BAJU: 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.
BAJU
Largest movements
- Deferred charges and accrued income -€6,814
down €6,814 (-33.3%), from €20,443 to €13,629
- Cash +€3,958
up €3,958 (+11.4%), from €34,806 to €38,764
mainly Deferred charges and accrued income (+€6,814) and Net result for the year (+€2,904)
- Tangible fixed assets +€2,050
up €2,050 (+137%), from €1,497 to €3,546
- Stocks and contracts -€1,925
down €1,925 (-46.1%), from €4,175 to €2,250
- Trade debts -€5,863
down €5,863 (-27.4%), from €21,429 to €15,566
- Reserves +€2,904
up €2,904 (+156%), from €1,860 to €4,764
of which Distributable reserves: +€2,904
- Other debts +€1,961
up €1,961 (+629%), from €312 to €2,272
- Current portion of long-term debt -€1,197
no longer reported in 2025 (was €1,197)
- Staff costs +€12,456
up €12,456 (+115%), from €10,826 to €23,282
- Other operating charges -€9,662
down €9,662 (-89.1%), from €10,847 to €1,185
- Gross operating margin -€6,592
down €6,592 (-18.4%), from €35,752 to €29,161
- Depreciation -€6,354
down €6,354 (-97.7%), from €6,504 to €151
- Taxes -€1,921
down €1,921 (-54.9%), from €3,498 to €1,577
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 | €79,904 | €77,810 | -€2,094 | -2.6% |
| Fixed assets | 21/28 | €1,683 | €3,733 | +€2,050 | +122% |
| Tangible fixed assets | 22/27 | €1,497 | €3,546 | +€2,050 | +137% |
| Plant, machinery and equipment | 23 | €1,497 | €3,546 | +€2,050 | +137% |
| Financial fixed assets | 28 | €186 | €186 | = | 0.0% |
| Current assets | 29/58 | €78,221 | €74,077 | -€4,144 | -5.3% |
| Stocks and contracts in progress | 3 | €4,175 | €2,250 | -€1,925 | -46.1% |
| Stocks | 30/36 | €4,175 | €2,250 | -€1,925 | -46.1% |
| Amounts receivable within one year | 40/41 | €18,797 | €19,434 | +€637 | +3.4% |
| Trade receivables | 40 | €595 | - | -€595 | |
| Other amounts receivable | 41 | €18,203 | €19,434 | +€1,232 | +6.8% |
| Cash at bank and in hand | 54/58 | €34,806 | €38,764 | +€3,958 | +11.4% |
| Deferred charges and accrued income | 490/1 | €20,443 | €13,629 | -€6,814 | -33.3% |
| Total equity and liabilities | 10/49 | €79,904 | €77,810 | -€2,094 | -2.6% |
| Equity | 10/15 | €48,586 | €51,490 | +€2,904 | +6.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €4,764 | +€2,904 | +156% |
| 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 | - | €2,904 | +€2,904 | |
| Profit (loss) carried forward | 14 | €40,526 | €40,526 | = | 0.0% |
| Amounts payable | 17/49 | €31,318 | €26,320 | -€4,998 | -16.0% |
| Amounts payable within one year | 42/48 | €31,318 | €26,320 | -€4,998 | -16.0% |
| Current portion of amounts payable after more than one year | 42 | €1,197 | - | -€1,197 | |
| Trade debts | 44 | €21,429 | €15,566 | -€5,863 | -27.4% |
| Suppliers | 440/4 | €21,429 | €15,566 | -€5,863 | -27.4% |
| Taxes, remuneration and social security | 45 | €8,380 | €8,481 | +€101 | +1.2% |
| Taxes | 450/3 | €3,602 | €3,032 | -€570 | -15.8% |
| Remuneration and social security | 454/9 | €4,779 | €5,450 | +€671 | +14.0% |
| Other amounts payable | 47/48 | €312 | €2,272 | +€1,961 | +629% |
| Non-recurring operating income | 76A | €21,429 | - | -€21,429 | |
| Remuneration, social security and pensions | 62 | €10,826 | €23,282 | +€12,456 | +115% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,504 | €151 | -€6,354 | -97.7% |
| Other operating charges | 640/8 | €10,847 | €1,185 | -€9,662 | -89.1% |
| Gross operating margin | 9900 | €35,752 | €29,161 | -€6,592 | -18.4% |
| Operating profit (loss) | 9901 | €7,576 | €4,543 | -€3,033 | -40.0% |
| Financial income | 75/76B | €372 | €11 | -€361 | -96.9% |
| Recurring financial income | 75 | €372 | €11 | -€361 | -96.9% |
| Financial charges | 65/66B | €658 | €74 | -€584 | -88.8% |
| Recurring financial charges | 65 | €658 | €74 | -€584 | -88.8% |
| Profit (loss) for the period before taxes | 9903 | €7,290 | €4,481 | -€2,809 | -38.5% |
| Income taxes | 67/77 | €3,498 | €1,577 | -€1,921 | -54.9% |
| Profit (loss) for the period | 9904 | €3,792 | €2,904 | -€888 | -23.4% |
| Profit (loss) for the period to be appropriated | 9905 | €3,792 | €2,904 | -€888 | -23.4% |
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 15 October 2026 via checked.be.