Bakkerij MAX: 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.
Bakkerij MAX
Largest movements
- Current investments +€150,000
new in 2025: €150,000
- Cash -€108,611
down €108,611 (-48.8%), from €222,493 to €113,882
mainly Current investments (-€150,000) and Contributions, distributions and other (-€46,662)
- Tangible fixed assets -€63,629
down €63,629 (-15.6%), from €407,111 to €343,482
of which Plant, machinery and equipment: -€67,788
- Receivables within one year +€40,873
up €40,873 (+347%), from €11,781 to €52,655
of which Trade receivables: +€48,679
- Other debts +€39,884
new in 2025: €39,884
- Debts after one year -€37,874
down €37,874 (-20.7%), from €182,533 to €144,659
- Trade debts +€23,954
up €23,954 (+94.4%), from €25,387 to €49,341
- Staff costs +€33,977
up €33,977 (+11.8%), from €287,919 to €321,897
- Taxes -€11,448
down €11,448 (-32.4%), from €35,280 to €23,832
- Financial charges -€11,104
down €11,104 (-65.1%), from €17,047 to €5,943
- Depreciation +€7,435
up €7,435 (+8.3%), from €89,968 to €97,403
- Gross operating margin +€5,935
up €5,935 (+1.2%), from €491,514 to €497,449
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 | €660,405 | €678,695 | +€18,290 | +2.8% |
| Fixed assets | 21/28 | €407,111 | €343,482 | -€63,629 | -15.6% |
| Tangible fixed assets | 22/27 | €407,111 | €343,482 | -€63,629 | -15.6% |
| Land and buildings | 22 | €123,055 | €105,455 | -€17,600 | -14.3% |
| Plant, machinery and equipment | 23 | €284,056 | €216,268 | -€67,788 | -23.9% |
| Furniture and vehicles | 24 | - | €21,759 | +€21,759 | |
| Current assets | 29/58 | €253,293 | €335,212 | +€81,919 | +32.3% |
| Stocks and contracts in progress | 3 | €15,569 | €14,718 | -€851 | -5.5% |
| Stocks | 30/36 | €15,569 | €14,718 | -€851 | -5.5% |
| Amounts receivable within one year | 40/41 | €11,781 | €52,655 | +€40,873 | +347% |
| Trade receivables | 40 | €3,086 | €51,765 | +€48,679 | +1,577% |
| Other amounts receivable | 41 | €8,695 | €890 | -€7,805 | -89.8% |
| Current investments | 50/53 | - | €150,000 | +€150,000 | |
| Cash at bank and in hand | 54/58 | €222,493 | €113,882 | -€108,611 | -48.8% |
| Deferred charges and accrued income | 490/1 | €3,450 | €3,958 | +€508 | +14.7% |
| Total equity and liabilities | 10/49 | €660,405 | €678,695 | +€18,290 | +2.8% |
| Equity | 10/15 | €336,286 | €335,923 | -€363 | -0.1% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €305,286 | €304,923 | -€363 | -0.1% |
| Non-distributable reserves | 130/1 | €3,100 | €3,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,100 | €3,100 | = | 0.0% |
| Distributable reserves | 133 | €302,186 | €301,823 | -€363 | -0.1% |
| Amounts payable | 17/49 | €324,119 | €342,772 | +€18,653 | +5.8% |
| Amounts payable after more than one year | 17 | €182,533 | €144,659 | -€37,874 | -20.7% |
| Financial debts | 170/4 | €182,533 | €144,659 | -€37,874 | -20.7% |
| Amounts payable within one year | 42/48 | €141,539 | €198,112 | +€56,573 | +40.0% |
| Current portion of amounts payable after more than one year | 42 | €43,460 | €37,874 | -€5,586 | -12.9% |
| Trade debts | 44 | €25,387 | €49,341 | +€23,954 | +94.4% |
| Suppliers | 440/4 | €25,387 | €49,341 | +€23,954 | +94.4% |
| Advances received on contracts in progress | 46 | - | €2,259 | +€2,259 | |
| Taxes, remuneration and social security | 45 | €72,692 | €68,755 | -€3,937 | -5.4% |
| Taxes | 450/3 | €34,798 | €14,629 | -€20,169 | -58.0% |
| Remuneration and social security | 454/9 | €37,894 | €54,126 | +€16,232 | +42.8% |
| Other amounts payable | 47/48 | - | €39,884 | +€39,884 | |
| Accrued charges and deferred income | 492/3 | €46 | - | -€46 | |
| Non-recurring operating income | 76A | - | €3,254 | +€3,254 | |
| Remuneration, social security and pensions | 62 | €287,919 | €321,897 | +€33,977 | +11.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,968 | €97,403 | +€7,435 | +8.3% |
| Other operating charges | 640/8 | €2,653 | €2,601 | -€51 | -1.9% |
| Gross operating margin | 9900 | €491,514 | €497,449 | +€5,935 | +1.2% |
| Operating profit (loss) | 9901 | €110,974 | €75,548 | -€35,426 | -31.9% |
| Financial income | 75/76B | €2,804 | €525 | -€2,279 | -81.3% |
| Recurring financial income | 75 | €931 | €525 | -€406 | -43.6% |
| Non-recurring financial income | 76B | €1,873 | - | -€1,873 | |
| Financial charges | 65/66B | €17,047 | €5,943 | -€11,104 | -65.1% |
| Recurring financial charges | 65 | €17,047 | €5,943 | -€11,104 | -65.1% |
| Profit (loss) for the period before taxes | 9903 | €96,731 | €70,130 | -€26,601 | -27.5% |
| Income taxes | 67/77 | €35,280 | €23,832 | -€11,448 | -32.4% |
| Profit (loss) for the period | 9904 | €61,451 | €46,298 | -€15,153 | -24.7% |
| Profit (loss) for the period to be appropriated | 9905 | €61,451 | €46,298 | -€15,153 | -24.7% |
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 23 October 2026 via checked.be.