BAUBLO: 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.
What changed
BAUBLO
NACE 01.430, Raising of horses and other equines
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€56,296
2024 · €67,583-€11,286
Equity
€2.1m
2024 · €2.0m+€56,296
Cash
€5,931
2024 · €16,530-€10,599
Balance sheet total
€2.1m
2024 · €2.1m+€62,728
Largest movements
Assets
- Current investments +€65,000
up €65,000 (+6.7%), from €975,000 to €1.0m
Equity and liabilities
- Profit (loss) carried forward +€56,296
up €56,296 (+12.2%), from -€462,209 to -€405,913
Income statement
- Depreciation +€7,078
up €7,078 (+11.0%), from €64,195 to €71,273
- Financial income -€5,544
down €5,544 (-59.1%), from €9,388 to €3,844
- Gross operating margin +€1,583
up €1,583 (+1.2%), from €127,424 to €129,007
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.
Result 2024
€67,583
Gross operating margin
+€1,583
Depreciation
-€7,078
Other operating charges
-€88
Financial income
-€5,544
Financial charges
-€144
Taxes
-€16
Result 2025
€56,296
raises the resultlowers the result
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.
From operations
+€134,214
Investment
-€144,813
Financing
€0
Cash 2024
€16,530
From operations (derived)
+€134,214
Net result for the year
+€56,296
Depreciation
+€71,273
Receivables within one year
-€840
Deferred charges and accrued income
+€1,054
Trade debts
+€190
Tax, wage and social debts
+€2,030
Other debts
+€4,211
Investment (derived)
-€144,813
Investment in fixed assets (net)
-€79,813
Current investments
-€65,000
Cash 2025
€5,931
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,050,239 | €2,112,967 | +€62,728 | +3.1% |
| Fixed assets | 21/28 | €1,030,370 | €1,038,909 | +€8,540 | +0.8% |
| Tangible fixed assets | 22/27 | €1,030,370 | €1,038,909 | +€8,540 | +0.8% |
| Land and buildings | 22 | €984,968 | €949,409 | -€35,559 | -3.6% |
| Plant, machinery and equipment | 23 | €39,291 | €86,024 | +€46,734 | +119% |
| Furniture and vehicles | 24 | €6,110 | €3,475 | -€2,635 | -43.1% |
| Current assets | 29/58 | €1,019,869 | €1,074,057 | +€54,188 | +5.3% |
| Amounts receivable within one year | 40/41 | €22,105 | €22,945 | +€840 | +3.8% |
| Trade receivables | 40 | €19,363 | €18,855 | -€508 | -2.6% |
| Other amounts receivable | 41 | €2,742 | €4,091 | +€1,349 | +49.2% |
| Current investments | 50/53 | €975,000 | €1,040,000 | +€65,000 | +6.7% |
| Cash at bank and in hand | 54/58 | €16,530 | €5,931 | -€10,599 | -64.1% |
| Deferred charges and accrued income | 490/1 | €6,234 | €5,181 | -€1,054 | -16.9% |
| Total equity and liabilities | 10/49 | €2,050,239 | €2,112,967 | +€62,728 | +3.1% |
| Equity | 10/15 | €2,031,478 | €2,087,774 | +€56,296 | +2.8% |
| Contributions | 10/11 | €1,396,140 | €1,396,140 | = | 0.0% |
| Reserves | 13 | €1,097,547 | €1,097,547 | = | 0.0% |
| Non-distributable reserves | 130/1 | €77,610 | €77,610 | = | 0.0% |
| Reserves not available under the articles | 1311 | €77,610 | €77,610 | = | 0.0% |
| Distributable reserves | 133 | €1,019,937 | €1,019,937 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€462,209 | -€405,913 | +€56,296 | +12.2% |
| Amounts payable | 17/49 | €18,761 | €25,193 | +€6,432 | +34.3% |
| Amounts payable within one year | 42/48 | €13,761 | €20,193 | +€6,432 | +46.7% |
| Trade debts | 44 | €2,206 | €2,396 | +€190 | +8.6% |
| Suppliers | 440/4 | €2,206 | €2,396 | +€190 | +8.6% |
| Taxes, remuneration and social security | 45 | €5,920 | €7,950 | +€2,030 | +34.3% |
| Taxes | 450/3 | €5,920 | €7,950 | +€2,030 | +34.3% |
| Other amounts payable | 47/48 | €5,635 | €9,847 | +€4,211 | +74.7% |
| Accrued charges and deferred income | 492/3 | €5,000 | €5,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,195 | €71,273 | +€7,078 | +11.0% |
| Other operating charges | 640/8 | €4,546 | €4,634 | +€88 | +1.9% |
| Gross operating margin | 9900 | €127,424 | €129,007 | +€1,583 | +1.2% |
| Operating profit (loss) | 9901 | €58,683 | €53,100 | -€5,583 | -9.5% |
| Financial income | 75/76B | €9,388 | €3,844 | -€5,544 | -59.1% |
| Recurring financial income | 75 | €9,388 | €3,844 | -€5,544 | -59.1% |
| Financial charges | 65/66B | €223 | €366 | +€144 | +64.5% |
| Recurring financial charges | 65 | €223 | €366 | +€144 | +64.5% |
| Profit (loss) for the period before taxes | 9903 | €67,848 | €56,578 | -€11,270 | -16.6% |
| Income taxes | 67/77 | €266 | €282 | +€16 | +6.0% |
| Profit (loss) for the period | 9904 | €67,583 | €56,296 | -€11,286 | -16.7% |
| Profit (loss) for the period to be appropriated | 9905 | €67,583 | €56,296 | -€11,286 | -16.7% |
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 18 October 2026 via checked.be.