loss) for the period | 9904 | €4,163 | €12,179 | +€8,015 | +193% |
| Profit (loss) for the period to be appropriated | 9905 | €4,163 | €12,179 | +€8,015 | +193% |
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 15 October 2026 via checked.be.