BAILLIEUX: 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.
BAILLIEUX
Largest movements
- Tangible fixed assets +€229,612
up €229,612 (+274%), from €83,750 to €313,362
of which Furniture and vehicles: +€231,695
- Cash +€200,387
up €200,387 (+34.0%), from €589,386 to €789,773
mainly Debts after one year (+€171,768) and Net result for the year (+€121,144)
- Receivables within one year +€36,027
up €36,027 (+20.1%), from €179,490 to €215,518
of which Trade receivables: +€36,377
- Debts after one year +€171,768
up €171,768 (+469%), from €36,642 to €208,409
- Reserves +€121,144
up €121,144 (+12.9%), from €942,388 to €1.1m
of which Distributable reserves: +€123,004
- Trade debts +€96,993
up €96,993 (+110%), from €87,876 to €184,869
- Current portion of long-term debt +€44,609
up €44,609 (+210%), from €21,221 to €65,830
- Tax, wage and social debts +€30,984
up €30,984 (+83.4%), from €37,150 to €68,134
of which Taxes: +€30,308
- Gross operating margin +€33,739
up €33,739 (+13.1%), from €257,639 to €291,378
- Staff costs +€13,241
up €13,241 (+23.8%), from €55,545 to €68,786
- Depreciation +€10,672
up €10,672 (+46.0%), from €23,200 to €33,871
- Financial charges +€7,794
up €7,794 (+184%), from €4,234 to €12,028
- Taxes +€3,363
up €3,363 (+6.9%), from €48,443 to €51,806
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 | €1,150,216 | €1,614,621 | +€464,405 | +40.4% |
| Fixed assets | 21/28 | €83,750 | €313,362 | +€229,612 | +274% |
| Tangible fixed assets | 22/27 | €83,750 | €313,362 | +€229,612 | +274% |
| Plant, machinery and equipment | 23 | €32,309 | €30,225 | -€2,083 | -6.4% |
| Furniture and vehicles | 24 | €51,442 | €283,137 | +€231,695 | +450% |
| Current assets | 29/58 | €1,066,466 | €1,301,258 | +€234,793 | +22.0% |
| Amounts receivable after more than one year | 29 | €234,301 | €234,301 | = | 0.0% |
| Other amounts receivable | 291 | €234,301 | €234,301 | = | 0.0% |
| Stocks and contracts in progress | 3 | €59,256 | €58,487 | -€769 | -1.3% |
| Stocks | 30/36 | €59,256 | €58,487 | -€769 | -1.3% |
| Amounts receivable within one year | 40/41 | €179,490 | €215,518 | +€36,027 | +20.1% |
| Trade receivables | 40 | €179,140 | €215,518 | +€36,377 | +20.3% |
| Other amounts receivable | 41 | €350 | €0 | -€350 | -100% |
| Cash at bank and in hand | 54/58 | €589,386 | €789,773 | +€200,387 | +34.0% |
| Deferred charges and accrued income | 490/1 | €4,033 | €3,180 | -€853 | -21.1% |
| Total equity and liabilities | 10/49 | €1,150,216 | €1,614,621 | +€464,405 | +40.4% |
| Equity | 10/15 | €948,588 | €1,069,732 | +€121,144 | +12.8% |
| Contributions | 10/11 | €6,201 | €6,201 | = | 0.0% |
| Reserves | 13 | €942,388 | €1,063,532 | +€121,144 | +12.9% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €940,528 | €1,063,532 | +€123,004 | +13.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €201,628 | €544,889 | +€343,261 | +170% |
| Amounts payable after more than one year | 17 | €36,642 | €208,409 | +€171,768 | +469% |
| Financial debts | 170/4 | €36,642 | €208,409 | +€171,768 | +469% |
| Amounts payable within one year | 42/48 | €164,394 | €336,479 | +€172,085 | +105% |
| Current portion of amounts payable after more than one year | 42 | €21,221 | €65,830 | +€44,609 | +210% |
| Trade debts | 44 | €87,876 | €184,869 | +€96,993 | +110% |
| Suppliers | 440/4 | €87,876 | €184,869 | +€96,993 | +110% |
| Taxes, remuneration and social security | 45 | €37,150 | €68,134 | +€30,984 | +83.4% |
| Taxes | 450/3 | €27,853 | €58,160 | +€30,308 | +109% |
| Remuneration and social security | 454/9 | €9,298 | €9,974 | +€676 | +7.3% |
| Other amounts payable | 47/48 | €18,147 | €17,646 | -€501 | -2.8% |
| Accrued charges and deferred income | 492/3 | €592 | €0 | -€592 | -100% |
| Remuneration, social security and pensions | 62 | €55,545 | €68,786 | +€13,241 | +23.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,200 | €33,871 | +€10,672 | +46.0% |
| Other operating charges | 640/8 | €5,071 | €4,227 | -€845 | -16.7% |
| Gross operating margin | 9900 | €257,639 | €291,378 | +€33,739 | +13.1% |
| Operating profit (loss) | 9901 | €173,822 | €184,494 | +€10,672 | +6.1% |
| Financial income | 75/76B | €100 | €484 | +€384 | +382% |
| Recurring financial income | 75 | €100 | €484 | +€384 | +382% |
| Financial charges | 65/66B | €4,234 | €12,028 | +€7,794 | +184% |
| Recurring financial charges | 65 | €4,234 | €12,028 | +€7,794 | +184% |
| Profit (loss) for the period before taxes | 9903 | €169,689 | €172,950 | +€3,261 | +1.9% |
| Income taxes | 67/77 | €48,443 | €51,806 | +€3,363 | +6.9% |
| Profit (loss) for the period | 9904 | €121,246 | €121,144 | -€102 | -0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €121,246 | €121,144 | -€102 | -0.1% |
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 27 October 2026 via checked.be.