BAITEX: 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.
BAITEX
Largest movements
- Cash +€48,750
up €48,750 (+17.2%), from €283,096 to €331,845
mainly Net result for the year (+€75,753) and Receivables within one year (+€4,981)
- Current investments +€24,205
up €24,205 (+164.5%), from €14,710 to €38,915
- Receivables within one year -€4,981
down €4,981 (-6.7%), from €73,868 to €68,888
of which Trade receivables: -€7,187
- Reserves +€75,753
up €75,753 (+20.9%), from €362,829 to €438,582
- Tax, wage and social debts -€9,791
down €9,791 (-80.0%), from €12,240 to €2,449
- Gross operating margin +€15,593
up €15,593 (+16.7%), from €93,350 to €108,944
- Taxes +€4,402
up €4,402 (+16.5%), from €26,650 to €31,052
- Depreciation -€1,192
down €1,192 (-25.9%), from €4,597 to €3,404
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 | €384,235 | €452,741 | +€68,506 | +17.8% |
| Fixed assets | 21/28 | €11,967 | €12,859 | +€892 | +7.5% |
| Tangible fixed assets | 22/27 | €11,967 | €12,859 | +€892 | +7.5% |
| Plant, machinery and equipment | 23 | €10,116 | €8,748 | -€1,368 | -13.5% |
| Furniture and vehicles | 24 | €1,850 | €4,110 | +€2,260 | +122.1% |
| Current assets | 29/58 | €372,268 | €439,882 | +€67,614 | +18.2% |
| Amounts receivable within one year | 40/41 | €73,868 | €68,888 | -€4,981 | -6.7% |
| Trade receivables | 40 | €33,241 | €26,054 | -€7,187 | -21.6% |
| Other amounts receivable | 41 | €40,628 | €42,834 | +€2,207 | +5.4% |
| Current investments | 50/53 | €14,710 | €38,915 | +€24,205 | +164.5% |
| Cash at bank and in hand | 54/58 | €283,096 | €331,845 | +€48,750 | +17.2% |
| Deferred charges and accrued income | 490/1 | €594 | €234 | -€360 | -60.6% |
| Total equity and liabilities | 10/49 | €384,235 | €452,741 | +€68,506 | +17.8% |
| Equity | 10/15 | €369,029 | €444,782 | +€75,753 | +20.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €362,829 | €438,582 | +€75,753 | +20.9% |
| Distributable reserves | 133 | €362,829 | €438,582 | +€75,753 | +20.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €15,206 | €7,959 | -€7,247 | -47.7% |
| Amounts payable within one year | 42/48 | €15,206 | €7,959 | -€7,247 | -47.7% |
| Trade debts | 44 | €1,248 | €5,510 | +€4,262 | +341.4% |
| Suppliers | 440/4 | €1,248 | €5,510 | +€4,262 | +341.4% |
| Taxes, remuneration and social security | 45 | €12,240 | €2,449 | -€9,791 | -80.0% |
| Taxes | 450/3 | €12,240 | €2,449 | -€9,791 | -80.0% |
| Other amounts payable | 47/48 | €1,718 | €0 | -€1,718 | -100.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,597 | €3,404 | -€1,192 | -25.9% |
| Other operating charges | 640/8 | €2,177 | €1,829 | -€348 | -16.0% |
| Gross operating margin | 9900 | €93,350 | €108,944 | +€15,593 | +16.7% |
| Operating profit (loss) | 9901 | €86,577 | €103,711 | +€17,134 | +19.8% |
| Financial income | 75/76B | €3,185 | €3,315 | +€130 | +4.1% |
| Recurring financial income | 75 | €3,185 | €3,315 | +€130 | +4.1% |
| Financial charges | 65/66B | €114 | €220 | +€106 | +93.2% |
| Recurring financial charges | 65 | €114 | €220 | +€106 | +93.2% |
| Profit (loss) for the period before taxes | 9903 | €89,648 | €106,805 | +€17,157 | +19.1% |
| Income taxes | 67/77 | €26,650 | €31,052 | +€4,402 | +16.5% |
| Profit (loss) for the period | 9904 | €62,998 | €75,753 | +€12,755 | +20.2% |
| Profit (loss) for the period to be appropriated | 9905 | €62,998 | €75,753 | +€12,755 | +20.2% |
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 7 October 2026 via checked.be.