Baphomet: 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.
Baphomet
Largest movements
- Receivables after one year +€31,500
up €31,500 (+22.9%), from €137,550 to €169,050
- Receivables within one year -€6,193
down €6,193 (-17.4%), from €35,530 to €29,337
of which Other amounts receivable: -€5,423
- Cash +€5,152
up €5,152 (+421%), from €1,222 to €6,374
mainly Net result for the year (+€48,851) and Receivables within one year (+€6,193)
- Reserves +€48,851
up €48,851 (+38.0%), from €128,547 to €177,398
- Tax, wage and social debts -€18,633
down €18,633 (-36.3%), from €51,384 to €32,751
- Gross operating margin +€13,265
up €13,265 (+25.9%), from €51,225 to €64,490
- Taxes +€3,679
up €3,679 (+30.5%), from €12,065 to €15,745
- Financial income +€1,564
up €1,564 (+29.7%), from €5,272 to €6,836
- Financial charges +€1,507
up €1,507 (+110%), from €1,375 to €2,882
- Write-downs -€1,486
no longer reported in 2025 (was €1,486)
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 | €191,394 | €222,149 | +€30,755 | +16.1% |
| Fixed assets | 21/28 | €16,449 | €14,426 | -€2,024 | -12.3% |
| Tangible fixed assets | 22/27 | €16,449 | €14,426 | -€2,024 | -12.3% |
| Other tangible fixed assets | 26 | €16,449 | €14,426 | -€2,024 | -12.3% |
| Current assets | 29/58 | €174,945 | €207,724 | +€32,779 | +18.7% |
| Amounts receivable after more than one year | 29 | €137,550 | €169,050 | +€31,500 | +22.9% |
| Other amounts receivable | 291 | €137,550 | €169,050 | +€31,500 | +22.9% |
| Stocks and contracts in progress | 3 | €643 | €749 | +€106 | +16.6% |
| Stocks | 30/36 | €643 | €749 | +€106 | +16.6% |
| Amounts receivable within one year | 40/41 | €35,530 | €29,337 | -€6,193 | -17.4% |
| Trade receivables | 40 | €20,570 | €19,800 | -€770 | -3.7% |
| Other amounts receivable | 41 | €14,960 | €9,537 | -€5,423 | -36.3% |
| Cash at bank and in hand | 54/58 | €1,222 | €6,374 | +€5,152 | +421% |
| Deferred charges and accrued income | 490/1 | - | €2,214 | +€2,214 | |
| Total equity and liabilities | 10/49 | €191,394 | €222,149 | +€30,755 | +16.1% |
| Equity | 10/15 | €134,747 | €183,598 | +€48,851 | +36.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €128,547 | €177,398 | +€48,851 | +38.0% |
| Distributable reserves | 133 | €128,547 | €177,398 | +€48,851 | +38.0% |
| Amounts payable | 17/49 | €56,647 | €38,551 | -€18,096 | -31.9% |
| Amounts payable within one year | 42/48 | €56,647 | €37,611 | -€19,037 | -33.6% |
| Trade debts | 44 | €5,263 | €4,859 | -€404 | -7.7% |
| Suppliers | 440/4 | €5,263 | €4,859 | -€404 | -7.7% |
| Taxes, remuneration and social security | 45 | €51,384 | €32,751 | -€18,633 | -36.3% |
| Taxes | 450/3 | €51,384 | €32,751 | -€18,633 | -36.3% |
| Accrued charges and deferred income | 492/3 | - | €941 | +€941 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,727 | €2,024 | +€297 | +17.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,486 | - | -€1,486 | |
| Other operating charges | 640/8 | €569 | €1,825 | +€1,256 | +221% |
| Gross operating margin | 9900 | €51,225 | €64,490 | +€13,265 | +25.9% |
| Operating profit (loss) | 9901 | €47,443 | €60,641 | +€13,198 | +27.8% |
| Financial income | 75/76B | €5,272 | €6,836 | +€1,564 | +29.7% |
| Recurring financial income | 75 | €5,272 | €6,836 | +€1,564 | +29.7% |
| Financial charges | 65/66B | €1,375 | €2,882 | +€1,507 | +110% |
| Recurring financial charges | 65 | €1,375 | €2,882 | +€1,507 | +110% |
| Profit (loss) for the period before taxes | 9903 | €51,341 | €64,596 | +€13,255 | +25.8% |
| Income taxes | 67/77 | €12,065 | €15,745 | +€3,679 | +30.5% |
| Profit (loss) for the period | 9904 | €39,275 | €48,851 | +€9,576 | +24.4% |
| Profit (loss) for the period to be appropriated | 9905 | €39,275 | €48,851 | +€9,576 | +24.4% |
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 13 October 2026 via checked.be.