BAERT VICTORIA: what changed
BAERT VICTORIA
Largest movements
- Cash +€62,269
up €62,269 (+41.3%), from €150,766 to €213,035
mainly Net result for the year (+€69,338) and Trade debts (+€5,973)
- Current investments +€10,350
up €10,350 (+29.5%), from €35,056 to €45,406
- Reserves +€69,338
up €69,338 (+46.1%), from €150,547 to €219,884
of which Non-distributable reserves: +€69,338
- Trade debts +€5,973
up €5,973 (+749%), from €798 to €6,770
- Gross operating margin -€14,026
down €14,026 (-12.1%), from €116,143 to €102,117
- Taxes -€4,996
down €4,996 (-13.2%), from €37,852 to €32,856
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €186,171 | €260,531 | +€74,359 | +39.9% |
| Fixed assets | 21/28 | - | €2,090 | +€2,090 | |
| Tangible fixed assets | 22/27 | - | €2,090 | +€2,090 | |
| Furniture and vehicles | 24 | - | €2,090 | +€2,090 | |
| Current assets | 29/58 | €186,171 | €258,440 | +€72,269 | +38.8% |
| Current investments | 50/53 | €35,056 | €45,406 | +€10,350 | +29.5% |
| Cash at bank and in hand | 54/58 | €150,766 | €213,035 | +€62,269 | +41.3% |
| Deferred charges and accrued income | 490/1 | €350 | - | -€350 | |
| Total equity and liabilities | 10/49 | €186,171 | €260,531 | +€74,359 | +39.9% |
| Equity | 10/15 | €155,547 | €224,884 | +€69,338 | +44.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €150,547 | €219,884 | +€69,338 | +46.1% |
| Non-distributable reserves | 130/1 | €142,547 | €211,884 | +€69,338 | +48.6% |
| Reserves not available under the articles | 1311 | €142,547 | €211,884 | +€69,338 | +48.6% |
| Distributable reserves | 133 | €8,000 | €8,000 | = | 0.0% |
| Amounts payable | 17/49 | €30,625 | €35,646 | +€5,021 | +16.4% |
| Amounts payable within one year | 42/48 | €30,625 | €35,646 | +€5,021 | +16.4% |
| Trade debts | 44 | €798 | €6,770 | +€5,973 | +749% |
| Suppliers | 440/4 | €798 | €6,770 | +€5,973 | +749% |
| Taxes, remuneration and social security | 45 | €29,461 | €28,629 | -€833 | -2.8% |
| Taxes | 450/3 | €23,961 | €24,150 | +€189 | +0.8% |
| Remuneration and social security | 454/9 | €5,500 | €4,478 | -€1,022 | -18.6% |
| Other amounts payable | 47/48 | €366 | €247 | -€118 | -32.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €190 | +€190 | |
| Other operating charges | 640/8 | - | €137 | +€137 | |
| Gross operating margin | 9900 | €116,143 | €102,117 | -€14,026 | -12.1% |
| Operating profit (loss) | 9901 | €116,143 | €101,790 | -€14,353 | -12.4% |
| Financial income | 75/76B | €82 | €500 | +€418 | +508% |
| Recurring financial income | 75 | €82 | €500 | +€418 | +508% |
| Financial charges | 65/66B | €89 | €96 | +€8 | +8.5% |
| Recurring financial charges | 65 | €89 | €96 | +€8 | +8.5% |
| Profit (loss) for the period before taxes | 9903 | €116,136 | €102,194 | -€13,943 | -12.0% |
| Income taxes | 67/77 | €37,852 | €32,856 | -€4,996 | -13.2% |
| Profit (loss) for the period | 9904 | €78,284 | €69,338 | -€8,947 | -11.4% |
| Profit (loss) for the period to be appropriated | 9905 | €78,284 | €69,338 | -€8,947 | -11.4% |
Next steps
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 7 November 2026 via checked.be.