BALTIMO-SYNDIC: 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.
BALTIMO-SYNDIC
Largest movements
- Receivables within one year -€89,446
down €89,446 (-38.9%), from €229,665 to €140,218
of which Trade receivables: -€59,638
- Cash +€67,021
up €67,021 (+33.1%), from €202,376 to €269,397
mainly Receivables within one year (+€89,446) and Net result for the year (+€75,703)
- Tangible fixed assets +€32,851
up €32,851 (+141.0%), from €23,299 to €56,150
of which Furniture and vehicles: +€22,583
- Profit (loss) carried forward +€75,703
up €75,703 (+39.2%), from €192,931 to €268,634
- Trade debts -€61,106
down €61,106 (-67.0%), from €91,190 to €30,084
- Tax, wage and social debts -€8,638
down €8,638 (-13.0%), from €66,301 to €57,663
of which Remuneration and social security: -€7,927
- Gross operating margin +€114,023
up €114,023 (+34.0%), from €334,977 to €449,000
- Staff costs +€33,658
up €33,658 (+13.4%), from €250,660 to €284,319
- Other operating charges +€18,045
up €18,045 (+81.6%), from €22,101 to €40,145
- Taxes +€8,639
up €8,639 (+28.6%), from €30,248 to €38,887
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 | €464,503 | €471,404 | +€6,901 | +1.5% |
| Fixed assets | 21/28 | €27,044 | €59,895 | +€32,851 | +121.5% |
| Tangible fixed assets | 22/27 | €23,299 | €56,150 | +€32,851 | +141.0% |
| Plant, machinery and equipment | 23 | €8,381 | €18,649 | +€10,268 | +122.5% |
| Furniture and vehicles | 24 | €14,918 | €37,501 | +€22,583 | +151.4% |
| Financial fixed assets | 28 | €3,745 | €3,745 | = | 0.0% |
| Current assets | 29/58 | €437,459 | €411,510 | -€25,950 | -5.9% |
| Amounts receivable within one year | 40/41 | €229,665 | €140,218 | -€89,446 | -38.9% |
| Trade receivables | 40 | €199,823 | €140,185 | -€59,638 | -29.8% |
| Other amounts receivable | 41 | €29,842 | €33 | -€29,808 | -99.9% |
| Current investments | 50/53 | €1,595 | €1,595 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €202,376 | €269,397 | +€67,021 | +33.1% |
| Deferred charges and accrued income | 490/1 | €3,824 | €299 | -€3,525 | -92.2% |
| Total equity and liabilities | 10/49 | €464,503 | €471,404 | +€6,901 | +1.5% |
| Equity | 10/15 | €301,536 | €377,238 | +€75,703 | +25.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €102,405 | €102,405 | = | 0.0% |
| Tax-exempt reserves | 132 | €12,000 | €12,000 | = | 0.0% |
| Distributable reserves | 133 | €90,405 | €90,405 | = | 0.0% |
| Profit (loss) carried forward | 14 | €192,931 | €268,634 | +€75,703 | +39.2% |
| Amounts payable | 17/49 | €162,968 | €94,166 | -€68,802 | -42.2% |
| Amounts payable within one year | 42/48 | €162,968 | €91,827 | -€71,141 | -43.7% |
| Trade debts | 44 | €91,190 | €30,084 | -€61,106 | -67.0% |
| Suppliers | 440/4 | €91,190 | €30,084 | -€61,106 | -67.0% |
| Taxes, remuneration and social security | 45 | €66,301 | €57,663 | -€8,638 | -13.0% |
| Taxes | 450/3 | €31,155 | €30,444 | -€711 | -2.3% |
| Remuneration and social security | 454/9 | €35,145 | €27,219 | -€7,927 | -22.6% |
| Other amounts payable | 47/48 | €5,477 | €4,080 | -€1,398 | -25.5% |
| Accrued charges and deferred income | 492/3 | - | €2,339 | +€2,339 | |
| Remuneration, social security and pensions | 62 | €250,660 | €284,319 | +€33,658 | +13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,303 | €9,305 | +€2,002 | +27.4% |
| Other operating charges | 640/8 | €22,101 | €40,145 | +€18,045 | +81.6% |
| Gross operating margin | 9900 | €334,977 | €449,000 | +€114,023 | +34.0% |
| Operating profit (loss) | 9901 | €54,913 | €115,230 | +€60,318 | +109.8% |
| Financial income | 75/76B | €64 | €1,027 | +€963 | +1508.0% |
| Recurring financial income | 75 | €64 | €1,027 | +€963 | +1508.0% |
| Financial charges | 65/66B | €2,660 | €1,668 | -€992 | -37.3% |
| Recurring financial charges | 65 | €2,660 | €1,668 | -€992 | -37.3% |
| Profit (loss) for the period before taxes | 9903 | €52,317 | €114,590 | +€62,273 | +119.0% |
| Income taxes | 67/77 | €30,248 | €38,887 | +€8,639 | +28.6% |
| Profit (loss) for the period | 9904 | €22,069 | €75,703 | +€53,633 | +243.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,069 | €75,703 | +€53,633 | +243.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.