BAJOPA: 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.
BAJOPA
Largest movements
- Tangible fixed assets -€17,458
down €17,458 (-3.6%), from €487,628 to €470,170
of which Land and buildings: -€23,726
- Receivables within one year +€7,402
up €7,402 (+27.3%), from €27,124 to €34,527
of which Other amounts receivable: +€8,529
- Debts after one year -€32,586
down €32,586 (-66.0%), from €49,405 to €16,818
- Advances received +€22,520
up €22,520 (+804%), from €2,800 to €25,320
- Reserves -€17,553
down €17,553 (-6.2%), from €281,610 to €264,056
of which Distributable reserves: -€17,553
- Other debts +€10,579
up €10,579 (+9.4%), from €112,485 to €123,064
- Trade debts +€6,004
up €6,004 (+37.8%), from €15,873 to €21,877
- Taxes -€40,799
down €40,799 (-100%), from €40,799 to €0
- Gross operating margin -€24,763
down €24,763 (-37.9%), from €65,333 to €40,570
- Other operating charges +€16,070
up €16,070 (+1,346%), from €1,194 to €17,265
- Financial charges +€6,496
up €6,496 (+140%), from €4,636 to €11,131
- Depreciation -€1,467
down €1,467 (-4.7%), from €31,194 to €29,727
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 | €522,301 | €509,965 | -€12,336 | -2.4% |
| Fixed assets | 21/28 | €487,628 | €470,170 | -€17,458 | -3.6% |
| Tangible fixed assets | 22/27 | €487,628 | €470,170 | -€17,458 | -3.6% |
| Land and buildings | 22 | €476,218 | €452,492 | -€23,726 | -5.0% |
| Plant, machinery and equipment | 23 | €8,463 | €13,822 | +€5,359 | +63.3% |
| Furniture and vehicles | 24 | €2,947 | €3,856 | +€909 | +30.8% |
| Current assets | 29/58 | €34,673 | €39,795 | +€5,122 | +14.8% |
| Amounts receivable within one year | 40/41 | €27,124 | €34,527 | +€7,402 | +27.3% |
| Trade receivables | 40 | €25,927 | €24,800 | -€1,127 | -4.3% |
| Other amounts receivable | 41 | €1,197 | €9,727 | +€8,529 | +712% |
| Cash at bank and in hand | 54/58 | €7,549 | €5,269 | -€2,280 | -30.2% |
| Total equity and liabilities | 10/49 | €522,301 | €509,965 | -€12,336 | -2.4% |
| Equity | 10/15 | €294,010 | €276,456 | -€17,553 | -6.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €281,610 | €264,056 | -€17,553 | -6.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €279,750 | €262,196 | -€17,553 | -6.3% |
| Amounts payable | 17/49 | €228,292 | €233,509 | +€5,217 | +2.3% |
| Amounts payable after more than one year | 17 | €49,405 | €16,818 | -€32,586 | -66.0% |
| Financial debts | 170/4 | €49,405 | €16,818 | -€32,586 | -66.0% |
| Amounts payable within one year | 42/48 | €178,887 | €211,068 | +€32,181 | +18.0% |
| Current portion of amounts payable after more than one year | 42 | €34,426 | €32,586 | -€1,839 | -5.3% |
| Trade debts | 44 | €15,873 | €21,877 | +€6,004 | +37.8% |
| Suppliers | 440/4 | €15,873 | €21,877 | +€6,004 | +37.8% |
| Advances received on contracts in progress | 46 | €2,800 | €25,320 | +€22,520 | +804% |
| Taxes, remuneration and social security | 45 | €13,303 | €8,220 | -€5,082 | -38.2% |
| Taxes | 450/3 | €13,303 | €8,220 | -€5,082 | -38.2% |
| Other amounts payable | 47/48 | €112,485 | €123,064 | +€10,579 | +9.4% |
| Accrued charges and deferred income | 492/3 | - | €5,622 | +€5,622 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,194 | €29,727 | -€1,467 | -4.7% |
| Other operating charges | 640/8 | €1,194 | €17,265 | +€16,070 | +1,346% |
| Gross operating margin | 9900 | €65,333 | €40,570 | -€24,763 | -37.9% |
| Operating profit (loss) | 9901 | €32,945 | -€6,422 | -€39,367 | |
| Financial income | 75/76B | €29 | €0 | -€29 | -100% |
| Recurring financial income | 75 | €29 | €0 | -€29 | -100% |
| Financial charges | 65/66B | €4,636 | €11,131 | +€6,496 | +140% |
| Recurring financial charges | 65 | €4,636 | €11,131 | +€6,496 | +140% |
| Profit (loss) for the period before taxes | 9903 | €28,338 | -€17,553 | -€45,891 | |
| Income taxes | 67/77 | €40,799 | €0 | -€40,799 | -100% |
| Profit (loss) for the period | 9904 | -€12,462 | -€17,553 | -€5,092 | -40.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,462 | -€17,553 | -€5,092 | -40.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.