BAGUETTA: 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.
BAGUETTA
Largest movements
- Tangible fixed assets -€10,283
down €10,283 (-7.5%), from €137,369 to €127,086
of which Land and buildings: -€10,258
- Cash +€6,337
up €6,337 (+31.4%), from €20,185 to €26,522
mainly Depreciation (+€10,283) and Tax, wage and social debts (+€1,390)
- Receivables within one year +€4,501
up €4,501 (+33.5%), from €13,428 to €17,928
of which Trade receivables: +€4,523
- Reserves -€2,721
down €2,721 (-24.3%), from €11,187 to €8,466
of which Distributable reserves: -€2,721
- Other operating charges -€1,795
down €1,795 (-65.6%), from €2,734 to €939
- Gross operating margin -€614
down €614 (-6.5%), from €9,478 to €8,863
- Financial charges -€183
down €183 (-33.6%), from €546 to €362
- Financial income -€123
no longer reported in 2025 (was €123)
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 | €170,982 | €171,537 | +€555 | +0.3% |
| Fixed assets | 21/28 | €137,369 | €127,086 | -€10,283 | -7.5% |
| Tangible fixed assets | 22/27 | €137,369 | €127,086 | -€10,283 | -7.5% |
| Land and buildings | 22 | €136,932 | €126,674 | -€10,258 | -7.5% |
| Plant, machinery and equipment | 23 | €437 | €412 | -€25 | -5.7% |
| Current assets | 29/58 | €33,613 | €44,450 | +€10,838 | +32.2% |
| Amounts receivable within one year | 40/41 | €13,428 | €17,928 | +€4,501 | +33.5% |
| Trade receivables | 40 | €2,293 | €6,816 | +€4,523 | +197.3% |
| Other amounts receivable | 41 | €11,135 | €11,112 | -€22 | -0.2% |
| Cash at bank and in hand | 54/58 | €20,185 | €26,522 | +€6,337 | +31.4% |
| Total equity and liabilities | 10/49 | €170,982 | €171,537 | +€555 | +0.3% |
| Equity | 10/15 | €48,387 | €45,666 | -€2,721 | -5.6% |
| Contributions | 10/11 | €37,200 | €37,200 | = | 0.0% |
| Reserves | 13 | €11,187 | €8,466 | -€2,721 | -24.3% |
| Tax-exempt reserves | 132 | €2,736 | €2,736 | = | 0.0% |
| Distributable reserves | 133 | €8,451 | €5,730 | -€2,721 | -32.2% |
| Amounts payable | 17/49 | €122,595 | €125,871 | +€3,276 | +2.7% |
| Amounts payable within one year | 42/48 | €122,595 | €125,871 | +€3,276 | +2.7% |
| Trade debts | 44 | €1,098 | €1,721 | +€622 | +56.6% |
| Suppliers | 440/4 | €1,098 | €1,721 | +€622 | +56.6% |
| Taxes, remuneration and social security | 45 | €509 | €1,899 | +€1,390 | +273.0% |
| Taxes | 450/3 | €509 | €1,899 | +€1,390 | +273.0% |
| Other amounts payable | 47/48 | €120,987 | €122,251 | +€1,264 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,283 | €10,283 | = | 0.0% |
| Other operating charges | 640/8 | €2,734 | €939 | -€1,795 | -65.6% |
| Gross operating margin | 9900 | €9,478 | €8,863 | -€614 | -6.5% |
| Operating profit (loss) | 9901 | -€3,539 | -€2,359 | +€1,180 | +33.4% |
| Financial income | 75/76B | €123 | - | -€123 | |
| Recurring financial income | 75 | €123 | - | -€123 | |
| Financial charges | 65/66B | €546 | €362 | -€183 | -33.6% |
| Recurring financial charges | 65 | €546 | €362 | -€183 | -33.6% |
| Profit (loss) for the period before taxes | 9903 | -€3,962 | -€2,721 | +€1,241 | +31.3% |
| Profit (loss) for the period | 9904 | -€3,962 | -€2,721 | +€1,241 | +31.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,962 | -€2,721 | +€1,241 | +31.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.