BAJA GROUP: 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.
BAJA GROUP
Largest movements
- Tangible fixed assets +€367,578
up €367,578 (+797.3%), from €46,104 to €413,682
of which Land and buildings: +€381,145
- Current investments +€100,000
new in 2025: €100,000
- Cash -€72,997
down €72,997 (-71.1%), from €102,668 to €29,672
mainly Investment in fixed assets (net) (-€435,494) and Current investments (-€100,000)
- Receivables within one year +€14,021
up €14,021 (+664.6%), from €2,110 to €16,131
of which Other amounts receivable: +€13,013
- Debts after one year +€309,581
new in 2025: €309,581
- Reserves +€179,209
up €179,209 (+1088.2%), from €16,468 to €195,677
- Profit (loss) carried forward -€117,500
down €117,500 (-99.9%), from €117,594 to €94
- Current portion of long-term debt +€30,477
new in 2025: €30,477
- Depreciation +€56,899
up €56,899 (+516.5%), from €11,017 to €67,916
- Gross operating margin -€22,727
down €22,727 (-36.0%), from €63,114 to €40,387
- Taxes -€8,684
down €8,684 (-57.7%), from €15,050 to €6,366
- Financial charges +€2,328
up €2,328 (+105.2%), from €2,214 to €4,541
- Financial income +€907
up €907 (+0.9%), from €100,167 to €101,074
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 | €565,051 | €973,319 | +€408,268 | +72.3% |
| Fixed assets | 21/28 | €459,160 | €826,738 | +€367,578 | +80.1% |
| Tangible fixed assets | 22/27 | €46,104 | €413,682 | +€367,578 | +797.3% |
| Land and buildings | 22 | - | €381,145 | +€381,145 | |
| Plant, machinery and equipment | 23 | €630 | €486 | -€144 | -22.9% |
| Furniture and vehicles | 24 | €45,474 | €32,052 | -€13,422 | -29.5% |
| Financial fixed assets | 28 | €413,056 | €413,056 | = | 0.0% |
| Current assets | 29/58 | €105,891 | €146,582 | +€40,690 | +38.4% |
| Amounts receivable within one year | 40/41 | €2,110 | €16,131 | +€14,021 | +664.6% |
| Trade receivables | 40 | - | €1,008 | +€1,008 | |
| Other amounts receivable | 41 | €2,110 | €15,123 | +€13,013 | +616.8% |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €102,668 | €29,672 | -€72,997 | -71.1% |
| Deferred charges and accrued income | 490/1 | €1,113 | €779 | -€334 | -30.0% |
| Total equity and liabilities | 10/49 | €565,051 | €973,319 | +€408,268 | +72.3% |
| Equity | 10/15 | €553,062 | €614,771 | +€61,709 | +11.2% |
| Contributions | 10/11 | €419,000 | €419,000 | = | 0.0% |
| Reserves | 13 | €16,468 | €195,677 | +€179,209 | +1088.2% |
| Distributable reserves | 133 | €16,468 | €195,677 | +€179,209 | +1088.2% |
| Profit (loss) carried forward | 14 | €117,594 | €94 | -€117,500 | -99.9% |
| Amounts payable | 17/49 | €11,989 | €358,548 | +€346,559 | +2890.7% |
| Amounts payable after more than one year | 17 | - | €309,581 | +€309,581 | |
| Financial debts | 170/4 | - | €309,581 | +€309,581 | |
| Amounts payable within one year | 42/48 | €11,938 | €48,925 | +€36,987 | +309.8% |
| Current portion of amounts payable after more than one year | 42 | - | €30,477 | +€30,477 | |
| Trade debts | 44 | €1,707 | €4,803 | +€3,095 | +181.3% |
| Suppliers | 440/4 | €1,707 | €4,803 | +€3,095 | +181.3% |
| Taxes, remuneration and social security | 45 | €9,144 | €10,228 | +€1,085 | +11.9% |
| Taxes | 450/3 | €4,144 | €7,728 | +€3,585 | +86.5% |
| Remuneration and social security | 454/9 | €5,000 | €2,500 | -€2,500 | -50.0% |
| Other amounts payable | 47/48 | €1,087 | €3,417 | +€2,330 | +214.4% |
| Accrued charges and deferred income | 492/3 | €50 | €42 | -€8 | -16.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,017 | €67,916 | +€56,899 | +516.5% |
| Other operating charges | 640/8 | €939 | €927 | -€11 | -1.2% |
| Gross operating margin | 9900 | €63,114 | €40,387 | -€22,727 | -36.0% |
| Operating profit (loss) | 9901 | €51,159 | -€28,457 | -€79,615 | |
| Financial income | 75/76B | €100,167 | €101,074 | +€907 | +0.9% |
| Recurring financial income | 75 | €100,167 | €101,074 | +€907 | +0.9% |
| Financial charges | 65/66B | €2,214 | €4,541 | +€2,328 | +105.2% |
| Recurring financial charges | 65 | €2,214 | €4,541 | +€2,328 | +105.2% |
| Profit (loss) for the period before taxes | 9903 | €149,112 | €68,076 | -€81,037 | -54.3% |
| Income taxes | 67/77 | €15,050 | €6,366 | -€8,684 | -57.7% |
| Profit (loss) for the period | 9904 | €134,062 | €61,709 | -€72,353 | -54.0% |
| Profit (loss) for the period to be appropriated | 9905 | €134,062 | €61,709 | -€72,353 | -54.0% |
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 10 October 2026 via checked.be.