BAIN NOIR: 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.
BAIN NOIR
Largest movements
- Receivables within one year +€19,177
up €19,177 (+113%), from €16,995 to €36,172
of which Other amounts receivable: +€20,301
- Cash -€2,055
down €2,055 (-95.0%), from €2,163 to €108
mainly Receivables within one year (-€19,177)
- Tangible fixed assets -€665
down €665 (-17.5%), from €3,798 to €3,133
of which Plant, machinery and equipment: -€500
- Trade debts +€5,669
up €5,669 (+80.0%), from €7,083 to €12,752
- Reserves +€3,926
up €3,926 (+46.9%), from €8,375 to €12,301
- Advances received +€3,704
up €3,704 (+232%), from €1,595 to €5,299
- Tax, wage and social debts +€3,129
up €3,129 (+106%), from €2,961 to €6,090
- Gross operating margin -€6,508
down €6,508 (-52.1%), from €12,495 to €5,987
- Taxes -€2,179
down €2,179 (-73.6%), from €2,961 to €783
- Financial income +€686
up €686 (+1,696%), from €40 to €726
- Other operating charges +€583
up €583 (+86.2%), from €676 to €1,259
- Depreciation +€313
up €313 (+88.7%), from €352 to €665
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 | €23,015 | €39,442 | +€16,427 | +71.4% |
| Fixed assets | 21/28 | €3,798 | €3,133 | -€665 | -17.5% |
| Tangible fixed assets | 22/27 | €3,798 | €3,133 | -€665 | -17.5% |
| Plant, machinery and equipment | 23 | €2,235 | €1,735 | -€500 | -22.4% |
| Furniture and vehicles | 24 | €1,563 | €1,398 | -€165 | -10.6% |
| Current assets | 29/58 | €19,217 | €36,310 | +€17,092 | +88.9% |
| Amounts receivable within one year | 40/41 | €16,995 | €36,172 | +€19,177 | +113% |
| Trade receivables | 40 | €15,078 | €13,954 | -€1,124 | -7.5% |
| Other amounts receivable | 41 | €1,917 | €22,218 | +€20,301 | +1,059% |
| Cash at bank and in hand | 54/58 | €2,163 | €108 | -€2,055 | -95.0% |
| Deferred charges and accrued income | 490/1 | €58 | €29 | -€29 | -50.0% |
| Total equity and liabilities | 10/49 | €23,015 | €39,442 | +€16,427 | +71.4% |
| Equity | 10/15 | €11,375 | €15,301 | +€3,926 | +34.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €8,375 | €12,301 | +€3,926 | +46.9% |
| Distributable reserves | 133 | €8,375 | €12,301 | +€3,926 | +46.9% |
| Amounts payable | 17/49 | €11,640 | €24,141 | +€12,502 | +107% |
| Amounts payable within one year | 42/48 | €11,640 | €24,141 | +€12,502 | +107% |
| Trade debts | 44 | €7,083 | €12,752 | +€5,669 | +80.0% |
| Suppliers | 440/4 | €7,083 | €12,752 | +€5,669 | +80.0% |
| Advances received on contracts in progress | 46 | €1,595 | €5,299 | +€3,704 | +232% |
| Taxes, remuneration and social security | 45 | €2,961 | €6,090 | +€3,129 | +106% |
| Taxes | 450/3 | €2,961 | €6,090 | +€3,129 | +106% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €352 | €665 | +€313 | +88.7% |
| Other operating charges | 640/8 | €676 | €1,259 | +€583 | +86.2% |
| Gross operating margin | 9900 | €12,495 | €5,987 | -€6,508 | -52.1% |
| Operating profit (loss) | 9901 | €11,467 | €4,064 | -€7,403 | -64.6% |
| Financial income | 75/76B | €40 | €726 | +€686 | +1,696% |
| Recurring financial income | 75 | €40 | €726 | +€686 | +1,696% |
| Financial charges | 65/66B | €171 | €81 | -€90 | -52.4% |
| Recurring financial charges | 65 | €171 | €81 | -€90 | -52.4% |
| Profit (loss) for the period before taxes | 9903 | €11,337 | €4,708 | -€6,628 | -58.5% |
| Income taxes | 67/77 | €2,961 | €783 | -€2,179 | -73.6% |
| Profit (loss) for the period | 9904 | €8,375 | €3,926 | -€4,449 | -53.1% |
| Profit (loss) for the period to be appropriated | 9905 | €8,375 | €3,926 | -€4,449 | -53.1% |
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 23 October 2026 via checked.be.