Baeyens Geert: what changed
Baeyens Geert
Largest movements
- Current investments -€150,000
no longer reported in 2025 (was €150,000)
- Tangible fixed assets +€135,241
up €135,241 (+55.7%), from €242,918 to €378,159
of which Land and buildings: +€148,780
- Receivables within one year +€28,006
up €28,006 (+225%), from €12,462 to €40,468
of which Trade receivables: +€19,596
- Cash +€6,529
up €6,529 (+4.6%), from €143,119 to €149,648
mainly Current investments (+€150,000) and Net result for the year (+€27,873)
- Reserves +€27,873
up €27,873 (+7.4%), from €375,289 to €403,162
of which Distributable reserves: +€27,873
- Debts after one year -€15,768
down €15,768 (-11.3%), from €139,464 to €123,696
- Other debts -€10,069
no longer reported in 2025 (was €10,069)
- Trade debts +€7,517
up €7,517 (+162%), from €4,644 to €12,161
- Tax, wage and social debts +€7,287
new in 2025: €7,287
- Financial charges +€19,350
up €19,350 (+627%), from €3,085 to €22,435
of which Non-recurring financial charges: +€19,606
- Gross operating margin -€17,538
down €17,538 (-17.0%), from €103,187 to €85,649
- Taxes -€10,114
down €10,114 (-48.3%), from €20,942 to €10,828
- Financial income -€1,682
down €1,682 (-40.6%), from €4,138 to €2,456
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €551,174 | €568,274 | +€17,101 | +3.1% |
| Fixed assets | 21/28 | €242,918 | €378,159 | +€135,241 | +55.7% |
| Tangible fixed assets | 22/27 | €242,918 | €378,159 | +€135,241 | +55.7% |
| Land and buildings | 22 | €189,812 | €338,592 | +€148,780 | +78.4% |
| Plant, machinery and equipment | 23 | €40,947 | €32,108 | -€8,839 | -21.6% |
| Furniture and vehicles | 24 | €12,159 | €7,459 | -€4,700 | -38.7% |
| Current assets | 29/58 | €308,256 | €190,116 | -€118,140 | -38.3% |
| Amounts receivable within one year | 40/41 | €12,462 | €40,468 | +€28,006 | +225% |
| Trade receivables | 40 | €3,459 | €23,055 | +€19,596 | +567% |
| Other amounts receivable | 41 | €9,003 | €17,412 | +€8,409 | +93.4% |
| Current investments | 50/53 | €150,000 | - | -€150,000 | |
| Cash at bank and in hand | 54/58 | €143,119 | €149,648 | +€6,529 | +4.6% |
| Deferred charges and accrued income | 490/1 | €2,675 | - | -€2,675 | |
| Total equity and liabilities | 10/49 | €551,174 | €568,274 | +€17,101 | +3.1% |
| Equity | 10/15 | €381,489 | €409,362 | +€27,873 | +7.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €375,289 | €403,162 | +€27,873 | +7.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €373,429 | €401,302 | +€27,873 | +7.5% |
| Amounts payable | 17/49 | €169,685 | €158,913 | -€10,772 | -6.3% |
| Amounts payable after more than one year | 17 | €139,464 | €123,696 | -€15,768 | -11.3% |
| Financial debts | 170/4 | €139,464 | €123,696 | -€15,768 | -11.3% |
| Amounts payable within one year | 42/48 | €30,221 | €35,217 | +€4,996 | +16.5% |
| Current portion of amounts payable after more than one year | 42 | €15,508 | €15,768 | +€261 | +1.7% |
| Trade debts | 44 | €4,644 | €12,161 | +€7,517 | +162% |
| Suppliers | 440/4 | €4,644 | €12,161 | +€7,517 | +162% |
| Taxes, remuneration and social security | 45 | - | €7,287 | +€7,287 | |
| Taxes | 450/3 | - | €7,287 | +€7,287 | |
| Other amounts payable | 47/48 | €10,069 | - | -€10,069 | |
| Non-recurring operating income | 76A | €122 | - | -€122 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,286 | €24,759 | -€527 | -2.1% |
| Other operating charges | 640/8 | €2,026 | €2,210 | +€184 | +9.1% |
| Gross operating margin | 9900 | €103,187 | €85,649 | -€17,538 | -17.0% |
| Operating profit (loss) | 9901 | €75,875 | €58,679 | -€17,196 | -22.7% |
| Financial income | 75/76B | €4,138 | €2,456 | -€1,682 | -40.6% |
| Recurring financial income | 75 | €4,138 | €2,456 | -€1,682 | -40.6% |
| Financial charges | 65/66B | €3,085 | €22,435 | +€19,350 | +627% |
| Recurring financial charges | 65 | €3,085 | €2,829 | -€256 | -8.3% |
| Non-recurring financial charges | 66B | - | €19,606 | +€19,606 | |
| Profit (loss) for the period before taxes | 9903 | €76,928 | €38,701 | -€38,227 | -49.7% |
| Income taxes | 67/77 | €20,942 | €10,828 | -€10,114 | -48.3% |
| Profit (loss) for the period | 9904 | €55,986 | €27,873 | -€28,113 | -50.2% |
| Profit (loss) for the period to be appropriated | 9905 | €55,986 | €27,873 | -€28,113 | -50.2% |
Next steps
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 4 November 2026 via checked.be.