Baggio: 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.
Baggio
Largest movements
- Receivables within one year -€444,459
down €444,459 (-55.7%), from €797,770 to €353,311
of which Trade receivables: -€503,192
- Cash +€68,935
up €68,935 (+9.2%), from €748,665 to €817,600
mainly Receivables within one year (+€444,459) and Other debts (+€63,378)
- Current investments +€27,756
up €27,756 (+32.3%), from €85,877 to €113,633
- Trade debts -€459,273
down €459,273 (-80.0%), from €573,774 to €114,501
- Other debts +€63,378
up €63,378 (+47.5%), from €133,312 to €196,690
- Reserves +€57,110
up €57,110 (+12.6%), from €454,389 to €511,499
of which Distributable reserves: +€57,110
- Financial income -€452,610
down €452,610 (-99.9%), from €453,009 to €399
of which Non-recurring financial income: -€450,000
- Staff costs -€171,724
down €171,724 (-100.0%), from €171,724 to €0
- Gross operating margin -€160,748
down €160,748 (-62.4%), from €257,696 to €96,948
- Taxes -€96,615
down €96,615 (-77.9%), from €123,955 to €27,340
- Other operating charges -€14,646
down €14,646 (-88.5%), from €16,557 to €1,912
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 | €1,634,749 | €1,299,259 | -€335,491 | -20.5% |
| Fixed assets | 21/28 | €0 | €14,196 | +€14,196 | |
| Tangible fixed assets | 22/27 | €0 | €14,196 | +€14,196 | |
| Plant, machinery and equipment | 23 | €0 | €1,298 | +€1,298 | |
| Furniture and vehicles | 24 | €0 | €12,897 | +€12,897 | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €1,634,749 | €1,285,063 | -€349,686 | -21.4% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €797,770 | €353,311 | -€444,459 | -55.7% |
| Trade receivables | 40 | €779,160 | €275,968 | -€503,192 | -64.6% |
| Other amounts receivable | 41 | €18,610 | €77,343 | +€58,733 | +315.6% |
| Current investments | 50/53 | €85,877 | €113,633 | +€27,756 | +32.3% |
| Cash at bank and in hand | 54/58 | €748,665 | €817,600 | +€68,935 | +9.2% |
| Deferred charges and accrued income | 490/1 | €2,437 | €519 | -€1,918 | -78.7% |
| Total equity and liabilities | 10/49 | €1,634,749 | €1,299,259 | -€335,491 | -20.5% |
| Equity | 10/15 | €902,568 | €959,678 | +€57,110 | +6.3% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €454,389 | €511,499 | +€57,110 | +12.6% |
| Non-distributable reserves | 130/1 | €14,100 | €14,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €14,100 | €14,100 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,764 | €4,764 | = | 0.0% |
| Distributable reserves | 133 | €435,525 | €492,635 | +€57,110 | +13.1% |
| Profit (loss) carried forward | 14 | €388,179 | €388,179 | = | 0.0% |
| Investment grants | 15 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €1,586 | €1,586 | = | 0.0% |
| Deferred taxes | 168 | €1,586 | €1,586 | = | 0.0% |
| Amounts payable | 17/49 | €730,595 | €337,994 | -€392,601 | -53.7% |
| Amounts payable after more than one year | 17 | €11,558 | €4,664 | -€6,894 | -59.6% |
| Financial debts | 170/4 | €11,558 | €4,664 | -€6,894 | -59.6% |
| Amounts payable within one year | 42/48 | €719,037 | €333,330 | -€385,707 | -53.6% |
| Current portion of amounts payable after more than one year | 42 | €6,773 | €6,894 | +€121 | +1.8% |
| Trade debts | 44 | €573,774 | €114,501 | -€459,273 | -80.0% |
| Suppliers | 440/4 | €573,774 | €114,501 | -€459,273 | -80.0% |
| Taxes, remuneration and social security | 45 | €5,178 | €15,246 | +€10,067 | +194.4% |
| Taxes | 450/3 | €2,749 | €15,246 | +€12,497 | +454.6% |
| Remuneration and social security | 454/9 | €2,430 | €0 | -€2,430 | -100.0% |
| Other amounts payable | 47/48 | €133,312 | €196,690 | +€63,378 | +47.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €171,724 | €0 | -€171,724 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | €281 | +€281 | |
| Other operating charges | 640/8 | €16,557 | €1,912 | -€14,646 | -88.5% |
| Gross operating margin | 9900 | €257,696 | €96,948 | -€160,748 | -62.4% |
| Operating profit (loss) | 9901 | €69,415 | €94,755 | +€25,340 | +36.5% |
| Financial income | 75/76B | €453,009 | €399 | -€452,610 | -99.9% |
| Recurring financial income | 75 | €3,009 | €399 | -€2,610 | -86.7% |
| Non-recurring financial income | 76B | €450,000 | €0 | -€450,000 | -100.0% |
| Financial charges | 65/66B | €11,050 | €10,704 | -€346 | -3.1% |
| Recurring financial charges | 65 | €11,050 | €10,704 | -€346 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | €511,374 | €84,450 | -€426,924 | -83.5% |
| Income taxes | 67/77 | €123,955 | €27,340 | -€96,615 | -77.9% |
| Profit (loss) for the period | 9904 | €387,418 | €57,110 | -€330,308 | -85.3% |
| Profit (loss) for the period to be appropriated | 9905 | €387,418 | €57,110 | -€330,308 | -85.3% |
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 2 October 2026 via checked.be.