BAKERMAN: 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.
BAKERMAN
Largest movements
- Tangible fixed assets -€13,046
down €13,046 (-4.8%), from €271,088 to €258,042
of which Land and buildings: -€14,960
- Receivables within one year -€11,584
down €11,584 (-22.8%), from €50,737 to €39,154
of which Trade receivables: -€11,733
- Cash +€11,317
up €11,317 (+13.9%), from €81,522 to €92,839
mainly Net result for the year (+€21,443) and Depreciation (+€19,109)
- Debts after one year -€25,531
down €25,531 (-13.1%), from €194,535 to €169,004
- Reserves +€21,443
up €21,443 (+13.8%), from €155,721 to €177,163
- Tax, wage and social debts -€7,048
down €7,048 (-42.0%), from €16,761 to €9,713
of which Taxes: -€6,990
- Short-term financial debts -€6,784
no longer reported in 2025 (was €6,784)
- Trade debts +€4,378
up €4,378 (+78.4%), from €5,581 to €9,959
- Gross operating margin -€4,301
down €4,301 (-5.6%), from €77,325 to €73,024
- Financial charges -€1,754
down €1,754 (-15.5%), from €11,325 to €9,572
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 | €423,410 | €409,822 | -€13,588 | -3.2% |
| Fixed assets | 21/28 | €283,455 | €270,409 | -€13,046 | -4.6% |
| Tangible fixed assets | 22/27 | €271,088 | €258,042 | -€13,046 | -4.8% |
| Land and buildings | 22 | €254,794 | €239,833 | -€14,960 | -5.9% |
| Plant, machinery and equipment | 23 | €2,866 | €2,174 | -€692 | -24.1% |
| Furniture and vehicles | 24 | €10,291 | €9,818 | -€473 | -4.6% |
| Other tangible fixed assets | 26 | €3,138 | €6,217 | +€3,079 | +98.1% |
| Financial fixed assets | 28 | €12,367 | €12,367 | = | 0.0% |
| Current assets | 29/58 | €139,955 | €139,413 | -€542 | -0.4% |
| Amounts receivable within one year | 40/41 | €50,737 | €39,154 | -€11,584 | -22.8% |
| Trade receivables | 40 | €43,642 | €31,910 | -€11,733 | -26.9% |
| Other amounts receivable | 41 | €7,095 | €7,244 | +€149 | +2.1% |
| Cash at bank and in hand | 54/58 | €81,522 | €92,839 | +€11,317 | +13.9% |
| Deferred charges and accrued income | 490/1 | €7,696 | €7,420 | -€275 | -3.6% |
| Total equity and liabilities | 10/49 | €423,410 | €409,822 | -€13,588 | -3.2% |
| Equity | 10/15 | €171,192 | €192,635 | +€21,443 | +12.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €155,721 | €177,163 | +€21,443 | +13.8% |
| Distributable reserves | 133 | €155,721 | €177,163 | +€21,443 | +13.8% |
| Profit (loss) carried forward | 14 | €3,072 | €3,072 | = | 0.0% |
| Amounts payable | 17/49 | €252,218 | €217,187 | -€35,030 | -13.9% |
| Amounts payable after more than one year | 17 | €194,535 | €169,004 | -€25,531 | -13.1% |
| Financial debts | 170/4 | €194,535 | €169,004 | -€25,531 | -13.1% |
| Amounts payable within one year | 42/48 | €56,617 | €47,070 | -€9,547 | -16.9% |
| Current portion of amounts payable after more than one year | 42 | €24,503 | €25,531 | +€1,028 | +4.2% |
| Financial debts | 43 | €6,784 | - | -€6,784 | |
| Credit institutions | 430/8 | €6,784 | - | -€6,784 | |
| Trade debts | 44 | €5,581 | €9,959 | +€4,378 | +78.4% |
| Suppliers | 440/4 | €5,581 | €9,959 | +€4,378 | +78.4% |
| Taxes, remuneration and social security | 45 | €16,761 | €9,713 | -€7,048 | -42.0% |
| Taxes | 450/3 | €16,594 | €9,604 | -€6,990 | -42.1% |
| Remuneration and social security | 454/9 | €167 | €109 | -€58 | -34.6% |
| Other amounts payable | 47/48 | €2,987 | €1,866 | -€1,121 | -37.5% |
| Accrued charges and deferred income | 492/3 | €1,066 | €1,114 | +€48 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,167 | €19,109 | -€58 | -0.3% |
| Other operating charges | 640/8 | €3,277 | €2,859 | -€417 | -12.7% |
| Gross operating margin | 9900 | €77,325 | €73,024 | -€4,301 | -5.6% |
| Operating profit (loss) | 9901 | €54,882 | €51,056 | -€3,826 | -7.0% |
| Financial income | 75/76B | €122 | €26 | -€96 | -78.4% |
| Recurring financial income | 75 | €122 | €26 | -€96 | -78.4% |
| Financial charges | 65/66B | €11,325 | €9,572 | -€1,754 | -15.5% |
| Recurring financial charges | 65 | €11,325 | €9,572 | -€1,754 | -15.5% |
| Profit (loss) for the period before taxes | 9903 | €43,679 | €41,511 | -€2,168 | -5.0% |
| Income taxes | 67/77 | €20,639 | €20,069 | -€570 | -2.8% |
| Profit (loss) for the period | 9904 | €23,040 | €21,443 | -€1,598 | -6.9% |
| Profit (loss) for the period to be appropriated | 9905 | €23,040 | €21,443 | -€1,598 | -6.9% |
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 12 October 2026 via checked.be.