BARO: 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.
BARO
Largest movements
- Receivables within one year +€22,219
up €22,219 (+70.8%), from €31,377 to €53,596
of which Other amounts receivable: +€40,689
- Debts after one year -€28,846
down €28,846 (-19.4%), from €148,686 to €119,840
- Reserves +€26,391
up €26,391 (+24.5%), from €107,771 to €134,162
- Other debts +€22,310
up €22,310 (+141.6%), from €15,753 to €38,063
- Short-term financial debts +€8,351
new in 2025: €8,351
- Tax, wage and social debts -€3,870
down €3,870 (-19.3%), from €20,006 to €16,137
- Gross operating margin +€21,166
up €21,166 (+36.2%), from €58,518 to €79,684
- Taxes +€5,966
up €5,966 (+44.1%), from €13,537 to €19,503
- Depreciation -€3,832
no longer reported in 2025 (was €3,832)
- Other operating charges -€3,169
down €3,169 (-95.6%), from €3,316 to €147
- Financial charges -€1,511
down €1,511 (-17.8%), from €8,502 to €6,991
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 | €340,734 | €363,613 | +€22,879 | +6.7% |
| Fixed assets | 21/28 | €307,265 | €307,265 | = | 0.0% |
| Tangible fixed assets | 22/27 | €307,265 | €307,265 | = | 0.0% |
| Land and buildings | 22 | €307,265 | €307,265 | = | 0.0% |
| Current assets | 29/58 | €33,469 | €56,348 | +€22,879 | +68.4% |
| Amounts receivable within one year | 40/41 | €31,377 | €53,596 | +€22,219 | +70.8% |
| Trade receivables | 40 | €31,377 | €12,907 | -€18,470 | -58.9% |
| Other amounts receivable | 41 | - | €40,689 | +€40,689 | |
| Cash at bank and in hand | 54/58 | €2,092 | €2,752 | +€660 | +31.6% |
| Total equity and liabilities | 10/49 | €340,734 | €363,613 | +€22,879 | +6.7% |
| Equity | 10/15 | €120,171 | €146,562 | +€26,391 | +22.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €107,771 | €134,162 | +€26,391 | +24.5% |
| Distributable reserves | 133 | €107,771 | €134,162 | +€26,391 | +24.5% |
| Amounts payable | 17/49 | €220,562 | €217,051 | -€3,511 | -1.6% |
| Amounts payable after more than one year | 17 | €148,686 | €119,840 | -€28,846 | -19.4% |
| Financial debts | 170/4 | €148,686 | €119,840 | -€28,846 | -19.4% |
| Amounts payable within one year | 42/48 | €71,492 | €97,211 | +€25,719 | +36.0% |
| Current portion of amounts payable after more than one year | 42 | €27,377 | €28,846 | +€1,470 | +5.4% |
| Financial debts | 43 | - | €8,351 | +€8,351 | |
| Other loans | 439 | - | €8,351 | +€8,351 | |
| Trade debts | 44 | €8,356 | €5,815 | -€2,541 | -30.4% |
| Suppliers | 440/4 | €8,356 | €5,815 | -€2,541 | -30.4% |
| Taxes, remuneration and social security | 45 | €20,006 | €16,137 | -€3,870 | -19.3% |
| Taxes | 450/3 | €20,006 | €16,137 | -€3,870 | -19.3% |
| Other amounts payable | 47/48 | €15,753 | €38,063 | +€22,310 | +141.6% |
| Accrued charges and deferred income | 492/3 | €384 | - | -€384 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,832 | - | -€3,832 | |
| Other operating charges | 640/8 | €3,316 | €147 | -€3,169 | -95.6% |
| Gross operating margin | 9900 | €58,518 | €79,684 | +€21,166 | +36.2% |
| Operating profit (loss) | 9901 | €51,370 | €79,537 | +€28,167 | +54.8% |
| Financial income | 75/76B | - | €1,264 | +€1,264 | |
| Recurring financial income | 75 | - | €1,264 | +€1,264 | |
| Financial charges | 65/66B | €8,502 | €6,991 | -€1,511 | -17.8% |
| Recurring financial charges | 65 | €8,502 | €6,991 | -€1,511 | -17.8% |
| Profit (loss) for the period before taxes | 9903 | €42,868 | €73,810 | +€30,941 | +72.2% |
| Income taxes | 67/77 | €13,537 | €19,503 | +€5,966 | +44.1% |
| Profit (loss) for the period | 9904 | €29,331 | €54,307 | +€24,975 | +85.1% |
| Profit (loss) for the period to be appropriated | 9905 | €29,331 | €54,307 | +€24,975 | +85.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.