BAKSEL: what changed
Two fiscal 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.
BAKSEL
Largest movements
- Cash +€27,137
up €27,137 (+161.7%), from €16,785 to €43,922
mainly Depreciation (+€24,855) and Net result for the year (+€21,856)
- Tangible fixed assets -€17,398
down €17,398 (-16.0%), from €108,762 to €91,365
- Stocks and contracts +€11,656
up €11,656 (+92.6%), from €12,583 to €24,239
- Deferred charges and accrued income +€5,500
up €5,500 (+187.9%), from €2,928 to €8,429
- Receivables within one year +€4,920
up €4,920 (+15.0%), from €32,733 to €37,653
of which Trade receivables: +€9,152
- Reserves +€21,856
up €21,856 (+40.4%), from €54,155 to €76,011
- Trade debts +€12,985
up €12,985 (+83.4%), from €15,563 to €28,549
- Debts after one year -€9,996
down €9,996 (-30.8%), from €32,507 to €22,511
- Tax, wage and social debts +€6,864
up €6,864 (+122.3%), from €5,613 to €12,477
of which Remuneration and social security: +€8,999
- Other debts +€2,459
up €2,459 (+4.5%), from €54,434 to €56,893
- Gross operating margin +€65,801
up €65,801 (+168.2%), from €39,115 to €104,916
- Staff costs +€47,121
up €47,121 (+1101.6%), from €4,278 to €51,399
- Depreciation +€9,678
up €9,678 (+63.8%), from €15,176 to €24,855
- Taxes +€2,378
up €2,378 (+85.9%), from €2,769 to €5,147
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €173,801 | €208,503 | +€34,702 | +20.0% |
| Fixed assets | 21/28 | €108,772 | €94,261 | -€14,511 | -13.3% |
| Intangible fixed assets | 21 | - | €2,881 | +€2,881 | |
| Tangible fixed assets | 22/27 | €108,762 | €91,365 | -€17,398 | -16.0% |
| Plant, machinery and equipment | 23 | €54,014 | €46,606 | -€7,408 | -13.7% |
| Furniture and vehicles | 24 | €24,054 | €17,254 | -€6,799 | -28.3% |
| Other tangible fixed assets | 26 | €30,695 | €27,504 | -€3,191 | -10.4% |
| Financial fixed assets | 28 | €10 | €15 | +€5 | +50.0% |
| Current assets | 29/58 | €65,029 | €114,242 | +€49,213 | +75.7% |
| Stocks and contracts in progress | 3 | €12,583 | €24,239 | +€11,656 | +92.6% |
| Stocks | 30/36 | €12,583 | €24,239 | +€11,656 | +92.6% |
| Amounts receivable within one year | 40/41 | €32,733 | €37,653 | +€4,920 | +15.0% |
| Trade receivables | 40 | €26,168 | €35,319 | +€9,152 | +35.0% |
| Other amounts receivable | 41 | €6,566 | €2,334 | -€4,232 | -64.5% |
| Cash at bank and in hand | 54/58 | €16,785 | €43,922 | +€27,137 | +161.7% |
| Deferred charges and accrued income | 490/1 | €2,928 | €8,429 | +€5,500 | +187.9% |
| Total equity and liabilities | 10/49 | €173,801 | €208,503 | +€34,702 | +20.0% |
| Equity | 10/15 | €55,155 | €77,011 | +€21,856 | +39.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €54,155 | €76,011 | +€21,856 | +40.4% |
| Distributable reserves | 133 | €54,155 | €76,011 | +€21,856 | +40.4% |
| Amounts payable | 17/49 | €118,646 | €131,492 | +€12,846 | +10.8% |
| Amounts payable after more than one year | 17 | €32,507 | €22,511 | -€9,996 | -30.8% |
| Financial debts | 170/4 | €32,507 | €22,511 | -€9,996 | -30.8% |
| Amounts payable within one year | 42/48 | €86,139 | €108,981 | +€22,842 | +26.5% |
| Current portion of amounts payable after more than one year | 42 | €9,996 | €9,996 | = | 0.0% |
| Financial debts | 43 | €533 | €1,067 | +€534 | +100.3% |
| Credit institutions | 430/8 | €533 | €1,067 | +€534 | +100.3% |
| Trade debts | 44 | €15,563 | €28,549 | +€12,985 | +83.4% |
| Suppliers | 440/4 | €15,563 | €28,549 | +€12,985 | +83.4% |
| Taxes, remuneration and social security | 45 | €5,613 | €12,477 | +€6,864 | +122.3% |
| Taxes | 450/3 | €3,065 | €930 | -€2,135 | -69.7% |
| Remuneration and social security | 454/9 | €2,549 | €11,548 | +€8,999 | +353.1% |
| Other amounts payable | 47/48 | €54,434 | €56,893 | +€2,459 | +4.5% |
| Non-recurring operating income | 76A | €2,070 | €0 | -€2,070 | -100.0% |
| Remuneration, social security and pensions | 62 | €4,278 | €51,399 | +€47,121 | +1101.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,176 | €24,855 | +€9,678 | +63.8% |
| Other operating charges | 640/8 | €1,885 | €1,137 | -€748 | -39.7% |
| Gross operating margin | 9900 | €39,115 | €104,916 | +€65,801 | +168.2% |
| Operating profit (loss) | 9901 | €17,776 | €27,525 | +€9,749 | +54.8% |
| Financial income | 75/76B | €156 | €245 | +€89 | +57.4% |
| Recurring financial income | 75 | €156 | €245 | +€89 | +57.4% |
| Financial charges | 65/66B | €335 | €768 | +€432 | +128.8% |
| Recurring financial charges | 65 | €335 | €768 | +€432 | +128.8% |
| Profit (loss) for the period before taxes | 9903 | €17,596 | €27,002 | +€9,406 | +53.5% |
| Income taxes | 67/77 | €2,769 | €5,147 | +€2,378 | +85.9% |
| Profit (loss) for the period | 9904 | €14,828 | €21,856 | +€7,028 | +47.4% |
| Profit (loss) for the period to be appropriated | 9905 | €14,828 | €21,856 | +€7,028 | +47.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.