BAES GEERT: 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.
BAES GEERT
Largest movements
- Tangible fixed assets +€6,544
up €6,544 (+758%), from €863 to €7,407
- Cash +€4,420
up €4,420 (+3.8%), from €117,395 to €121,815
mainly Net result for the year (+€36,369) and Depreciation (+€2,296)
- Reserves +€36,369
up €36,369 (+46.3%), from €78,608 to €114,977
- Tax, wage and social debts -€25,833
down €25,833 (-73.7%), from €35,051 to €9,217
- Gross operating margin -€54,136
down €54,136 (-49.1%), from €110,330 to €56,194
- Taxes -€16,012
down €16,012 (-52.2%), from €30,700 to €14,688
- Depreciation +€2,082
up €2,082 (+971%), from €214 to €2,296
- Other operating charges +€2,040
up €2,040 (+279%), from €732 to €2,772
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 | €118,659 | €129,623 | +€10,964 | +9.2% |
| Fixed assets | 21/28 | €863 | €7,407 | +€6,544 | +758% |
| Tangible fixed assets | 22/27 | €863 | €7,407 | +€6,544 | +758% |
| Furniture and vehicles | 24 | €863 | €7,407 | +€6,544 | +758% |
| Current assets | 29/58 | €117,796 | €122,216 | +€4,420 | +3.8% |
| Amounts receivable within one year | 40/41 | €400 | €400 | = | 0.0% |
| Other amounts receivable | 41 | €400 | €400 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €117,395 | €121,815 | +€4,420 | +3.8% |
| Total equity and liabilities | 10/49 | €118,659 | €129,623 | +€10,964 | +9.2% |
| Equity | 10/15 | €83,608 | €119,977 | +€36,369 | +43.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €78,608 | €114,977 | +€36,369 | +46.3% |
| Distributable reserves | 133 | €78,608 | €114,977 | +€36,369 | +46.3% |
| Amounts payable | 17/49 | €35,051 | €9,646 | -€25,405 | -72.5% |
| Amounts payable within one year | 42/48 | €35,051 | €9,646 | -€25,405 | -72.5% |
| Trade debts | 44 | - | €428 | +€428 | |
| Suppliers | 440/4 | - | €428 | +€428 | |
| Taxes, remuneration and social security | 45 | €35,051 | €9,217 | -€25,833 | -73.7% |
| Taxes | 450/3 | €35,051 | €9,217 | -€25,833 | -73.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €214 | €2,296 | +€2,082 | +971% |
| Other operating charges | 640/8 | €732 | €2,772 | +€2,040 | +279% |
| Gross operating margin | 9900 | €110,330 | €56,194 | -€54,136 | -49.1% |
| Operating profit (loss) | 9901 | €109,383 | €51,126 | -€58,258 | -53.3% |
| Financial charges | 65/66B | €76 | €69 | -€7 | -8.7% |
| Recurring financial charges | 65 | €76 | €69 | -€7 | -8.7% |
| Profit (loss) for the period before taxes | 9903 | €109,308 | €51,057 | -€58,251 | -53.3% |
| Income taxes | 67/77 | €30,700 | €14,688 | -€16,012 | -52.2% |
| Profit (loss) for the period | 9904 | €78,608 | €36,369 | -€42,239 | -53.7% |
| Profit (loss) for the period to be appropriated | 9905 | €78,608 | €36,369 | -€42,239 | -53.7% |
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 23 October 2026 via checked.be.