BAERT: 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
BAERT
NACE 46.492, Wholesale trade
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€1.2m
2023 · €978,822+€219,685
Equity
€3.8m
2023 · €4.6m-€801,493
Cash
€1.8m
2023 · €1.7m+€141,462
Balance sheet total
€9.8m
2023 · €8.5m+€1.3m
Largest movements
Assets
- Receivables within one year +€1.2m
up €1.2m (+39.3%), from €3.0m to €4.2m
of which Trade receivables: +€734,980
- Current investments -€700,000
no longer reported in 2024 (was €700,000)
- Intangible fixed assets +€465,544
up €465,544 (+2392.9%), from €19,455 to €484,999
- Cash +€141,462
up €141,462 (+8.3%), from €1.7m to €1.8m
mainly Other debts (+€2.0m) and Net result for the year (+€1.2m)
- Stocks and contracts +€137,123
up €137,123 (+5.9%), from €2.3m to €2.5m
Equity and liabilities
- Other debts +€2.0m
new in 2024: €2.0m
- Profit (loss) carried forward -€801,493
down €801,493 (-23.8%), from €3.4m to €2.6m
- Debts after one year -€280,109
down €280,109 (-15.4%), from €1.8m to €1.5m
- Trade debts +€200,660
up €200,660 (+25.8%), from €776,605 to €977,265
- Current portion of long-term debt +€186,241
up €186,241 (+34.8%), from €534,992 to €721,233
Income statement
- Turnover +€2.3m
up €2.3m (+17.9%), from €13.1m to €15.4m
- Goods and materials +€1.6m
up €1.6m (+21.7%), from €7.4m to €9.0m
of which Purchases: +€1.4m
- Services and other goods +€285,075
up €285,075 (+13.2%), from €2.2m to €2.4m
- Staff costs +€270,005
up €270,005 (+15.8%), from €1.7m to €2.0m
From the 2023 result to the 2024 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 2023
€978,822
Turnover
+€2.3m
Other operating income
-€43,452
Goods and materials
-€1.6m
Services and other goods
-€285,075
Staff costs
-€270,005
Depreciation
+€51,218
Write-downs
+€53,905
Other operating charges
+€14,150
Other operating items
+€42,145
Financial income
+€8,102
Financial charges
-€3,750
Taxes
-€73,234
Result 2024
€1.2m
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€2.4m
Investment
-€143,036
Financing
-€2.1m
Cash 2023
€1.7m
From operations (derived)
+€2.4m
Net result for the year
+€1.2m
Depreciation
+€254,938
Stocks and contracts
-€137,123
Receivables within one year
-€1.2m
Deferred charges and accrued income
+€5,140
Trade debts
+€200,660
Tax, wage and social debts
+€132,393
Other debts
+€2.0m
Accrued charges and deferred income
-€44,719
Investment (derived)
-€143,036
Investment in fixed assets (net)
-€843,036
Current investments
+€700,000
Financing
-€2.1m
Debts after one year
-€280,109
Current portion of long-term debt
+€186,241
Short-term financial debts
-€47,996
Contributions, distributions and other
-€2.0m
Cash 2024
€1.8m
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,491,418 | €9,836,397 | +€1.3m | +15.8% |
| Fixed assets | 21/28 | €603,379 | €1,191,476 | +€588,097 | +97.5% |
| Intangible fixed assets | 21 | €19,455 | €484,999 | +€465,544 | +2392.9% |
| Tangible fixed assets | 22/27 | €583,264 | €706,477 | +€123,213 | +21.1% |
| Plant, machinery and equipment | 23 | €107,900 | €107,753 | -€148 | -0.1% |
| Furniture and vehicles | 24 | €141,535 | €304,216 | +€162,681 | +114.9% |
| Other tangible fixed assets | 26 | €333,829 | €294,508 | -€39,321 | -11.8% |
| Financial fixed assets | 28 | €659 | - | -€659 | |
| Other financial fixed assets | 284/8 | €659 | - | -€659 | |
| Amounts receivable and cash guarantees | 285/8 | €659 | - | -€659 | |
| Current assets | 29/58 | €7,888,039 | €8,644,920 | +€756,881 | +9.6% |
| Stocks and contracts in progress | 3 | €2,316,368 | €2,453,492 | +€137,123 | +5.9% |
| Stocks | 30/36 | €2,316,368 | €2,453,492 | +€137,123 | +5.9% |
| Goods purchased for resale | 34 | €2,316,368 | €2,453,492 | +€137,123 | +5.9% |
| Amounts receivable within one year | 40/41 | €3,011,248 | €4,194,684 | +€1.2m | +39.3% |
| Trade receivables | 40 | €1,148,578 | €1,883,557 | +€734,980 | +64.0% |
| Other amounts receivable | 41 | €1,862,671 | €2,311,127 | +€448,456 | +24.1% |
| Current investments | 50/53 | €700,000 | - | -€700,000 | |
| Other investments | 51/53 | €700,000 | - | -€700,000 | |
| Cash at bank and in hand | 54/58 | €1,697,088 | €1,838,550 | +€141,462 | +8.3% |
| Deferred charges and accrued income | 490/1 | €163,335 | €158,195 | -€5,140 | -3.1% |
| Total equity and liabilities | 10/49 | €8,491,418 | €9,836,397 | +€1.3m | +15.8% |
| Equity | 10/15 | €4,585,439 | €3,783,946 | -€801,493 | -17.5% |
| Contributions | 10/11 | €100,262 | €100,262 | = | 0.0% |
| Capital | 10 | €100,262 | €100,262 | = | 0.0% |
| Issued capital | 100 | €100,262 | €100,262 | = | 0.0% |
| Reserves | 13 | €1,112,137 | €1,112,137 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,026 | €10,026 | = | 0.0% |
| Legal reserve | 130 | €10,026 | €10,026 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,042 | €3,042 | = | 0.0% |
| Distributable reserves | 133 | €1,099,068 | €1,099,068 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,373,040 | €2,571,547 | -€801,493 | -23.8% |
| Amounts payable | 17/49 | €3,905,979 | €6,052,450 | +€2.1m | +55.0% |
| Amounts payable after more than one year | 17 | €1,815,551 | €1,535,442 | -€280,109 | -15.4% |
| Financial debts | 170/4 | €1,815,551 | €1,535,442 | -€280,109 | -15.4% |
| Credit institutions | 173 | €1,815,551 | €1,535,442 | -€280,109 | -15.4% |
| Amounts payable within one year | 42/48 | €1,956,969 | €4,428,269 | +€2.5m | +126.3% |
| Current portion of amounts payable after more than one year | 42 | €534,992 | €721,233 | +€186,241 | +34.8% |
| Financial debts | 43 | €155,998 | €108,003 | -€47,996 | -30.8% |
| Credit institutions | 430/8 | €155,998 | €108,003 | -€47,996 | -30.8% |
| Trade debts | 44 | €776,605 | €977,265 | +€200,660 | +25.8% |
| Suppliers | 440/4 | €776,605 | €977,265 | +€200,660 | +25.8% |
| Taxes, remuneration and social security | 45 | €489,374 | €621,767 | +€132,393 | +27.1% |
| Taxes | 450/3 | €288,708 | €420,840 | +€132,132 | +45.8% |
| Remuneration and social security | 454/9 | €200,667 | €200,927 | +€261 | +0.1% |
| Other amounts payable | 47/48 | - | €2,000,000 | +€2.0m | |
| Accrued charges and deferred income | 492/3 | €133,459 | €88,740 | -€44,719 | -33.5% |
| Operating income | 70/76A | €13,144,271 | €15,432,551 | +€2.3m | +17.4% |
| Turnover | 70 | €13,060,403 | €15,398,060 | +€2.3m | +17.9% |
| Other operating income | 74 | €77,943 | €34,491 | -€43,452 | -55.7% |
| Non-recurring operating income | 76A | €5,925 | - | -€5,925 | |
| Operating charges | 60/66A | €11,718,994 | €13,718,707 | +€2.0m | +17.1% |
| Goods for resale, raw materials and consumables | 60 | €7,428,575 | €9,040,551 | +€1.6m | +21.7% |
| Purchases | 600/8 | €7,778,170 | €9,177,674 | +€1.4m | +18.0% |
| Change in stocks: decrease (increase) | 609 | -€349,595 | -€137,123 | +€212,471 | +60.8% |
| Services and other goods | 61 | €2,153,815 | €2,438,889 | +€285,075 | +13.2% |
| Remuneration, social security and pensions | 62 | €1,705,099 | €1,975,104 | +€270,005 | +15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €306,156 | €254,938 | -€51,218 | -16.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €53,905 | - | -€53,905 | |
| Other operating charges | 640/8 | €23,374 | €9,224 | -€14,150 | -60.5% |
| Non-recurring operating charges | 66A | €48,070 | - | -€48,070 | |
| Operating profit (loss) | 9901 | €1,425,277 | €1,713,844 | +€288,567 | +20.2% |
| Financial income | 75/76B | €3,133 | €11,235 | +€8,102 | +258.6% |
| Recurring financial income | 75 | €3,133 | €11,235 | +€8,102 | +258.6% |
| Income from current assets | 751 | - | €8,031 | +€8,031 | |
| Other financial income | 752/9 | €3,133 | €3,204 | +€71 | +2.3% |
| Financial charges | 65/66B | €94,547 | €98,296 | +€3,750 | +4.0% |
| Recurring financial charges | 65 | €94,547 | €98,296 | +€3,750 | +4.0% |
| Debt charges | 650 | €73,493 | €80,002 | +€6,509 | +8.9% |
| Other financial charges | 652/9 | €21,053 | €18,294 | -€2,759 | -13.1% |
| Profit (loss) for the period before taxes | 9903 | €1,333,863 | €1,626,782 | +€292,919 | +22.0% |
| Income taxes | 67/77 | €355,041 | €428,275 | +€73,234 | +20.6% |
| Taxes | 670/3 | €355,041 | €430,299 | +€75,258 | +21.2% |
| Tax adjustments and reversals of tax provisions | 77 | - | €2,024 | +€2,024 | |
| Profit (loss) for the period | 9904 | €978,822 | €1,198,507 | +€219,685 | +22.4% |
| Profit (loss) for the period to be appropriated | 9905 | €978,822 | €1,198,507 | +€219,685 | +22.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.