Baron Casier: 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.
Baron Casier
Largest movements
- Receivables within one year -€36,449
down €36,449 (-91.0%), from €40,071 to €3,622
of which Other amounts receivable: -€29,681
- Tangible fixed assets -€18,691
down €18,691 (-31.6%), from €59,118 to €40,427
of which Other tangible fixed assets: -€14,054
- Stocks and contracts -€5,536
down €5,536 (-19.0%), from €29,202 to €23,666
- Deferred charges and accrued income +€3,305
up €3,305 (+210%), from €1,572 to €4,877
- Tax, wage and social debts -€29,443
down €29,443 (-50.8%), from €57,986 to €28,542
of which Taxes: -€39,927
- Trade debts -€17,689
down €17,689 (-24.3%), from €72,733 to €55,044
- Other debts +€16,420
new in 2025: €16,420
- Profit (loss) carried forward -€14,676
down €14,676 (-22.0%), from -€66,661 to -€81,338
- Short-term financial debts -€10,619
down €10,619 (-70.8%), from €15,000 to €4,381
- Gross operating margin +€22,845
up €22,845 (+9.5%), from €239,328 to €262,173
- Staff costs -€13,359
down €13,359 (-5.6%), from €240,289 to €226,929
- Financial charges -€6,060
down €6,060 (-36.5%), from €16,619 to €10,558
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 | €199,890 | €142,802 | -€57,088 | -28.6% |
| Fixed assets | 21/28 | €63,294 | €43,358 | -€19,936 | -31.5% |
| Intangible fixed assets | 21 | €4,176 | €2,931 | -€1,245 | -29.8% |
| Tangible fixed assets | 22/27 | €59,118 | €40,427 | -€18,691 | -31.6% |
| Plant, machinery and equipment | 23 | €28,894 | €24,705 | -€4,189 | -14.5% |
| Furniture and vehicles | 24 | €1,229 | €781 | -€448 | -36.5% |
| Other tangible fixed assets | 26 | €28,995 | €14,941 | -€14,054 | -48.5% |
| Current assets | 29/58 | €136,596 | €99,444 | -€37,152 | -27.2% |
| Stocks and contracts in progress | 3 | €29,202 | €23,666 | -€5,536 | -19.0% |
| Stocks | 30/36 | €29,202 | €23,666 | -€5,536 | -19.0% |
| Amounts receivable within one year | 40/41 | €40,071 | €3,622 | -€36,449 | -91.0% |
| Trade receivables | 40 | €8,325 | €1,557 | -€6,768 | -81.3% |
| Other amounts receivable | 41 | €31,746 | €2,065 | -€29,681 | -93.5% |
| Cash at bank and in hand | 54/58 | €65,751 | €67,279 | +€1,528 | +2.3% |
| Deferred charges and accrued income | 490/1 | €1,572 | €4,877 | +€3,305 | +210% |
| Total equity and liabilities | 10/49 | €199,890 | €142,802 | -€57,088 | -28.6% |
| Equity | 10/15 | €53,091 | €38,414 | -€14,676 | -27.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €109,752 | €109,752 | = | 0.0% |
| Distributable reserves | 133 | €109,752 | €109,752 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€66,661 | -€81,338 | -€14,676 | -22.0% |
| Amounts payable | 17/49 | €146,799 | €104,388 | -€42,412 | -28.9% |
| Amounts payable within one year | 42/48 | €146,799 | €104,388 | -€42,412 | -28.9% |
| Financial debts | 43 | €15,000 | €4,381 | -€10,619 | -70.8% |
| Credit institutions | 430/8 | €15,000 | €4,381 | -€10,619 | -70.8% |
| Trade debts | 44 | €72,733 | €55,044 | -€17,689 | -24.3% |
| Suppliers | 440/4 | €72,733 | €55,044 | -€17,689 | -24.3% |
| Advances received on contracts in progress | 46 | €1,081 | - | -€1,081 | |
| Taxes, remuneration and social security | 45 | €57,986 | €28,542 | -€29,443 | -50.8% |
| Taxes | 450/3 | €47,701 | €7,775 | -€39,927 | -83.7% |
| Remuneration and social security | 454/9 | €10,284 | €20,767 | +€10,483 | +102% |
| Other amounts payable | 47/48 | - | €16,420 | +€16,420 | |
| Remuneration, social security and pensions | 62 | €240,289 | €226,929 | -€13,359 | -5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,230 | €29,326 | +€96 | +0.3% |
| Other operating charges | 640/8 | €5,021 | €6,954 | +€1,933 | +38.5% |
| Non-recurring operating charges | 66A | €2,610 | €3,320 | +€710 | +27.2% |
| Gross operating margin | 9900 | €239,328 | €262,173 | +€22,845 | +9.5% |
| Operating profit (loss) | 9901 | -€37,822 | -€4,357 | +€33,466 | +88.5% |
| Financial income | 75/76B | €373 | €238 | -€135 | -36.1% |
| Recurring financial income | 75 | €373 | €238 | -€135 | -36.1% |
| Financial charges | 65/66B | €16,619 | €10,558 | -€6,060 | -36.5% |
| Recurring financial charges | 65 | €16,619 | €10,558 | -€6,060 | -36.5% |
| Profit (loss) for the period before taxes | 9903 | -€54,068 | -€14,676 | +€39,391 | +72.9% |
| Profit (loss) for the period | 9904 | -€54,068 | -€14,676 | +€39,391 | +72.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€54,068 | -€14,676 | +€39,391 | +72.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.