BAUDECET: 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.
BAUDECET
Largest movements
- Receivables within one year -€105,435
down €105,435 (-51.3%), from €205,410 to €99,975
of which Trade receivables: -€103,611
- Deferred charges and accrued income +€76,532
up €76,532 (+1871.0%), from €4,090 to €80,623
- Cash +€18,756
up €18,756 (+10.4%), from €180,682 to €199,438
mainly Receivables within one year (+€105,435) and Depreciation (+€45,471)
- Tangible fixed assets -€18,153
down €18,153 (-1.8%), from €995,277 to €977,125
of which Plant, machinery and equipment: -€21,791
- Trade debts -€59,306
down €59,306 (-35.4%), from €167,678 to €108,373
- Reserves +€38,913
up €38,913 (+7.9%), from €492,578 to €531,491
of which Distributable reserves: +€38,913
- Accrued charges and deferred income +€38,381
up €38,381 (+77.8%), from €49,336 to €87,717
- Debts after one year -€25,000
down €25,000 (-52.6%), from €47,499 to €22,500
- Other debts -€21,703
down €21,703 (-9.1%), from €238,120 to €216,416
- Gross operating margin +€3,473
up €3,473 (+3.3%), from €105,046 to €108,519
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 | €1,483,973 | €1,445,139 | -€38,835 | -2.6% |
| Fixed assets | 21/28 | €1,051,086 | €1,032,934 | -€18,153 | -1.7% |
| Tangible fixed assets | 22/27 | €995,277 | €977,125 | -€18,153 | -1.8% |
| Land and buildings | 22 | €751,611 | €759,714 | +€8,103 | +1.1% |
| Plant, machinery and equipment | 23 | €196,427 | €174,636 | -€21,791 | -11.1% |
| Furniture and vehicles | 24 | €47,239 | €42,775 | -€4,465 | -9.5% |
| Financial fixed assets | 28 | €55,809 | €55,809 | = | 0.0% |
| Current assets | 29/58 | €432,887 | €412,205 | -€20,682 | -4.8% |
| Stocks and contracts in progress | 3 | €42,705 | €32,169 | -€10,536 | -24.7% |
| Stocks | 30/36 | €42,705 | €32,169 | -€10,536 | -24.7% |
| Amounts receivable within one year | 40/41 | €205,410 | €99,975 | -€105,435 | -51.3% |
| Trade receivables | 40 | €191,986 | €88,375 | -€103,611 | -54.0% |
| Other amounts receivable | 41 | €13,424 | €11,600 | -€1,824 | -13.6% |
| Cash at bank and in hand | 54/58 | €180,682 | €199,438 | +€18,756 | +10.4% |
| Deferred charges and accrued income | 490/1 | €4,090 | €80,623 | +€76,532 | +1871.0% |
| Total equity and liabilities | 10/49 | €1,483,973 | €1,445,139 | -€38,835 | -2.6% |
| Equity | 10/15 | €938,786 | €977,699 | +€38,913 | +4.1% |
| Contributions | 10/11 | €446,208 | €446,208 | = | 0.0% |
| Reserves | 13 | €492,578 | €531,491 | +€38,913 | +7.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €492,578 | €531,491 | +€38,913 | +7.9% |
| Amounts payable | 17/49 | €545,187 | €467,440 | -€77,748 | -14.3% |
| Amounts payable after more than one year | 17 | €47,499 | €22,500 | -€25,000 | -52.6% |
| Financial debts | 170/4 | €47,499 | €22,500 | -€25,000 | -52.6% |
| Amounts payable within one year | 42/48 | €448,352 | €357,223 | -€91,129 | -20.3% |
| Current portion of amounts payable after more than one year | 42 | €30,000 | €25,000 | -€5,000 | -16.7% |
| Trade debts | 44 | €167,678 | €108,373 | -€59,306 | -35.4% |
| Suppliers | 440/4 | €167,678 | €108,373 | -€59,306 | -35.4% |
| Advances received on contracts in progress | 46 | €7,171 | €5,045 | -€2,126 | -29.6% |
| Taxes, remuneration and social security | 45 | €5,383 | €2,389 | -€2,994 | -55.6% |
| Taxes | 450/3 | €5,383 | €2,389 | -€2,994 | -55.6% |
| Other amounts payable | 47/48 | €238,120 | €216,416 | -€21,703 | -9.1% |
| Accrued charges and deferred income | 492/3 | €49,336 | €87,717 | +€38,381 | +77.8% |
| Non-recurring operating income | 76A | €2,200 | €0 | -€2,200 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,166 | €45,471 | +€305 | +0.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €9,068 | €10,031 | +€963 | +10.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €105,046 | €108,519 | +€3,473 | +3.3% |
| Operating profit (loss) | 9901 | €50,812 | €53,017 | +€2,205 | +4.3% |
| Financial income | 75/76B | €362 | €482 | +€120 | +33.0% |
| Recurring financial income | 75 | €362 | €482 | +€120 | +33.0% |
| Financial charges | 65/66B | €1,310 | €1,049 | -€261 | -19.9% |
| Recurring financial charges | 65 | €1,310 | €1,049 | -€261 | -19.9% |
| Profit (loss) for the period before taxes | 9903 | €49,864 | €52,451 | +€2,586 | +5.2% |
| Income taxes | 67/77 | €12,742 | €13,538 | +€796 | +6.2% |
| Profit (loss) for the period | 9904 | €37,123 | €38,913 | +€1,790 | +4.8% |
| Profit (loss) for the period to be appropriated | 9905 | €37,123 | €38,913 | +€1,790 | +4.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.