Baelde Thomas: 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 Thomas
Largest movements
- Stocks and contracts +€10,000
new in 2026: €10,000
- Tangible fixed assets +€5,339
new in 2026: €5,339
- Receivables within one year +€2,810
up €2,810 (+66.1%), from €4,254 to €7,065
of which Trade receivables: +€1,602
- Deferred charges and accrued income +€383
new in 2026: €383
- Reserves +€9,912
up €9,912 (+259.8%), from €3,815 to €13,727
- Other debts +€9,407
up €9,407 (+119.8%), from €7,852 to €17,259
- Trade debts -€902
down €902 (-51.7%), from €1,744 to €842
- Gross operating margin +€8,576
up €8,576 (+146.4%), from €5,860 to €14,435
- Taxes +€1,536
up €1,536 (+132.2%), from €1,162 to €2,698
- Depreciation +€991
new in 2026: €991
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,461 | €34,877 | +€18,415 | +111.9% |
| Fixed assets | 21/28 | - | €5,339 | +€5,339 | |
| Tangible fixed assets | 22/27 | - | €5,339 | +€5,339 | |
| Other tangible fixed assets | 26 | - | €5,339 | +€5,339 | |
| Current assets | 29/58 | €16,461 | €29,537 | +€13,076 | +79.4% |
| Stocks and contracts in progress | 3 | - | €10,000 | +€10,000 | |
| Stocks | 30/36 | - | €10,000 | +€10,000 | |
| Amounts receivable within one year | 40/41 | €4,254 | €7,065 | +€2,810 | +66.1% |
| Trade receivables | 40 | €4,254 | €5,857 | +€1,602 | +37.7% |
| Other amounts receivable | 41 | - | €1,208 | +€1,208 | |
| Cash at bank and in hand | 54/58 | €12,207 | €12,089 | -€118 | -1.0% |
| Deferred charges and accrued income | 490/1 | - | €383 | +€383 | |
| Total equity and liabilities | 10/49 | €16,461 | €34,877 | +€18,415 | +111.9% |
| Equity | 10/15 | €3,915 | €13,827 | +€9,912 | +253.2% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €3,815 | €13,727 | +€9,912 | +259.8% |
| Distributable reserves | 133 | €3,815 | €13,727 | +€9,912 | +259.8% |
| Amounts payable | 17/49 | €12,547 | €21,050 | +€8,503 | +67.8% |
| Amounts payable within one year | 42/48 | €12,547 | €21,050 | +€8,503 | +67.8% |
| Trade debts | 44 | €1,744 | €842 | -€902 | -51.7% |
| Suppliers | 440/4 | €1,744 | €842 | -€902 | -51.7% |
| Taxes, remuneration and social security | 45 | €2,951 | €2,948 | -€3 | -0.1% |
| Taxes | 450/3 | €2,951 | €2,948 | -€3 | -0.1% |
| Other amounts payable | 47/48 | €7,852 | €17,259 | +€9,407 | +119.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €991 | +€991 | |
| Other operating charges | 640/8 | €50 | - | -€50 | |
| Gross operating margin | 9900 | €5,860 | €14,435 | +€8,576 | +146.4% |
| Operating profit (loss) | 9901 | €5,810 | €13,445 | +€7,635 | +131.4% |
| Financial charges | 65/66B | - | €1 | +€1 | |
| Recurring financial charges | 65 | - | €1 | +€1 | |
| Profit (loss) for the period before taxes | 9903 | €5,810 | €13,444 | +€7,634 | +131.4% |
| Income taxes | 67/77 | €1,162 | €2,698 | +€1,536 | +132.2% |
| Profit (loss) for the period | 9904 | €4,648 | €10,745 | +€6,098 | +131.2% |
| Profit (loss) for the period to be appropriated | 9905 | €4,648 | €10,745 | +€6,098 | +131.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.