Balako: 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.
Balako
Largest movements
- Receivables within one year -€14,066
down €14,066 (-19.2%), from €73,158 to €59,091
of which Trade receivables: -€10,083
- Cash -€5,368
down €5,368 (-22.7%), from €23,599 to €18,230
mainly Other debts (-€16,290) and Contributions, distributions and other (-€11,710)
- Deferred charges and accrued income -€4,180
down €4,180 (-86.5%), from €4,833 to €653
- Tangible fixed assets -€2,619
down €2,619 (-21.1%), from €12,420 to €9,801
of which Plant, machinery and equipment: -€1,592
- Other debts -€16,290
down €16,290 (-58.2%), from €28,000 to €11,710
- Trade debts -€6,618
down €6,618 (-32.9%), from €20,090 to €13,472
- Tax, wage and social debts -€6,496
down €6,496 (-70.5%), from €9,212 to €2,716
- Reserves +€3,671
up €3,671 (+7.8%), from €47,106 to €50,777
of which Distributable reserves: +€3,671
- Gross operating margin -€7,648
down €7,648 (-22.5%), from €33,973 to €26,325
- Taxes -€1,114
down €1,114 (-15.9%), from €7,000 to €5,886
- Financial income +€1,022
up €1,022 (+80.9%), from €1,262 to €2,284
- Other operating charges +€777
up €777 (+67.6%), from €1,151 to €1,928
- Depreciation +€503
up €503 (+23.8%), from €2,116 to €2,619
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.
Cash bridge derived
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 | €123,008 | €97,275 | -€25,733 | -20.9% |
| Fixed assets | 21/28 | €12,420 | €9,801 | -€2,619 | -21.1% |
| Tangible fixed assets | 22/27 | €12,420 | €9,801 | -€2,619 | -21.1% |
| Plant, machinery and equipment | 23 | €8,460 | €6,868 | -€1,592 | -18.8% |
| Furniture and vehicles | 24 | €3,960 | €2,933 | -€1,027 | -25.9% |
| Current assets | 29/58 | €110,589 | €87,474 | -€23,114 | -20.9% |
| Stocks and contracts in progress | 3 | €9,000 | €9,500 | +€500 | +5.6% |
| Stocks | 30/36 | €9,000 | €9,500 | +€500 | +5.6% |
| Amounts receivable within one year | 40/41 | €73,158 | €59,091 | -€14,066 | -19.2% |
| Trade receivables | 40 | €36,546 | €26,463 | -€10,083 | -27.6% |
| Other amounts receivable | 41 | €36,612 | €32,629 | -€3,983 | -10.9% |
| Cash at bank and in hand | 54/58 | €23,599 | €18,230 | -€5,368 | -22.7% |
| Deferred charges and accrued income | 490/1 | €4,833 | €653 | -€4,180 | -86.5% |
| Total equity and liabilities | 10/49 | €123,008 | €97,275 | -€25,733 | -20.9% |
| Equity | 10/15 | €65,706 | €69,377 | +€3,671 | +5.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €47,106 | €50,777 | +€3,671 | +7.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €45,246 | €48,917 | +€3,671 | +8.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €57,302 | €27,898 | -€29,404 | -51.3% |
| Amounts payable within one year | 42/48 | €57,302 | €27,898 | -€29,404 | -51.3% |
| Trade debts | 44 | €20,090 | €13,472 | -€6,618 | -32.9% |
| Suppliers | 440/4 | €20,090 | €13,472 | -€6,618 | -32.9% |
| Taxes, remuneration and social security | 45 | €9,212 | €2,716 | -€6,496 | -70.5% |
| Taxes | 450/3 | €9,212 | €2,716 | -€6,496 | -70.5% |
| Other amounts payable | 47/48 | €28,000 | €11,710 | -€16,290 | -58.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,116 | €2,619 | +€503 | +23.8% |
| Other operating charges | 640/8 | €1,151 | €1,928 | +€777 | +67.6% |
| Gross operating margin | 9900 | €33,973 | €26,325 | -€7,648 | -22.5% |
| Operating profit (loss) | 9901 | €30,707 | €21,777 | -€8,929 | -29.1% |
| Financial income | 75/76B | €1,262 | €2,284 | +€1,022 | +80.9% |
| Recurring financial income | 75 | €1,262 | €2,284 | +€1,022 | +80.9% |
| Financial charges | 65/66B | €3,237 | €2,794 | -€443 | -13.7% |
| Recurring financial charges | 65 | €3,237 | €2,794 | -€443 | -13.7% |
| Profit (loss) for the period before taxes | 9903 | €28,732 | €21,268 | -€7,464 | -26.0% |
| Income taxes | 67/77 | €7,000 | €5,886 | -€1,114 | -15.9% |
| Profit (loss) for the period | 9904 | €21,732 | €15,381 | -€6,351 | -29.2% |
| Profit (loss) for the period to be appropriated | 9905 | €21,732 | €15,381 | -€6,351 | -29.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.