BAES TECHNOLOGY RESOURCES: what changed
Two fiscal 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 TECHNOLOGY RESOURCES
Largest movements
- Cash +€12,128
up €12,128 (+95.3%), from €12,729 to €24,857
mainly Net result for the year (+€9,805) and Tax, wage and social debts (+€5,396)
- Tangible fixed assets +€8,701
up €8,701 (+289.9%), from €3,002 to €11,703
- Receivables within one year +€4,072
up €4,072 (+41.7%), from €9,766 to €13,838
of which Trade receivables: +€3,309
- Deferred charges and accrued income -€1,912
down €1,912 (-79.9%), from €2,391 to €480
- Profit (loss) carried forward +€9,805
up €9,805 (+103.7%), from €9,458 to €19,263
- Tax, wage and social debts +€5,396
up €5,396 (+87.9%), from €6,137 to €11,534
of which Taxes: +€3,351
- Debts after one year +€4,411
new in 2025: €4,411
- Current portion of long-term debt +€2,650
new in 2025: €2,650
- Trade debts +€2,376
up €2,376 (+118.2%), from €2,010 to €4,386
- Gross operating margin +€4,715
up €4,715 (+39.0%), from €12,078 to €16,793
- Taxes +€699
up €699 (+22.7%), from €3,085 to €3,785
- Financial charges +€280
up €280 (+489.8%), from €57 to €338
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.
Cash bridge derived
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 | €27,888 | €50,877 | +€22,989 | +82.4% |
| Fixed assets | 21/28 | €3,002 | €11,703 | +€8,701 | +289.9% |
| Tangible fixed assets | 22/27 | €3,002 | €11,703 | +€8,701 | +289.9% |
| Furniture and vehicles | 24 | €3,002 | €11,703 | +€8,701 | +289.9% |
| Current assets | 29/58 | €24,887 | €39,175 | +€14,288 | +57.4% |
| Amounts receivable within one year | 40/41 | €9,766 | €13,838 | +€4,072 | +41.7% |
| Trade receivables | 40 | €9,426 | €12,735 | +€3,309 | +35.1% |
| Other amounts receivable | 41 | €340 | €1,103 | +€763 | +224.3% |
| Cash at bank and in hand | 54/58 | €12,729 | €24,857 | +€12,128 | +95.3% |
| Deferred charges and accrued income | 490/1 | €2,391 | €480 | -€1,912 | -79.9% |
| Total equity and liabilities | 10/49 | €27,888 | €50,877 | +€22,989 | +82.4% |
| Equity | 10/15 | €9,758 | €19,563 | +€9,805 | +100.5% |
| Contributions | 10/11 | €300 | €300 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,458 | €19,263 | +€9,805 | +103.7% |
| Amounts payable | 17/49 | €18,130 | €31,314 | +€13,184 | +72.7% |
| Amounts payable after more than one year | 17 | - | €4,411 | +€4,411 | |
| Financial debts | 170/4 | - | €4,411 | +€4,411 | |
| Amounts payable within one year | 42/48 | €18,130 | €26,903 | +€8,773 | +48.4% |
| Current portion of amounts payable after more than one year | 42 | - | €2,650 | +€2,650 | |
| Trade debts | 44 | €2,010 | €4,386 | +€2,376 | +118.2% |
| Suppliers | 440/4 | €2,010 | €4,386 | +€2,376 | +118.2% |
| Taxes, remuneration and social security | 45 | €6,137 | €11,534 | +€5,396 | +87.9% |
| Taxes | 450/3 | €6,137 | €9,488 | +€3,351 | +54.6% |
| Remuneration and social security | 454/9 | - | €2,045 | +€2,045 | |
| Other amounts payable | 47/48 | €9,983 | €8,333 | -€1,649 | -16.5% |
| Non-recurring operating income | 76A | - | €1,044 | +€1,044 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €998 | €1,033 | +€35 | +3.5% |
| Other operating charges | 640/8 | €346 | €332 | -€15 | -4.3% |
| Non-recurring operating charges | 66A | - | €1,556 | +€1,556 | |
| Gross operating margin | 9900 | €12,078 | €16,793 | +€4,715 | +39.0% |
| Operating profit (loss) | 9901 | €10,733 | €13,874 | +€3,140 | +29.3% |
| Financial income | 75/76B | €19 | €53 | +€34 | +179.9% |
| Recurring financial income | 75 | €19 | €53 | +€34 | +179.9% |
| Financial charges | 65/66B | €57 | €338 | +€280 | +489.8% |
| Recurring financial charges | 65 | €57 | €338 | +€280 | +489.8% |
| Profit (loss) for the period before taxes | 9903 | €10,695 | €13,590 | +€2,894 | +27.1% |
| Income taxes | 67/77 | €3,085 | €3,785 | +€699 | +22.7% |
| Profit (loss) for the period | 9904 | €7,610 | €9,805 | +€2,195 | +28.8% |
| Profit (loss) for the period to be appropriated | 9905 | €7,610 | €9,805 | +€2,195 | +28.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.