Baliphar: 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.
Baliphar
Largest movements
- Tangible fixed assets +€160,067
up €160,067 (+77.5%), from €206,408 to €366,474
of which Other tangible fixed assets: +€158,260
- Cash +€29,219
up €29,219 (+51.6%), from €56,668 to €85,887
mainly Net result for the year (+€320,695) and Other debts (+€106,240)
- Reserves +€142,845
up €142,845 (+44.0%), from €324,790 to €467,635
- Other debts +€106,240
up €106,240 (+44.0%), from €241,344 to €347,583
- Debts after one year -€47,591
down €47,591 (-11.7%), from €406,966 to €359,376
- Taxes +€32,586
up €32,586, from -€7 to €32,578
- Gross operating margin -€16,642
down €16,642 (-9.1%), from €182,887 to €166,245
- Financial income +€3,745
up €3,745 (+1.9%), from €200,653 to €204,398
- Financial charges -€2,491
down €2,491 (-13.7%), from €18,189 to €15,698
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 | €1,089,879 | €1,289,648 | +€199,770 | +18.3% |
| Fixed assets | 21/28 | €941,330 | €1,101,397 | +€160,067 | +17.0% |
| Tangible fixed assets | 22/27 | €206,408 | €366,474 | +€160,067 | +77.5% |
| Land and buildings | 22 | €84,000 | €84,000 | = | 0.0% |
| Furniture and vehicles | 24 | - | €1,807 | +€1,807 | |
| Other tangible fixed assets | 26 | €122,408 | €280,668 | +€158,260 | +129% |
| Financial fixed assets | 28 | €734,923 | €734,923 | = | 0.0% |
| Current assets | 29/58 | €148,548 | €188,251 | +€39,703 | +26.7% |
| Amounts receivable within one year | 40/41 | €43,950 | €49,400 | +€5,450 | +12.4% |
| Trade receivables | 40 | €24,200 | €49,400 | +€25,200 | +104% |
| Other amounts receivable | 41 | €19,750 | - | -€19,750 | |
| Current investments | 50/53 | €46,568 | €51,471 | +€4,903 | +10.5% |
| Cash at bank and in hand | 54/58 | €56,668 | €85,887 | +€29,219 | +51.6% |
| Deferred charges and accrued income | 490/1 | €1,363 | €1,493 | +€130 | +9.6% |
| Total equity and liabilities | 10/49 | €1,089,879 | €1,289,648 | +€199,770 | +18.3% |
| Equity | 10/15 | €369,790 | €512,635 | +€142,845 | +38.6% |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Reserves | 13 | €324,790 | €467,635 | +€142,845 | +44.0% |
| Distributable reserves | 133 | €324,790 | €467,635 | +€142,845 | +44.0% |
| Amounts payable | 17/49 | €720,088 | €777,013 | +€56,925 | +7.9% |
| Amounts payable after more than one year | 17 | €406,966 | €359,376 | -€47,591 | -11.7% |
| Financial debts | 170/4 | €406,966 | €359,376 | -€47,591 | -11.7% |
| Amounts payable within one year | 42/48 | €307,452 | €413,138 | +€105,686 | +34.4% |
| Current portion of amounts payable after more than one year | 42 | €46,728 | €47,591 | +€863 | +1.8% |
| Trade debts | 44 | €3,140 | €5,142 | +€2,002 | +63.7% |
| Suppliers | 440/4 | €3,140 | €5,142 | +€2,002 | +63.7% |
| Taxes, remuneration and social security | 45 | €16,241 | €12,822 | -€3,418 | -21.0% |
| Taxes | 450/3 | €16,241 | €10,872 | -€5,368 | -33.1% |
| Remuneration and social security | 454/9 | - | €1,950 | +€1,950 | |
| Other amounts payable | 47/48 | €241,344 | €347,583 | +€106,240 | +44.0% |
| Accrued charges and deferred income | 492/3 | €5,670 | €4,500 | -€1,170 | -20.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €203 | +€203 | |
| Other operating charges | 640/8 | €1,838 | €1,470 | -€368 | -20.0% |
| Non-recurring operating charges | 66A | €185,540 | - | -€185,540 | |
| Gross operating margin | 9900 | €182,887 | €166,245 | -€16,642 | -9.1% |
| Operating profit (loss) | 9901 | -€4,490 | €164,573 | +€169,063 | |
| Financial income | 75/76B | €200,653 | €204,398 | +€3,745 | +1.9% |
| Recurring financial income | 75 | €200,653 | €204,398 | +€3,745 | +1.9% |
| Financial charges | 65/66B | €18,189 | €15,698 | -€2,491 | -13.7% |
| Recurring financial charges | 65 | €18,189 | €15,698 | -€2,491 | -13.7% |
| Profit (loss) for the period before taxes | 9903 | €177,974 | €353,273 | +€175,299 | +98.5% |
| Income taxes | 67/77 | -€7 | €32,578 | +€32,586 | |
| Profit (loss) for the period | 9904 | €177,981 | €320,695 | +€142,714 | +80.2% |
| Profit (loss) for the period to be appropriated | 9905 | €177,981 | €320,695 | +€142,714 | +80.2% |
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.