BARON: 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.
BARON
Largest movements
- Cash +€2,672
up €2,672 (+10.9%), from €24,466 to €27,138
mainly Tax, wage and social debts (+€4,847) and Net result for the year (+€4,420)
- Stocks and contracts +€1,956
up €1,956 (+3913.2%), from €50 to €2,006
- Receivables within one year +€1,801
up €1,801 (+112.2%), from €1,605 to €3,407
of which Other amounts receivable: +€2,995
- Tangible fixed assets -€1,238
down €1,238 (-42.4%), from €2,920 to €1,682
of which Plant, machinery and equipment: -€787
- Deferred charges and accrued income +€494
up €494 (+90.6%), from €545 to €1,039
- Tax, wage and social debts +€4,847
up €4,847 (+358.7%), from €1,351 to €6,198
- Profit (loss) carried forward +€4,420
up €4,420, from -€3,588 to €831
- Other debts -€4,248
down €4,248 (-100.0%), from €4,248 to €0
- Trade debts +€667
up €667 (+286.2%), from €233 to €900
- Gross operating margin +€8,472
up €8,472 (+604.6%), from €1,401 to €9,873
- Depreciation -€4,194
down €4,194 (-77.2%), from €5,432 to €1,238
- Taxes +€3,133
up €3,133 (+985.8%), from €318 to €3,451
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 | €29,586 | €35,272 | +€5,686 | +19.2% |
| Fixed assets | 21/28 | €2,920 | €1,682 | -€1,238 | -42.4% |
| Tangible fixed assets | 22/27 | €2,920 | €1,682 | -€1,238 | -42.4% |
| Plant, machinery and equipment | 23 | €2,469 | €1,682 | -€787 | -31.9% |
| Other tangible fixed assets | 26 | €451 | €0 | -€451 | -100.0% |
| Current assets | 29/58 | €26,666 | €33,590 | +€6,924 | +26.0% |
| Stocks and contracts in progress | 3 | €50 | €2,006 | +€1,956 | +3913.2% |
| Stocks | 30/36 | €50 | €2,006 | +€1,956 | +3913.2% |
| Amounts receivable within one year | 40/41 | €1,605 | €3,407 | +€1,801 | +112.2% |
| Trade receivables | 40 | €1,605 | €412 | -€1,194 | -74.3% |
| Other amounts receivable | 41 | - | €2,995 | +€2,995 | |
| Cash at bank and in hand | 54/58 | €24,466 | €27,138 | +€2,672 | +10.9% |
| Deferred charges and accrued income | 490/1 | €545 | €1,039 | +€494 | +90.6% |
| Total equity and liabilities | 10/49 | €29,586 | €35,272 | +€5,686 | +19.2% |
| Equity | 10/15 | €23,754 | €28,174 | +€4,420 | +18.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €8,750 | €8,750 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,891 | €6,891 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,588 | €831 | +€4,420 | |
| Amounts payable | 17/49 | €5,832 | €7,098 | +€1,266 | +21.7% |
| Amounts payable within one year | 42/48 | €5,832 | €7,098 | +€1,266 | +21.7% |
| Trade debts | 44 | €233 | €900 | +€667 | +286.2% |
| Suppliers | 440/4 | €233 | €900 | +€667 | +286.2% |
| Taxes, remuneration and social security | 45 | €1,351 | €6,198 | +€4,847 | +358.7% |
| Taxes | 450/3 | €1,351 | €6,198 | +€4,847 | +358.7% |
| Other amounts payable | 47/48 | €4,248 | €0 | -€4,248 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,432 | €1,238 | -€4,194 | -77.2% |
| Other operating charges | 640/8 | €568 | €609 | +€41 | +7.3% |
| Gross operating margin | 9900 | €1,401 | €9,873 | +€8,472 | +604.6% |
| Operating profit (loss) | 9901 | -€4,599 | €8,026 | +€12,625 | |
| Financial income | 75/76B | €205 | €150 | -€55 | -27.0% |
| Recurring financial income | 75 | €205 | €150 | -€55 | -27.0% |
| Financial charges | 65/66B | €311 | €305 | -€6 | -1.8% |
| Recurring financial charges | 65 | €311 | €305 | -€6 | -1.8% |
| Profit (loss) for the period before taxes | 9903 | -€4,705 | €7,870 | +€12,575 | |
| Income taxes | 67/77 | €318 | €3,451 | +€3,133 | +985.8% |
| Profit (loss) for the period | 9904 | -€5,023 | €4,420 | +€9,442 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,023 | €4,420 | +€9,442 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.