Baeyens Management: 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.
What changed
Baeyens Management
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€305,092
2024 · €260,115+€44,978
Equity
€2.4m
2024 · €2.3m+€138,038
Cash
€89,133
2024 · €100,614-€11,481
Balance sheet total
€3.2m
2024 · €3.2m+€21,809
Largest movements
Assets
- Receivables within one year +€183,469
up €183,469 (+24.7%), from €744,216 to €927,685
of which Other amounts receivable: +€194,521
- Deferred charges and accrued income -€96,592
down €96,592 (-84.1%), from €114,798 to €18,205
- Tangible fixed assets -€73,587
down €73,587 (-5.6%), from €1.3m to €1.2m
of which Land and buildings: -€72,085
Equity and liabilities
- Reserves +€138,038
up €138,038 (+6.1%), from €2.2m to €2.4m
of which Distributable reserves: +€138,038
- Debts after one year -€78,857
down €78,857 (-10.5%), from €753,942 to €675,085
Income statement
- Gross operating margin +€46,926
up €46,926 (+16.0%), from €294,201 to €341,127
- Taxes +€18,608
up €18,608 (+23.5%), from €79,025 to €97,633
- Financial income +€14,579
up €14,579 (+9.4%), from €154,872 to €169,451
of which Financial income: +€14,613
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.
Result 2024
€260,115
Gross operating margin
+€46,926
Depreciation
-€950
Other operating charges
+€290
Financial income
+€14,579
Financial charges
+€2,740
Taxes
-€18,608
Result 2025
€305,092
raises the resultlowers the result
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.
From operations
+€285,746
Investment
-€24,866
Financing
-€272,361
Cash 2024
€100,614
From operations (derived)
+€285,746
Net result for the year
+€305,092
Depreciation
+€78,453
Receivables within one year
-€183,469
Deferred charges and accrued income
+€96,592
Trade debts
-€1,577
Tax, wage and social debts
+€18,881
Advances received
-€1,468
Other debts
-€26,761
Accrued charges and deferred income
+€1
Investment (derived)
-€24,866
Investment in fixed assets (net)
-€4,866
Current investments
-€20,000
Financing
-€272,361
Debts after one year
-€78,857
Current portion of long-term debt
-€13,286
Short-term financial debts
-€13,164
Contributions, distributions and other
-€167,055
Cash 2025
€89,133
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,224,415 | €3,246,223 | +€21,809 | +0.7% |
| Fixed assets | 21/28 | €1,987,787 | €1,914,200 | -€73,587 | -3.7% |
| Tangible fixed assets | 22/27 | €1,320,327 | €1,246,740 | -€73,587 | -5.6% |
| Land and buildings | 22 | €1,305,540 | €1,233,454 | -€72,085 | -5.5% |
| Plant, machinery and equipment | 23 | €12,692 | €8,704 | -€3,988 | -31.4% |
| Furniture and vehicles | 24 | €2,096 | €1,949 | -€148 | -7.0% |
| Other tangible fixed assets | 26 | - | €2,634 | +€2,634 | |
| Financial fixed assets | 28 | €667,460 | €667,460 | = | 0.0% |
| Current assets | 29/58 | €1,236,628 | €1,332,023 | +€95,395 | +7.7% |
| Amounts receivable after more than one year | 29 | €255,000 | €255,000 | = | 0.0% |
| Other amounts receivable | 291 | €255,000 | €255,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €744,216 | €927,685 | +€183,469 | +24.7% |
| Trade receivables | 40 | €23,071 | €12,018 | -€11,053 | -47.9% |
| Other amounts receivable | 41 | €721,146 | €915,667 | +€194,521 | +27.0% |
| Current investments | 50/53 | €22,000 | €42,000 | +€20,000 | +90.9% |
| Cash at bank and in hand | 54/58 | €100,614 | €89,133 | -€11,481 | -11.4% |
| Deferred charges and accrued income | 490/1 | €114,798 | €18,205 | -€96,592 | -84.1% |
| Total equity and liabilities | 10/49 | €3,224,415 | €3,246,223 | +€21,809 | +0.7% |
| Equity | 10/15 | €2,264,753 | €2,402,791 | +€138,038 | +6.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,246,153 | €2,384,191 | +€138,038 | +6.1% |
| Tax-exempt reserves | 132 | €841,342 | €841,342 | = | 0.0% |
| Distributable reserves | 133 | €1,404,812 | €1,542,849 | +€138,038 | +9.8% |
| Amounts payable | 17/49 | €959,662 | €843,433 | -€116,229 | -12.1% |
| Amounts payable after more than one year | 17 | €753,942 | €675,085 | -€78,857 | -10.5% |
| Financial debts | 170/4 | €753,942 | €675,085 | -€78,857 | -10.5% |
| Amounts payable within one year | 42/48 | €205,674 | €168,301 | -€37,373 | -18.2% |
| Current portion of amounts payable after more than one year | 42 | €90,489 | €77,203 | -€13,286 | -14.7% |
| Financial debts | 43 | €33,333 | €20,170 | -€13,164 | -39.5% |
| Other loans | 439 | €33,333 | €20,170 | -€13,164 | -39.5% |
| Trade debts | 44 | €1,712 | €135 | -€1,577 | -92.1% |
| Suppliers | 440/4 | €1,712 | €135 | -€1,577 | -92.1% |
| Advances received on contracts in progress | 46 | €21,706 | €20,238 | -€1,468 | -6.8% |
| Taxes, remuneration and social security | 45 | €31,673 | €50,554 | +€18,881 | +59.6% |
| Taxes | 450/3 | €27,073 | €45,954 | +€18,881 | +69.7% |
| Remuneration and social security | 454/9 | €4,600 | €4,600 | = | 0.0% |
| Other amounts payable | 47/48 | €26,761 | - | -€26,761 | |
| Accrued charges and deferred income | 492/3 | €46 | €47 | +€1 | +2.0% |
| Non-recurring operating income | 76A | €19,946 | - | -€19,946 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,503 | €78,453 | +€950 | +1.2% |
| Other operating charges | 640/8 | €12,619 | €12,329 | -€290 | -2.3% |
| Gross operating margin | 9900 | €294,201 | €341,127 | +€46,926 | +16.0% |
| Operating profit (loss) | 9901 | €204,078 | €250,345 | +€46,267 | +22.7% |
| Financial income | 75/76B | €154,872 | €169,451 | +€14,579 | +9.4% |
| Recurring financial income | 75 | €154,817 | €169,430 | +€14,613 | +9.4% |
| Non-recurring financial income | 76B | €55 | €21 | -€34 | -61.6% |
| Financial charges | 65/66B | €19,811 | €17,071 | -€2,740 | -13.8% |
| Recurring financial charges | 65 | €19,811 | €17,071 | -€2,740 | -13.8% |
| Profit (loss) for the period before taxes | 9903 | €339,139 | €402,725 | +€63,586 | +18.7% |
| Income taxes | 67/77 | €79,025 | €97,633 | +€18,608 | +23.5% |
| Profit (loss) for the period | 9904 | €260,115 | €305,092 | +€44,978 | +17.3% |
| Profit (loss) for the period to be appropriated | 9905 | €260,115 | €305,092 | +€44,978 | +17.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.