BAIPS: 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.
BAIPS
Largest movements
- Receivables within one year +€107,811
up €107,811 (+71.0%), from €151,820 to €259,631
of which Trade receivables: +€98,247
- Cash -€15,082
down €15,082 (-78.0%), from €19,347 to €4,266
mainly Receivables within one year (-€107,811)
- Tax, wage and social debts +€38,250
up €38,250 (+60.4%), from €63,339 to €101,589
- Profit (loss) carried forward +€33,276
up €33,276 (+29.7%), from -€111,968 to -€78,692
- Trade debts +€18,494
up €18,494 (+12.3%), from €149,772 to €168,266
- Gross operating margin +€98,463
up €98,463 (+25.9%), from €379,809 to €478,272
- Staff costs +€81,731
up €81,731 (+23.7%), from €344,713 to €426,444
- Taxes +€9,105
new in 2025: €9,105
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 | €177,593 | €269,364 | +€91,771 | +51.7% |
| Fixed assets | 21/28 | €2,220 | €1,322 | -€898 | -40.4% |
| Tangible fixed assets | 22/27 | €2,220 | €1,322 | -€898 | -40.4% |
| Furniture and vehicles | 24 | €2,220 | €1,322 | -€898 | -40.4% |
| Current assets | 29/58 | €175,373 | €268,041 | +€92,669 | +52.8% |
| Amounts receivable within one year | 40/41 | €151,820 | €259,631 | +€107,811 | +71.0% |
| Trade receivables | 40 | €151,239 | €249,486 | +€98,247 | +65.0% |
| Other amounts receivable | 41 | €581 | €10,145 | +€9,564 | +1645.5% |
| Cash at bank and in hand | 54/58 | €19,347 | €4,266 | -€15,082 | -78.0% |
| Deferred charges and accrued income | 490/1 | €4,205 | €4,145 | -€61 | -1.4% |
| Total equity and liabilities | 10/49 | €177,593 | €269,364 | +€91,771 | +51.7% |
| Equity | 10/15 | -€35,518 | -€491 | +€35,027 | +98.6% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €1,450 | €3,201 | +€1,751 | +120.8% |
| Non-distributable reserves | 130/1 | €1,450 | €3,201 | +€1,751 | +120.8% |
| Legal reserve | 130 | €1,450 | €3,201 | +€1,751 | +120.8% |
| Profit (loss) carried forward | 14 | -€111,968 | -€78,692 | +€33,276 | +29.7% |
| Amounts payable | 17/49 | €213,111 | €269,854 | +€56,743 | +26.6% |
| Amounts payable within one year | 42/48 | €213,111 | €269,854 | +€56,743 | +26.6% |
| Trade debts | 44 | €149,772 | €168,266 | +€18,494 | +12.3% |
| Suppliers | 440/4 | €149,772 | €168,266 | +€18,494 | +12.3% |
| Taxes, remuneration and social security | 45 | €63,339 | €101,589 | +€38,250 | +60.4% |
| Remuneration and social security | 454/9 | €63,339 | €101,589 | +€38,250 | +60.4% |
| Remuneration, social security and pensions | 62 | €344,713 | €426,444 | +€81,731 | +23.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €476 | €898 | +€422 | +88.7% |
| Other operating charges | 640/8 | €779 | €575 | -€205 | -26.2% |
| Gross operating margin | 9900 | €379,809 | €478,272 | +€98,463 | +25.9% |
| Operating profit (loss) | 9901 | €33,841 | €50,355 | +€16,515 | +48.8% |
| Financial income | 75/76B | €765 | €600 | -€165 | -21.6% |
| Recurring financial income | 75 | €765 | €600 | -€165 | -21.6% |
| Financial charges | 65/66B | €5,608 | €6,823 | +€1,215 | +21.7% |
| Recurring financial charges | 65 | €5,608 | €6,823 | +€1,215 | +21.7% |
| Profit (loss) for the period before taxes | 9903 | €28,998 | €44,132 | +€15,134 | +52.2% |
| Income taxes | 67/77 | - | €9,105 | +€9,105 | |
| Profit (loss) for the period | 9904 | €28,998 | €35,027 | +€6,030 | +20.8% |
| Profit (loss) for the period to be appropriated | 9905 | €28,998 | €35,027 | +€6,030 | +20.8% |
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 8 October 2026 via checked.be.