BAEYENS: what changed
Two fiscal 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.
BAEYENS
Largest movements
- Cash +€239,920
up €239,920 (+162.9%), from €147,303 to €387,223
mainly Depreciation (+€240,762) and Net result for the year (+€106,394)
- Tangible fixed assets -€235,757
down €235,757 (-46.3%), from €509,165 to €273,409
of which Furniture and vehicles: -€120,078
- Receivables within one year +€26,117
up €26,117 (+5.9%), from €439,804 to €465,921
of which Trade receivables: +€15,430
- Reserves +€106,320
up €106,320 (+25.9%), from €410,007 to €516,326
of which Distributable reserves: +€101,000
- Current portion of long-term debt -€54,111
down €54,111 (-69.4%), from €78,000 to €23,889
- Debts after one year -€23,889
down €23,889 (-16.0%), from €148,889 to €125,000
- Gross operating margin +€61,316
up €61,316 (+12.4%), from €493,489 to €554,805
- Depreciation -€51,198
down €51,198 (-17.5%), from €291,960 to €240,762
- Taxes +€36,317
up €36,317 (+494.6%), from €7,343 to €43,660
- Staff costs -€11,434
down €11,434 (-6.9%), from €165,077 to €153,644
- Financial income -€6,678
down €6,678 (-96.6%), from €6,915 to €237
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 | €1,126,158 | €1,149,129 | +€22,971 | +2.0% |
| Fixed assets | 21/28 | €509,165 | €273,409 | -€235,757 | -46.3% |
| Tangible fixed assets | 22/27 | €509,165 | €273,409 | -€235,757 | -46.3% |
| Plant, machinery and equipment | 23 | €251,633 | €135,954 | -€115,678 | -46.0% |
| Furniture and vehicles | 24 | €257,532 | €137,454 | -€120,078 | -46.6% |
| Current assets | 29/58 | €616,993 | €875,721 | +€258,728 | +41.9% |
| Stocks and contracts in progress | 3 | €16,578 | €9,489 | -€7,089 | -42.8% |
| Stocks | 30/36 | €16,578 | €9,489 | -€7,089 | -42.8% |
| Amounts receivable within one year | 40/41 | €439,804 | €465,921 | +€26,117 | +5.9% |
| Trade receivables | 40 | €437,517 | €452,948 | +€15,430 | +3.5% |
| Other amounts receivable | 41 | €2,287 | €12,973 | +€10,687 | +467.4% |
| Cash at bank and in hand | 54/58 | €147,303 | €387,223 | +€239,920 | +162.9% |
| Deferred charges and accrued income | 490/1 | €13,308 | €13,087 | -€221 | -1.7% |
| Total equity and liabilities | 10/49 | €1,126,158 | €1,149,129 | +€22,971 | +2.0% |
| Equity | 10/15 | €805,633 | €912,027 | +€106,394 | +13.2% |
| Contributions | 10/11 | €376,594 | €376,594 | = | 0.0% |
| Capital | 10 | €376,594 | €376,594 | = | 0.0% |
| Issued capital | 100 | €376,594 | €376,594 | = | 0.0% |
| Reserves | 13 | €410,007 | €516,326 | +€106,320 | +25.9% |
| Non-distributable reserves | 130/1 | €26,557 | €31,877 | +€5,320 | +20.0% |
| Legal reserve | 130 | €26,557 | €31,877 | +€5,320 | +20.0% |
| Tax-exempt reserves | 132 | €11,349 | €11,349 | = | 0.0% |
| Distributable reserves | 133 | €372,100 | €473,100 | +€101,000 | +27.1% |
| Profit (loss) carried forward | 14 | €19,033 | €19,108 | +€75 | +0.4% |
| Amounts payable | 17/49 | €320,525 | €237,102 | -€83,423 | -26.0% |
| Amounts payable after more than one year | 17 | €148,889 | €125,000 | -€23,889 | -16.0% |
| Financial debts | 170/4 | €148,889 | €125,000 | -€23,889 | -16.0% |
| Amounts payable within one year | 42/48 | €168,565 | €108,656 | -€59,910 | -35.5% |
| Current portion of amounts payable after more than one year | 42 | €78,000 | €23,889 | -€54,111 | -69.4% |
| Trade debts | 44 | €35,954 | €28,074 | -€7,880 | -21.9% |
| Suppliers | 440/4 | €35,954 | €28,074 | -€7,880 | -21.9% |
| Taxes, remuneration and social security | 45 | €21,143 | €24,208 | +€3,064 | +14.5% |
| Taxes | 450/3 | €2,202 | €3,261 | +€1,058 | +48.1% |
| Remuneration and social security | 454/9 | €18,941 | €20,947 | +€2,006 | +10.6% |
| Other amounts payable | 47/48 | €33,468 | €32,485 | -€983 | -2.9% |
| Accrued charges and deferred income | 492/3 | €3,071 | €3,446 | +€375 | +12.2% |
| Non-recurring operating income | 76A | €2,500 | - | -€2,500 | |
| Remuneration, social security and pensions | 62 | €165,077 | €153,644 | -€11,434 | -6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €291,960 | €240,762 | -€51,198 | -17.5% |
| Other operating charges | 640/8 | €2,853 | €376 | -€2,477 | -86.8% |
| Gross operating margin | 9900 | €493,489 | €554,805 | +€61,316 | +12.4% |
| Operating profit (loss) | 9901 | €33,598 | €160,023 | +€126,424 | +376.3% |
| Financial income | 75/76B | €6,915 | €237 | -€6,678 | -96.6% |
| Recurring financial income | 75 | €6,915 | €237 | -€6,678 | -96.6% |
| Financial charges | 65/66B | €12,291 | €10,205 | -€2,087 | -17.0% |
| Recurring financial charges | 65 | €12,291 | €10,205 | -€2,087 | -17.0% |
| Profit (loss) for the period before taxes | 9903 | €28,222 | €150,055 | +€121,833 | +431.7% |
| Income taxes | 67/77 | €7,343 | €43,660 | +€36,317 | +494.6% |
| Profit (loss) for the period | 9904 | €20,879 | €106,394 | +€85,516 | +409.6% |
| Profit (loss) for the period to be appropriated | 9905 | €20,879 | €106,394 | +€85,516 | +409.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.