Baudelo & Co: 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.
Baudelo & Co
Largest movements
- Cash -€11,947
down €11,947 (-57.1%), from €20,916 to €8,969
mainly Debts after one year (-€19,641) and Other debts (-€9,260)
- Tangible fixed assets -€9,860
down €9,860 (-2.9%), from €336,666 to €326,806
of which Land and buildings: -€8,651
- Receivables within one year -€9,264
down €9,264 (-79.4%), from €11,664 to €2,400
of which Trade receivables: -€8,150
- Debts after one year -€19,641
down €19,641 (-10.2%), from €193,428 to €173,786
- Other debts -€9,260
down €9,260 (-10.7%), from €86,246 to €76,986
- Gross operating margin -€14,465
down €14,465 (-39.1%), from €37,003 to €22,538
- Financial charges -€6,747
down €6,747 (-66.9%), from €10,090 to €3,342
- Other operating charges +€653
up €653 (+22.1%), from €2,956 to €3,609
- Depreciation -€374
down €374 (-1.9%), from €19,192 to €18,818
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 | €369,447 | €338,175 | -€31,272 | -8.5% |
| Fixed assets | 21/28 | €336,666 | €326,806 | -€9,860 | -2.9% |
| Tangible fixed assets | 22/27 | €336,666 | €326,806 | -€9,860 | -2.9% |
| Land and buildings | 22 | €328,047 | €319,396 | -€8,651 | -2.6% |
| Plant, machinery and equipment | 23 | €8,350 | €7,410 | -€940 | -11.3% |
| Furniture and vehicles | 24 | €269 | - | -€269 | |
| Current assets | 29/58 | €32,780 | €11,369 | -€21,411 | -65.3% |
| Amounts receivable within one year | 40/41 | €11,664 | €2,400 | -€9,264 | -79.4% |
| Trade receivables | 40 | €8,150 | - | -€8,150 | |
| Other amounts receivable | 41 | €3,514 | €2,400 | -€1,114 | -31.7% |
| Cash at bank and in hand | 54/58 | €20,916 | €8,969 | -€11,947 | -57.1% |
| Deferred charges and accrued income | 490/1 | €200 | - | -€200 | |
| Total equity and liabilities | 10/49 | €369,447 | €338,175 | -€31,272 | -8.5% |
| Equity | 10/15 | €65,841 | €64,709 | -€1,133 | -1.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €46,109 | €46,109 | = | 0.0% |
| Distributable reserves | 133 | €46,109 | €46,109 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,133 | - | -€1,133 | |
| Amounts payable | 17/49 | €303,606 | €273,467 | -€30,139 | -9.9% |
| Amounts payable after more than one year | 17 | €193,428 | €173,786 | -€19,641 | -10.2% |
| Financial debts | 170/4 | €193,428 | €173,786 | -€19,641 | -10.2% |
| Amounts payable within one year | 42/48 | €110,178 | €99,680 | -€10,498 | -9.5% |
| Current portion of amounts payable after more than one year | 42 | €19,349 | €19,641 | +€292 | +1.5% |
| Trade debts | 44 | €2,846 | €3,053 | +€207 | +7.3% |
| Suppliers | 440/4 | €2,846 | €3,053 | +€207 | +7.3% |
| Taxes, remuneration and social security | 45 | €1,737 | - | -€1,737 | |
| Taxes | 450/3 | €1,737 | - | -€1,737 | |
| Other amounts payable | 47/48 | €86,246 | €76,986 | -€9,260 | -10.7% |
| Remuneration, social security and pensions | 62 | €28 | - | -€28 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,192 | €18,818 | -€374 | -1.9% |
| Other operating charges | 640/8 | €2,956 | €3,609 | +€653 | +22.1% |
| Gross operating margin | 9900 | €37,003 | €22,538 | -€14,465 | -39.1% |
| Operating profit (loss) | 9901 | €14,828 | €111 | -€14,717 | -99.3% |
| Financial income | 75/76B | - | €4 | +€4 | |
| Recurring financial income | 75 | - | €4 | +€4 | |
| Financial charges | 65/66B | €10,090 | €3,342 | -€6,747 | -66.9% |
| Recurring financial charges | 65 | €10,090 | €3,342 | -€6,747 | -66.9% |
| Profit (loss) for the period before taxes | 9903 | €4,738 | -€3,227 | -€7,966 | |
| Income taxes | 67/77 | €355 | - | -€355 | |
| Profit (loss) for the period | 9904 | €4,383 | -€3,227 | -€7,611 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,383 | -€3,227 | -€7,611 |
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 2 October 2026 via checked.be.