BAGHE CONSTRUCT: 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.
BAGHE CONSTRUCT
Largest movements
- Receivables within one year -€46,443
down €46,443 (-36.5%), from €127,371 to €80,929
of which Trade receivables: -€50,940
- Cash +€22,266
up €22,266 (+82.2%), from €27,092 to €49,358
mainly Receivables within one year (+€46,443) and Net result for the year (+€8,382)
- Trade debts -€15,566
down €15,566 (-42.7%), from €36,426 to €20,860
- Tax, wage and social debts -€12,206
down €12,206 (-43.5%), from €28,037 to €15,831
of which Remuneration and social security: -€10,955
- Profit (loss) carried forward +€8,382
up €8,382 (+11.0%), from €76,104 to €84,486
- Other debts -€5,318
down €5,318 (-62.6%), from €8,497 to €3,179
- Turnover -€30,457
down €30,457 (-7.5%), from €404,343 to €373,886
- Purchases and services -€27,161
down €27,161 (-7.0%), from €387,222 to €360,061
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.
Cash bridge derived
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 | €157,125 | €132,416 | -€24,709 | -15.7% |
| Fixed assets | 21/28 | €2,403 | €883 | -€1,520 | -63.2% |
| Tangible fixed assets | 22/27 | €2,081 | €561 | -€1,520 | -73.0% |
| Furniture and vehicles | 24 | €2,081 | €561 | -€1,520 | -73.0% |
| Financial fixed assets | 28 | €322 | €322 | = | 0.0% |
| Current assets | 29/58 | €154,721 | €131,532 | -€23,189 | -15.0% |
| Amounts receivable within one year | 40/41 | €127,371 | €80,929 | -€46,443 | -36.5% |
| Trade receivables | 40 | €127,371 | €76,431 | -€50,940 | -40.0% |
| Other amounts receivable | 41 | - | €4,497 | +€4,497 | |
| Cash at bank and in hand | 54/58 | €27,092 | €49,358 | +€22,266 | +82.2% |
| Deferred charges and accrued income | 490/1 | €258 | €1,246 | +€988 | +383.7% |
| Total equity and liabilities | 10/49 | €157,125 | €132,416 | -€24,709 | -15.7% |
| Equity | 10/15 | €84,164 | €92,546 | +€8,382 | +10.0% |
| Contributions | 10/11 | €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 | €76,104 | €84,486 | +€8,382 | +11.0% |
| Amounts payable | 17/49 | €72,960 | €39,870 | -€33,090 | -45.4% |
| Amounts payable within one year | 42/48 | €72,960 | €39,870 | -€33,090 | -45.4% |
| Trade debts | 44 | €36,426 | €20,860 | -€15,566 | -42.7% |
| Suppliers | 440/4 | €36,426 | €20,860 | -€15,566 | -42.7% |
| Taxes, remuneration and social security | 45 | €28,037 | €15,831 | -€12,206 | -43.5% |
| Taxes | 450/3 | €3,773 | €2,522 | -€1,251 | -33.2% |
| Remuneration and social security | 454/9 | €24,264 | €13,309 | -€10,955 | -45.1% |
| Other amounts payable | 47/48 | €8,497 | €3,179 | -€5,318 | -62.6% |
| Turnover | 70 | €404,343 | €373,886 | -€30,457 | -7.5% |
| Non-recurring operating income | 76A | €23 | €6,925 | +€6,903 | +30261.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €387,222 | €360,061 | -€27,161 | -7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,301 | €1,520 | -€2,781 | -64.7% |
| Other operating charges | 640/8 | - | €563 | +€563 | |
| Gross operating margin | 9900 | €17,121 | €13,825 | -€3,296 | -19.2% |
| Operating profit (loss) | 9901 | €12,819 | €11,742 | -€1,078 | -8.4% |
| Financial income | 75/76B | €4 | €0 | -€4 | -99.7% |
| Recurring financial income | 75 | €4 | €0 | -€4 | -99.7% |
| Financial charges | 65/66B | €516 | €839 | +€322 | +62.4% |
| Recurring financial charges | 65 | €516 | €839 | +€322 | +62.4% |
| Profit (loss) for the period before taxes | 9903 | €12,307 | €10,903 | -€1,403 | -11.4% |
| Income taxes | 67/77 | €2,628 | €2,522 | -€106 | -4.0% |
| Profit (loss) for the period | 9904 | €9,679 | €8,382 | -€1,298 | -13.4% |
| Profit (loss) for the period to be appropriated | 9905 | €9,679 | €8,382 | -€1,298 | -13.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.