Bakboord: 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.
Bakboord
Largest movements
- Tangible fixed assets -€17,986
down €17,986 (-16.1%), from €111,597 to €93,612
of which Plant, machinery and equipment: -€11,751
- Receivables within one year +€14,349
up €14,349 (+258%), from €5,565 to €19,914
of which Other amounts receivable: +€13,288
- Cash -€12,875
down €12,875 (-16.6%), from €77,601 to €64,726
mainly Contributions, distributions and other (-€30,000) and Investment in fixed assets (net) (-€14,447)
- Stocks and contracts +€2,702
up €2,702 (+55.2%), from €4,890 to €7,592
- Other debts +€30,598
up €30,598 (+2,173%), from €1,408 to €32,006
- Reserves -€26,175
down €26,175 (-27.5%), from €95,214 to €69,038
- Tax, wage and social debts -€8,227
down €8,227 (-89.5%), from €9,189 to €962
of which Taxes: -€8,227
- Debts after one year -€8,222
down €8,222 (-33.1%), from €24,868 to €16,646
- Staff costs +€62,342
up €62,342 (+65.0%), from €95,961 to €158,303
- Gross operating margin +€43,302
up €43,302 (+28.2%), from €153,649 to €196,950
- Depreciation +€10,376
up €10,376 (+47.0%), from €22,057 to €32,433
- Taxes -€8,087
down €8,087 (-86.5%), from €9,347 to €1,260
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 | €207,153 | €193,577 | -€13,576 | -6.6% |
| Fixed assets | 21/28 | €119,097 | €101,112 | -€17,986 | -15.1% |
| Tangible fixed assets | 22/27 | €111,597 | €93,612 | -€17,986 | -16.1% |
| Plant, machinery and equipment | 23 | €84,417 | €72,666 | -€11,751 | -13.9% |
| Furniture and vehicles | 24 | €5,878 | €3,813 | -€2,065 | -35.1% |
| Other tangible fixed assets | 26 | €21,302 | €17,132 | -€4,170 | -19.6% |
| Financial fixed assets | 28 | €7,500 | €7,500 | = | 0.0% |
| Current assets | 29/58 | €88,056 | €92,466 | +€4,410 | +5.0% |
| Stocks and contracts in progress | 3 | €4,890 | €7,592 | +€2,702 | +55.2% |
| Stocks | 30/36 | €4,890 | €7,592 | +€2,702 | +55.2% |
| Amounts receivable within one year | 40/41 | €5,565 | €19,914 | +€14,349 | +258% |
| Trade receivables | 40 | €786 | €1,847 | +€1,061 | +135% |
| Other amounts receivable | 41 | €4,779 | €18,067 | +€13,288 | +278% |
| Cash at bank and in hand | 54/58 | €77,601 | €64,726 | -€12,875 | -16.6% |
| Deferred charges and accrued income | 490/1 | €0 | €234 | +€234 | |
| Total equity and liabilities | 10/49 | €207,153 | €193,577 | -€13,576 | -6.6% |
| Equity | 10/15 | €141,214 | €115,038 | -€26,175 | -18.5% |
| Contributions | 10/11 | €46,000 | €46,000 | = | 0.0% |
| Reserves | 13 | €95,214 | €69,038 | -€26,175 | -27.5% |
| Distributable reserves | 133 | €95,214 | €69,038 | -€26,175 | -27.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €65,940 | €78,539 | +€12,599 | +19.1% |
| Amounts payable after more than one year | 17 | €24,868 | €16,646 | -€8,222 | -33.1% |
| Financial debts | 170/4 | €24,868 | €16,646 | -€8,222 | -33.1% |
| Amounts payable within one year | 42/48 | €41,072 | €61,893 | +€20,821 | +50.7% |
| Current portion of amounts payable after more than one year | 42 | €8,156 | €8,222 | +€66 | +0.8% |
| Trade debts | 44 | €22,320 | €20,703 | -€1,616 | -7.2% |
| Suppliers | 440/4 | €22,320 | €20,703 | -€1,616 | -7.2% |
| Taxes, remuneration and social security | 45 | €9,189 | €962 | -€8,227 | -89.5% |
| Taxes | 450/3 | €9,189 | €962 | -€8,227 | -89.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,408 | €32,006 | +€30,598 | +2,173% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €95,961 | €158,303 | +€62,342 | +65.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,057 | €32,433 | +€10,376 | +47.0% |
| Other operating charges | 640/8 | €409 | €776 | +€367 | +89.6% |
| Gross operating margin | 9900 | €153,649 | €196,950 | +€43,302 | +28.2% |
| Operating profit (loss) | 9901 | €35,221 | €5,438 | -€29,783 | -84.6% |
| Financial charges | 65/66B | €307 | €353 | +€46 | +15.1% |
| Recurring financial charges | 65 | €307 | €353 | +€46 | +15.1% |
| Profit (loss) for the period before taxes | 9903 | €34,914 | €5,085 | -€29,829 | -85.4% |
| Income taxes | 67/77 | €9,347 | €1,260 | -€8,087 | -86.5% |
| Profit (loss) for the period | 9904 | €25,568 | €3,825 | -€21,743 | -85.0% |
| Profit (loss) for the period to be appropriated | 9905 | €25,568 | €3,825 | -€21,743 | -85.0% |
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 29 October 2026 via checked.be.