BAKGOED: 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.
BAKGOED
Largest movements
- Tangible fixed assets +€41,078
up €41,078 (+29.2%), from €140,704 to €181,782
of which Furniture and vehicles: +€59,495
- Cash +€15,749
up €15,749 (+21.4%), from €73,591 to €89,340
mainly Debts after one year (+€40,716) and Depreciation (+€39,539)
- Receivables within one year +€12,859
up €12,859 (+756.5%), from €1,700 to €14,559
of which Other amounts receivable: +€14,559
- Intangible fixed assets -€4,294
no longer reported in 2025 (was €4,294)
- Debts after one year +€40,716
up €40,716 (+64.4%), from €63,234 to €103,951
- Profit (loss) carried forward +€28,687
up €28,687 (+25.9%), from €110,563 to €139,250
- Other debts -€11,438
no longer reported in 2025 (was €11,438)
- Current portion of long-term debt +€9,972
up €9,972 (+40.5%), from €24,646 to €34,618
- Tax, wage and social debts -€6,314
down €6,314 (-61.5%), from €10,272 to €3,959
of which Taxes: -€6,965
- Gross operating margin +€15,188
up €15,188 (+11.9%), from €127,444 to €142,632
- Staff costs +€13,369
up €13,369 (+38.1%), from €35,097 to €48,466
- Depreciation +€2,432
up €2,432 (+6.6%), from €37,107 to €39,539
- Financial charges +€2,373
up €2,373 (+80.4%), from €2,952 to €5,325
- Other operating charges -€1,968
down €1,968 (-92.7%), from €2,124 to €156
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 | €225,138 | €289,378 | +€64,239 | +28.5% |
| Fixed assets | 21/28 | €144,998 | €181,782 | +€36,784 | +25.4% |
| Intangible fixed assets | 21 | €4,294 | - | -€4,294 | |
| Tangible fixed assets | 22/27 | €140,704 | €181,782 | +€41,078 | +29.2% |
| Land and buildings | 22 | €8,513 | €7,547 | -€966 | -11.3% |
| Plant, machinery and equipment | 23 | €93,675 | €76,224 | -€17,451 | -18.6% |
| Furniture and vehicles | 24 | €38,516 | €98,011 | +€59,495 | +154.5% |
| Current assets | 29/58 | €80,141 | €107,595 | +€27,455 | +34.3% |
| Amounts receivable within one year | 40/41 | €1,700 | €14,559 | +€12,859 | +756.5% |
| Trade receivables | 40 | €1,700 | - | -€1,700 | |
| Other amounts receivable | 41 | - | €14,559 | +€14,559 | |
| Cash at bank and in hand | 54/58 | €73,591 | €89,340 | +€15,749 | +21.4% |
| Deferred charges and accrued income | 490/1 | €4,850 | €3,697 | -€1,153 | -23.8% |
| Total equity and liabilities | 10/49 | €225,138 | €289,378 | +€64,239 | +28.5% |
| Equity | 10/15 | €113,063 | €141,750 | +€28,687 | +25.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €110,563 | €139,250 | +€28,687 | +25.9% |
| Amounts payable | 17/49 | €112,076 | €147,628 | +€35,552 | +31.7% |
| Amounts payable after more than one year | 17 | €63,234 | €103,951 | +€40,716 | +64.4% |
| Financial debts | 170/4 | €63,234 | €103,951 | +€40,716 | +64.4% |
| Amounts payable within one year | 42/48 | €46,382 | €42,899 | -€3,483 | -7.5% |
| Current portion of amounts payable after more than one year | 42 | €24,646 | €34,618 | +€9,972 | +40.5% |
| Trade debts | 44 | €25 | €4,323 | +€4,298 | +17176.5% |
| Suppliers | 440/4 | €25 | €4,323 | +€4,298 | +17176.5% |
| Taxes, remuneration and social security | 45 | €10,272 | €3,959 | -€6,314 | -61.5% |
| Taxes | 450/3 | €6,965 | - | -€6,965 | |
| Remuneration and social security | 454/9 | €3,307 | €3,959 | +€651 | +19.7% |
| Other amounts payable | 47/48 | €11,438 | - | -€11,438 | |
| Accrued charges and deferred income | 492/3 | €2,460 | €779 | -€1,681 | -68.3% |
| Remuneration, social security and pensions | 62 | €35,097 | €48,466 | +€13,369 | +38.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,107 | €39,539 | +€2,432 | +6.6% |
| Other operating charges | 640/8 | €2,124 | €156 | -€1,968 | -92.7% |
| Non-recurring operating charges | 66A | - | €8,160 | +€8,160 | |
| Gross operating margin | 9900 | €127,444 | €142,632 | +€15,188 | +11.9% |
| Operating profit (loss) | 9901 | €53,116 | €46,311 | -€6,805 | -12.8% |
| Financial charges | 65/66B | €2,952 | €5,325 | +€2,373 | +80.4% |
| Recurring financial charges | 65 | €2,952 | €5,325 | +€2,373 | +80.4% |
| Profit (loss) for the period before taxes | 9903 | €50,165 | €40,986 | -€9,178 | -18.3% |
| Income taxes | 67/77 | €12,239 | €12,299 | +€61 | +0.5% |
| Profit (loss) for the period | 9904 | €37,926 | €28,687 | -€9,239 | -24.4% |
| Profit (loss) for the period to be appropriated | 9905 | €37,926 | €28,687 | -€9,239 | -24.4% |
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 9 October 2026 via checked.be.