Baetslé: 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.
Baetslé
Largest movements
- Tangible fixed assets +€61,994
up €61,994 (+21.5%), from €287,885 to €349,878
of which Plant, machinery and equipment: +€52,318
- Cash -€34,098
down €34,098 (-51.9%), from €65,701 to €31,603
mainly Investment in fixed assets (net) (-€89,020) and Other debts (-€6,731)
- Debts after one year +€25,043
up €25,043 (+10.0%), from €250,442 to €275,484
- Reserves +€13,719
up €13,719 (+12.4%), from €110,830 to €124,549
- Other debts -€6,731
down €6,731 (-21.9%), from €30,737 to €24,006
- Gross operating margin -€3,634
down €3,634 (-5.7%), from €64,060 to €60,426
- Financial charges +€3,532
up €3,532 (+62.2%), from €5,682 to €9,214
- Taxes -€2,609
down €2,609 (-31.6%), from €8,263 to €5,653
- Other operating charges +€915
up €915 (+40.9%), from €2,239 to €3,154
- Depreciation -€795
down €795 (-2.9%), from €27,821 to €27,026
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 | €453,464 | €481,998 | +€28,534 | +6.3% |
| Fixed assets | 21/28 | €287,885 | €349,878 | +€61,994 | +21.5% |
| Tangible fixed assets | 22/27 | €287,885 | €349,878 | +€61,994 | +21.5% |
| Land and buildings | 22 | €261,461 | €255,116 | -€6,345 | -2.4% |
| Plant, machinery and equipment | 23 | - | €52,318 | +€52,318 | |
| Furniture and vehicles | 24 | €26,424 | €42,445 | +€16,021 | +60.6% |
| Current assets | 29/58 | €165,580 | €132,120 | -€33,460 | -20.2% |
| Stocks and contracts in progress | 3 | €83,265 | €83,265 | = | 0.0% |
| Stocks | 30/36 | €83,265 | €83,265 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €16,069 | €15,600 | -€469 | -2.9% |
| Trade receivables | 40 | €16,069 | €11,253 | -€4,816 | -30.0% |
| Other amounts receivable | 41 | - | €4,347 | +€4,347 | |
| Cash at bank and in hand | 54/58 | €65,701 | €31,603 | -€34,098 | -51.9% |
| Deferred charges and accrued income | 490/1 | €545 | €1,653 | +€1,107 | +203.0% |
| Total equity and liabilities | 10/49 | €453,464 | €481,998 | +€28,534 | +6.3% |
| Equity | 10/15 | €128,830 | €142,549 | +€13,719 | +10.6% |
| Contributions | 10/11 | €18,000 | €18,000 | = | 0.0% |
| Reserves | 13 | €110,830 | €124,549 | +€13,719 | +12.4% |
| Distributable reserves | 133 | €110,830 | €124,549 | +€13,719 | +12.4% |
| Amounts payable | 17/49 | €324,634 | €339,449 | +€14,816 | +4.6% |
| Amounts payable after more than one year | 17 | €250,442 | €275,484 | +€25,043 | +10.0% |
| Financial debts | 170/4 | €250,442 | €275,484 | +€25,043 | +10.0% |
| Amounts payable within one year | 42/48 | €72,627 | €62,140 | -€10,487 | -14.4% |
| Current portion of amounts payable after more than one year | 42 | €28,494 | €30,193 | +€1,699 | +6.0% |
| Trade debts | 44 | €4,246 | €3,156 | -€1,090 | -25.7% |
| Suppliers | 440/4 | €4,246 | €3,156 | -€1,090 | -25.7% |
| Taxes, remuneration and social security | 45 | €9,150 | €4,785 | -€4,364 | -47.7% |
| Taxes | 450/3 | €9,150 | €4,785 | -€4,364 | -47.7% |
| Other amounts payable | 47/48 | €30,737 | €24,006 | -€6,731 | -21.9% |
| Accrued charges and deferred income | 492/3 | €1,565 | €1,825 | +€260 | +16.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,821 | €27,026 | -€795 | -2.9% |
| Other operating charges | 640/8 | €2,239 | €3,154 | +€915 | +40.9% |
| Gross operating margin | 9900 | €64,060 | €60,426 | -€3,634 | -5.7% |
| Operating profit (loss) | 9901 | €34,001 | €30,246 | -€3,755 | -11.0% |
| Financial income | 75/76B | €4 | €0 | -€4 | -97.9% |
| Recurring financial income | 75 | €4 | €0 | -€4 | -97.9% |
| Financial charges | 65/66B | €5,682 | €9,214 | +€3,532 | +62.2% |
| Recurring financial charges | 65 | €5,682 | €9,214 | +€3,532 | +62.2% |
| Profit (loss) for the period before taxes | 9903 | €28,323 | €21,032 | -€7,291 | -25.7% |
| Income taxes | 67/77 | €8,263 | €5,653 | -€2,609 | -31.6% |
| Profit (loss) for the period | 9904 | €20,060 | €15,379 | -€4,682 | -23.3% |
| Profit (loss) for the period to be appropriated | 9905 | €20,060 | €15,379 | -€4,682 | -23.3% |
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 11 October 2026 via checked.be.