BAKUNI: 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
BAKUNI
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€34,644
2024 · €18,922+€15,722
Equity
€1.0m
2024 · €1.0m+€34,644
Cash
€123,390
2024 · €130,842-€7,453
Balance sheet total
€1.4m
2024 · €1.4m-€15,411
Largest movements
Assets
- Tangible fixed assets -€44,940
down €44,940 (-4.7%), from €955,952 to €911,012
- Receivables within one year +€35,933
up €35,933 (+14.0%), from €256,134 to €292,068
of which Other amounts receivable: +€36,078
Equity and liabilities
- Profit (loss) carried forward +€43,433
up €43,433 (+52.4%), from €82,834 to €126,268
- Debts after one year -€38,749
down €38,749 (-36.0%), from €107,650 to €68,901
of which Financial debts: -€38,749
Income statement
- Depreciation -€10,594
down €10,594 (-17.0%), from €62,261 to €51,667
- Gross operating margin +€5,141
up €5,141 (+5.7%), from €90,778 to €95,918
- Financial charges -€3,302
down €3,302 (-37.9%), from €8,713 to €5,411
- Taxes +€1,367
up €1,367 (+9.8%), from €13,925 to €15,293
- Financial income +€1,134
up €1,134 (+7.0%), from €16,193 to €17,327
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
€18,922
Gross operating margin
+€5,141
Depreciation
+€10,594
Other operating charges
-€687
Financial income
+€1,134
Financial charges
+€3,302
Taxes
-€1,367
Deferred taxes and other
-€2,393
Result 2025
€34,644
raises the resultlowers 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
+€38,923
Investment
-€6,727
Financing
-€39,649
Cash 2024
€130,842
From operations (derived)
+€38,923
Net result for the year
+€34,644
Depreciation
+€51,667
Receivables within one year
-€35,933
Deferred charges and accrued income
-€1,048
Provisions
-€3,692
Trade debts
+€4,966
Tax, wage and social debts
-€2,578
Other debts
-€6,195
Accrued charges and deferred income
-€2,908
Investment (derived)
-€6,727
Investment in fixed assets (net)
-€6,727
Financing
-€39,649
Debts after one year
-€38,749
Current portion of long-term debt
-€900
Cash 2025
€123,390
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,375,884 | €1,360,472 | -€15,411 | -1.1% |
| Fixed assets | 21/28 | €955,952 | €911,012 | -€44,940 | -4.7% |
| Tangible fixed assets | 22/27 | €955,952 | €911,012 | -€44,940 | -4.7% |
| Land and buildings | 22 | €955,952 | €911,012 | -€44,940 | -4.7% |
| Current assets | 29/58 | €419,932 | €449,461 | +€29,529 | +7.0% |
| Amounts receivable within one year | 40/41 | €256,134 | €292,068 | +€35,933 | +14.0% |
| Trade receivables | 40 | €145 | €0 | -€145 | -100% |
| Other amounts receivable | 41 | €255,989 | €292,068 | +€36,078 | +14.1% |
| Cash at bank and in hand | 54/58 | €130,842 | €123,390 | -€7,453 | -5.7% |
| Deferred charges and accrued income | 490/1 | €32,955 | €34,003 | +€1,048 | +3.2% |
| Total equity and liabilities | 10/49 | €1,375,884 | €1,360,472 | -€15,411 | -1.1% |
| Equity | 10/15 | €1,001,506 | €1,036,151 | +€34,644 | +3.5% |
| Contributions | 10/11 | €421,419 | €421,419 | = | 0.0% |
| Capital | 10 | €421,419 | €421,419 | = | 0.0% |
| Issued capital | 100 | €421,419 | €421,419 | = | 0.0% |
| Reserves | 13 | €497,253 | €488,464 | -€8,789 | -1.8% |
| Non-distributable reserves | 130/1 | €33,621 | €35,907 | +€2,286 | +6.8% |
| Legal reserve | 130 | €33,621 | €35,907 | +€2,286 | +6.8% |
| Tax-exempt reserves | 132 | €463,632 | €452,557 | -€11,075 | -2.4% |
| Profit (loss) carried forward | 14 | €82,834 | €126,268 | +€43,433 | +52.4% |
| Provisions and deferred taxes | 16 | €154,544 | €150,852 | -€3,692 | -2.4% |
| Deferred taxes | 168 | €154,544 | €150,852 | -€3,692 | -2.4% |
| Amounts payable | 17/49 | €219,833 | €173,469 | -€46,364 | -21.1% |
| Amounts payable after more than one year | 17 | €107,650 | €68,901 | -€38,749 | -36.0% |
| Financial debts | 170/4 | €106,150 | €67,401 | -€38,749 | -36.5% |
| Other amounts payable | 178/9 | €1,500 | €1,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €103,414 | €98,707 | -€4,707 | -4.6% |
| Current portion of amounts payable after more than one year | 42 | €39,486 | €38,585 | -€900 | -2.3% |
| Trade debts | 44 | €68 | €5,035 | +€4,966 | +7,251% |
| Suppliers | 440/4 | €68 | €5,035 | +€4,966 | +7,251% |
| Taxes, remuneration and social security | 45 | €20,985 | €18,407 | -€2,578 | -12.3% |
| Taxes | 450/3 | €20,985 | €18,407 | -€2,578 | -12.3% |
| Other amounts payable | 47/48 | €42,875 | €36,681 | -€6,195 | -14.4% |
| Accrued charges and deferred income | 492/3 | €8,769 | €5,861 | -€2,908 | -33.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,261 | €51,667 | -€10,594 | -17.0% |
| Other operating charges | 640/8 | €9,235 | €9,922 | +€687 | +7.4% |
| Gross operating margin | 9900 | €90,778 | €95,918 | +€5,141 | +5.7% |
| Operating profit (loss) | 9901 | €19,282 | €34,330 | +€15,047 | +78.0% |
| Financial income | 75/76B | €16,193 | €17,327 | +€1,134 | +7.0% |
| Recurring financial income | 75 | €16,193 | €17,327 | +€1,134 | +7.0% |
| Financial charges | 65/66B | €8,713 | €5,411 | -€3,302 | -37.9% |
| Recurring financial charges | 65 | €8,713 | €5,411 | -€3,302 | -37.9% |
| Profit (loss) for the period before taxes | 9903 | €26,762 | €46,245 | +€19,483 | +72.8% |
| Transfer from deferred taxes | 780 | €6,085 | €3,692 | -€2,393 | -39.3% |
| Income taxes | 67/77 | €13,925 | €15,293 | +€1,367 | +9.8% |
| Profit (loss) for the period | 9904 | €18,922 | €34,644 | +€15,722 | +83.1% |
| Transfer from tax-exempt reserves | 789 | €18,254 | €11,075 | -€7,179 | -39.3% |
| Profit (loss) for the period to be appropriated | 9905 | €37,176 | €45,719 | +€8,543 | +23.0% |
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 17 October 2026 via checked.be.