BAETEN: 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.
BAETEN
Largest movements
- Receivables within one year +€84,260
up €84,260 (+2734.1%), from €3,082 to €87,341
of which Trade receivables: +€80,147
- Tangible fixed assets -€36,463
down €36,463 (-14.8%), from €247,040 to €210,576
of which Land and buildings: -€20,384
- Trade debts +€70,206
up €70,206 (+270.5%), from €25,957 to €96,164
of which Bills of exchange payable: +€55,228
- Other debts -€18,212
down €18,212 (-30.4%), from €59,866 to €41,655
- Debts after one year -€13,042
down €13,042 (-100.0%), from €13,042 to €0
- Short-term financial debts +€5,787
up €5,787 (+60.3%), from €9,599 to €15,386
- Staff costs +€15,367
up €15,367 (+6.0%), from €254,935 to €270,302
- Taxes -€4,418
down €4,418 (-83.3%), from €5,306 to €887
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 | €290,112 | €336,878 | +€46,767 | +16.1% |
| Fixed assets | 21/28 | €269,540 | €233,076 | -€36,463 | -13.5% |
| Tangible fixed assets | 22/27 | €247,040 | €210,576 | -€36,463 | -14.8% |
| Land and buildings | 22 | €213,763 | €193,379 | -€20,384 | -9.5% |
| Furniture and vehicles | 24 | €4,705 | €288 | -€4,417 | -93.9% |
| Leasing and similar rights | 25 | €28,572 | €16,910 | -€11,662 | -40.8% |
| Financial fixed assets | 28 | €22,500 | €22,500 | = | 0.0% |
| Current assets | 29/58 | €20,572 | €103,802 | +€83,230 | +404.6% |
| Amounts receivable within one year | 40/41 | €3,082 | €87,341 | +€84,260 | +2734.1% |
| Trade receivables | 40 | €0 | €80,147 | +€80,147 | |
| Other amounts receivable | 41 | €3,082 | €7,194 | +€4,113 | +133.4% |
| Cash at bank and in hand | 54/58 | €8,141 | €8,682 | +€541 | +6.6% |
| Deferred charges and accrued income | 490/1 | €9,349 | €7,778 | -€1,571 | -16.8% |
| Total equity and liabilities | 10/49 | €290,112 | €336,878 | +€46,767 | +16.1% |
| Equity | 10/15 | €109,889 | €110,452 | +€562 | +0.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €103,689 | €104,252 | +€562 | +0.5% |
| Tax-exempt reserves | 132 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €93,689 | €94,252 | +€562 | +0.6% |
| Amounts payable | 17/49 | €180,222 | €226,427 | +€46,205 | +25.6% |
| Amounts payable after more than one year | 17 | €13,042 | €0 | -€13,042 | -100.0% |
| Financial debts | 170/4 | €13,042 | €0 | -€13,042 | -100.0% |
| Amounts payable within one year | 42/48 | €167,180 | €226,427 | +€59,246 | +35.4% |
| Current portion of amounts payable after more than one year | 42 | €37,586 | €36,843 | -€743 | -2.0% |
| Financial debts | 43 | €9,599 | €15,386 | +€5,787 | +60.3% |
| Credit institutions | 430/8 | €9,599 | €15,386 | +€5,787 | +60.3% |
| Trade debts | 44 | €25,957 | €96,164 | +€70,206 | +270.5% |
| Suppliers | 440/4 | €19,261 | €34,240 | +€14,979 | +77.8% |
| Bills of exchange payable | 441 | €6,696 | €61,924 | +€55,228 | +824.8% |
| Taxes, remuneration and social security | 45 | €34,171 | €36,379 | +€2,208 | +6.5% |
| Taxes | 450/3 | €1,687 | €807 | -€880 | -52.2% |
| Remuneration and social security | 454/9 | €32,485 | €35,572 | +€3,088 | +9.5% |
| Other amounts payable | 47/48 | €59,866 | €41,655 | -€18,212 | -30.4% |
| Non-recurring operating income | 76A | €3,632 | €0 | -€3,632 | -100.0% |
| Remuneration, social security and pensions | 62 | €254,935 | €270,302 | +€15,367 | +6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,477 | €32,391 | -€3,086 | -8.7% |
| Other operating charges | 640/8 | €2,270 | €2,026 | -€244 | -10.8% |
| Non-recurring operating charges | 66A | - | €4,072 | +€4,072 | |
| Gross operating margin | 9900 | €310,673 | €313,663 | +€2,990 | +1.0% |
| Operating profit (loss) | 9901 | €17,991 | €4,872 | -€13,119 | -72.9% |
| Financial income | 75/76B | €0 | €333 | +€333 | +475328.6% |
| Recurring financial income | 75 | €0 | €333 | +€333 | +475328.6% |
| Financial charges | 65/66B | €3,758 | €3,755 | -€3 | -0.1% |
| Recurring financial charges | 65 | €3,758 | €3,755 | -€3 | -0.1% |
| Profit (loss) for the period before taxes | 9903 | €14,233 | €1,450 | -€12,783 | -89.8% |
| Income taxes | 67/77 | €5,306 | €887 | -€4,418 | -83.3% |
| Profit (loss) for the period | 9904 | €8,927 | €562 | -€8,365 | -93.7% |
| Profit (loss) for the period to be appropriated | 9905 | €8,927 | €562 | -€8,365 | -93.7% |
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 10 October 2026 via checked.be.