BAETEN STEFAN: what changed
What changed
BAETEN STEFAN
NACE 43.320, Joinery installation
filed annual accounts (NBB)
Net result for the year
-€7,561
2024 · -€9,275+€1,714
Equity
€375,192
2024 · €382,753-€7,561
Cash
€7,036
2024 · €867+€6,169
Balance sheet total
€830,057
2024 · €851,981-€21,924
Largest movements
Assets
- Tangible fixed assets -€25,915
down €25,915 (-3.7%), from €691,456 to €665,541
of which Land and buildings: -€19,742
Equity and liabilities
- Debts after one year -€26,998
down €26,998 (-7.2%), from €376,388 to €349,390
Income statement
- Gross operating margin +€3,417
up €3,417 (+10.5%), from €32,514 to €35,931
- Other operating charges +€1,161
up €1,161 (+19.1%), from €6,086 to €7,247
- Financial income -€684
down €684 (-99.7%), from €686 to €2
of which Non-recurring financial income: -€679
- Financial charges -€553
down €553 (-4.9%), from €11,194 to €10,641
of which Financial charges: -€376
- Depreciation +€411
up €411 (+1.5%), from €27,455 to €27,866
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.
Result 2024
-€9,275
Gross operating margin
+€3,417
Depreciation
-€411
Other operating charges
-€1,161
Financial income
-€684
Financial charges
+€553
Result 2025
-€7,561
raises the resultlowers the result
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.
From operations
+€34,955
Investment
-€1,951
Financing
-€26,835
Cash 2024
€867
From operations (derived)
+€34,955
Net result for the year
-€7,561
Depreciation
+€27,866
Receivables within one year
+€2,178
Provisions
-€2,260
Trade debts
+€6,640
Tax, wage and social debts
+€7,348
Other debts
+€742
Accrued charges and deferred income
+€2
Investment (derived)
-€1,951
Investment in fixed assets (net)
-€1,951
Financing
-€26,835
Debts after one year
-€26,998
Current portion of long-term debt
+€163
Cash 2025
€7,036
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €851,981 | €830,057 | -€21,924 | -2.6% |
| Fixed assets | 21/28 | €691,456 | €665,541 | -€25,915 | -3.7% |
| Tangible fixed assets | 22/27 | €691,456 | €665,541 | -€25,915 | -3.7% |
| Land and buildings | 22 | €678,810 | €659,068 | -€19,742 | -2.9% |
| Furniture and vehicles | 24 | €12,646 | €6,473 | -€6,173 | -48.8% |
| Current assets | 29/58 | €160,525 | €164,516 | +€3,991 | +2.5% |
| Amounts receivable within one year | 40/41 | €148,658 | €146,480 | -€2,178 | -1.5% |
| Trade receivables | 40 | - | €908 | +€908 | |
| Other amounts receivable | 41 | €148,658 | €145,572 | -€3,086 | -2.1% |
| Current investments | 50/53 | €11,000 | €11,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €867 | €7,036 | +€6,169 | +712% |
| Total equity and liabilities | 10/49 | €851,981 | €830,057 | -€21,924 | -2.6% |
| Equity | 10/15 | €382,753 | €375,192 | -€7,561 | -2.0% |
| Contributions | 10/11 | €162,605 | €162,605 | = | 0.0% |
| Reserves | 13 | €261,854 | €255,075 | -€6,779 | -2.6% |
| Tax-exempt reserves | 132 | €139,419 | €132,640 | -€6,779 | -4.9% |
| Distributable reserves | 133 | €122,435 | €122,435 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€41,706 | -€42,488 | -€782 | -1.9% |
| Provisions and deferred taxes | 16 | €46,473 | €44,213 | -€2,260 | -4.9% |
| Provisions for liabilities and charges | 160/5 | €46,473 | €44,213 | -€2,260 | -4.9% |
| Taxes | 161 | €46,473 | €44,213 | -€2,260 | -4.9% |
| Amounts payable | 17/49 | €422,755 | €410,652 | -€12,103 | -2.9% |
| Amounts payable after more than one year | 17 | €376,388 | €349,390 | -€26,998 | -7.2% |
| Financial debts | 170/4 | €376,388 | €349,390 | -€26,998 | -7.2% |
| Amounts payable within one year | 42/48 | €46,366 | €61,259 | +€14,893 | +32.1% |
| Current portion of amounts payable after more than one year | 42 | €26,835 | €26,998 | +€163 | +0.6% |
| Trade debts | 44 | €1,558 | €8,198 | +€6,640 | +426% |
| Suppliers | 440/4 | €1,558 | €8,198 | +€6,640 | +426% |
| Taxes, remuneration and social security | 45 | €200 | €7,548 | +€7,348 | +3,674% |
| Taxes | 450/3 | €200 | €7,548 | +€7,348 | +3,674% |
| Other amounts payable | 47/48 | €17,773 | €18,515 | +€742 | +4.2% |
| Accrued charges and deferred income | 492/3 | €1 | €3 | +€2 | +200% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,455 | €27,866 | +€411 | +1.5% |
| Other operating charges | 640/8 | €6,086 | €7,247 | +€1,161 | +19.1% |
| Gross operating margin | 9900 | €32,514 | €35,931 | +€3,417 | +10.5% |
| Operating profit (loss) | 9901 | -€1,027 | €818 | +€1,845 | |
| Financial income | 75/76B | €686 | €2 | -€684 | -99.7% |
| Recurring financial income | 75 | €7 | €2 | -€5 | -71.4% |
| Non-recurring financial income | 76B | €679 | - | -€679 | |
| Financial charges | 65/66B | €11,194 | €10,641 | -€553 | -4.9% |
| Recurring financial charges | 65 | €11,017 | €10,641 | -€376 | -3.4% |
| Non-recurring financial charges | 66B | €177 | - | -€177 | |
| Profit (loss) for the period before taxes | 9903 | -€11,535 | -€9,821 | +€1,714 | +14.9% |
| Transfer from deferred taxes | 780 | €2,260 | €2,260 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€9,275 | -€7,561 | +€1,714 | +18.5% |
| Transfer from tax-exempt reserves | 789 | €6,779 | €6,779 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,496 | -€782 | +€1,714 | +68.7% |
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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 5 November 2026 via checked.be.