BAERT ENGINEERING AND MANAGEMENT: what changed
Two financial 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 ENGINEERING AND MANAGEMENT
Largest movements
- Cash +€118,597
up €118,597 (+67.6%), from €175,468 to €294,065
mainly Net result for the year (+€118,510) and Deferred charges and accrued income (+€82,039)
- Current investments +€91,106
up €91,106 (+83.1%), from €109,649 to €200,755
- Deferred charges and accrued income -€82,039
no longer reported in 2025 (was €82,039)
- Tangible fixed assets -€19,454
down €19,454 (-23.8%), from €81,832 to €62,378
of which Furniture and vehicles: -€18,264
- Reserves +€113,250
up €113,250 (+26.1%), from €433,257 to €546,507
- Debts after one year -€20,642
down €20,642 (-38.9%), from €53,125 to €32,483
- Tax, wage and social debts +€11,029
up €11,029 (+123%), from €8,954 to €19,982
- Gross operating margin +€52,499
up €52,499 (+59.6%), from €88,100 to €140,599
- Financial income -€41,853
down €41,853 (-50.0%), from €83,699 to €41,846
of which Financial income: -€49,159
- Taxes +€9,408
up €9,408 (+31.3%), from €30,037 to €39,445
- Depreciation +€6,669
up €6,669 (+52.2%), from €12,785 to €19,454
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.
Derived cash bridge
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 | €544,705 | €649,112 | +€104,407 | +19.2% |
| Fixed assets | 21/28 | €172,232 | €152,778 | -€19,454 | -11.3% |
| Tangible fixed assets | 22/27 | €81,832 | €62,378 | -€19,454 | -23.8% |
| Furniture and vehicles | 24 | €80,643 | €62,378 | -€18,264 | -22.6% |
| Other tangible fixed assets | 26 | €1,190 | - | -€1,190 | |
| Financial fixed assets | 28 | €90,400 | €90,400 | = | 0.0% |
| Current assets | 29/58 | €372,473 | €496,334 | +€123,861 | +33.3% |
| Amounts receivable within one year | 40/41 | €5,317 | €1,514 | -€3,803 | -71.5% |
| Trade receivables | 40 | - | €1,514 | +€1,514 | |
| Other amounts receivable | 41 | €5,317 | - | -€5,317 | |
| Current investments | 50/53 | €109,649 | €200,755 | +€91,106 | +83.1% |
| Cash at bank and in hand | 54/58 | €175,468 | €294,065 | +€118,597 | +67.6% |
| Deferred charges and accrued income | 490/1 | €82,039 | - | -€82,039 | |
| Total equity and liabilities | 10/49 | €544,705 | €649,112 | +€104,407 | +19.2% |
| Equity | 10/15 | €451,857 | €565,107 | +€113,250 | +25.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €433,257 | €546,507 | +€113,250 | +26.1% |
| Distributable reserves | 133 | €433,257 | €546,507 | +€113,250 | +26.1% |
| Amounts payable | 17/49 | €92,848 | €84,005 | -€8,843 | -9.5% |
| Amounts payable after more than one year | 17 | €53,125 | €32,483 | -€20,642 | -38.9% |
| Financial debts | 170/4 | €53,125 | €32,483 | -€20,642 | -38.9% |
| Amounts payable within one year | 42/48 | €37,854 | €51,062 | +€13,208 | +34.9% |
| Current portion of amounts payable after more than one year | 42 | €19,867 | €20,642 | +€775 | +3.9% |
| Trade debts | 44 | €4,954 | €2,324 | -€2,630 | -53.1% |
| Suppliers | 440/4 | €4,954 | €2,324 | -€2,630 | -53.1% |
| Taxes, remuneration and social security | 45 | €8,954 | €19,982 | +€11,029 | +123% |
| Taxes | 450/3 | €8,954 | €19,982 | +€11,029 | +123% |
| Other amounts payable | 47/48 | €4,079 | €8,114 | +€4,035 | +98.9% |
| Accrued charges and deferred income | 492/3 | €1,869 | €460 | -€1,409 | -75.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,785 | €19,454 | +€6,669 | +52.2% |
| Other operating charges | 640/8 | €2,723 | €2,083 | -€640 | -23.5% |
| Gross operating margin | 9900 | €88,100 | €140,599 | +€52,499 | +59.6% |
| Operating profit (loss) | 9901 | €72,592 | €119,062 | +€46,470 | +64.0% |
| Financial income | 75/76B | €83,699 | €41,846 | -€41,853 | -50.0% |
| Recurring financial income | 75 | €83,699 | €34,540 | -€49,159 | -58.7% |
| Non-recurring financial income | 76B | - | €7,306 | +€7,306 | |
| Financial charges | 65/66B | €3,519 | €2,953 | -€566 | -16.1% |
| Recurring financial charges | 65 | €3,519 | €2,953 | -€566 | -16.1% |
| Profit (loss) for the period before taxes | 9903 | €152,772 | €157,955 | +€5,183 | +3.4% |
| Income taxes | 67/77 | €30,037 | €39,445 | +€9,408 | +31.3% |
| Profit (loss) for the period | 9904 | €122,735 | €118,510 | -€4,225 | -3.4% |
| Profit (loss) for the period to be appropriated | 9905 | €122,735 | €118,510 | -€4,225 | -3.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.