BAUDOUIN V: 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.
BAUDOUIN V
Largest movements
- Stocks and contracts +€23,766
up €23,766 (+75.2%), from €31,599 to €55,364
- Cash +€8,158
up €8,158 (+68.0%), from €11,992 to €20,150
mainly Net result for the year (+€28,332) and Current portion of long-term debt (+€11,000)
- Tangible fixed assets +€4,019
new in 2024: €4,019
of which Furniture and vehicles: +€2,964
- Intangible fixed assets -€4,000
down €4,000 (-10.8%), from €36,888 to €32,888
- Receivables within one year +€3,174
up €3,174 (+111%), from €2,863 to €6,037
of which Other amounts receivable: +€2,383
- Profit (loss) carried forward +€28,332
up €28,332 (+95.9%), from €29,557 to €57,889
- Current portion of long-term debt +€11,000
new in 2024: €11,000
- Tax, wage and social debts -€5,555
down €5,555 (-21.8%), from €25,500 to €19,945
of which Taxes: -€8,913
- Trade debts +€4,425
up €4,425 (+20.0%), from €22,173 to €26,598
- Other debts -€2,092
down €2,092 (-60.7%), from €3,445 to €1,353
- Gross operating margin +€62,830
up €62,830 (+48.8%), from €128,731 to €191,560
- Staff costs +€56,929
up €56,929 (+65.1%), from €87,432 to €144,361
- Other operating charges +€4,148
up €4,148 (+1,079%), from €384 to €4,532
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €83,675 | €119,786 | +€36,111 | +43.2% |
| Fixed assets | 21/28 | €37,221 | €37,240 | +€19 | 0.0% |
| Intangible fixed assets | 21 | €36,888 | €32,888 | -€4,000 | -10.8% |
| Tangible fixed assets | 22/27 | - | €4,019 | +€4,019 | |
| Plant, machinery and equipment | 23 | - | €1,054 | +€1,054 | |
| Furniture and vehicles | 24 | - | €2,964 | +€2,964 | |
| Financial fixed assets | 28 | €334 | €334 | = | 0.0% |
| Current assets | 29/58 | €46,454 | €82,546 | +€36,092 | +77.7% |
| Stocks and contracts in progress | 3 | €31,599 | €55,364 | +€23,766 | +75.2% |
| Stocks | 30/36 | €31,599 | €55,364 | +€23,766 | +75.2% |
| Amounts receivable within one year | 40/41 | €2,863 | €6,037 | +€3,174 | +111% |
| Trade receivables | 40 | €1,419 | €2,210 | +€791 | +55.7% |
| Other amounts receivable | 41 | €1,444 | €3,827 | +€2,383 | +165% |
| Cash at bank and in hand | 54/58 | €11,992 | €20,150 | +€8,158 | +68.0% |
| Deferred charges and accrued income | 490/1 | - | €994 | +€994 | |
| Total equity and liabilities | 10/49 | €83,675 | €119,786 | +€36,111 | +43.2% |
| Equity | 10/15 | €32,557 | €60,889 | +€28,332 | +87.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,557 | €57,889 | +€28,332 | +95.9% |
| Amounts payable | 17/49 | €51,118 | €58,897 | +€7,779 | +15.2% |
| Amounts payable within one year | 42/48 | €51,118 | €58,897 | +€7,779 | +15.2% |
| Current portion of amounts payable after more than one year | 42 | - | €11,000 | +€11,000 | |
| Trade debts | 44 | €22,173 | €26,598 | +€4,425 | +20.0% |
| Suppliers | 440/4 | €22,173 | €26,598 | +€4,425 | +20.0% |
| Taxes, remuneration and social security | 45 | €25,500 | €19,945 | -€5,555 | -21.8% |
| Taxes | 450/3 | €14,593 | €5,680 | -€8,913 | -61.1% |
| Remuneration and social security | 454/9 | €10,907 | €14,266 | +€3,359 | +30.8% |
| Other amounts payable | 47/48 | €3,445 | €1,353 | -€2,092 | -60.7% |
| Remuneration, social security and pensions | 62 | €87,432 | €144,361 | +€56,929 | +65.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,112 | €4,326 | +€1,214 | +39.0% |
| Other operating charges | 640/8 | €384 | €4,532 | +€4,148 | +1,079% |
| Gross operating margin | 9900 | €128,731 | €191,560 | +€62,830 | +48.8% |
| Operating profit (loss) | 9901 | €37,802 | €38,341 | +€539 | +1.4% |
| Financial income | 75/76B | €16 | €27 | +€11 | +68.7% |
| Recurring financial income | 75 | €16 | €27 | +€11 | +68.7% |
| Financial charges | 65/66B | €872 | €1,732 | +€861 | +98.7% |
| Recurring financial charges | 65 | €872 | €1,732 | +€861 | +98.7% |
| Profit (loss) for the period before taxes | 9903 | €36,946 | €36,636 | -€311 | -0.8% |
| Income taxes | 67/77 | €7,389 | €8,303 | +€914 | +12.4% |
| Profit (loss) for the period | 9904 | €29,557 | €28,332 | -€1,225 | -4.1% |
| Profit (loss) for the period to be appropriated | 9905 | €29,557 | €28,332 | -€1,225 | -4.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.