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.
BAERT
Largest movements
- Receivables within one year +€3,128
up €3,128 (+78.6%), from €3,981 to €7,109
of which Trade receivables: +€2,141
- Cash -€668
down €668 (-88.5%), from €754 to €87
mainly Net result for the year (-€13,965) and Receivables within one year (-€3,128)
- Profit (loss) carried forward -€13,965
down €13,965 (-27.1%), from -€51,441 to -€65,406
- Other debts +€11,011
up €11,011 (+15.6%), from €70,683 to €81,695
- Trade debts +€5,569
up €5,569 (+1661.1%), from €335 to €5,904
- Gross operating margin -€2,733
down €2,733 (-26.3%), from -€10,394 to -€13,127
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €40,647 | €43,262 | +€2,615 | +6.4% |
| Fixed assets | 21/28 | €413 | €283 | -€130 | -31.5% |
| Tangible fixed assets | 22/27 | €203 | €72 | -€130 | -64.3% |
| Furniture and vehicles | 24 | €203 | €72 | -€130 | -64.3% |
| Financial fixed assets | 28 | €211 | €211 | = | 0.0% |
| Current assets | 29/58 | €40,234 | €42,979 | +€2,745 | +6.8% |
| Stocks and contracts in progress | 3 | €33,527 | €33,844 | +€317 | +0.9% |
| Stocks | 30/36 | €33,527 | €33,844 | +€317 | +0.9% |
| Amounts receivable within one year | 40/41 | €3,981 | €7,109 | +€3,128 | +78.6% |
| Trade receivables | 40 | €3,722 | €5,864 | +€2,141 | +57.5% |
| Other amounts receivable | 41 | €259 | €1,246 | +€987 | +381.1% |
| Cash at bank and in hand | 54/58 | €754 | €87 | -€668 | -88.5% |
| Deferred charges and accrued income | 490/1 | €1,971 | €1,939 | -€32 | -1.6% |
| Total equity and liabilities | 10/49 | €40,647 | €43,262 | +€2,615 | +6.4% |
| Equity | 10/15 | -€30,659 | -€44,624 | -€13,965 | -45.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €2,190 | €2,190 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €331 | €331 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€51,441 | -€65,406 | -€13,965 | -27.1% |
| Amounts payable | 17/49 | €71,306 | €87,887 | +€16,580 | +23.3% |
| Amounts payable within one year | 42/48 | €71,306 | €87,887 | +€16,580 | +23.3% |
| Trade debts | 44 | €335 | €5,904 | +€5,569 | +1661.1% |
| Suppliers | 440/4 | €335 | €5,904 | +€5,569 | +1661.1% |
| Taxes, remuneration and social security | 45 | €288 | €288 | = | 0.0% |
| Taxes | 450/3 | €288 | €288 | = | 0.0% |
| Other amounts payable | 47/48 | €70,683 | €81,695 | +€11,011 | +15.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €130 | €130 | = | 0.0% |
| Other operating charges | 640/8 | €597 | €577 | -€20 | -3.3% |
| Gross operating margin | 9900 | -€10,394 | -€13,127 | -€2,733 | -26.3% |
| Operating profit (loss) | 9901 | -€11,121 | -€13,834 | -€2,713 | -24.4% |
| Financial income | 75/76B | €41 | €19 | -€22 | -52.7% |
| Recurring financial income | 75 | €41 | €19 | -€22 | -52.7% |
| Financial charges | 65/66B | €131 | €151 | +€20 | +14.9% |
| Recurring financial charges | 65 | €131 | €151 | +€20 | +14.9% |
| Profit (loss) for the period before taxes | 9903 | -€11,211 | -€13,965 | -€2,754 | -24.6% |
| Profit (loss) for the period | 9904 | -€11,211 | -€13,965 | -€2,754 | -24.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,211 | -€13,965 | -€2,754 | -24.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.