BAELEMANS: 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.
What changed
BAELEMANS
NACE 56.112, Limited-service restaurants, excluding mobile food services
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€37,736
2024 · €77,112-€39,376
Equity
€216,745
2024 · €179,009+€37,736
Cash
€38,491
2024 · €32,363+€6,128
Balance sheet total
€1.5m
2024 · €1.3m+€198,986
Largest movements
Assets
- Tangible fixed assets +€189,390
up €189,390 (+15.6%), from €1.2m to €1.4m
of which Land and buildings: +€203,686
Equity and liabilities
- Debts after one year +€130,573
up €130,573 (+14.5%), from €899,650 to €1.0m
- Reserves +€37,736
up €37,736 (+23.5%), from €160,409 to €198,145
Income statement
- Depreciation +€42,376
up €42,376 (+84.4%), from €50,185 to €92,561
- Financial charges -€8,686
down €8,686 (-19.1%), from €45,426 to €36,740
- Taxes -€6,662
down €6,662 (-28.3%), from €23,560 to €16,898
- Other operating charges +€5,140
up €5,140 (+103.2%), from €4,983 to €10,123
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.
Result 2024
€77,112
Gross operating margin
-€633
Staff costs
+€300
Depreciation
-€42,376
Other operating charges
-€5,140
Other operating items
-€6,600
Financial income
-€274
Financial charges
+€8,686
Taxes
+€6,662
Result 2025
€37,736
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.
From operations
+€148,811
Investment
-€281,951
Financing
+€139,267
Cash 2024
€32,363
From operations (derived)
+€148,811
Net result for the year
+€37,736
Depreciation
+€92,561
Stocks and contracts
-€1,749
Receivables within one year
-€2,520
Deferred charges and accrued income
+€801
Trade debts
+€8,834
Tax, wage and social debts
+€8,091
Other debts
-€5,513
Accrued charges and deferred income
+€10,570
Investment (derived)
-€281,951
Investment in fixed assets (net)
-€281,951
Financing
+€139,267
Debts after one year
+€130,573
Current portion of long-term debt
+€8,695
Cash 2025
€38,491
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,255,797 | €1,454,783 | +€198,986 | +15.8% |
| Fixed assets | 21/28 | €1,215,445 | €1,404,835 | +€189,390 | +15.6% |
| Tangible fixed assets | 22/27 | €1,215,445 | €1,404,835 | +€189,390 | +15.6% |
| Land and buildings | 22 | €1,141,429 | €1,345,115 | +€203,686 | +17.8% |
| Plant, machinery and equipment | 23 | €28,436 | €24,482 | -€3,954 | -13.9% |
| Furniture and vehicles | 24 | €45,580 | €35,237 | -€10,342 | -22.7% |
| Current assets | 29/58 | €40,352 | €49,948 | +€9,596 | +23.8% |
| Stocks and contracts in progress | 3 | €4,989 | €6,739 | +€1,749 | +35.1% |
| Stocks | 30/36 | €4,989 | €6,739 | +€1,749 | +35.1% |
| Amounts receivable within one year | 40/41 | €1,457 | €3,976 | +€2,520 | +172.9% |
| Trade receivables | 40 | €1,118 | €0 | -€1,118 | -100.0% |
| Other amounts receivable | 41 | €339 | €3,976 | +€3,638 | +1074.3% |
| Cash at bank and in hand | 54/58 | €32,363 | €38,491 | +€6,128 | +18.9% |
| Deferred charges and accrued income | 490/1 | €1,543 | €742 | -€801 | -51.9% |
| Total equity and liabilities | 10/49 | €1,255,797 | €1,454,783 | +€198,986 | +15.8% |
| Equity | 10/15 | €179,009 | €216,745 | +€37,736 | +21.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €160,409 | €198,145 | +€37,736 | +23.5% |
| Distributable reserves | 133 | €160,409 | €198,145 | +€37,736 | +23.5% |
| Amounts payable | 17/49 | €1,076,788 | €1,238,038 | +€161,250 | +15.0% |
| Amounts payable after more than one year | 17 | €899,650 | €1,030,223 | +€130,573 | +14.5% |
| Financial debts | 170/4 | €899,650 | €1,030,223 | +€130,573 | +14.5% |
| Amounts payable within one year | 42/48 | €169,504 | €189,611 | +€20,107 | +11.9% |
| Current portion of amounts payable after more than one year | 42 | €81,554 | €90,249 | +€8,695 | +10.7% |
| Trade debts | 44 | €8,909 | €17,744 | +€8,834 | +99.2% |
| Suppliers | 440/4 | €8,909 | €17,744 | +€8,834 | +99.2% |
| Taxes, remuneration and social security | 45 | €14,468 | €22,559 | +€8,091 | +55.9% |
| Taxes | 450/3 | €14,468 | €22,559 | +€8,091 | +55.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €64,573 | €59,060 | -€5,513 | -8.5% |
| Accrued charges and deferred income | 492/3 | €7,634 | €18,204 | +€10,570 | +138.5% |
| Non-recurring operating income | 76A | €5,537 | €0 | -€5,537 | -100.0% |
| Remuneration, social security and pensions | 62 | €300 | €0 | -€300 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,185 | €92,561 | +€42,376 | +84.4% |
| Other operating charges | 640/8 | €4,983 | €10,123 | +€5,140 | +103.2% |
| Non-recurring operating charges | 66A | €0 | €6,600 | +€6,600 | |
| Gross operating margin | 9900 | €201,201 | €200,568 | -€633 | -0.3% |
| Operating profit (loss) | 9901 | €145,734 | €91,284 | -€54,449 | -37.4% |
| Financial income | 75/76B | €364 | €90 | -€274 | -75.3% |
| Recurring financial income | 75 | €364 | €90 | -€274 | -75.3% |
| Financial charges | 65/66B | €45,426 | €36,740 | -€8,686 | -19.1% |
| Recurring financial charges | 65 | €45,426 | €36,740 | -€8,686 | -19.1% |
| Profit (loss) for the period before taxes | 9903 | €100,671 | €54,634 | -€46,037 | -45.7% |
| Income taxes | 67/77 | €23,560 | €16,898 | -€6,662 | -28.3% |
| Profit (loss) for the period | 9904 | €77,112 | €37,736 | -€39,376 | -51.1% |
| Profit (loss) for the period to be appropriated | 9905 | €77,112 | €37,736 | -€39,376 | -51.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.