BAITAR: 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.
BAITAR
Largest movements
- Current investments -€75,886
down €75,886 (-100.0%), from €75,886 to €0
- Cash +€52,982
up €52,982 (+644.5%), from €8,220 to €61,203
mainly Current investments (+€75,886) and Receivables within one year (+€8,062)
- Receivables within one year -€8,062
down €8,062 (-18.6%), from €43,406 to €35,343
of which Trade receivables: -€4,077
- Reserves -€18,072
down €18,072 (-18.8%), from €96,136 to €78,063
of which Distributable reserves: -€18,072
- Trade debts -€12,521
down €12,521 (-83.0%), from €15,078 to €2,557
- Gross operating margin -€14,998
down €14,998 (-532.1%), from -€2,818 to -€17,816
- Financial income -€994
down €994 (-23.3%), from €4,269 to €3,275
- Other operating charges +€530
up €530 (+29.4%), from €1,800 to €2,329
- Financial charges -€292
down €292, from €208 to -€84
- Taxes -€235
down €235 (-62.5%), from €376 to €141
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 | €132,678 | €101,001 | -€31,677 | -23.9% |
| Fixed assets | 21/28 | €1,870 | €725 | -€1,145 | -61.2% |
| Tangible fixed assets | 22/27 | €1,725 | €580 | -€1,145 | -66.4% |
| Other tangible fixed assets | 26 | €1,725 | €580 | -€1,145 | -66.4% |
| Financial fixed assets | 28 | €145 | €145 | = | 0.0% |
| Current assets | 29/58 | €130,808 | €100,275 | -€30,533 | -23.3% |
| Amounts receivable within one year | 40/41 | €43,406 | €35,343 | -€8,062 | -18.6% |
| Trade receivables | 40 | €15,629 | €11,552 | -€4,077 | -26.1% |
| Other amounts receivable | 41 | €27,777 | €23,791 | -€3,985 | -14.3% |
| Current investments | 50/53 | €75,886 | €0 | -€75,886 | -100.0% |
| Cash at bank and in hand | 54/58 | €8,220 | €61,203 | +€52,982 | +644.5% |
| Deferred charges and accrued income | 490/1 | €3,297 | €3,729 | +€433 | +13.1% |
| Total equity and liabilities | 10/49 | €132,678 | €101,001 | -€31,677 | -23.9% |
| Equity | 10/15 | €114,736 | €96,663 | -€18,072 | -15.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €96,136 | €78,063 | -€18,072 | -18.8% |
| Tax-exempt reserves | 132 | €19,569 | €19,569 | = | 0.0% |
| Distributable reserves | 133 | €76,567 | €58,495 | -€18,072 | -23.6% |
| Amounts payable | 17/49 | €17,942 | €4,337 | -€13,605 | -75.8% |
| Amounts payable within one year | 42/48 | €17,942 | €4,337 | -€13,605 | -75.8% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €15,078 | €2,557 | -€12,521 | -83.0% |
| Suppliers | 440/4 | €15,078 | €2,557 | -€12,521 | -83.0% |
| Taxes, remuneration and social security | 45 | €2,864 | €1,781 | -€1,084 | -37.8% |
| Taxes | 450/3 | €1,036 | €1,579 | +€544 | +52.5% |
| Remuneration and social security | 454/9 | €1,829 | €201 | -€1,628 | -89.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,145 | €1,145 | = | 0.0% |
| Other operating charges | 640/8 | €1,800 | €2,329 | +€530 | +29.4% |
| Gross operating margin | 9900 | -€2,818 | -€17,816 | -€14,998 | -532.1% |
| Operating profit (loss) | 9901 | -€5,763 | -€21,290 | -€15,527 | -269.5% |
| Financial income | 75/76B | €4,269 | €3,275 | -€994 | -23.3% |
| Recurring financial income | 75 | €4,269 | €3,275 | -€994 | -23.3% |
| Financial charges | 65/66B | €208 | -€84 | -€292 | |
| Recurring financial charges | 65 | €208 | -€84 | -€292 | |
| Profit (loss) for the period before taxes | 9903 | -€1,702 | -€17,931 | -€16,229 | -953.5% |
| Income taxes | 67/77 | €376 | €141 | -€235 | -62.5% |
| Profit (loss) for the period | 9904 | -€2,078 | -€18,072 | -€15,994 | -769.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,078 | -€18,072 | -€15,994 | -769.7% |
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.