BAILLEUL GEERT: 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.
BAILLEUL GEERT
Largest movements
- Cash +€177,973
up €177,973 (+104%), from €171,487 to €349,460
mainly Receivables within one year (+€165,995) and Depreciation (+€131,512)
- Receivables within one year -€165,995
down €165,995 (-32.0%), from €519,246 to €353,251
of which Trade receivables: -€182,075
- Deferred charges and accrued income -€19,188
down €19,188 (-89.8%), from €21,362 to €2,174
- Reserves +€85,589
up €85,589 (+17.8%), from €479,660 to €565,249
- Debts after one year -€62,931
down €62,931 (-29.1%), from €216,068 to €153,137
- Trade debts -€25,362
down €25,362 (-8.8%), from €286,759 to €261,397
- Gross operating margin -€26,944
down €26,944 (-7.9%), from €341,851 to €314,907
- Depreciation +€24,488
up €24,488 (+22.9%), from €107,024 to €131,512
- Taxes -€8,805
down €8,805 (-17.9%), from €49,193 to €40,387
- Financial charges -€4,780
down €4,780 (-31.3%), from €15,295 to €10,515
- Other operating charges -€4,476
down €4,476 (-46.5%), from €9,636 to €5,160
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.
Derived cash bridge
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 | €1,121,903 | €1,118,850 | -€3,053 | -0.3% |
| Fixed assets | 21/28 | €409,808 | €413,966 | +€4,158 | +1.0% |
| Tangible fixed assets | 22/27 | €406,923 | €411,081 | +€4,158 | +1.0% |
| Land and buildings | 22 | €21,932 | €20,285 | -€1,647 | -7.5% |
| Plant, machinery and equipment | 23 | €44,404 | €34,951 | -€9,453 | -21.3% |
| Furniture and vehicles | 24 | €185,170 | €237,729 | +€52,559 | +28.4% |
| Leasing and similar rights | 25 | €155,417 | €118,117 | -€37,300 | -24.0% |
| Financial fixed assets | 28 | €2,885 | €2,885 | = | 0.0% |
| Current assets | 29/58 | €712,095 | €704,884 | -€7,211 | -1.0% |
| Amounts receivable within one year | 40/41 | €519,246 | €353,251 | -€165,995 | -32.0% |
| Trade receivables | 40 | €504,556 | €322,481 | -€182,075 | -36.1% |
| Other amounts receivable | 41 | €14,690 | €30,769 | +€16,080 | +109% |
| Cash at bank and in hand | 54/58 | €171,487 | €349,460 | +€177,973 | +104% |
| Deferred charges and accrued income | 490/1 | €21,362 | €2,174 | -€19,188 | -89.8% |
| Total equity and liabilities | 10/49 | €1,121,903 | €1,118,850 | -€3,053 | -0.3% |
| Equity | 10/15 | €548,210 | €633,799 | +€85,589 | +15.6% |
| Contributions | 10/11 | €68,550 | €68,550 | = | 0.0% |
| Reserves | 13 | €479,660 | €565,249 | +€85,589 | +17.8% |
| Distributable reserves | 133 | €479,660 | €565,249 | +€85,589 | +17.8% |
| Amounts payable | 17/49 | €573,693 | €485,052 | -€88,642 | -15.5% |
| Amounts payable after more than one year | 17 | €216,068 | €153,137 | -€62,931 | -29.1% |
| Financial debts | 170/4 | €216,068 | €153,137 | -€62,931 | -29.1% |
| Amounts payable within one year | 42/48 | €357,625 | €331,915 | -€25,711 | -7.2% |
| Current portion of amounts payable after more than one year | 42 | €63,069 | €62,931 | -€138 | -0.2% |
| Trade debts | 44 | €286,759 | €261,397 | -€25,362 | -8.8% |
| Suppliers | 440/4 | €286,759 | €261,397 | -€25,362 | -8.8% |
| Taxes, remuneration and social security | 45 | €4,158 | €506 | -€3,652 | -87.8% |
| Taxes | 450/3 | €281 | €506 | +€225 | +80.1% |
| Remuneration and social security | 454/9 | €3,877 | - | -€3,877 | |
| Other amounts payable | 47/48 | €3,639 | €7,080 | +€3,441 | +94.6% |
| Non-recurring operating income | 76A | - | €60,000 | +€60,000 | |
| Remuneration, social security and pensions | 62 | - | €1,372 | +€1,372 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €107,024 | €131,512 | +€24,488 | +22.9% |
| Other operating charges | 640/8 | €9,636 | €5,160 | -€4,476 | -46.5% |
| Gross operating margin | 9900 | €341,851 | €314,907 | -€26,944 | -7.9% |
| Operating profit (loss) | 9901 | €225,191 | €176,862 | -€48,328 | -21.5% |
| Financial income | 75/76B | €17 | €321 | +€304 | +1,829% |
| Recurring financial income | 75 | €17 | €321 | +€304 | +1,829% |
| Financial charges | 65/66B | €15,295 | €10,515 | -€4,780 | -31.3% |
| Recurring financial charges | 65 | €15,295 | €10,515 | -€4,780 | -31.3% |
| Profit (loss) for the period before taxes | 9903 | €209,912 | €166,668 | -€43,244 | -20.6% |
| Income taxes | 67/77 | €49,193 | €40,387 | -€8,805 | -17.9% |
| Profit (loss) for the period | 9904 | €160,720 | €126,281 | -€34,439 | -21.4% |
| Profit (loss) for the period to be appropriated | 9905 | €160,720 | €126,281 | -€34,439 | -21.4% |
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 31 October 2026 via checked.be.