BAF MANAGEMENT ADVISORS: 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.
BAF MANAGEMENT ADVISORS
Largest movements
- Cash +€29,800
up €29,800 (+501,685%), from €6 to €29,806
mainly Net result for the year (+€44,208) and Trade debts (+€25,770)
- Receivables within one year +€17,849
up €17,849 (+15.2%), from €117,723 to €135,572
of which Trade receivables: +€30,610
- Profit (loss) carried forward +€44,208
up €44,208 (+13,075%), from €338 to €44,546
- Trade debts +€25,770
up €25,770 (+95.6%), from €26,968 to €52,738
- Other debts -€25,735
down €25,735 (-29.3%), from €87,885 to €62,150
- Tax, wage and social debts +€3,407
up €3,407 (+222%), from €1,537 to €4,944
- Turnover -€122,890
no longer reported in 2024 (was €122,890)
- Purchases and services -€110,672
no longer reported in 2024 (was €110,672)
- Gross operating margin +€110,467
up €110,467 (+534%), from €20,668 to €131,135
- Staff costs +€58,796
up €58,796 (+320%), from €18,374 to €77,170
- Taxes +€8,106
up €8,106 (+966%), from €839 to €8,945
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €117,729 | €165,378 | +€47,649 | +40.5% |
| Current assets | 29/58 | €117,729 | €165,378 | +€47,649 | +40.5% |
| Amounts receivable within one year | 40/41 | €117,723 | €135,572 | +€17,849 | +15.2% |
| Trade receivables | 40 | €77,650 | €108,260 | +€30,610 | +39.4% |
| Other amounts receivable | 41 | €40,073 | €27,312 | -€12,761 | -31.8% |
| Cash at bank and in hand | 54/58 | €6 | €29,806 | +€29,800 | +501,685% |
| Total equity and liabilities | 10/49 | €117,729 | €165,378 | +€47,649 | +40.5% |
| Equity | 10/15 | €1,338 | €45,546 | +€44,208 | +3,304% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €338 | €44,546 | +€44,208 | +13,075% |
| Amounts payable | 17/49 | €116,391 | €119,832 | +€3,442 | +3.0% |
| Amounts payable within one year | 42/48 | €116,391 | €119,832 | +€3,442 | +3.0% |
| Trade debts | 44 | €26,968 | €52,738 | +€25,770 | +95.6% |
| Suppliers | 440/4 | €26,968 | €52,738 | +€25,770 | +95.6% |
| Taxes, remuneration and social security | 45 | €1,537 | €4,944 | +€3,407 | +222% |
| Taxes | 450/3 | €1,537 | €4,944 | +€3,407 | +222% |
| Other amounts payable | 47/48 | €87,885 | €62,150 | -€25,735 | -29.3% |
| Turnover | 70 | €122,890 | - | -€122,890 | |
| Non-recurring operating income | 76A | €8,450 | - | -€8,450 | |
| Goods, raw materials, services and sundry goods | 60/61 | €110,672 | - | -€110,672 | |
| Remuneration, social security and pensions | 62 | €18,374 | €77,170 | +€58,796 | +320% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,098 | - | -€1,098 | |
| Gross operating margin | 9900 | €20,668 | €131,135 | +€110,467 | +534% |
| Operating profit (loss) | 9901 | €1,197 | €53,965 | +€52,768 | +4,408% |
| Financial charges | 65/66B | €20 | €812 | +€792 | +3,960% |
| Recurring financial charges | 65 | €20 | €812 | +€792 | +3,960% |
| Profit (loss) for the period before taxes | 9903 | €1,177 | €53,153 | +€51,976 | +4,415% |
| Income taxes | 67/77 | €839 | €8,945 | +€8,106 | +966% |
| Profit (loss) for the period | 9904 | €338 | €44,208 | +€43,870 | +12,975% |
| Profit (loss) for the period to be appropriated | 9905 | €338 | €44,208 | +€43,870 | +12,975% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.