BAESTAENS: 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.
BAESTAENS
Largest movements
- Cash +€223,728
up €223,728 (+35.5%), from €630,784 to €854,512
mainly Net result for the year (+€187,370) and Stocks and contracts (+€145,055)
- Stocks and contracts -€145,055
down €145,055 (-7.2%), from €2.0m to €1.9m
- Receivables within one year -€76,596
down €76,596 (-10.8%), from €707,886 to €631,290
of which Other amounts receivable: -€174,853
- Reserves -€191,938
down €191,938 (-5.9%), from €3.3m to €3.1m
- Trade debts +€104,577
up €104,577 (+85.6%), from €122,157 to €226,735
- Tax, wage and social debts +€69,698
up €69,698 (+91.9%), from €75,876 to €145,574
of which Taxes: +€66,983
- Gross operating margin -€200,621
down €200,621 (-32.7%), from €614,348 to €413,727
- Taxes -€73,145
down €73,145 (-46.6%), from €156,930 to €83,785
- Staff costs +€26,627
up €26,627 (+36.1%), from €73,814 to €100,442
- Depreciation +€6,172
up €6,172 (+14.5%), from €42,649 to €48,821
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 | €3,585,932 | €3,570,903 | -€15,028 | -0.4% |
| Fixed assets | 21/28 | €245,277 | €226,997 | -€18,280 | -7.5% |
| Tangible fixed assets | 22/27 | €245,027 | €226,747 | -€18,280 | -7.5% |
| Land and buildings | 22 | €3,187 | €1,800 | -€1,387 | -43.5% |
| Plant, machinery and equipment | 23 | €6,569 | €7,121 | +€552 | +8.4% |
| Furniture and vehicles | 24 | €235,272 | €217,826 | -€17,446 | -7.4% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €3,340,655 | €3,343,906 | +€3,252 | +0.1% |
| Stocks and contracts in progress | 3 | €2,001,985 | €1,856,930 | -€145,055 | -7.2% |
| Stocks | 30/36 | €2,001,985 | €1,856,930 | -€145,055 | -7.2% |
| Amounts receivable within one year | 40/41 | €707,886 | €631,290 | -€76,596 | -10.8% |
| Trade receivables | 40 | €532,620 | €630,877 | +€98,257 | +18.4% |
| Other amounts receivable | 41 | €175,266 | €412 | -€174,853 | -99.8% |
| Cash at bank and in hand | 54/58 | €630,784 | €854,512 | +€223,728 | +35.5% |
| Deferred charges and accrued income | 490/1 | €0 | €1,175 | +€1,175 | |
| Total equity and liabilities | 10/49 | €3,585,932 | €3,570,903 | -€15,028 | -0.4% |
| Equity | 10/15 | €3,280,851 | €3,088,913 | -€191,938 | -5.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €3,262,259 | €3,070,321 | -€191,938 | -5.9% |
| Distributable reserves | 133 | €3,262,259 | €3,070,321 | -€191,938 | -5.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €305,081 | €481,990 | +€176,910 | +58.0% |
| Amounts payable within one year | 42/48 | €305,081 | €481,990 | +€176,910 | +58.0% |
| Trade debts | 44 | €122,157 | €226,735 | +€104,577 | +85.6% |
| Suppliers | 440/4 | €122,157 | €226,735 | +€104,577 | +85.6% |
| Taxes, remuneration and social security | 45 | €75,876 | €145,574 | +€69,698 | +91.9% |
| Taxes | 450/3 | €63,377 | €130,360 | +€66,983 | +106% |
| Remuneration and social security | 454/9 | €12,498 | €15,213 | +€2,715 | +21.7% |
| Other amounts payable | 47/48 | €107,048 | €109,682 | +€2,634 | +2.5% |
| Non-recurring operating income | 76A | - | €0 | = | |
| Remuneration, social security and pensions | 62 | €73,814 | €100,442 | +€26,627 | +36.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,649 | €48,821 | +€6,172 | +14.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | -€5,500 | -€5,500 | |
| Other operating charges | 640/8 | €9,463 | €9,045 | -€418 | -4.4% |
| Non-recurring operating charges | 66A | - | €0 | = | |
| Gross operating margin | 9900 | €614,348 | €413,727 | -€200,621 | -32.7% |
| Operating profit (loss) | 9901 | €488,421 | €260,919 | -€227,502 | -46.6% |
| Financial income | 75/76B | €17,041 | €18,600 | +€1,558 | +9.1% |
| Recurring financial income | 75 | €16,791 | €18,600 | +€1,808 | +10.8% |
| Non-recurring financial income | 76B | €250 | - | -€250 | |
| Financial charges | 65/66B | €9,011 | €8,364 | -€647 | -7.2% |
| Recurring financial charges | 65 | €8,811 | €8,364 | -€447 | -5.1% |
| Non-recurring financial charges | 66B | €200 | - | -€200 | |
| Profit (loss) for the period before taxes | 9903 | €496,452 | €271,155 | -€225,297 | -45.4% |
| Income taxes | 67/77 | €156,930 | €83,785 | -€73,145 | -46.6% |
| Profit (loss) for the period | 9904 | €339,522 | €187,370 | -€152,152 | -44.8% |
| Profit (loss) for the period to be appropriated | 9905 | €339,522 | €187,370 | -€152,152 | -44.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.