BAELDE FRANKIE: 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 FRANKIE
Largest movements
- Cash +€372,651
up €372,651 (+173%), from €215,589 to €588,240
mainly Current investments (+€327,708) and Net result for the year (+€41,859)
- Current investments -€327,708
down €327,708 (-100%), from €327,708 to €0
- Reserves +€41,859
up €41,859 (+7.7%), from €546,493 to €588,351
- Gross operating margin +€20,099
up €20,099 (+49.3%), from €40,772 to €60,871
- Taxes +€4,914
up €4,914 (+32.4%), from €15,157 to €20,071
- Financial income -€3,243
down €3,243 (-31.2%), from €10,403 to €7,160
- Write-downs +€1,025
new in 2025: €1,025
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 | €570,468 | €614,962 | +€44,494 | +7.8% |
| Fixed assets | 21/28 | €10,904 | €9,028 | -€1,877 | -17.2% |
| Tangible fixed assets | 22/27 | €10,904 | €9,028 | -€1,877 | -17.2% |
| Land and buildings | 22 | €6,492 | €4,231 | -€2,261 | -34.8% |
| Plant, machinery and equipment | 23 | €943 | €703 | -€240 | -25.4% |
| Furniture and vehicles | 24 | - | €1,291 | +€1,291 | |
| Other tangible fixed assets | 26 | €3,469 | €2,802 | -€667 | -19.2% |
| Current assets | 29/58 | €559,564 | €605,934 | +€46,370 | +8.3% |
| Stocks and contracts in progress | 3 | €1,670 | €993 | -€677 | -40.5% |
| Stocks | 30/36 | €1,670 | €993 | -€677 | -40.5% |
| Amounts receivable within one year | 40/41 | €11,196 | €16,360 | +€5,164 | +46.1% |
| Trade receivables | 40 | €10,160 | €16,020 | +€5,860 | +57.7% |
| Other amounts receivable | 41 | €1,036 | €340 | -€696 | -67.2% |
| Current investments | 50/53 | €327,708 | €0 | -€327,708 | -100% |
| Cash at bank and in hand | 54/58 | €215,589 | €588,240 | +€372,651 | +173% |
| Deferred charges and accrued income | 490/1 | €3,400 | €341 | -€3,060 | -90.0% |
| Total equity and liabilities | 10/49 | €570,468 | €614,962 | +€44,494 | +7.8% |
| Equity | 10/15 | €566,493 | €608,351 | +€41,859 | +7.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €546,493 | €588,351 | +€41,859 | +7.7% |
| Distributable reserves | 133 | €546,493 | €588,351 | +€41,859 | +7.7% |
| Amounts payable | 17/49 | €3,975 | €6,611 | +€2,635 | +66.3% |
| Amounts payable within one year | 42/48 | €3,054 | €6,611 | +€3,557 | +116% |
| Trade debts | 44 | €204 | €511 | +€307 | +151% |
| Suppliers | 440/4 | €204 | €511 | +€307 | +151% |
| Taxes, remuneration and social security | 45 | €2,037 | €5,613 | +€3,576 | +176% |
| Taxes | 450/3 | €2,037 | €5,613 | +€3,576 | +176% |
| Other amounts payable | 47/48 | €813 | €486 | -€327 | -40.2% |
| Accrued charges and deferred income | 492/3 | €921 | €0 | -€921 | -100% |
| Non-recurring operating income | 76A | - | €500 | +€500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,168 | €3,471 | +€304 | +9.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,025 | +€1,025 | |
| Other operating charges | 640/8 | €1,533 | €1,482 | -€50 | -3.3% |
| Gross operating margin | 9900 | €40,772 | €60,871 | +€20,099 | +49.3% |
| Operating profit (loss) | 9901 | €36,072 | €54,892 | +€18,820 | +52.2% |
| Financial income | 75/76B | €10,403 | €7,160 | -€3,243 | -31.2% |
| Recurring financial income | 75 | €10,403 | €7,160 | -€3,243 | -31.2% |
| Financial charges | 65/66B | €131 | €122 | -€8 | -6.4% |
| Recurring financial charges | 65 | €131 | €122 | -€8 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | €46,344 | €61,929 | +€15,586 | +33.6% |
| Income taxes | 67/77 | €15,157 | €20,071 | +€4,914 | +32.4% |
| Profit (loss) for the period | 9904 | €31,187 | €41,859 | +€10,672 | +34.2% |
| Profit (loss) for the period to be appropriated | 9905 | €31,187 | €41,859 | +€10,672 | +34.2% |
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 24 October 2026 via checked.be.