Baguet: 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.
Baguet
Largest movements
- Cash +€3,955
up €3,955 (+46.0%), from €8,591 to €12,546
mainly Net result for the year (+€4,791) and Depreciation (+€2,664)
- Tangible fixed assets -€2,664
down €2,664 (-12.6%), from €21,159 to €18,495
- Profit (loss) carried forward +€4,791
up €4,791 (+2.8%), from -€170,502 to -€165,711
- Other debts -€3,500
down €3,500 (-24.5%), from €14,277 to €10,777
- Gross operating margin +€16,499
up €16,499, from -€5,990 to €10,509
- Financial income -€7,494
down €7,494 (-99.6%), from €7,521 to €27
- Depreciation -€613
down €613 (-18.7%), from €3,277 to €2,664
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 | €29,751 | €31,042 | +€1,291 | +4.3% |
| Fixed assets | 21/28 | €21,159 | €18,495 | -€2,664 | -12.6% |
| Tangible fixed assets | 22/27 | €21,159 | €18,495 | -€2,664 | -12.6% |
| Land and buildings | 22 | €21,159 | €18,495 | -€2,664 | -12.6% |
| Current assets | 29/58 | €8,591 | €12,546 | +€3,955 | +46.0% |
| Cash at bank and in hand | 54/58 | €8,591 | €12,546 | +€3,955 | +46.0% |
| Total equity and liabilities | 10/49 | €29,751 | €31,042 | +€1,291 | +4.3% |
| Equity | 10/15 | €10,974 | €15,765 | +€4,791 | +43.7% |
| Contributions | 10/11 | €128,285 | €128,285 | = | 0.0% |
| Capital | 10 | €128,285 | €128,285 | = | 0.0% |
| Issued capital | 100 | €128,285 | €128,285 | = | 0.0% |
| Reserves | 13 | €53,191 | €53,191 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,828 | €12,828 | = | 0.0% |
| Legal reserve | 130 | €12,828 | €12,828 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,178 | €3,178 | = | 0.0% |
| Distributable reserves | 133 | €37,184 | €37,184 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€170,502 | -€165,711 | +€4,791 | +2.8% |
| Amounts payable | 17/49 | €18,777 | €15,277 | -€3,500 | -18.6% |
| Amounts payable after more than one year | 17 | €4,500 | €4,500 | = | 0.0% |
| Other amounts payable | 178/9 | €4,500 | €4,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €14,277 | €10,777 | -€3,500 | -24.5% |
| Other amounts payable | 47/48 | €14,277 | €10,777 | -€3,500 | -24.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,277 | €2,664 | -€613 | -18.7% |
| Other operating charges | 640/8 | €2,818 | €2,919 | +€101 | +3.6% |
| Gross operating margin | 9900 | -€5,990 | €10,509 | +€16,499 | |
| Operating profit (loss) | 9901 | -€12,085 | €4,926 | +€17,011 | |
| Financial income | 75/76B | €7,521 | €27 | -€7,494 | -99.6% |
| Recurring financial income | 75 | €7,521 | €27 | -€7,494 | -99.6% |
| Financial charges | 65/66B | €154 | €154 | -€0 | -0.1% |
| Recurring financial charges | 65 | €154 | €154 | -€0 | -0.1% |
| Profit (loss) for the period before taxes | 9903 | -€4,718 | €4,799 | +€9,517 | |
| Income taxes | 67/77 | €6 | €8 | +€2 | +31.2% |
| Profit (loss) for the period | 9904 | -€4,724 | €4,791 | +€9,515 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,724 | €4,791 | +€9,515 |
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 30 September 2026 via checked.be.