BAGETEL: 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.
BAGETEL
Largest movements
- Intangible fixed assets -€14,868
down €14,868 (-11.1%), from €133,811 to €118,943
- Deferred charges and accrued income +€2,720
up €2,720 (+168%), from €1,616 to €4,336
- Tangible fixed assets +€2,072
up €2,072 (+5.4%), from €38,239 to €40,311
of which Plant, machinery and equipment: +€5,158
- Debts after one year -€6,574
down €6,574 (-22.3%), from €29,420 to €22,845
- Current portion of long-term debt -€5,135
down €5,135 (-21.7%), from €23,672 to €18,536
- Trade debts -€2,942
down €2,942 (-22.0%), from €13,351 to €10,408
- Reserves +€2,544
up €2,544 (+66.5%), from €3,826 to €6,369
- Tax, wage and social debts +€2,001
up €2,001 (+26.7%), from €7,490 to €9,491
of which Remuneration and social security: +€1,382
- Staff costs -€8,581
down €8,581 (-22.8%), from €37,630 to €29,049
- Depreciation +€2,092
up €2,092 (+7.5%), from €27,757 to €29,849
- Financial charges +€1,868
up €1,868 (+22.7%), from €8,231 to €10,098
- Taxes +€1,209
up €1,209 (+37.5%), from €3,224 to €4,434
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €188,036 | €180,434 | -€7,602 | -4.0% |
| Fixed assets | 21/28 | €172,050 | €159,288 | -€12,761 | -7.4% |
| Intangible fixed assets | 21 | €133,811 | €118,943 | -€14,868 | -11.1% |
| Tangible fixed assets | 22/27 | €38,239 | €40,311 | +€2,072 | +5.4% |
| Land and buildings | 22 | - | €2,331 | +€2,331 | |
| Plant, machinery and equipment | 23 | €16,678 | €21,836 | +€5,158 | +30.9% |
| Furniture and vehicles | 24 | €4,956 | €4,593 | -€363 | -7.3% |
| Leasing and similar rights | 25 | €16,605 | €11,552 | -€5,054 | -30.4% |
| Financial fixed assets | 28 | - | €35 | +€35 | |
| Current assets | 29/58 | €15,987 | €21,146 | +€5,159 | +32.3% |
| Stocks and contracts in progress | 3 | €3,768 | €3,705 | -€63 | -1.7% |
| Stocks | 30/36 | €3,768 | €3,705 | -€63 | -1.7% |
| Amounts receivable within one year | 40/41 | €10,198 | €11,157 | +€959 | +9.4% |
| Trade receivables | 40 | €10,114 | €10,611 | +€497 | +4.9% |
| Other amounts receivable | 41 | €84 | €546 | +€462 | +552% |
| Cash at bank and in hand | 54/58 | €405 | €1,948 | +€1,544 | +381% |
| Deferred charges and accrued income | 490/1 | €1,616 | €4,336 | +€2,720 | +168% |
| Total equity and liabilities | 10/49 | €188,036 | €180,434 | -€7,602 | -4.0% |
| Equity | 10/15 | €4,826 | €7,369 | +€2,544 | +52.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €3,826 | €6,369 | +€2,544 | +66.5% |
| Distributable reserves | 133 | €3,826 | €6,369 | +€2,544 | +66.5% |
| Amounts payable | 17/49 | €183,211 | €173,065 | -€10,146 | -5.5% |
| Amounts payable after more than one year | 17 | €29,420 | €22,845 | -€6,574 | -22.3% |
| Financial debts | 170/4 | €29,420 | €22,845 | -€6,574 | -22.3% |
| Amounts payable within one year | 42/48 | €153,558 | €149,098 | -€4,460 | -2.9% |
| Current portion of amounts payable after more than one year | 42 | €23,672 | €18,536 | -€5,135 | -21.7% |
| Trade debts | 44 | €13,351 | €10,408 | -€2,942 | -22.0% |
| Suppliers | 440/4 | €13,351 | €10,408 | -€2,942 | -22.0% |
| Taxes, remuneration and social security | 45 | €7,490 | €9,491 | +€2,001 | +26.7% |
| Taxes | 450/3 | €1,971 | €2,590 | +€619 | +31.4% |
| Remuneration and social security | 454/9 | €5,519 | €6,901 | +€1,382 | +25.0% |
| Other amounts payable | 47/48 | €109,045 | €110,662 | +€1,617 | +1.5% |
| Accrued charges and deferred income | 492/3 | €234 | €1,122 | +€889 | +380% |
| Remuneration, social security and pensions | 62 | €37,630 | €29,049 | -€8,581 | -22.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,757 | €29,849 | +€2,092 | +7.5% |
| Other operating charges | 640/8 | €2,268 | €1,851 | -€416 | -18.4% |
| Gross operating margin | 9900 | €77,752 | €77,756 | +€4 | 0.0% |
| Operating profit (loss) | 9901 | €10,098 | €17,007 | +€6,909 | +68.4% |
| Financial income | 75/76B | €11 | €69 | +€58 | +544% |
| Recurring financial income | 75 | €11 | €69 | +€58 | +544% |
| Financial charges | 65/66B | €8,231 | €10,098 | +€1,868 | +22.7% |
| Recurring financial charges | 65 | €8,231 | €10,098 | +€1,868 | +22.7% |
| Profit (loss) for the period before taxes | 9903 | €1,878 | €6,977 | +€5,099 | +272% |
| Income taxes | 67/77 | €3,224 | €4,434 | +€1,209 | +37.5% |
| Profit (loss) for the period | 9904 | -€1,346 | €2,544 | +€3,890 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,346 | €2,544 | +€3,890 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.