BASEO: 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.
BASEO
Largest movements
- Receivables within one year +€27,667
up €27,667 (+184.8%), from €14,975 to €42,642
of which Trade receivables: +€27,325
- Stocks and contracts +€19,006
up €19,006 (+36.8%), from €51,706 to €70,712
- Tangible fixed assets -€13,241
down €13,241 (-5.0%), from €266,140 to €252,899
of which Land and buildings: -€10,608
- Financial fixed assets +€5,100
up €5,100 (+8229.8%), from €62 to €5,162
- Profit (loss) carried forward +€47,194
up €47,194 (+46.8%), from -€100,860 to -€53,665
- Debts after one year -€14,872
down €14,872 (-12.0%), from €124,172 to €109,300
- Current portion of long-term debt -€13,629
down €13,629 (-47.9%), from €28,443 to €14,814
- Trade debts +€11,245
up €11,245 (+26.6%), from €42,203 to €53,447
- Other debts +€7,177
up €7,177 (+17.7%), from €40,518 to €47,695
- Gross operating margin +€97,327
up €97,327 (+249.9%), from €38,950 to €136,277
- Write-downs +€14,556
up €14,556, from -€12,263 to €2,293
- Other operating charges -€13,913
down €13,913 (-83.7%), from €16,618 to €2,704
- Staff costs +€3,497
up €3,497 (+6.9%), from €50,904 to €54,401
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 | €335,341 | €376,037 | +€40,696 | +12.1% |
| Fixed assets | 21/28 | €266,202 | €258,061 | -€8,141 | -3.1% |
| Tangible fixed assets | 22/27 | €266,140 | €252,899 | -€13,241 | -5.0% |
| Land and buildings | 22 | €250,841 | €240,234 | -€10,608 | -4.2% |
| Plant, machinery and equipment | 23 | €12,955 | €9,785 | -€3,171 | -24.5% |
| Furniture and vehicles | 24 | €2,343 | €2,881 | +€538 | +22.9% |
| Financial fixed assets | 28 | €62 | €5,162 | +€5,100 | +8229.8% |
| Current assets | 29/58 | €69,139 | €117,976 | +€48,837 | +70.6% |
| Stocks and contracts in progress | 3 | €51,706 | €70,712 | +€19,006 | +36.8% |
| Stocks | 30/36 | €51,706 | €70,712 | +€19,006 | +36.8% |
| Amounts receivable within one year | 40/41 | €14,975 | €42,642 | +€27,667 | +184.8% |
| Trade receivables | 40 | €11,556 | €38,881 | +€27,325 | +236.5% |
| Other amounts receivable | 41 | €3,419 | €3,761 | +€342 | +10.0% |
| Cash at bank and in hand | 54/58 | €2,204 | €4,270 | +€2,066 | +93.7% |
| Deferred charges and accrued income | 490/1 | €254 | €352 | +€98 | +38.5% |
| Total equity and liabilities | 10/49 | €335,341 | €376,037 | +€40,696 | +12.1% |
| Equity | 10/15 | €54,829 | €102,023 | +€47,194 | +86.1% |
| Contributions | 10/11 | €86,205 | €86,205 | = | 0.0% |
| Reserves | 13 | €69,483 | €69,483 | = | 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% |
| Tax-exempt reserves | 132 | €67,623 | €67,623 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€100,860 | -€53,665 | +€47,194 | +46.8% |
| Amounts payable | 17/49 | €280,512 | €274,014 | -€6,498 | -2.3% |
| Amounts payable after more than one year | 17 | €124,172 | €109,300 | -€14,872 | -12.0% |
| Financial debts | 170/4 | €124,172 | €109,300 | -€14,872 | -12.0% |
| Amounts payable within one year | 42/48 | €156,340 | €163,587 | +€7,247 | +4.6% |
| Current portion of amounts payable after more than one year | 42 | €28,443 | €14,814 | -€13,629 | -47.9% |
| Financial debts | 43 | €27,152 | €22,741 | -€4,412 | -16.2% |
| Credit institutions | 430/8 | €27,152 | €22,741 | -€4,412 | -16.2% |
| Trade debts | 44 | €42,203 | €53,447 | +€11,245 | +26.6% |
| Suppliers | 440/4 | €42,203 | €53,447 | +€11,245 | +26.6% |
| Taxes, remuneration and social security | 45 | €18,024 | €24,890 | +€6,866 | +38.1% |
| Taxes | 450/3 | €15,005 | €20,202 | +€5,198 | +34.6% |
| Remuneration and social security | 454/9 | €3,020 | €4,688 | +€1,668 | +55.2% |
| Other amounts payable | 47/48 | €40,518 | €47,695 | +€7,177 | +17.7% |
| Accrued charges and deferred income | 492/3 | - | €1,128 | +€1,128 | |
| Non-recurring operating income | 76A | €3,000 | - | -€3,000 | |
| Remuneration, social security and pensions | 62 | €50,904 | €54,401 | +€3,497 | +6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,170 | €15,006 | +€836 | +5.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€12,263 | €2,293 | +€14,556 | |
| Other operating charges | 640/8 | €16,618 | €2,704 | -€13,913 | -83.7% |
| Gross operating margin | 9900 | €38,950 | €136,277 | +€97,327 | +249.9% |
| Operating profit (loss) | 9901 | -€30,479 | €61,873 | +€92,351 | |
| Financial income | 75/76B | €872 | €554 | -€318 | -36.5% |
| Recurring financial income | 75 | €872 | €554 | -€318 | -36.5% |
| Financial charges | 65/66B | €16,224 | €15,089 | -€1,135 | -7.0% |
| Recurring financial charges | 65 | €16,224 | €15,089 | -€1,135 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | -€45,830 | €47,338 | +€93,168 | |
| Income taxes | 67/77 | €137 | €144 | +€7 | +5.2% |
| Profit (loss) for the period | 9904 | -€45,967 | €47,194 | +€93,161 | |
| Transfer from tax-exempt reserves | 789 | €125,507 | - | -€125,507 | |
| Profit (loss) for the period to be appropriated | 9905 | €79,541 | €47,194 | -€32,346 | -40.7% |
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 7 October 2026 via checked.be.