BAKKERIJ STEELANDT: 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 STEELANDT
Largest movements
- Cash -€11,077
down €11,077 (-10.0%), from €110,965 to €99,888
mainly Debts after one year (-€38,100) and Current portion of long-term debt (-€9,524)
- Tangible fixed assets -€10,153
down €10,153 (-3.8%), from €265,367 to €255,214
of which Other tangible fixed assets: -€6,986
- Deferred charges and accrued income +€7,630
up €7,630 (+157%), from €4,853 to €12,483
- Reserves +€49,000
up €49,000 (+140%), from €35,100 to €84,100
- Debts after one year -€38,100
down €38,100 (-13.8%), from €276,972 to €238,871
- Current portion of long-term debt -€9,524
down €9,524 (-20.0%), from €47,624 to €38,100
- Trade debts -€6,386
down €6,386 (-35.4%), from €18,019 to €11,633
- Tax, wage and social debts -€5,298
down €5,298 (-14.5%), from €36,494 to €31,196
of which Taxes: -€6,182
- Gross operating margin -€33,529
down €33,529 (-21.5%), from €156,240 to €122,711
- Staff costs -€16,066
down €16,066 (-40.4%), from €39,757 to €23,691
- Taxes -€2,908
down €2,908 (-11.3%), from €25,822 to €22,915
- Depreciation -€1,659
down €1,659 (-13.1%), from €12,679 to €11,020
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 | €414,266 | €404,011 | -€10,255 | -2.5% |
| Fixed assets | 21/28 | €265,367 | €255,214 | -€10,153 | -3.8% |
| Tangible fixed assets | 22/27 | €265,367 | €255,214 | -€10,153 | -3.8% |
| Land and buildings | 22 | €238,381 | €238,381 | = | 0.0% |
| Plant, machinery and equipment | 23 | €14,979 | €11,855 | -€3,124 | -20.9% |
| Furniture and vehicles | 24 | €43 | €0 | -€43 | -100% |
| Other tangible fixed assets | 26 | €11,964 | €4,978 | -€6,986 | -58.4% |
| Current assets | 29/58 | €148,899 | €148,797 | -€102 | -0.1% |
| Stocks and contracts in progress | 3 | €5,049 | €5,436 | +€387 | +7.7% |
| Stocks | 30/36 | €5,049 | €5,436 | +€387 | +7.7% |
| Amounts receivable within one year | 40/41 | €28,032 | €30,990 | +€2,957 | +10.6% |
| Trade receivables | 40 | - | €323 | +€323 | |
| Other amounts receivable | 41 | €28,032 | €30,667 | +€2,634 | +9.4% |
| Cash at bank and in hand | 54/58 | €110,965 | €99,888 | -€11,077 | -10.0% |
| Deferred charges and accrued income | 490/1 | €4,853 | €12,483 | +€7,630 | +157% |
| Total equity and liabilities | 10/49 | €414,266 | €404,011 | -€10,255 | -2.5% |
| Equity | 10/15 | €35,157 | €84,210 | +€49,052 | +140% |
| Reserves | 13 | €35,100 | €84,100 | +€49,000 | +140% |
| Distributable reserves | 133 | €35,100 | €84,100 | +€49,000 | +140% |
| Profit (loss) carried forward | 14 | €57 | €110 | +€52 | +91.6% |
| Amounts payable | 17/49 | €379,109 | €319,802 | -€59,308 | -15.6% |
| Amounts payable after more than one year | 17 | €276,972 | €238,871 | -€38,100 | -13.8% |
| Financial debts | 170/4 | €276,972 | €238,871 | -€38,100 | -13.8% |
| Amounts payable within one year | 42/48 | €102,137 | €80,930 | -€21,207 | -20.8% |
| Current portion of amounts payable after more than one year | 42 | €47,624 | €38,100 | -€9,524 | -20.0% |
| Trade debts | 44 | €18,019 | €11,633 | -€6,386 | -35.4% |
| Suppliers | 440/4 | €18,019 | €11,633 | -€6,386 | -35.4% |
| Taxes, remuneration and social security | 45 | €36,494 | €31,196 | -€5,298 | -14.5% |
| Taxes | 450/3 | €31,530 | €25,348 | -€6,182 | -19.6% |
| Remuneration and social security | 454/9 | €4,964 | €5,849 | +€884 | +17.8% |
| Non-recurring operating income | 76A | €1,500 | - | -€1,500 | |
| Remuneration, social security and pensions | 62 | €39,757 | €23,691 | -€16,066 | -40.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,679 | €11,020 | -€1,659 | -13.1% |
| Other operating charges | 640/8 | €4,582 | €4,896 | +€314 | +6.9% |
| Non-recurring operating charges | 66A | €1,750 | - | -€1,750 | |
| Gross operating margin | 9900 | €156,240 | €122,711 | -€33,529 | -21.5% |
| Operating profit (loss) | 9901 | €97,472 | €83,104 | -€14,368 | -14.7% |
| Financial income | 75/76B | €1,224 | €2,167 | +€942 | +77.0% |
| Recurring financial income | 75 | €1,224 | €2,167 | +€942 | +77.0% |
| Financial charges | 65/66B | €13,099 | €13,304 | +€205 | +1.6% |
| Recurring financial charges | 65 | €13,099 | €13,304 | +€205 | +1.6% |
| Profit (loss) for the period before taxes | 9903 | €85,597 | €71,967 | -€13,630 | -15.9% |
| Income taxes | 67/77 | €25,822 | €22,915 | -€2,908 | -11.3% |
| Profit (loss) for the period | 9904 | €59,775 | €49,052 | -€10,723 | -17.9% |
| Profit (loss) for the period to be appropriated | 9905 | €59,775 | €49,052 | -€10,723 | -17.9% |
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 26 October 2026 via checked.be.