BAERT EVENTS: 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 EVENTS
Largest movements
- Cash +€28,767
up €28,767 (+71.6%), from €40,161 to €68,928
mainly Tax, wage and social debts (+€21,829) and Net result for the year (+€18,884)
- Receivables within one year +€12,216
up €12,216 (+38.8%), from €31,478 to €43,694
of which Other amounts receivable: +€11,262
- Tangible fixed assets -€7,786
down €7,786 (-28.2%), from €27,632 to €19,847
of which Furniture and vehicles: -€6,101
- Tax, wage and social debts +€21,829
up €21,829 (+71.3%), from €30,625 to €52,454
of which Taxes: +€17,520
- Profit (loss) carried forward +€18,884
up €18,884 (+259%), from €7,289 to €26,173
- Other debts -€15,215
no longer reported in 2025 (was €15,215)
- Trade debts +€6,089
up €6,089 (+8.5%), from €71,880 to €77,968
- Staff costs -€59,426
down €59,426 (-58.9%), from €100,811 to €41,385
- Gross operating margin -€48,486
down €48,486 (-35.5%), from €136,571 to €88,085
- Taxes +€4,683
up €4,683 (+75.0%), from €6,246 to €10,929
- Financial income +€2,467
new in 2025: €2,467
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 | €130,009 | €161,596 | +€31,586 | +24.3% |
| Fixed assets | 21/28 | €37,317 | €28,482 | -€8,836 | -23.7% |
| Intangible fixed assets | 21 | €9,685 | €8,435 | -€1,250 | -12.9% |
| Tangible fixed assets | 22/27 | €27,632 | €19,847 | -€7,786 | -28.2% |
| Plant, machinery and equipment | 23 | €5,253 | €3,568 | -€1,685 | -32.1% |
| Furniture and vehicles | 24 | €22,379 | €16,279 | -€6,101 | -27.3% |
| Financial fixed assets | 28 | - | €200 | +€200 | |
| Current assets | 29/58 | €92,692 | €133,114 | +€40,422 | +43.6% |
| Stocks and contracts in progress | 3 | €19,647 | €20,492 | +€845 | +4.3% |
| Stocks | 30/36 | €19,647 | €20,492 | +€845 | +4.3% |
| Amounts receivable within one year | 40/41 | €31,478 | €43,694 | +€12,216 | +38.8% |
| Trade receivables | 40 | €31,478 | €32,433 | +€954 | +3.0% |
| Other amounts receivable | 41 | - | €11,262 | +€11,262 | |
| Cash at bank and in hand | 54/58 | €40,161 | €68,928 | +€28,767 | +71.6% |
| Deferred charges and accrued income | 490/1 | €1,406 | - | -€1,406 | |
| Total equity and liabilities | 10/49 | €130,009 | €161,596 | +€31,586 | +24.3% |
| Equity | 10/15 | €12,289 | €31,173 | +€18,884 | +154% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,289 | €26,173 | +€18,884 | +259% |
| Amounts payable | 17/49 | €117,720 | €130,422 | +€12,702 | +10.8% |
| Amounts payable within one year | 42/48 | €117,720 | €130,422 | +€12,702 | +10.8% |
| Trade debts | 44 | €71,880 | €77,968 | +€6,089 | +8.5% |
| Suppliers | 440/4 | €71,880 | €77,968 | +€6,089 | +8.5% |
| Taxes, remuneration and social security | 45 | €30,625 | €52,454 | +€21,829 | +71.3% |
| Taxes | 450/3 | €30,625 | €48,145 | +€17,520 | +57.2% |
| Remuneration and social security | 454/9 | - | €4,309 | +€4,309 | |
| Other amounts payable | 47/48 | €15,215 | - | -€15,215 | |
| Remuneration, social security and pensions | 62 | €100,811 | €41,385 | -€59,426 | -58.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,007 | €11,069 | +€61 | +0.6% |
| Other operating charges | 640/8 | €6,325 | €5,398 | -€927 | -14.7% |
| Gross operating margin | 9900 | €136,571 | €88,085 | -€48,486 | -35.5% |
| Operating profit (loss) | 9901 | €18,428 | €30,233 | +€11,806 | +64.1% |
| Financial income | 75/76B | - | €2,467 | +€2,467 | |
| Recurring financial income | 75 | - | €2,467 | +€2,467 | |
| Financial charges | 65/66B | €3,831 | €2,887 | -€944 | -24.6% |
| Recurring financial charges | 65 | €3,831 | €2,887 | -€944 | -24.6% |
| Profit (loss) for the period before taxes | 9903 | €14,596 | €29,813 | +€15,217 | +104% |
| Income taxes | 67/77 | €6,246 | €10,929 | +€4,683 | +75.0% |
| Profit (loss) for the period | 9904 | €8,351 | €18,884 | +€10,533 | +126% |
| Profit (loss) for the period to be appropriated | 9905 | €8,351 | €18,884 | +€10,533 | +126% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.