BAUDEN HM: 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.
BAUDEN HM
Largest movements
- Receivables within one year +€159,942
up €159,942 (+16.6%), from €961,485 to €1.1m
of which Trade receivables: +€197,879
- Cash -€131,171
down €131,171 (-22.0%), from €595,764 to €464,593
mainly Receivables within one year (-€159,942) and Contributions, distributions and other (-€125,500)
- Stocks and contracts -€75,810
down €75,810 (-9.2%), from €820,875 to €745,065
- Tangible fixed assets +€74,849
up €74,849 (+790%), from €9,469 to €84,318
of which Furniture and vehicles: +€73,441
- Profit (loss) carried forward -€525,790
down €525,790 (-100%), from €525,790 to €0
- Reserves +€488,775
up €488,775 (+104%), from €470,477 to €959,252
of which Distributable reserves: +€488,775
- Other debts -€105,601
down €105,601 (-21.6%), from €489,823 to €384,222
- Trade debts +€102,658
up €102,658 (+12.4%), from €828,410 to €931,068
- Debts after one year +€56,617
new in 2025: €56,617
- Gross operating margin -€249,542
down €249,542 (-63.0%), from €396,241 to €146,699
- Taxes -€77,373
down €77,373 (-62.7%), from €123,384 to €46,011
- Depreciation +€9,381
up €9,381 (+3,678%), from €255 to €9,636
- Financial income -€4,075
down €4,075 (-29.8%), from €13,667 to €9,591
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,389,226 | €2,418,225 | +€28,999 | +1.2% |
| Fixed assets | 21/28 | €9,469 | €84,318 | +€74,849 | +790% |
| Tangible fixed assets | 22/27 | €9,469 | €84,318 | +€74,849 | +790% |
| Plant, machinery and equipment | 23 | - | €1,408 | +€1,408 | |
| Furniture and vehicles | 24 | €9,469 | €82,910 | +€73,441 | +776% |
| Current assets | 29/58 | €2,379,757 | €2,333,908 | -€45,850 | -1.9% |
| Stocks and contracts in progress | 3 | €820,875 | €745,065 | -€75,810 | -9.2% |
| Stocks | 30/36 | €820,875 | €745,065 | -€75,810 | -9.2% |
| Amounts receivable within one year | 40/41 | €961,485 | €1,121,427 | +€159,942 | +16.6% |
| Trade receivables | 40 | €878,845 | €1,076,724 | +€197,879 | +22.5% |
| Other amounts receivable | 41 | €82,640 | €44,703 | -€37,938 | -45.9% |
| Cash at bank and in hand | 54/58 | €595,764 | €464,593 | -€131,171 | -22.0% |
| Deferred charges and accrued income | 490/1 | €1,634 | €2,823 | +€1,189 | +72.8% |
| Total equity and liabilities | 10/49 | €2,389,226 | €2,418,225 | +€28,999 | +1.2% |
| Equity | 10/15 | €1,014,868 | €977,852 | -€37,015 | -3.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €470,477 | €959,252 | +€488,775 | +104% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €468,617 | €957,392 | +€488,775 | +104% |
| Profit (loss) carried forward | 14 | €525,790 | €0 | -€525,790 | -100% |
| Amounts payable | 17/49 | €1,374,359 | €1,440,373 | +€66,014 | +4.8% |
| Amounts payable after more than one year | 17 | - | €56,617 | +€56,617 | |
| Financial debts | 170/4 | - | €56,617 | +€56,617 | |
| Amounts payable within one year | 42/48 | €1,365,667 | €1,375,375 | +€9,708 | +0.7% |
| Current portion of amounts payable after more than one year | 42 | - | €15,800 | +€15,800 | |
| Trade debts | 44 | €828,410 | €931,068 | +€102,658 | +12.4% |
| Suppliers | 440/4 | €828,410 | €931,068 | +€102,658 | +12.4% |
| Taxes, remuneration and social security | 45 | €47,433 | €44,284 | -€3,149 | -6.6% |
| Taxes | 450/3 | €47,433 | €44,284 | -€3,149 | -6.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €489,823 | €384,222 | -€105,601 | -21.6% |
| Accrued charges and deferred income | 492/3 | €8,692 | €8,382 | -€311 | -3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €255 | €9,636 | +€9,381 | +3,678% |
| Other operating charges | 640/8 | €2,557 | €2,956 | +€399 | +15.6% |
| Gross operating margin | 9900 | €396,241 | €146,699 | -€249,542 | -63.0% |
| Operating profit (loss) | 9901 | €393,429 | €134,107 | -€259,323 | -65.9% |
| Financial income | 75/76B | €13,667 | €9,591 | -€4,075 | -29.8% |
| Recurring financial income | 75 | €13,667 | €9,591 | -€4,075 | -29.8% |
| Financial charges | 65/66B | €8,693 | €9,202 | +€509 | +5.9% |
| Recurring financial charges | 65 | €8,693 | €9,202 | +€509 | +5.9% |
| Profit (loss) for the period before taxes | 9903 | €398,403 | €134,496 | -€263,907 | -66.2% |
| Income taxes | 67/77 | €123,384 | €46,011 | -€77,373 | -62.7% |
| Profit (loss) for the period | 9904 | €275,019 | €88,485 | -€186,534 | -67.8% |
| Profit (loss) for the period to be appropriated | 9905 | €275,019 | €88,485 | -€186,534 | -67.8% |
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 15 October 2026 via checked.be.