BAETENS DIRK: 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.
BAETENS DIRK
Largest movements
- Cash -€41,449
down €41,449 (-40.4%), from €102,510 to €61,061
mainly Contributions, distributions and other (-€127,497) and Accrued charges and deferred income (-€20,495)
- Accrued charges and deferred income -€20,495
down €20,495 (-44.2%), from €46,370 to €25,875
- Reserves -€18,510
down €18,510 (-2.9%), from €645,396 to €626,885
- Financial income +€18,613
up €18,613 (+151%), from €12,290 to €30,903
- Taxes +€8,092
up €8,092 (+18.4%), from €43,936 to €52,028
- Gross operating margin +€5,631
up €5,631 (+4.4%), from €128,247 to €133,877
- Depreciation -€2,846
down €2,846 (-83.0%), from €3,430 to €583
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 | €716,109 | €668,800 | -€47,309 | -6.6% |
| Fixed assets | 21/28 | €906 | €323 | -€583 | -64.4% |
| Tangible fixed assets | 22/27 | €906 | €323 | -€583 | -64.4% |
| Plant, machinery and equipment | 23 | €906 | €323 | -€583 | -64.4% |
| Current assets | 29/58 | €715,203 | €668,477 | -€46,725 | -6.5% |
| Amounts receivable within one year | 40/41 | €6,676 | €113 | -€6,563 | -98.3% |
| Trade receivables | 40 | - | €113 | +€113 | |
| Other amounts receivable | 41 | €6,676 | - | -€6,676 | |
| Current investments | 50/53 | €606,016 | €607,303 | +€1,287 | +0.2% |
| Cash at bank and in hand | 54/58 | €102,510 | €61,061 | -€41,449 | -40.4% |
| Total equity and liabilities | 10/49 | €716,109 | €668,800 | -€47,309 | -6.6% |
| Equity | 10/15 | €650,408 | €631,897 | -€18,510 | -2.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €645,396 | €626,885 | -€18,510 | -2.9% |
| Distributable reserves | 133 | €645,396 | €626,885 | -€18,510 | -2.9% |
| Profit (loss) carried forward | 14 | €12 | €12 | = | 0.0% |
| Amounts payable | 17/49 | €65,701 | €36,903 | -€28,798 | -43.8% |
| Amounts payable within one year | 42/48 | €19,331 | €11,028 | -€8,303 | -43.0% |
| Trade debts | 44 | €6,981 | €387 | -€6,594 | -94.5% |
| Suppliers | 440/4 | €6,981 | €387 | -€6,594 | -94.5% |
| Taxes, remuneration and social security | 45 | €10,754 | €7,755 | -€2,999 | -27.9% |
| Taxes | 450/3 | €10,754 | €7,755 | -€2,999 | -27.9% |
| Other amounts payable | 47/48 | €1,597 | €2,887 | +€1,290 | +80.8% |
| Accrued charges and deferred income | 492/3 | €46,370 | €25,875 | -€20,495 | -44.2% |
| Non-recurring operating income | 76A | €30 | €30 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,430 | €583 | -€2,846 | -83.0% |
| Other operating charges | 640/8 | €141 | €144 | +€4 | +2.6% |
| Gross operating margin | 9900 | €128,247 | €133,877 | +€5,631 | +4.4% |
| Operating profit (loss) | 9901 | €124,677 | €133,150 | +€8,473 | +6.8% |
| Financial income | 75/76B | €12,290 | €30,903 | +€18,613 | +151% |
| Recurring financial income | 75 | €12,290 | €30,903 | +€18,613 | +151% |
| Financial charges | 65/66B | €3,777 | €3,039 | -€739 | -19.6% |
| Recurring financial charges | 65 | €3,651 | €2,986 | -€666 | -18.2% |
| Non-recurring financial charges | 66B | €126 | €53 | -€73 | -58.0% |
| Profit (loss) for the period before taxes | 9903 | €133,189 | €161,014 | +€27,825 | +20.9% |
| Income taxes | 67/77 | €43,936 | €52,028 | +€8,092 | +18.4% |
| Profit (loss) for the period | 9904 | €89,254 | €108,986 | +€19,733 | +22.1% |
| Profit (loss) for the period to be appropriated | 9905 | €89,254 | €108,986 | +€19,733 | +22.1% |
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 24 October 2026 via checked.be.