BAKER: 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.
BAKER
Largest movements
- Tangible fixed assets -€17,595
down €17,595 (-3.3%), from €537,471 to €519,876
of which Land and buildings: -€14,000
- Receivables within one year -€7,529
down €7,529 (-51.5%), from €14,609 to €7,080
of which Other amounts receivable: -€5,800
- Debts after one year -€20,000
down €20,000 (-5.7%), from €350,000 to €330,000
- Financial income +€23,193
new in 2025: €23,193
- Gross operating margin -€7,469
down €7,469 (-24.7%), from €30,204 to €22,735
- Financial charges +€854
up €854 (+2.6%), from €32,376 to €33,230
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 | €588,820 | €560,715 | -€28,105 | -4.8% |
| Fixed assets | 21/28 | €537,471 | €519,876 | -€17,595 | -3.3% |
| Tangible fixed assets | 22/27 | €537,471 | €519,876 | -€17,595 | -3.3% |
| Land and buildings | 22 | €474,000 | €460,000 | -€14,000 | -3.0% |
| Plant, machinery and equipment | 23 | €1,896 | €1,542 | -€354 | -18.7% |
| Other tangible fixed assets | 26 | €61,575 | €58,334 | -€3,241 | -5.3% |
| Current assets | 29/58 | €51,349 | €40,839 | -€10,510 | -20.5% |
| Amounts receivable within one year | 40/41 | €14,609 | €7,080 | -€7,529 | -51.5% |
| Trade receivables | 40 | €1,729 | - | -€1,729 | |
| Other amounts receivable | 41 | €12,880 | €7,080 | -€5,800 | -45.0% |
| Cash at bank and in hand | 54/58 | €36,740 | €33,759 | -€2,981 | -8.1% |
| Total equity and liabilities | 10/49 | €588,820 | €560,715 | -€28,105 | -4.8% |
| Equity | 10/15 | €172,966 | €168,069 | -€4,897 | -2.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €151,860 | €151,860 | = | 0.0% |
| 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 | €150,000 | €150,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,506 | -€2,391 | -€4,897 | |
| Amounts payable | 17/49 | €415,854 | €392,646 | -€23,208 | -5.6% |
| Amounts payable after more than one year | 17 | €350,000 | €330,000 | -€20,000 | -5.7% |
| Financial debts | 170/4 | €350,000 | €330,000 | -€20,000 | -5.7% |
| Amounts payable within one year | 42/48 | €65,854 | €62,646 | -€3,208 | -4.9% |
| Current portion of amounts payable after more than one year | 42 | €24,594 | €23,526 | -€1,068 | -4.3% |
| Trade debts | 44 | €12,809 | €8,040 | -€4,769 | -37.2% |
| Suppliers | 440/4 | €12,809 | €8,040 | -€4,769 | -37.2% |
| Taxes, remuneration and social security | 45 | €3,284 | €5,913 | +€2,629 | +80.1% |
| Taxes | 450/3 | €3,284 | €5,913 | +€2,629 | +80.1% |
| Other amounts payable | 47/48 | €25,167 | €25,167 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,595 | €17,595 | = | 0.0% |
| Gross operating margin | 9900 | €30,204 | €22,735 | -€7,469 | -24.7% |
| Operating profit (loss) | 9901 | €12,609 | €5,140 | -€7,469 | -59.2% |
| Financial income | 75/76B | - | €23,193 | +€23,193 | |
| Recurring financial income | 75 | - | €23,193 | +€23,193 | |
| Financial charges | 65/66B | €32,376 | €33,230 | +€854 | +2.6% |
| Recurring financial charges | 65 | €32,376 | €33,230 | +€854 | +2.6% |
| Profit (loss) for the period before taxes | 9903 | -€19,767 | -€4,897 | +€14,870 | +75.2% |
| Profit (loss) for the period | 9904 | -€19,767 | -€4,897 | +€14,870 | +75.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,767 | -€4,897 | +€14,870 | +75.2% |
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.