Bahlsen: 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.
Bahlsen
Largest movements
- Stocks and contracts +€321,563
up €321,563 (+77.6%), from €414,238 to €735,801
- Receivables within one year -€167,674
down €167,674 (-7.4%), from €2.3m to €2.1m
of which Other amounts receivable: -€123,847
- Cash +€103,425
up €103,425 (+246.6%), from €41,932 to €145,357
mainly Trade debts (+€333,831) and Net result for the year (+€213,884)
- Deferred charges and accrued income -€45,173
down €45,173 (-90.1%), from €50,161 to €4,988
- Trade debts +€333,831
up €333,831 (+37.3%), from €895,943 to €1.2m
- Other debts -€132,436
down €132,436 (-37.3%), from €354,731 to €222,295
- Tax, wage and social debts +€42,794
up €42,794 (+119.3%), from €35,859 to €78,653
of which Remuneration and social security: +€75,794
- Provisions -€37,709
down €37,709 (-53.3%), from €70,707 to €32,998
- Staff costs +€130,967
up €130,967 (+21.5%), from €609,049 to €740,016
- Provisions -€41,725
down €41,725, from €4,016 to -€37,709
- Taxes -€40,733
down €40,733 (-36.5%), from €111,477 to €70,744
- Financial charges +€16,797
up €16,797 (+11.0%), from €152,140 to €168,937
- Gross operating margin +€12,038
up €12,038 (+1.0%), from €1.1m to €1.2m
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 | €2,800,038 | €2,996,824 | +€196,786 | +7.0% |
| Fixed assets | 21/28 | €30,176 | €14,821 | -€15,355 | -50.9% |
| Tangible fixed assets | 22/27 | €29,892 | €14,537 | -€15,355 | -51.4% |
| Plant, machinery and equipment | 23 | €1,256 | €589 | -€667 | -53.1% |
| Furniture and vehicles | 24 | €14,985 | €7,389 | -€7,596 | -50.7% |
| Other tangible fixed assets | 26 | €13,651 | €6,559 | -€7,092 | -52.0% |
| Financial fixed assets | 28 | €284 | €284 | = | 0.0% |
| Current assets | 29/58 | €2,769,862 | €2,982,003 | +€212,141 | +7.7% |
| Stocks and contracts in progress | 3 | €414,238 | €735,801 | +€321,563 | +77.6% |
| Stocks | 30/36 | €414,238 | €735,801 | +€321,563 | +77.6% |
| Amounts receivable within one year | 40/41 | €2,263,531 | €2,095,857 | -€167,674 | -7.4% |
| Trade receivables | 40 | €1,233,907 | €1,190,080 | -€43,827 | -3.6% |
| Other amounts receivable | 41 | €1,029,624 | €905,777 | -€123,847 | -12.0% |
| Cash at bank and in hand | 54/58 | €41,932 | €145,357 | +€103,425 | +246.6% |
| Deferred charges and accrued income | 490/1 | €50,161 | €4,988 | -€45,173 | -90.1% |
| Total equity and liabilities | 10/49 | €2,800,038 | €2,996,824 | +€196,786 | +7.0% |
| Equity | 10/15 | €1,442,798 | €1,433,104 | -€9,694 | -0.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,374,598 | €1,364,904 | -€9,694 | -0.7% |
| Provisions and deferred taxes | 16 | €70,707 | €32,998 | -€37,709 | -53.3% |
| Provisions for liabilities and charges | 160/5 | €70,707 | €32,998 | -€37,709 | -53.3% |
| Other liabilities and charges | 164/5 | €70,707 | €32,998 | -€37,709 | -53.3% |
| Amounts payable | 17/49 | €1,286,533 | €1,530,722 | +€244,189 | +19.0% |
| Amounts payable within one year | 42/48 | €1,286,533 | €1,530,722 | +€244,189 | +19.0% |
| Trade debts | 44 | €895,943 | €1,229,774 | +€333,831 | +37.3% |
| Suppliers | 440/4 | €895,943 | €1,229,774 | +€333,831 | +37.3% |
| Taxes, remuneration and social security | 45 | €35,859 | €78,653 | +€42,794 | +119.3% |
| Taxes | 450/3 | €33,000 | - | -€33,000 | |
| Remuneration and social security | 454/9 | €2,859 | €78,653 | +€75,794 | +2651.1% |
| Other amounts payable | 47/48 | €354,731 | €222,295 | -€132,436 | -37.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €609,049 | €740,016 | +€130,967 | +21.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,355 | €15,355 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €11,832 | +€11,832 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €4,016 | -€37,709 | -€41,725 | |
| Gross operating margin | 9900 | €1,149,832 | €1,161,870 | +€12,038 | +1.0% |
| Operating profit (loss) | 9901 | €521,412 | €432,376 | -€89,036 | -17.1% |
| Financial income | 75/76B | €32,926 | €21,189 | -€11,737 | -35.6% |
| Recurring financial income | 75 | €32,926 | €21,189 | -€11,737 | -35.6% |
| Financial charges | 65/66B | €152,140 | €168,937 | +€16,797 | +11.0% |
| Recurring financial charges | 65 | €152,140 | €168,937 | +€16,797 | +11.0% |
| Profit (loss) for the period before taxes | 9903 | €402,198 | €284,628 | -€117,570 | -29.2% |
| Income taxes | 67/77 | €111,477 | €70,744 | -€40,733 | -36.5% |
| Profit (loss) for the period | 9904 | €290,721 | €213,884 | -€76,837 | -26.4% |
| Profit (loss) for the period to be appropriated | 9905 | €290,721 | €213,884 | -€76,837 | -26.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.