BAROQUE EVENTS: 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.
BAROQUE EVENTS
Largest movements
- Tangible fixed assets +€35,106
up €35,106 (+45.2%), from €77,653 to €112,759
of which Plant, machinery and equipment: +€18,046
- Receivables within one year +€25,618
up €25,618 (+151%), from €16,964 to €42,582
of which Trade receivables: +€15,831
- Cash +€10,322
up €10,322 (+43.7%), from €23,633 to €33,955
mainly Net result for the year (+€48,516) and Trade debts (+€18,904)
- Deferred charges and accrued income +€7,313
up €7,313 (+341%), from €2,143 to €9,456
- Stocks and contracts +€2,580
up €2,580 (+66.2%), from €3,900 to €6,480
- Reserves +€48,516
up €48,516 (+168%), from €28,821 to €77,337
- Trade debts +€18,904
up €18,904 (+213%), from €8,882 to €27,787
- Other debts -€18,548
down €18,548 (-100%), from €18,548 to €0
- Tax, wage and social debts +€15,224
up €15,224 (+99.1%), from €15,358 to €30,582
of which Taxes: +€10,467
- Debts after one year +€14,707
up €14,707 (+32.8%), from €44,837 to €59,544
- Gross operating margin +€86,617
up €86,617 (+159%), from €54,629 to €141,246
- Staff costs +€48,672
up €48,672 (+567%), from €8,585 to €57,257
- Depreciation +€11,470
up €11,470 (+198%), from €5,784 to €17,254
- Taxes +€8,047
up €8,047 (+125%), from €6,430 to €14,476
- Financial income +€3,181
up €3,181 (+788%), from €403 to €3,584
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 | €133,901 | €216,642 | +€82,741 | +61.8% |
| Fixed assets | 21/28 | €87,260 | €124,169 | +€36,908 | +42.3% |
| Intangible fixed assets | 21 | €3,667 | €5,469 | +€1,803 | +49.2% |
| Tangible fixed assets | 22/27 | €77,653 | €112,759 | +€35,106 | +45.2% |
| Plant, machinery and equipment | 23 | €20,370 | €38,416 | +€18,046 | +88.6% |
| Furniture and vehicles | 24 | €8,400 | €17,358 | +€8,959 | +107% |
| Other tangible fixed assets | 26 | €48,884 | €56,984 | +€8,101 | +16.6% |
| Financial fixed assets | 28 | €5,941 | €5,941 | = | 0.0% |
| Current assets | 29/58 | €46,640 | €92,473 | +€45,833 | +98.3% |
| Stocks and contracts in progress | 3 | €3,900 | €6,480 | +€2,580 | +66.2% |
| Stocks | 30/36 | €3,900 | €6,480 | +€2,580 | +66.2% |
| Amounts receivable within one year | 40/41 | €16,964 | €42,582 | +€25,618 | +151% |
| Trade receivables | 40 | €15,354 | €31,185 | +€15,831 | +103% |
| Other amounts receivable | 41 | €1,611 | €11,397 | +€9,786 | +608% |
| Cash at bank and in hand | 54/58 | €23,633 | €33,955 | +€10,322 | +43.7% |
| Deferred charges and accrued income | 490/1 | €2,143 | €9,456 | +€7,313 | +341% |
| Total equity and liabilities | 10/49 | €133,901 | €216,642 | +€82,741 | +61.8% |
| Equity | 10/15 | €38,821 | €87,337 | +€48,516 | +125% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €28,821 | €77,337 | +€48,516 | +168% |
| Distributable reserves | 133 | €28,821 | €77,337 | +€48,516 | +168% |
| Amounts payable | 17/49 | €95,079 | €129,305 | +€34,225 | +36.0% |
| Amounts payable after more than one year | 17 | €44,837 | €59,544 | +€14,707 | +32.8% |
| Financial debts | 170/4 | €44,837 | €59,544 | +€14,707 | +32.8% |
| Amounts payable within one year | 42/48 | €50,243 | €69,761 | +€19,519 | +38.8% |
| Current portion of amounts payable after more than one year | 42 | €7,454 | €11,393 | +€3,939 | +52.8% |
| Trade debts | 44 | €8,882 | €27,787 | +€18,904 | +213% |
| Suppliers | 440/4 | €8,882 | €27,787 | +€18,904 | +213% |
| Taxes, remuneration and social security | 45 | €15,358 | €30,582 | +€15,224 | +99.1% |
| Taxes | 450/3 | €12,248 | €22,714 | +€10,467 | +85.5% |
| Remuneration and social security | 454/9 | €3,110 | €7,867 | +€4,757 | +153% |
| Other amounts payable | 47/48 | €18,548 | €0 | -€18,548 | -100% |
| Remuneration, social security and pensions | 62 | €8,585 | €57,257 | +€48,672 | +567% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,784 | €17,254 | +€11,470 | +198% |
| Other operating charges | 640/8 | €1,815 | €2,576 | +€761 | +41.9% |
| Gross operating margin | 9900 | €54,629 | €141,246 | +€86,617 | +159% |
| Operating profit (loss) | 9901 | €38,445 | €64,159 | +€25,714 | +66.9% |
| Financial income | 75/76B | €403 | €3,584 | +€3,181 | +788% |
| Recurring financial income | 75 | €403 | €3,584 | +€3,181 | +788% |
| Financial charges | 65/66B | €3,598 | €4,751 | +€1,154 | +32.1% |
| Recurring financial charges | 65 | €3,598 | €4,751 | +€1,154 | +32.1% |
| Profit (loss) for the period before taxes | 9903 | €35,251 | €62,992 | +€27,741 | +78.7% |
| Income taxes | 67/77 | €6,430 | €14,476 | +€8,047 | +125% |
| Profit (loss) for the period | 9904 | €28,821 | €48,516 | +€19,695 | +68.3% |
| Profit (loss) for the period to be appropriated | 9905 | €28,821 | €48,516 | +€19,695 | +68.3% |
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 20 October 2026 via checked.be.