BAGELEC: 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.
BAGELEC
Largest movements
- Receivables within one year -€103,568
down €103,568 (-43.1%), from €240,110 to €136,542
of which Trade receivables: -€115,661
- Tangible fixed assets +€42,930
up €42,930 (+720.9%), from €5,955 to €48,885
of which Furniture and vehicles: +€42,982
- Cash +€34,508
up €34,508 (+521.0%), from €6,623 to €41,131
mainly Receivables within one year (+€103,568) and Deferred charges and accrued income (+€24,718)
- Deferred charges and accrued income -€24,718
down €24,718 (-97.2%), from €25,424 to €706
- Accrued charges and deferred income -€87,398
down €87,398 (-65.8%), from €132,740 to €45,341
- Other debts -€28,609
down €28,609 (-90.5%), from €31,597 to €2,988
- Trade debts +€23,459
up €23,459 (+155.8%), from €15,060 to €38,519
- Debts after one year +€19,222
new in 2024: €19,222
- Tax, wage and social debts +€17,080
up €17,080 (+35.1%), from €48,689 to €65,769
of which Remuneration and social security: +€20,043
- Gross operating margin +€85,062
up €85,062 (+35.0%), from €242,857 to €327,919
- Staff costs +€75,376
up €75,376 (+33.8%), from €222,793 to €298,169
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.
Cash bridge derived
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 | €306,832 | €253,983 | -€52,849 | -17.2% |
| Fixed assets | 21/28 | €13,841 | €54,770 | +€40,930 | +295.7% |
| Intangible fixed assets | 21 | €5,000 | €3,000 | -€2,000 | -40.0% |
| Tangible fixed assets | 22/27 | €5,955 | €48,885 | +€42,930 | +720.9% |
| Plant, machinery and equipment | 23 | €52 | - | -€52 | |
| Furniture and vehicles | 24 | €5,903 | €48,885 | +€42,982 | +728.2% |
| Financial fixed assets | 28 | €2,886 | €2,886 | = | 0.0% |
| Current assets | 29/58 | €292,991 | €199,213 | -€93,778 | -32.0% |
| Stocks and contracts in progress | 3 | €20,834 | €20,834 | = | 0.0% |
| Stocks | 30/36 | €20,834 | €20,834 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €240,110 | €136,542 | -€103,568 | -43.1% |
| Trade receivables | 40 | €240,041 | €124,380 | -€115,661 | -48.2% |
| Other amounts receivable | 41 | €70 | €12,162 | +€12,093 | +17359.4% |
| Cash at bank and in hand | 54/58 | €6,623 | €41,131 | +€34,508 | +521.0% |
| Deferred charges and accrued income | 490/1 | €25,424 | €706 | -€24,718 | -97.2% |
| Total equity and liabilities | 10/49 | €306,832 | €253,983 | -€52,849 | -17.2% |
| Equity | 10/15 | €1,036 | €2,144 | +€1,108 | +106.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,024 | -€5,916 | +€1,108 | +15.8% |
| Amounts payable | 17/49 | €305,796 | €251,839 | -€53,957 | -17.6% |
| Amounts payable after more than one year | 17 | - | €19,222 | +€19,222 | |
| Financial debts | 170/4 | - | €19,222 | +€19,222 | |
| Amounts payable within one year | 42/48 | €173,056 | €187,276 | +€14,219 | +8.2% |
| Current portion of amounts payable after more than one year | 42 | €77,711 | €77,337 | -€374 | -0.5% |
| Financial debts | 43 | - | €2,663 | +€2,663 | |
| Credit institutions | 430/8 | - | €2,663 | +€2,663 | |
| Trade debts | 44 | €15,060 | €38,519 | +€23,459 | +155.8% |
| Suppliers | 440/4 | €15,060 | €38,519 | +€23,459 | +155.8% |
| Taxes, remuneration and social security | 45 | €48,689 | €65,769 | +€17,080 | +35.1% |
| Taxes | 450/3 | €20,232 | €17,269 | -€2,963 | -14.6% |
| Remuneration and social security | 454/9 | €28,457 | €48,500 | +€20,043 | +70.4% |
| Other amounts payable | 47/48 | €31,597 | €2,988 | -€28,609 | -90.5% |
| Accrued charges and deferred income | 492/3 | €132,740 | €45,341 | -€87,398 | -65.8% |
| Non-recurring operating income | 76A | - | €396 | +€396 | |
| Remuneration, social security and pensions | 62 | €222,793 | €298,169 | +€75,376 | +33.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,898 | €10,960 | +€3,061 | +38.8% |
| Other operating charges | 640/8 | €1,592 | €2,935 | +€1,343 | +84.4% |
| Gross operating margin | 9900 | €242,857 | €327,919 | +€85,062 | +35.0% |
| Operating profit (loss) | 9901 | €10,574 | €15,856 | +€5,281 | +49.9% |
| Financial income | 75/76B | €12 | €86 | +€75 | +644.6% |
| Recurring financial income | 75 | €12 | €86 | +€75 | +644.6% |
| Financial charges | 65/66B | €6,176 | €9,307 | +€3,130 | +50.7% |
| Recurring financial charges | 65 | €6,176 | €9,307 | +€3,130 | +50.7% |
| Profit (loss) for the period before taxes | 9903 | €4,410 | €6,635 | +€2,225 | +50.5% |
| Income taxes | 67/77 | €3,422 | €5,527 | +€2,105 | +61.5% |
| Profit (loss) for the period | 9904 | €988 | €1,108 | +€120 | +12.1% |
| Profit (loss) for the period to be appropriated | 9905 | €988 | €1,108 | +€120 | +12.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.