Baele D. & G.: 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.
Baele D. & G.
Largest movements
- Receivables within one year +€16,818
up €16,818 (+74.0%), from €22,726 to €39,544
of which Other amounts receivable: +€21,912
- Cash +€1,956
up €1,956 (+43.0%), from €4,543 to €6,499
- Tangible fixed assets -€1,542
down €1,542 (-6.5%), from €23,882 to €22,340
of which Other tangible fixed assets: -€2,559
- Reserves +€19,610
up €19,610 (+197%), from €9,943 to €29,553
of which Distributable reserves: +€20,806
- Debts after one year +€3,463
new in 2025: €3,463
- Trade debts -€3,272
down €3,272 (-89.8%), from €3,645 to €372
- Current portion of long-term debt -€2,065
down €2,065 (-38.3%), from €5,397 to €3,332
- Gross operating margin +€16,195
up €16,195 (+104%), from €15,621 to €31,816
- Taxes +€5,986
up €5,986 (+303%), from €1,973 to €7,959
- Other operating charges -€5,422
down €5,422 (-85.3%), from €6,358 to €936
- Financial charges +€1,496
up €1,496 (+349%), from €429 to €1,925
- Depreciation +€988
up €988 (+57.9%), from €1,706 to €2,693
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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €52,761 | €70,187 | +€17,426 | +33.0% |
| Fixed assets | 21/28 | €24,832 | €23,290 | -€1,542 | -6.2% |
| Tangible fixed assets | 22/27 | €23,882 | €22,340 | -€1,542 | -6.5% |
| Furniture and vehicles | 24 | - | €1,017 | +€1,017 | |
| Other tangible fixed assets | 26 | €23,882 | €21,323 | -€2,559 | -10.7% |
| Financial fixed assets | 28 | €950 | €950 | = | 0.0% |
| Current assets | 29/58 | €27,929 | €46,897 | +€18,967 | +67.9% |
| Stocks and contracts in progress | 3 | €500 | - | -€500 | |
| Stocks | 30/36 | €500 | - | -€500 | |
| Amounts receivable within one year | 40/41 | €22,726 | €39,544 | +€16,818 | +74.0% |
| Trade receivables | 40 | €9,547 | €4,453 | -€5,094 | -53.4% |
| Other amounts receivable | 41 | €13,179 | €35,091 | +€21,912 | +166% |
| Cash at bank and in hand | 54/58 | €4,543 | €6,499 | +€1,956 | +43.0% |
| Deferred charges and accrued income | 490/1 | €160 | €854 | +€694 | +433% |
| Total equity and liabilities | 10/49 | €52,761 | €70,187 | +€17,426 | +33.0% |
| Equity | 10/15 | €34,047 | €53,657 | +€19,610 | +57.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €9,943 | €29,553 | +€19,610 | +197% |
| Non-distributable reserves | 130/1 | €1,196 | - | -€1,196 | |
| Reserves not available under the articles | 1311 | €1,196 | - | -€1,196 | |
| Distributable reserves | 133 | €8,746 | €29,553 | +€20,806 | +238% |
| Profit (loss) carried forward | 14 | €5,504 | €5,504 | = | 0.0% |
| Amounts payable | 17/49 | €18,714 | €16,530 | -€2,185 | -11.7% |
| Amounts payable after more than one year | 17 | - | €3,463 | +€3,463 | |
| Financial debts | 170/4 | - | €3,463 | +€3,463 | |
| Amounts payable within one year | 42/48 | €18,714 | €13,067 | -€5,647 | -30.2% |
| Current portion of amounts payable after more than one year | 42 | €5,397 | €3,332 | -€2,065 | -38.3% |
| Trade debts | 44 | €3,645 | €372 | -€3,272 | -89.8% |
| Suppliers | 440/4 | €3,645 | €372 | -€3,272 | -89.8% |
| Taxes, remuneration and social security | 45 | €9,673 | €9,363 | -€310 | -3.2% |
| Taxes | 450/3 | €9,673 | €9,363 | -€310 | -3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,706 | €2,693 | +€988 | +57.9% |
| Other operating charges | 640/8 | €6,358 | €936 | -€5,422 | -85.3% |
| Gross operating margin | 9900 | €15,621 | €31,816 | +€16,195 | +104% |
| Operating profit (loss) | 9901 | €7,558 | €28,187 | +€20,629 | +273% |
| Financial income | 75/76B | €348 | €1,307 | +€959 | +275% |
| Recurring financial income | 75 | €348 | €1,307 | +€959 | +275% |
| Financial charges | 65/66B | €429 | €1,925 | +€1,496 | +349% |
| Recurring financial charges | 65 | €429 | €1,925 | +€1,496 | +349% |
| Profit (loss) for the period before taxes | 9903 | €7,477 | €27,569 | +€20,092 | +269% |
| Income taxes | 67/77 | €1,973 | €7,959 | +€5,986 | +303% |
| Profit (loss) for the period | 9904 | €5,504 | €19,610 | +€14,106 | +256% |
| Profit (loss) for the period to be appropriated | 9905 | €5,504 | €19,610 | +€14,106 | +256% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.