BAO HOUSE: what changed
What changed
BAO HOUSE
NACE 68.122, Development of non-residential building projects
filed annual accounts (NBB)
Net result for the year
-€409,285
2024 · €39,884-€449,169
Equity
€154,254
2024 · -€332,210+€486,464
Cash
€163,129
2024 · €29,311+€133,818
Balance sheet total
€709,325
2024 · €827,550-€118,225
Largest movements
Assets
- Receivables within one year -€245,422
down €245,422 (-61.8%), from €397,006 to €151,585
of which Trade receivables: -€260,408
- Cash +€133,818
up €133,818 (+457%), from €29,311 to €163,129
mainly Contributions, distributions and other (+€895,749) and Receivables within one year (+€245,422)
- Tangible fixed assets -€9,374
down €9,374 (-16.5%), from €56,761 to €47,387
of which Other tangible fixed assets: -€7,587
Equity and liabilities
- Contributions +€895,749
up €895,749 (+211%), from €424,530 to €1.3m
of which Contributions outside capital: +€781,539
- Profit (loss) carried forward -€409,285
down €409,285 (-54.1%), from -€756,740 to -€1.2m
- Debts after one year -€353,970
down €353,970 (-70.8%), from €500,000 to €146,030
- Trade debts -€338,675
down €338,675 (-87.2%), from €388,325 to €49,650
- Current portion of long-term debt +€223,344
new in 2025: €223,344
Income statement
- Gross operating margin -€491,432
down €491,432, from €261,821 to -€229,611
- Staff costs -€33,537
down €33,537 (-32.7%), from €102,608 to €69,071
- Financial charges -€14,035
down €14,035 (-31.2%), from €44,911 to €30,877
- Depreciation +€7,545
up €7,545 (+10.7%), from €70,470 to €78,015
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€39,884
Gross operating margin
-€491,432
Staff costs
+€33,537
Depreciation
-€7,545
Other operating charges
+€1,716
Financial income
-€15
Financial charges
+€14,035
Taxes
+€535
Result 2025
-€409,285
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€563,133
Investment
-€68,172
Financing
+€765,123
Cash 2024
€29,311
From operations (derived)
-€563,133
Net result for the year
-€409,285
Depreciation
+€78,015
Smaller working-capital items
-€3,222
Receivables within one year
+€245,422
Trade debts
-€338,675
Tax, wage and social debts
-€3,666
Advances received
-€56,662
Other debts
-€90,766
Accrued charges and deferred income
+€15,707
Investment (derived)
-€68,172
Investment in fixed assets (net)
-€68,172
Financing
+€765,123
Debts after one year
-€353,970
Current portion of long-term debt
+€223,344
Contributions, distributions and other
+€895,749
Cash 2025
€163,129
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €827,550 | €709,325 | -€118,225 | -14.3% |
| Fixed assets | 21/28 | €398,763 | €388,920 | -€9,843 | -2.5% |
| Intangible fixed assets | 21 | €334,015 | €333,545 | -€469 | -0.1% |
| Tangible fixed assets | 22/27 | €56,761 | €47,387 | -€9,374 | -16.5% |
| Plant, machinery and equipment | 23 | €3,042 | €2,207 | -€835 | -27.5% |
| Furniture and vehicles | 24 | €1,562 | €611 | -€951 | -60.9% |
| Other tangible fixed assets | 26 | €52,157 | €44,569 | -€7,587 | -14.5% |
| Financial fixed assets | 28 | €7,987 | €7,987 | = | 0.0% |
| Current assets | 29/58 | €428,788 | €320,406 | -€108,382 | -25.3% |
| Stocks and contracts in progress | 3 | - | €2,078 | +€2,078 | |
| Stocks | 30/36 | - | €2,078 | +€2,078 | |
| Amounts receivable within one year | 40/41 | €397,006 | €151,585 | -€245,422 | -61.8% |
| Trade receivables | 40 | €385,378 | €124,970 | -€260,408 | -67.6% |
| Other amounts receivable | 41 | €11,628 | €26,615 | +€14,987 | +129% |
| Cash at bank and in hand | 54/58 | €29,311 | €163,129 | +€133,818 | +457% |
| Deferred charges and accrued income | 490/1 | €2,470 | €3,614 | +€1,144 | +46.3% |
| Total equity and liabilities | 10/49 | €827,550 | €709,325 | -€118,225 | -14.3% |
| Equity | 10/15 | -€332,210 | €154,254 | +€486,464 | |
| Contributions | 10/11 | €424,530 | €1,320,279 | +€895,749 | +211% |
| Capital | 10 | €318,740 | €432,950 | +€114,210 | +35.8% |
| Issued capital | 100 | €318,740 | €432,950 | +€114,210 | +35.8% |
| Contributions outside capital | 11 | €105,790 | €887,329 | +€781,539 | +739% |
| Share premium | 1100/10 | €105,790 | €887,329 | +€781,539 | +739% |
| Profit (loss) carried forward | 14 | -€756,740 | -€1,166,025 | -€409,285 | -54.1% |
| Amounts payable | 17/49 | €1,159,760 | €555,072 | -€604,689 | -52.1% |
| Amounts payable after more than one year | 17 | €500,000 | €146,030 | -€353,970 | -70.8% |
| Financial debts | 170/4 | €500,000 | €146,030 | -€353,970 | -70.8% |
| Amounts payable within one year | 42/48 | €558,345 | €291,919 | -€266,426 | -47.7% |
| Current portion of amounts payable after more than one year | 42 | - | €223,344 | +€223,344 | |
| Trade debts | 44 | €388,325 | €49,650 | -€338,675 | -87.2% |
| Suppliers | 440/4 | €388,325 | €49,650 | -€338,675 | -87.2% |
| Advances received on contracts in progress | 46 | €56,662 | - | -€56,662 | |
| Taxes, remuneration and social security | 45 | €22,329 | €18,662 | -€3,666 | -16.4% |
| Taxes | 450/3 | €1,512 | €2,033 | +€520 | +34.4% |
| Remuneration and social security | 454/9 | €20,817 | €16,630 | -€4,187 | -20.1% |
| Other amounts payable | 47/48 | €91,029 | €262 | -€90,766 | -99.7% |
| Accrued charges and deferred income | 492/3 | €101,416 | €117,123 | +€15,707 | +15.5% |
| Remuneration, social security and pensions | 62 | €102,608 | €69,071 | -€33,537 | -32.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,470 | €78,015 | +€7,545 | +10.7% |
| Other operating charges | 640/8 | €3,610 | €1,894 | -€1,716 | -47.5% |
| Gross operating margin | 9900 | €261,821 | -€229,611 | -€491,432 | |
| Operating profit (loss) | 9901 | €85,134 | -€378,590 | -€463,724 | |
| Financial income | 75/76B | €197 | €182 | -€15 | -7.6% |
| Recurring financial income | 75 | €197 | €182 | -€15 | -7.6% |
| Financial charges | 65/66B | €44,911 | €30,877 | -€14,035 | -31.2% |
| Recurring financial charges | 65 | €44,911 | €30,877 | -€14,035 | -31.2% |
| Profit (loss) for the period before taxes | 9903 | €40,420 | -€409,285 | -€449,705 | |
| Income taxes | 67/77 | €535 | - | -€535 | |
| Profit (loss) for the period | 9904 | €39,884 | -€409,285 | -€449,169 | |
| Profit (loss) for the period to be appropriated | 9905 | €39,884 | -€409,285 | -€449,169 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.