Baudewijn Berte: 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.
Baudewijn Berte
Largest movements
- Tangible fixed assets -€11,392
down €11,392 (-35.8%), from €31,796 to €20,404
of which Furniture and vehicles: -€7,963
- Receivables within one year +€4,840
up €4,840 (+78.2%), from €6,192 to €11,032
of which Trade receivables: +€5,007
- Cash +€965
up €965 (+10.2%), from €9,420 to €10,385
- Deferred charges and accrued income -€588
no longer reported in 2025 (was €588)
- Profit (loss) carried forward +€16,250
up €16,250, from €0 to €16,250
- Current portion of long-term debt -€9,560
down €9,560 (-93.6%), from €10,215 to €654
- Debts after one year -€8,692
down €8,692 (-87.9%), from €9,894 to €1,202
- Tax, wage and social debts -€5,271
down €5,271 (-64.4%), from €8,180 to €2,909
- Accrued charges and deferred income +€1,708
new in 2025: €1,708
- Gross operating margin -€3,882
down €3,882 (-13.0%), from €29,881 to €25,999
- Depreciation -€1,180
down €1,180 (-14.8%), from €7,956 to €6,776
- Taxes -€945
down €945 (-24.0%), from €3,945 to €3,000
- Other operating charges +€587
up €587 (+115%), from €512 to €1,099
- Financial charges -€466
down €466 (-22.4%), from €2,075 to €1,609
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €47,996 | €41,821 | -€6,175 | -12.9% |
| Fixed assets | 21/28 | €31,796 | €20,404 | -€11,392 | -35.8% |
| Tangible fixed assets | 22/27 | €31,796 | €20,404 | -€11,392 | -35.8% |
| Plant, machinery and equipment | 23 | €5,694 | €2,265 | -€3,429 | -60.2% |
| Furniture and vehicles | 24 | €26,102 | €18,139 | -€7,963 | -30.5% |
| Current assets | 29/58 | €16,200 | €21,417 | +€5,218 | +32.2% |
| Amounts receivable within one year | 40/41 | €6,192 | €11,032 | +€4,840 | +78.2% |
| Trade receivables | 40 | €6,025 | €11,032 | +€5,007 | +83.1% |
| Other amounts receivable | 41 | €167 | €0 | -€167 | -100% |
| Cash at bank and in hand | 54/58 | €9,420 | €10,385 | +€965 | +10.2% |
| Deferred charges and accrued income | 490/1 | €588 | - | -€588 | |
| Total equity and liabilities | 10/49 | €47,996 | €41,821 | -€6,175 | -12.9% |
| Equity | 10/15 | €17,061 | €33,311 | +€16,250 | +95.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €14,561 | €14,561 | = | 0.0% |
| Distributable reserves | 133 | €14,561 | €14,561 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €16,250 | +€16,250 | |
| Amounts payable | 17/49 | €30,935 | €8,510 | -€22,425 | -72.5% |
| Amounts payable after more than one year | 17 | €9,894 | €1,202 | -€8,692 | -87.9% |
| Financial debts | 170/4 | €9,894 | €1,202 | -€8,692 | -87.9% |
| Amounts payable within one year | 42/48 | €21,041 | €5,600 | -€15,441 | -73.4% |
| Current portion of amounts payable after more than one year | 42 | €10,215 | €654 | -€9,560 | -93.6% |
| Financial debts | 43 | - | €0 | = | |
| Other loans | 439 | - | €0 | = | |
| Trade debts | 44 | €350 | €64 | -€285 | -81.6% |
| Suppliers | 440/4 | €350 | €64 | -€285 | -81.6% |
| Taxes, remuneration and social security | 45 | €8,180 | €2,909 | -€5,271 | -64.4% |
| Taxes | 450/3 | €8,180 | €2,909 | -€5,271 | -64.4% |
| Other amounts payable | 47/48 | €2,297 | €1,973 | -€324 | -14.1% |
| Accrued charges and deferred income | 492/3 | - | €1,708 | +€1,708 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,956 | €6,776 | -€1,180 | -14.8% |
| Other operating charges | 640/8 | €512 | €1,099 | +€587 | +115% |
| Gross operating margin | 9900 | €29,881 | €25,999 | -€3,882 | -13.0% |
| Operating profit (loss) | 9901 | €21,414 | €18,124 | -€3,289 | -15.4% |
| Financial income | 75/76B | - | €44 | +€44 | |
| Recurring financial income | 75 | - | €44 | +€44 | |
| Financial charges | 65/66B | €2,075 | €1,609 | -€466 | -22.4% |
| Recurring financial charges | 65 | €2,075 | €1,609 | -€466 | -22.4% |
| Profit (loss) for the period before taxes | 9903 | €19,339 | €16,559 | -€2,779 | -14.4% |
| Income taxes | 67/77 | €3,945 | €3,000 | -€945 | -24.0% |
| Profit (loss) for the period | 9904 | €15,394 | €13,559 | -€1,834 | -11.9% |
| Profit (loss) for the period to be appropriated | 9905 | €15,394 | €13,559 | -€1,834 | -11.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.