BAGHLOOR: 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.
BAGHLOOR
Largest movements
- Cash +€4,670
up €4,670 (+70.9%), from €6,588 to €11,258
mainly Net result for the year (+€8,611) and Stocks and contracts (+€4,586)
- Stocks and contracts -€4,586
down €4,586 (-8.5%), from €54,015 to €49,429
- Receivables within one year +€2,544
up €2,544 (+256.7%), from €991 to €3,535
- Reserves +€8,611
up €8,611 (+35.0%), from €24,617 to €33,228
- Trade debts -€3,278
down €3,278 (-29.0%), from €11,300 to €8,022
- Tax, wage and social debts -€2,705
down €2,705 (-38.2%), from €7,077 to €4,372
- Gross operating margin -€6,145
down €6,145 (-22.6%), from €27,190 to €21,045
- Depreciation -€3,085
no longer reported in 2025 (was €3,085)
- Taxes -€1,294
down €1,294 (-32.1%), from €4,036 to €2,742
- Other operating charges +€1,065
up €1,065 (+28.6%), from €3,720 to €4,785
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 | €61,594 | €64,222 | +€2,628 | +4.3% |
| Current assets | 29/58 | €61,594 | €64,222 | +€2,628 | +4.3% |
| Stocks and contracts in progress | 3 | €54,015 | €49,429 | -€4,586 | -8.5% |
| Stocks | 30/36 | €54,015 | €49,429 | -€4,586 | -8.5% |
| Amounts receivable within one year | 40/41 | €991 | €3,535 | +€2,544 | +256.7% |
| Other amounts receivable | 41 | €991 | €3,535 | +€2,544 | +256.7% |
| Cash at bank and in hand | 54/58 | €6,588 | €11,258 | +€4,670 | +70.9% |
| Total equity and liabilities | 10/49 | €61,594 | €64,222 | +€2,628 | +4.3% |
| Equity | 10/15 | €43,217 | €51,828 | +€8,611 | +19.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €24,617 | €33,228 | +€8,611 | +35.0% |
| Distributable reserves | 133 | €24,617 | €33,228 | +€8,611 | +35.0% |
| Amounts payable | 17/49 | €18,377 | €12,394 | -€5,983 | -32.6% |
| Amounts payable within one year | 42/48 | €18,377 | €12,394 | -€5,983 | -32.6% |
| Trade debts | 44 | €11,300 | €8,022 | -€3,278 | -29.0% |
| Suppliers | 440/4 | €11,300 | €8,022 | -€3,278 | -29.0% |
| Taxes, remuneration and social security | 45 | €7,077 | €4,372 | -€2,705 | -38.2% |
| Taxes | 450/3 | €7,077 | €4,372 | -€2,705 | -38.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,085 | - | -€3,085 | |
| Other operating charges | 640/8 | €3,720 | €4,785 | +€1,065 | +28.6% |
| Gross operating margin | 9900 | €27,190 | €21,045 | -€6,145 | -22.6% |
| Operating profit (loss) | 9901 | €20,385 | €16,259 | -€4,125 | -20.2% |
| Financial income | 75/76B | €2 | €2 | +€1 | +43.5% |
| Recurring financial income | 75 | €2 | €2 | +€1 | +43.5% |
| Financial charges | 65/66B | €4,836 | €4,909 | +€73 | +1.5% |
| Recurring financial charges | 65 | €4,836 | €4,909 | +€73 | +1.5% |
| Profit (loss) for the period before taxes | 9903 | €15,550 | €11,353 | -€4,197 | -27.0% |
| Income taxes | 67/77 | €4,036 | €2,742 | -€1,294 | -32.1% |
| Profit (loss) for the period | 9904 | €11,514 | €8,611 | -€2,903 | -25.2% |
| Profit (loss) for the period to be appropriated | 9905 | €11,514 | €8,611 | -€2,903 | -25.2% |
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 10 October 2026 via checked.be.