BAERT CLASSIC: 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 CLASSIC
Largest movements
- Tangible fixed assets -€14,080
down €14,080 (-45.1%), from €31,186 to €17,105
of which Furniture and vehicles: -€13,924
- Cash -€2,971
down €2,971 (-15.1%), from €19,667 to €16,696
mainly Net result for the year (-€17,743) and Tax, wage and social debts (-€263)
- Profit (loss) carried forward -€17,743
down €17,743 (-2484.5%), from -€714 to -€18,457
- Gross operating margin -€20,395
down €20,395, from €17,860 to -€2,535
- Depreciation +€1,095
up €1,095 (+8.2%), from €13,341 to €14,435
- Other operating charges -€991
down €991 (-60.3%), from €1,643 to €652
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 | €54,790 | €37,234 | -€17,555 | -32.0% |
| Formation expenses | 20 | €173 | €0 | -€173 | -100.0% |
| Fixed assets | 21/28 | €31,186 | €17,105 | -€14,080 | -45.1% |
| Tangible fixed assets | 22/27 | €31,186 | €17,105 | -€14,080 | -45.1% |
| Plant, machinery and equipment | 23 | €831 | €674 | -€157 | -18.8% |
| Furniture and vehicles | 24 | €30,355 | €16,431 | -€13,924 | -45.9% |
| Current assets | 29/58 | €23,431 | €20,129 | -€3,302 | -14.1% |
| Stocks and contracts in progress | 3 | €1,304 | €761 | -€542 | -41.6% |
| Stocks | 30/36 | €1,304 | €761 | -€542 | -41.6% |
| Amounts receivable within one year | 40/41 | €0 | €206 | +€206 | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | - | €206 | +€206 | |
| Cash at bank and in hand | 54/58 | €19,667 | €16,696 | -€2,971 | -15.1% |
| Deferred charges and accrued income | 490/1 | €2,460 | €2,466 | +€6 | +0.2% |
| Total equity and liabilities | 10/49 | €54,790 | €37,234 | -€17,555 | -32.0% |
| Equity | 10/15 | €19,286 | €1,543 | -€17,743 | -92.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€714 | -€18,457 | -€17,743 | -2484.5% |
| Amounts payable | 17/49 | €35,504 | €35,691 | +€187 | +0.5% |
| Amounts payable within one year | 42/48 | €35,504 | €35,691 | +€187 | +0.5% |
| Trade debts | 44 | €81 | €359 | +€278 | +341.1% |
| Suppliers | 440/4 | €81 | €359 | +€278 | +341.1% |
| Taxes, remuneration and social security | 45 | €263 | - | -€263 | |
| Taxes | 450/3 | €263 | - | -€263 | |
| Other amounts payable | 47/48 | €35,160 | €35,332 | +€172 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,341 | €14,435 | +€1,095 | +8.2% |
| Other operating charges | 640/8 | €1,643 | €652 | -€991 | -60.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €17,860 | -€2,535 | -€20,395 | |
| Operating profit (loss) | 9901 | €2,876 | -€17,623 | -€20,499 | |
| Financial income | 75/76B | €0 | €2 | +€1 | +7450.0% |
| Recurring financial income | 75 | €0 | €2 | +€1 | +7450.0% |
| Financial charges | 65/66B | €275 | €121 | -€154 | -56.1% |
| Recurring financial charges | 65 | €275 | €121 | -€154 | -56.1% |
| Profit (loss) for the period before taxes | 9903 | €2,601 | -€17,743 | -€20,343 | |
| Profit (loss) for the period | 9904 | €2,601 | -€17,743 | -€20,343 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,601 | -€17,743 | -€20,343 |
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 7 October 2026 via checked.be.