BAKLAWA: 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.
BAKLAWA
Largest movements
- Tangible fixed assets +€10,901
up €10,901 (+660%), from €1,651 to €12,552
- Cash +€8,311
up €8,311 (+49.0%), from €16,958 to €25,269
mainly Trade debts (+€9,935) and Other debts (+€9,507)
- Receivables within one year -€2,038
down €2,038 (-61.6%), from €3,307 to €1,269
of which Trade receivables: -€2,066
- Trade debts +€9,935
up €9,935 (+307%), from €3,235 to €13,170
- Other debts +€9,507
up €9,507 (+324%), from €2,939 to €12,446
- Profit (loss) carried forward -€5,786
down €5,786 (-114%), from -€5,072 to -€10,857
- Tax, wage and social debts +€3,517
up €3,517 (+17.2%), from €20,499 to €24,016
of which Remuneration and social security: +€3,436
- Staff costs +€9,159
up €9,159 (+23.2%), from €39,439 to €48,598
- Gross operating margin -€6,871
down €6,871 (-12.9%), from €53,170 to €46,299
- Depreciation +€1,641
up €1,641 (+339%), from €484 to €2,125
- Other operating charges +€699
up €699 (+122%), from €575 to €1,274
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 | €27,601 | €44,775 | +€17,174 | +62.2% |
| Fixed assets | 21/28 | €7,201 | €18,102 | +€10,901 | +151% |
| Tangible fixed assets | 22/27 | €1,651 | €12,552 | +€10,901 | +660% |
| Furniture and vehicles | 24 | €1,651 | €12,552 | +€10,901 | +660% |
| Financial fixed assets | 28 | €5,550 | €5,550 | = | 0.0% |
| Current assets | 29/58 | €20,400 | €26,673 | +€6,273 | +30.8% |
| Amounts receivable within one year | 40/41 | €3,307 | €1,269 | -€2,038 | -61.6% |
| Trade receivables | 40 | €2,211 | €145 | -€2,066 | -93.4% |
| Other amounts receivable | 41 | €1,096 | €1,124 | +€28 | +2.6% |
| Cash at bank and in hand | 54/58 | €16,958 | €25,269 | +€8,311 | +49.0% |
| Deferred charges and accrued income | 490/1 | €135 | €135 | = | 0.0% |
| Total equity and liabilities | 10/49 | €27,601 | €44,775 | +€17,174 | +62.2% |
| Equity | 10/15 | €928 | -€4,857 | -€5,786 | |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,072 | -€10,857 | -€5,786 | -114% |
| Amounts payable | 17/49 | €26,673 | €49,633 | +€22,959 | +86.1% |
| Amounts payable within one year | 42/48 | €26,673 | €49,633 | +€22,959 | +86.1% |
| Trade debts | 44 | €3,235 | €13,170 | +€9,935 | +307% |
| Suppliers | 440/4 | €3,235 | €13,170 | +€9,935 | +307% |
| Taxes, remuneration and social security | 45 | €20,499 | €24,016 | +€3,517 | +17.2% |
| Taxes | 450/3 | €25 | €105 | +€81 | +329% |
| Remuneration and social security | 454/9 | €20,475 | €23,911 | +€3,436 | +16.8% |
| Other amounts payable | 47/48 | €2,939 | €12,446 | +€9,507 | +324% |
| Remuneration, social security and pensions | 62 | €39,439 | €48,598 | +€9,159 | +23.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €484 | €2,125 | +€1,641 | +339% |
| Other operating charges | 640/8 | €575 | €1,274 | +€699 | +122% |
| Gross operating margin | 9900 | €53,170 | €46,299 | -€6,871 | -12.9% |
| Operating profit (loss) | 9901 | €12,672 | -€5,698 | -€18,369 | |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €136 | €90 | -€46 | -34.0% |
| Recurring financial charges | 65 | €46 | €90 | +€44 | +94.3% |
| Non-recurring financial charges | 66B | €90 | - | -€90 | |
| Profit (loss) for the period before taxes | 9903 | €12,536 | -€5,786 | -€18,321 | |
| Profit (loss) for the period | 9904 | €12,536 | -€5,786 | -€18,321 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,536 | -€5,786 | -€18,321 |
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 19 October 2026 via checked.be.