Baron V: 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 V
Largest movements
- Tangible fixed assets -€21,935
down €21,935 (-55.2%), from €39,749 to €17,813
of which Furniture and vehicles: -€21,469
- Receivables within one year -€16,379
down €16,379 (-90.9%), from €18,026 to €1,647
of which Trade receivables: -€11,260
- Cash +€9,513
up €9,513 (+2583.0%), from €368 to €9,881
mainly Depreciation (+€21,935) and Receivables within one year (+€16,379)
- Stocks and contracts -€3,490
down €3,490 (-8.0%), from €43,829 to €40,338
- Other debts -€14,797
down €14,797 (-24.8%), from €59,552 to €44,756
- Debts after one year -€9,289
down €9,289 (-100.0%), from €9,289 to €0
- Trade debts -€6,370
down €6,370 (-91.5%), from €6,960 to €590
- Current portion of long-term debt -€2,935
down €2,935 (-24.0%), from €12,224 to €9,289
- Profit (loss) carried forward +€2,704
up €2,704 (+32.4%), from -€8,353 to -€5,649
- Gross operating margin +€47,765
up €47,765, from -€14,579 to €33,186
- Staff costs -€8,788
down €8,788 (-77.7%), from €11,312 to €2,524
- Other operating charges +€969
up €969 (+25.0%), from €3,870 to €4,839
- Financial charges -€578
down €578 (-36.7%), from €1,577 to €999
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 | €102,107 | €69,815 | -€32,292 | -31.6% |
| Fixed assets | 21/28 | €39,884 | €17,948 | -€21,935 | -55.0% |
| Tangible fixed assets | 22/27 | €39,749 | €17,813 | -€21,935 | -55.2% |
| Plant, machinery and equipment | 23 | €660 | €193 | -€467 | -70.7% |
| Furniture and vehicles | 24 | €39,089 | €17,620 | -€21,469 | -54.9% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €62,223 | €51,866 | -€10,357 | -16.6% |
| Stocks and contracts in progress | 3 | €43,829 | €40,338 | -€3,490 | -8.0% |
| Stocks | 30/36 | €43,829 | €40,338 | -€3,490 | -8.0% |
| Amounts receivable within one year | 40/41 | €18,026 | €1,647 | -€16,379 | -90.9% |
| Trade receivables | 40 | €11,260 | €0 | -€11,260 | -100.0% |
| Other amounts receivable | 41 | €6,766 | €1,647 | -€5,120 | -75.7% |
| Cash at bank and in hand | 54/58 | €368 | €9,881 | +€9,513 | +2583.0% |
| Total equity and liabilities | 10/49 | €102,107 | €69,815 | -€32,292 | -31.6% |
| Equity | 10/15 | €12,107 | €14,811 | +€2,704 | +22.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€8,353 | -€5,649 | +€2,704 | +32.4% |
| Amounts payable | 17/49 | €90,000 | €55,004 | -€34,996 | -38.9% |
| Amounts payable after more than one year | 17 | €9,289 | €0 | -€9,289 | -100.0% |
| Financial debts | 170/4 | €9,289 | €0 | -€9,289 | -100.0% |
| Amounts payable within one year | 42/48 | €80,710 | €55,004 | -€25,706 | -31.9% |
| Current portion of amounts payable after more than one year | 42 | €12,224 | €9,289 | -€2,935 | -24.0% |
| Financial debts | 43 | €977 | €0 | -€977 | -100.0% |
| Credit institutions | 430/8 | €977 | €0 | -€977 | -100.0% |
| Trade debts | 44 | €6,960 | €590 | -€6,370 | -91.5% |
| Suppliers | 440/4 | €6,960 | €590 | -€6,370 | -91.5% |
| Taxes, remuneration and social security | 45 | €997 | €369 | -€629 | -63.0% |
| Taxes | 450/3 | €202 | €185 | -€17 | -8.4% |
| Remuneration and social security | 454/9 | €795 | €184 | -€612 | -76.9% |
| Other amounts payable | 47/48 | €59,552 | €44,756 | -€14,797 | -24.8% |
| Remuneration, social security and pensions | 62 | €11,312 | €2,524 | -€8,788 | -77.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,935 | €21,935 | = | 0.0% |
| Other operating charges | 640/8 | €3,870 | €4,839 | +€969 | +25.0% |
| Gross operating margin | 9900 | -€14,579 | €33,186 | +€47,765 | |
| Operating profit (loss) | 9901 | -€51,696 | €3,887 | +€55,584 | |
| Financial charges | 65/66B | €1,577 | €999 | -€578 | -36.7% |
| Recurring financial charges | 65 | €1,577 | €999 | -€578 | -36.7% |
| Profit (loss) for the period before taxes | 9903 | -€53,273 | €2,889 | +€56,162 | |
| Income taxes | 67/77 | €202 | €185 | -€17 | -8.4% |
| Profit (loss) for the period | 9904 | -€53,475 | €2,704 | +€56,179 | |
| Profit (loss) for the period to be appropriated | 9905 | -€53,475 | €2,704 | +€56,179 |
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 4 October 2026 via checked.be.