BAKKTZ: 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.
What changed
BAKKTZ
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€4.6m
2024 · -€400,514+€5.0m
Equity
€8.9m
2024 · €4.2m+€4.6m
Cash
€3,077
2024 · €1,793+€1,283
Balance sheet total
€15.8m
2024 · €13.7m+€2.1m
Largest movements
Assets
- Receivables within one year +€2.1m
up €2.1m (+212%), from €1.0m to €3.2m
Equity and liabilities
- Reserves +€4.6m
up €4.6m (+264%), from €1.7m to €6.4m
of which Distributable reserves: +€4.5m
- Debts after one year -€2.5m
down €2.5m (-28.8%), from €8.6m to €6.2m
Income statement
- Financial income +€4.9m
up €4.9m (+39,445%), from €12,316 to €4.9m
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.
Result 2024
-€400,514
Other operating charges
+€3,073
Other operating items
-€2,236
Financial income
+€4.9m
Financial charges
+€153,151
Taxes
+€50
Result 2025
€4.6m
raises the resultnot broken down further in the accounts
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.
From operations
+€2.5m
Investment
€0
Financing
-€2.5m
Cash 2024
€1,793
From operations (derived)
+€2.5m
Net result for the year
+€4.6m
Receivables within one year
-€2.1m
Smaller working-capital items
+€3,748
Other debts
+€14,000
Financing
-€2.5m
Debts after one year
-€2.5m
Cash 2025
€3,077
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,697,997 | €15,841,557 | +€2.1m | +15.6% |
| Fixed assets | 21/28 | €12,683,888 | €12,683,888 | = | 0.0% |
| Financial fixed assets | 28 | €12,683,888 | €12,683,888 | = | 0.0% |
| Affiliated companies | 280/1 | €12,683,888 | €12,683,888 | = | 0.0% |
| Participating interests | 280 | €12,683,888 | €12,683,888 | = | 0.0% |
| Current assets | 29/58 | €1,014,109 | €3,157,669 | +€2.1m | +211% |
| Amounts receivable within one year | 40/41 | €1,012,316 | €3,154,524 | +€2.1m | +212% |
| Other amounts receivable | 41 | €1,012,316 | €3,154,524 | +€2.1m | +212% |
| Cash at bank and in hand | 54/58 | €1,793 | €3,077 | +€1,283 | +71.6% |
| Deferred charges and accrued income | 490/1 | - | €69 | +€69 | |
| Total equity and liabilities | 10/49 | €13,697,997 | €15,841,557 | +€2.1m | +15.6% |
| Equity | 10/15 | €4,247,320 | €8,858,721 | +€4.6m | +109% |
| Contributions | 10/11 | €2,500,000 | €2,500,000 | = | 0.0% |
| Capital | 10 | €2,500,000 | €2,500,000 | = | 0.0% |
| Issued capital | 100 | €2,500,000 | €2,500,000 | = | 0.0% |
| Reserves | 13 | €1,747,320 | €6,358,721 | +€4.6m | +264% |
| Non-distributable reserves | 130/1 | €131,795 | €250,000 | +€118,205 | +89.7% |
| Legal reserve | 130 | €131,795 | €250,000 | +€118,205 | +89.7% |
| Distributable reserves | 133 | €1,615,525 | €6,108,721 | +€4.5m | +278% |
| Amounts payable | 17/49 | €9,450,677 | €6,982,837 | -€2.5m | -26.1% |
| Amounts payable after more than one year | 17 | €8,638,970 | €6,153,313 | -€2.5m | -28.8% |
| Financial debts | 170/4 | €8,638,970 | €6,153,313 | -€2.5m | -28.8% |
| Other loans | 174 | €8,638,970 | €6,153,313 | -€2.5m | -28.8% |
| Amounts payable within one year | 42/48 | €811,707 | €828,567 | +€16,860 | +2.1% |
| Trade debts | 44 | €1,965 | €4,825 | +€2,860 | +146% |
| Suppliers | 440/4 | €1,965 | €4,825 | +€2,860 | +146% |
| Other amounts payable | 47/48 | €809,742 | €823,742 | +€14,000 | +1.7% |
| Accrued charges and deferred income | 492/3 | - | €957 | +€957 | |
| Operating charges | 60/66A | €7,832 | €6,995 | -€836 | -10.7% |
| Services and other goods | 61 | €3,750 | €5,986 | +€2,236 | +59.6% |
| Other operating charges | 640/8 | €4,081 | €1,009 | -€3,073 | -75.3% |
| Operating profit (loss) | 9901 | -€7,832 | -€6,995 | +€836 | +10.7% |
| Financial income | 75/76B | €12,316 | €4,870,192 | +€4.9m | +39,445% |
| Recurring financial income | 75 | €12,316 | €4,870,192 | +€4.9m | +39,445% |
| Income from financial fixed assets | 750 | - | €4,802,150 | +€4.8m | |
| Income from current assets | 751 | €12,316 | €68,043 | +€55,727 | +452% |
| Financial charges | 65/66B | €404,948 | €251,797 | -€153,151 | -37.8% |
| Recurring financial charges | 65 | €404,948 | €251,797 | -€153,151 | -37.8% |
| Debt charges | 650 | €404,948 | €251,797 | -€153,151 | -37.8% |
| Profit (loss) for the period before taxes | 9903 | -€400,464 | €4,611,401 | +€5.0m | |
| Income taxes | 67/77 | €50 | - | -€50 | |
| Taxes | 670/3 | €50 | - | -€50 | |
| Profit (loss) for the period | 9904 | -€400,514 | €4,611,401 | +€5.0m | |
| Profit (loss) for the period to be appropriated | 9905 | -€400,514 | €4,611,401 | +€5.0m |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 October 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.