BAERT FILIP: 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.
What changed
BAERT FILIP
NACE 47.811, Retail sale of cars and light vans (up to 3.5 tonnes)
financial year 2026 compared with 2025filed annual accounts (NBB)
Net result for the year
-€31,410
2025 · -€97,035+€65,625
Equity
-€143,340
2025 · -€111,931-€31,410
Cash
€66,573
2025 · €102,082-€35,510
Balance sheet total
€8.3m
2025 · €8.4m-€175,367
Largest movements
Assets
- Tangible fixed assets -€230,025
down €230,025 (-28.7%), from €802,522 to €572,496
- Stocks and contracts +€98,413
up €98,413 (+1.3%), from €7.5m to €7.6m
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Depreciation -€61,609
down €61,609 (-31.1%), from €198,186 to €136,577
- Gross operating margin +€34,337
up €34,337 (+18.6%), from €184,854 to €219,191
- Other operating charges +€28,821
up €28,821 (+326%), from €8,830 to €37,651
- Financial charges -€5,874
down €5,874 (-21.0%), from €27,953 to €22,079
- Taxes +€4,477
up €4,477 (+396%), from €1,131 to €5,607
From the 2025 result to the 2026 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.
Result 2025
-€97,035
Gross operating margin
+€34,337
Staff costs
-€1,775
Depreciation
+€61,609
Other operating charges
-€28,821
Financial income
-€1,122
Financial charges
+€5,874
Taxes
-€4,477
Result 2026
-€31,410
raises the resultlowers the result
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€57,065
Investment
+€93,449
Financing
-€71,893
Cash 2025
€102,082
From operations (derived)
-€57,065
Net result for the year
-€31,410
Depreciation
+€136,577
Stocks and contracts
-€98,413
Receivables within one year
+€3,276
Deferred charges and accrued income
+€4,968
Trade debts
-€3,197
Tax, wage and social debts
+€9,584
Other debts
-€70,852
Accrued charges and deferred income
-€7,599
Investment (derived)
+€93,449
Investment in fixed assets (net)
+€93,449
Financing
-€71,893
Debts after one year
-€18,368
Current portion of long-term debt
-€53,526
Cash 2026
€66,573
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,445,062 | €8,269,695 | -€175,367 | -2.1% |
| Fixed assets | 21/28 | €802,522 | €572,496 | -€230,025 | -28.7% |
| Tangible fixed assets | 22/27 | €802,522 | €572,496 | -€230,025 | -28.7% |
| Land and buildings | 22 | €333,901 | €270,290 | -€63,611 | -19.1% |
| Plant, machinery and equipment | 23 | €347,838 | €285,896 | -€61,942 | -17.8% |
| Furniture and vehicles | 24 | €120,783 | €16,311 | -€104,472 | -86.5% |
| Current assets | 29/58 | €7,642,540 | €7,697,199 | +€54,659 | +0.7% |
| Stocks and contracts in progress | 3 | €7,495,689 | €7,594,102 | +€98,413 | +1.3% |
| Stocks | 30/36 | €7,495,689 | €7,594,102 | +€98,413 | +1.3% |
| Amounts receivable within one year | 40/41 | €26,580 | €23,303 | -€3,276 | -12.3% |
| Trade receivables | 40 | €14,900 | €22,852 | +€7,952 | +53.4% |
| Other amounts receivable | 41 | €11,680 | €451 | -€11,228 | -96.1% |
| Cash at bank and in hand | 54/58 | €102,082 | €66,573 | -€35,510 | -34.8% |
| Deferred charges and accrued income | 490/1 | €18,190 | €13,221 | -€4,968 | -27.3% |
| Total equity and liabilities | 10/49 | €8,445,062 | €8,269,695 | -€175,367 | -2.1% |
| Equity | 10/15 | -€111,931 | -€143,340 | -€31,410 | -28.1% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,111,931 | -€1,143,340 | -€31,410 | -2.8% |
| Amounts payable | 17/49 | €8,556,993 | €8,413,035 | -€143,957 | -1.7% |
| Amounts payable after more than one year | 17 | €74,100 | €55,732 | -€18,368 | -24.8% |
| Financial debts | 170/4 | €74,100 | €55,732 | -€18,368 | -24.8% |
| Amounts payable within one year | 42/48 | €8,472,370 | €8,354,380 | -€117,991 | -1.4% |
| Current portion of amounts payable after more than one year | 42 | €71,893 | €18,368 | -€53,526 | -74.5% |
| Financial debts | 43 | €500,000 | €500,000 | = | 0.0% |
| Credit institutions | 430/8 | €500,000 | €500,000 | = | 0.0% |
| Trade debts | 44 | €7,368 | €4,171 | -€3,197 | -43.4% |
| Suppliers | 440/4 | €7,368 | €4,171 | -€3,197 | -43.4% |
| Taxes, remuneration and social security | 45 | €8,460 | €18,044 | +€9,584 | +113% |
| Taxes | 450/3 | €240 | €9,582 | +€9,342 | +3,890% |
| Remuneration and social security | 454/9 | €8,219 | €8,462 | +€243 | +3.0% |
| Other amounts payable | 47/48 | €7,884,649 | €7,813,797 | -€70,852 | -0.9% |
| Accrued charges and deferred income | 492/3 | €10,523 | €2,924 | -€7,599 | -72.2% |
| Non-recurring operating income | 76A | - | €7,654 | +€7,654 | |
| Remuneration, social security and pensions | 62 | €46,987 | €48,762 | +€1,775 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €198,186 | €136,577 | -€61,609 | -31.1% |
| Other operating charges | 640/8 | €8,830 | €37,651 | +€28,821 | +326% |
| Gross operating margin | 9900 | €184,854 | €219,191 | +€34,337 | +18.6% |
| Operating profit (loss) | 9901 | -€69,149 | -€3,799 | +€65,350 | +94.5% |
| Financial income | 75/76B | €1,198 | €76 | -€1,122 | -93.7% |
| Recurring financial income | 75 | €1,198 | €76 | -€1,122 | -93.7% |
| Financial charges | 65/66B | €27,953 | €22,079 | -€5,874 | -21.0% |
| Recurring financial charges | 65 | €27,953 | €22,079 | -€5,874 | -21.0% |
| Profit (loss) for the period before taxes | 9903 | -€95,904 | -€25,802 | +€70,102 | +73.1% |
| Income taxes | 67/77 | €1,131 | €5,607 | +€4,477 | +396% |
| Profit (loss) for the period | 9904 | -€97,035 | -€31,410 | +€65,625 | +67.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€97,035 | -€31,410 | +€65,625 | +67.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.