Baert Karel: what changed
What changed
Baert Karel
NACE 43.331, Floor and wall tiling
filed annual accounts (NBB)
Net result for the year
€19,835
2024 · -€4,784+€24,619
Equity
€69,023
2024 · €49,188+€19,835
Cash
€9,715
2024 · €7,952+€1,763
Balance sheet total
€352,645
2024 · €318,891+€33,754
Largest movements
Assets
- Stocks and contracts -€55,625
no longer reported in 2025 (was €55,625)
- Tangible fixed assets +€50,694
up €50,694 (+24.1%), from €210,597 to €261,292
of which Furniture and vehicles: +€72,405
- Receivables within one year +€36,922
up €36,922 (+103%), from €35,987 to €72,909
of which Trade receivables: +€23,275
Equity and liabilities
- Trade debts +€72,315
up €72,315 (+248%), from €29,144 to €101,459
- Debts after one year -€29,235
down €29,235 (-21.9%), from €133,752 to €104,517
- Short-term financial debts -€28,378
down €28,378 (-42.6%), from €66,662 to €38,284
- Profit (loss) carried forward +€19,835
up €19,835 (+101%), from €19,550 to €39,385
- Tax, wage and social debts +€4,750
up €4,750 (+88.4%), from €5,376 to €10,127
of which Taxes: +€9,213
Income statement
- Gross operating margin +€40,845
up €40,845 (+34.9%), from €116,967 to €157,812
- Taxes +€10,001
up €10,001 (+901%), from €1,110 to €11,111
- Staff costs +€9,102
up €9,102 (+11.7%), from €77,885 to €86,986
- Financial charges -€2,149
down €2,149 (-15.9%), from €13,476 to €11,327
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€4,784
Gross operating margin
+€40,845
Staff costs
-€9,102
Depreciation
+€1,085
Other operating charges
-€365
Financial income
+€8
Financial charges
+€2,149
Taxes
-€10,001
Result 2025
€19,835
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€135,261
Investment
-€75,017
Financing
-€58,481
Cash 2024
€7,952
From operations (derived)
+€135,261
Net result for the year
+€19,835
Depreciation
+€24,323
Stocks and contracts
+€55,625
Receivables within one year
-€36,922
Trade debts
+€72,315
Tax, wage and social debts
+€4,750
Other debts
-€3,844
Accrued charges and deferred income
-€822
Investment (derived)
-€75,017
Investment in fixed assets (net)
-€75,017
Financing
-€58,481
Debts after one year
-€29,235
Current portion of long-term debt
-€868
Short-term financial debts
-€28,378
Cash 2025
€9,715
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €318,891 | €352,645 | +€33,754 | +10.6% |
| Fixed assets | 21/28 | €210,692 | €261,386 | +€50,694 | +24.1% |
| Tangible fixed assets | 22/27 | €210,597 | €261,292 | +€50,694 | +24.1% |
| Land and buildings | 22 | €206,542 | €183,998 | -€22,544 | -10.9% |
| Plant, machinery and equipment | 23 | €1,418 | €2,250 | +€833 | +58.8% |
| Furniture and vehicles | 24 | €2,638 | €75,043 | +€72,405 | +2,745% |
| Financial fixed assets | 28 | €95 | €95 | = | 0.0% |
| Current assets | 29/58 | €108,199 | €91,258 | -€16,940 | -15.7% |
| Amounts receivable after more than one year | 29 | €8,634 | €8,634 | = | 0.0% |
| Trade receivables | 290 | €8,634 | €8,634 | = | 0.0% |
| Stocks and contracts in progress | 3 | €55,625 | - | -€55,625 | |
| Stocks | 30/36 | €55,625 | - | -€55,625 | |
| Amounts receivable within one year | 40/41 | €35,987 | €72,909 | +€36,922 | +103% |
| Trade receivables | 40 | €27,557 | €50,832 | +€23,275 | +84.5% |
| Other amounts receivable | 41 | €8,430 | €22,077 | +€13,646 | +162% |
| Cash at bank and in hand | 54/58 | €7,952 | €9,715 | +€1,763 | +22.2% |
| Total equity and liabilities | 10/49 | €318,891 | €352,645 | +€33,754 | +10.6% |
| Equity | 10/15 | €49,188 | €69,023 | +€19,835 | +40.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Contributions outside capital | 11 | €12,400 | €12,400 | = | 0.0% |
| Other | 1109/19 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €17,238 | €17,238 | = | 0.0% |
| Tax-exempt reserves | 132 | €15,383 | €15,383 | = | 0.0% |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,550 | €39,385 | +€19,835 | +101% |
| Amounts payable | 17/49 | €269,702 | €283,621 | +€13,919 | +5.2% |
| Amounts payable after more than one year | 17 | €133,752 | €104,517 | -€29,235 | -21.9% |
| Financial debts | 170/4 | €133,752 | €104,517 | -€29,235 | -21.9% |
| Amounts payable within one year | 42/48 | €135,129 | €179,105 | +€43,976 | +32.5% |
| Current portion of amounts payable after more than one year | 42 | €30,103 | €29,235 | -€868 | -2.9% |
| Financial debts | 43 | €66,662 | €38,284 | -€28,378 | -42.6% |
| Credit institutions | 430/8 | €66,662 | €38,284 | -€28,378 | -42.6% |
| Trade debts | 44 | €29,144 | €101,459 | +€72,315 | +248% |
| Suppliers | 440/4 | €29,144 | €101,459 | +€72,315 | +248% |
| Taxes, remuneration and social security | 45 | €5,376 | €10,127 | +€4,750 | +88.4% |
| Taxes | 450/3 | €914 | €10,127 | +€9,213 | +1,008% |
| Remuneration and social security | 454/9 | €4,462 | - | -€4,462 | |
| Other amounts payable | 47/48 | €3,844 | - | -€3,844 | |
| Accrued charges and deferred income | 492/3 | €822 | - | -€822 | |
| Remuneration, social security and pensions | 62 | €77,885 | €86,986 | +€9,102 | +11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,408 | €24,323 | -€1,085 | -4.3% |
| Other operating charges | 640/8 | €3,875 | €4,239 | +€365 | +9.4% |
| Gross operating margin | 9900 | €116,967 | €157,812 | +€40,845 | +34.9% |
| Operating profit (loss) | 9901 | €9,800 | €42,263 | +€32,464 | +331% |
| Financial income | 75/76B | €2 | €10 | +€8 | +422% |
| Recurring financial income | 75 | €2 | €10 | +€8 | +422% |
| Financial charges | 65/66B | €13,476 | €11,327 | -€2,149 | -15.9% |
| Recurring financial charges | 65 | €13,476 | €11,327 | -€2,149 | -15.9% |
| Profit (loss) for the period before taxes | 9903 | -€3,674 | €30,946 | +€34,620 | |
| Income taxes | 67/77 | €1,110 | €11,111 | +€10,001 | +901% |
| Profit (loss) for the period | 9904 | -€4,784 | €19,835 | +€24,619 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,784 | €19,835 | +€24,619 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.