Baert Eddy: 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 Eddy
Largest movements
- Receivables within one year +€59,522
up €59,522 (+155.1%), from €38,367 to €97,888
- Cash +€17,240
up €17,240 (+12.7%), from €135,264 to €152,505
mainly Net result for the year (+€91,936) and Depreciation (+€19,980)
- Reserves +€91,936
up €91,936 (+16.1%), from €570,732 to €662,667
of which Distributable reserves: +€91,936
- Other debts -€19,715
down €19,715 (-100.0%), from €19,715 to €0
- Gross operating margin -€7,307
down €7,307 (-4.3%), from €168,274 to €160,967
- Depreciation -€4,924
down €4,924 (-19.8%), from €24,904 to €19,980
- Taxes -€2,636
down €2,636 (-6.5%), from €40,470 to €37,834
- Financial income +€2,542
up €2,542 (+24.1%), from €10,554 to €13,096
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.
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.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €665,596 | €738,358 | +€72,761 | +10.9% |
| Fixed assets | 21/28 | €64,608 | €65,242 | +€634 | +1.0% |
| Tangible fixed assets | 22/27 | €64,608 | €65,242 | +€634 | +1.0% |
| Land and buildings | 22 | €55,194 | €58,441 | +€3,246 | +5.9% |
| Plant, machinery and equipment | 23 | €5,740 | €4,880 | -€859 | -15.0% |
| Furniture and vehicles | 24 | €3,674 | €1,921 | -€1,753 | -47.7% |
| Current assets | 29/58 | €600,988 | €673,115 | +€72,127 | +12.0% |
| Amounts receivable after more than one year | 29 | €369,927 | €369,927 | = | 0.0% |
| Other amounts receivable | 291 | €369,927 | €369,927 | = | 0.0% |
| Stocks and contracts in progress | 3 | €7,776 | €7,776 | = | 0.0% |
| Stocks | 30/36 | €7,776 | €7,776 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €38,367 | €97,888 | +€59,522 | +155.1% |
| Other amounts receivable | 41 | €38,367 | €97,888 | +€59,522 | +155.1% |
| Current investments | 50/53 | €30,450 | €30,450 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €135,264 | €152,505 | +€17,240 | +12.7% |
| Deferred charges and accrued income | 490/1 | €19,205 | €14,570 | -€4,635 | -24.1% |
| Total equity and liabilities | 10/49 | €665,596 | €738,358 | +€72,761 | +10.9% |
| Equity | 10/15 | €602,714 | €694,650 | +€91,936 | +15.3% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €570,732 | €662,667 | +€91,936 | +16.1% |
| Non-distributable reserves | 130/1 | €620 | €620 | = | 0.0% |
| Reserves not available under the articles | 1311 | €620 | €620 | = | 0.0% |
| Tax-exempt reserves | 132 | €45,098 | €45,098 | = | 0.0% |
| Distributable reserves | 133 | €525,014 | €616,949 | +€91,936 | +17.5% |
| Profit (loss) carried forward | 14 | €25,785 | €25,785 | = | 0.0% |
| Provisions and deferred taxes | 16 | €20,000 | €20,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €20,000 | €20,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €20,000 | €20,000 | = | 0.0% |
| Amounts payable | 17/49 | €42,882 | €23,708 | -€19,174 | -44.7% |
| Amounts payable within one year | 42/48 | €42,882 | €23,708 | -€19,174 | -44.7% |
| Trade debts | 44 | €4,299 | €4,411 | +€111 | +2.6% |
| Suppliers | 440/4 | €4,299 | €4,411 | +€111 | +2.6% |
| Taxes, remuneration and social security | 45 | €18,868 | €19,297 | +€429 | +2.3% |
| Taxes | 450/3 | €18,868 | €18,260 | -€608 | -3.2% |
| Remuneration and social security | 454/9 | €0 | €1,037 | +€1,037 | |
| Other amounts payable | 47/48 | €19,715 | €0 | -€19,715 | -100.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €16,561 | €17,923 | +€1,362 | +8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,904 | €19,980 | -€4,924 | -19.8% |
| Other operating charges | 640/8 | €5,691 | €5,897 | +€206 | +3.6% |
| Gross operating margin | 9900 | €168,274 | €160,967 | -€7,307 | -4.3% |
| Operating profit (loss) | 9901 | €121,118 | €117,167 | -€3,951 | -3.3% |
| Financial income | 75/76B | €10,554 | €13,096 | +€2,542 | +24.1% |
| Recurring financial income | 75 | €10,554 | €13,096 | +€2,542 | +24.1% |
| Financial charges | 65/66B | €535 | €493 | -€42 | -7.8% |
| Recurring financial charges | 65 | €535 | €493 | -€42 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | €131,137 | €129,770 | -€1,367 | -1.0% |
| Income taxes | 67/77 | €40,470 | €37,834 | -€2,636 | -6.5% |
| Profit (loss) for the period | 9904 | €90,667 | €91,936 | +€1,269 | +1.4% |
| Profit (loss) for the period to be appropriated | 9905 | €90,667 | €91,936 | +€1,269 | +1.4% |
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 30 September 2026 via checked.be.