BAKCO: 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.
BAKCO
Largest movements
- Tangible fixed assets +€358,184
up €358,184 (+1167.6%), from €30,678 to €388,862
of which Land and buildings: +€359,494
- Cash +€27,172
up €27,172 (+58.6%), from €46,334 to €73,506
mainly Net result for the year (+€276,805) and Provisions (+€99,582)
- Intangible fixed assets -€12,657
down €12,657 (-25.0%), from €50,630 to €37,972
- Reserves +€298,746
up €298,746 (+937.8%), from €31,855 to €330,601
of which Tax-exempt reserves: +€298,746
- Provisions +€99,582
new in 2025: €99,582
- Profit (loss) carried forward -€21,941
down €21,941 (-30.8%), from €71,142 to €49,201
- Gross operating margin +€395,325
up €395,325 (+14471.1%), from €2,732 to €398,057
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 | €133,770 | €505,882 | +€372,112 | +278.2% |
| Fixed assets | 21/28 | €84,082 | €429,608 | +€345,526 | +410.9% |
| Intangible fixed assets | 21 | €50,630 | €37,972 | -€12,657 | -25.0% |
| Tangible fixed assets | 22/27 | €30,678 | €388,862 | +€358,184 | +1167.6% |
| Land and buildings | 22 | €27,829 | €387,322 | +€359,494 | +1291.8% |
| Plant, machinery and equipment | 23 | €2,771 | €1,540 | -€1,232 | -44.4% |
| Furniture and vehicles | 24 | €78 | - | -€78 | |
| Financial fixed assets | 28 | €2,774 | €2,774 | = | 0.0% |
| Current assets | 29/58 | €49,688 | €76,274 | +€26,586 | +53.5% |
| Amounts receivable within one year | 40/41 | €3,354 | €2,768 | -€587 | -17.5% |
| Trade receivables | 40 | €3,347 | €2,768 | -€579 | -17.3% |
| Other amounts receivable | 41 | €8 | - | -€8 | |
| Cash at bank and in hand | 54/58 | €46,334 | €73,506 | +€27,172 | +58.6% |
| Total equity and liabilities | 10/49 | €133,770 | €505,882 | +€372,112 | +278.2% |
| Equity | 10/15 | €121,547 | €398,352 | +€276,805 | +227.7% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €31,855 | €330,601 | +€298,746 | +937.8% |
| Tax-exempt reserves | 132 | - | €298,746 | +€298,746 | |
| Distributable reserves | 133 | €31,855 | €31,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €71,142 | €49,201 | -€21,941 | -30.8% |
| Provisions and deferred taxes | 16 | - | €99,582 | +€99,582 | |
| Deferred taxes | 168 | - | €99,582 | +€99,582 | |
| Amounts payable | 17/49 | €12,222 | €7,948 | -€4,274 | -35.0% |
| Amounts payable within one year | 42/48 | €12,222 | €7,948 | -€4,274 | -35.0% |
| Current portion of amounts payable after more than one year | 42 | €1,100 | - | -€1,100 | |
| Trade debts | 44 | €2,126 | €3,415 | +€1,289 | +60.6% |
| Suppliers | 440/4 | €2,126 | €3,415 | +€1,289 | +60.6% |
| Other amounts payable | 47/48 | €8,997 | €4,533 | -€4,463 | -49.6% |
| Non-recurring operating income | 76A | - | €419,947 | +€419,947 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,298 | €16,271 | +€973 | +6.4% |
| Other operating charges | 640/8 | €4,048 | €4,906 | +€858 | +21.2% |
| Gross operating margin | 9900 | €2,732 | €398,057 | +€395,325 | +14471.1% |
| Operating profit (loss) | 9901 | -€16,614 | €376,880 | +€393,494 | |
| Financial income | 75/76B | - | €6 | +€6 | |
| Recurring financial income | 75 | - | €6 | +€6 | |
| Financial charges | 65/66B | €288 | €500 | +€212 | +73.5% |
| Recurring financial charges | 65 | €288 | €500 | +€212 | +73.5% |
| Profit (loss) for the period before taxes | 9903 | -€16,902 | €376,387 | +€393,289 | |
| Transfer from deferred taxes | 780 | - | €526 | +€526 | |
| Transfer to deferred taxes | 680 | - | €100,108 | +€100,108 | |
| Profit (loss) for the period | 9904 | -€16,902 | €276,805 | +€293,707 | |
| Transfer from tax-exempt reserves | 789 | - | €1,578 | +€1,578 | |
| Transfer to tax-exempt reserves | 689 | - | €300,323 | +€300,323 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,902 | -€21,941 | -€5,039 | -29.8% |
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 4 October 2026 via checked.be.