Bâton: 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.
Bâton
Largest movements
- Cash +€29,325
up €29,325 (+19.1%), from €153,388 to €182,713
mainly Net result for the year (+€66,989) and Short-term financial debts (+€22,851)
- Receivables within one year +€5,082
up €5,082 (+6584.5%), from €77 to €5,159
of which Other amounts receivable: +€4,782
- Tangible fixed assets +€4,853
up €4,853 (+5.2%), from €93,250 to €98,104
of which Furniture and vehicles: +€20,017
- Reserves +€66,989
up €66,989 (+179.8%), from €37,253 to €104,242
- Other debts -€37,689
down €37,689 (-100.0%), from €37,689 to €0
- Short-term financial debts +€22,851
new in 2025: €22,851
- Tax, wage and social debts -€22,216
down €22,216 (-45.3%), from €49,069 to €26,853
of which Remuneration and social security: -€12,213
- Debts after one year +€6,416
up €6,416 (+10.6%), from €60,266 to €66,682
- Gross operating margin +€88,252
up €88,252 (+55.1%), from €160,126 to €248,378
- Staff costs +€38,421
up €38,421 (+47.4%), from €81,089 to €119,510
- Taxes +€16,347
up €16,347 (+185.9%), from €8,794 to €25,141
- Depreciation +€8,251
up €8,251 (+56.9%), from €14,505 to €22,756
- Financial charges +€3,239
up €3,239 (+74.7%), from €4,334 to €7,574
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 | €249,327 | €291,914 | +€42,587 | +17.1% |
| Fixed assets | 21/28 | €93,250 | €98,104 | +€4,853 | +5.2% |
| Tangible fixed assets | 22/27 | €93,250 | €98,104 | +€4,853 | +5.2% |
| Land and buildings | 22 | €83,165 | €63,916 | -€19,249 | -23.1% |
| Plant, machinery and equipment | 23 | €10,085 | €14,171 | +€4,086 | +40.5% |
| Furniture and vehicles | 24 | - | €20,017 | +€20,017 | |
| Current assets | 29/58 | €156,077 | €193,810 | +€37,734 | +24.2% |
| Stocks and contracts in progress | 3 | €2,611 | €5,138 | +€2,527 | +96.8% |
| Stocks | 30/36 | €2,611 | €5,138 | +€2,527 | +96.8% |
| Amounts receivable within one year | 40/41 | €77 | €5,159 | +€5,082 | +6584.5% |
| Trade receivables | 40 | - | €300 | +€300 | |
| Other amounts receivable | 41 | €77 | €4,859 | +€4,782 | +6195.8% |
| Cash at bank and in hand | 54/58 | €153,388 | €182,713 | +€29,325 | +19.1% |
| Deferred charges and accrued income | 490/1 | - | €800 | +€800 | |
| Total equity and liabilities | 10/49 | €249,327 | €291,914 | +€42,587 | +17.1% |
| Equity | 10/15 | €67,253 | €134,242 | +€66,989 | +99.6% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €37,253 | €104,242 | +€66,989 | +179.8% |
| Distributable reserves | 133 | €37,253 | €104,242 | +€66,989 | +179.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €182,074 | €157,672 | -€24,402 | -13.4% |
| Amounts payable after more than one year | 17 | €60,266 | €66,682 | +€6,416 | +10.6% |
| Financial debts | 170/4 | €60,266 | €66,682 | +€6,416 | +10.6% |
| Amounts payable within one year | 42/48 | €120,208 | €86,990 | -€33,218 | -27.6% |
| Current portion of amounts payable after more than one year | 42 | €14,902 | €20,665 | +€5,762 | +38.7% |
| Financial debts | 43 | - | €22,851 | +€22,851 | |
| Credit institutions | 430/8 | - | €22,851 | +€22,851 | |
| Trade debts | 44 | €18,548 | €16,621 | -€1,927 | -10.4% |
| Suppliers | 440/4 | €18,548 | €16,621 | -€1,927 | -10.4% |
| Taxes, remuneration and social security | 45 | €49,069 | €26,853 | -€22,216 | -45.3% |
| Taxes | 450/3 | €28,709 | €18,706 | -€10,003 | -34.8% |
| Remuneration and social security | 454/9 | €20,360 | €8,147 | -€12,213 | -60.0% |
| Other amounts payable | 47/48 | €37,689 | €0 | -€37,689 | -100.0% |
| Accrued charges and deferred income | 492/3 | €1,600 | €4,000 | +€2,400 | +150.0% |
| Remuneration, social security and pensions | 62 | €81,089 | €119,510 | +€38,421 | +47.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,505 | €22,756 | +€8,251 | +56.9% |
| Other operating charges | 640/8 | €4,319 | €6,409 | +€2,089 | +48.4% |
| Gross operating margin | 9900 | €160,126 | €248,378 | +€88,252 | +55.1% |
| Operating profit (loss) | 9901 | €60,213 | €99,703 | +€39,490 | +65.6% |
| Financial income | 75/76B | €168 | €0 | -€168 | -100.0% |
| Recurring financial income | 75 | €168 | €0 | -€168 | -100.0% |
| Financial charges | 65/66B | €4,334 | €7,574 | +€3,239 | +74.7% |
| Recurring financial charges | 65 | €4,334 | €7,574 | +€3,239 | +74.7% |
| Profit (loss) for the period before taxes | 9903 | €56,047 | €92,130 | +€36,083 | +64.4% |
| Income taxes | 67/77 | €8,794 | €25,141 | +€16,347 | +185.9% |
| Profit (loss) for the period | 9904 | €47,253 | €66,989 | +€19,736 | +41.8% |
| Profit (loss) for the period to be appropriated | 9905 | €47,253 | €66,989 | +€19,736 | +41.8% |
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.