BAUDREZ RX: 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.
BAUDREZ RX
Largest movements
- Cash +€343,284
up €343,284 (+314.0%), from €109,336 to €452,620
mainly Other debts (+€233,059) and Net result for the year (+€189,985)
- Current investments -€150,004
down €150,004 (-99.8%), from €150,370 to €367
- Receivables within one year -€17,007
down €17,007 (-11.5%), from €147,297 to €130,289
of which Other amounts receivable: -€9,084
- Other debts +€233,059
up €233,059 (+477.0%), from €48,860 to €281,919
- Reserves -€56,400
down €56,400 (-15.3%), from €368,210 to €311,810
- Trade debts -€15,954
down €15,954 (-61.7%), from €25,847 to €9,893
- Tax, wage and social debts +€15,174
up €15,174 (+39.7%), from €38,223 to €53,397
of which Taxes: +€15,174
- Financial income -€18,630
down €18,630 (-26.7%), from €69,732 to €51,103
of which Non-recurring financial income: -€20,260
- Gross operating margin +€8,074
up €8,074 (+3.7%), from €219,334 to €227,409
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 | €513,906 | €688,564 | +€174,658 | +34.0% |
| Fixed assets | 21/28 | €103,364 | €100,353 | -€3,011 | -2.9% |
| Tangible fixed assets | 22/27 | €48,264 | €45,253 | -€3,011 | -6.2% |
| Furniture and vehicles | 24 | €10,840 | €12,130 | +€1,289 | +11.9% |
| Other tangible fixed assets | 26 | €37,424 | €33,124 | -€4,300 | -11.5% |
| Financial fixed assets | 28 | €55,100 | €55,100 | = | 0.0% |
| Current assets | 29/58 | €410,542 | €588,211 | +€177,669 | +43.3% |
| Amounts receivable within one year | 40/41 | €147,297 | €130,289 | -€17,007 | -11.5% |
| Trade receivables | 40 | €126,929 | €119,006 | -€7,923 | -6.2% |
| Other amounts receivable | 41 | €20,368 | €11,284 | -€9,084 | -44.6% |
| Current investments | 50/53 | €150,370 | €367 | -€150,004 | -99.8% |
| Cash at bank and in hand | 54/58 | €109,336 | €452,620 | +€343,284 | +314.0% |
| Deferred charges and accrued income | 490/1 | €3,539 | €4,934 | +€1,395 | +39.4% |
| Total equity and liabilities | 10/49 | €513,906 | €688,564 | +€174,658 | +34.0% |
| Equity | 10/15 | €382,765 | €326,399 | -€56,365 | -14.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €368,210 | €311,810 | -€56,400 | -15.3% |
| Distributable reserves | 133 | €368,210 | €311,810 | -€56,400 | -15.3% |
| Profit (loss) carried forward | 14 | €2,155 | €2,189 | +€35 | +1.6% |
| Amounts payable | 17/49 | €131,141 | €362,165 | +€231,024 | +176.2% |
| Amounts payable within one year | 42/48 | €131,141 | €362,165 | +€231,024 | +176.2% |
| Current portion of amounts payable after more than one year | 42 | €2,983 | - | -€2,983 | |
| Financial debts | 43 | €15,228 | €16,956 | +€1,728 | +11.3% |
| Credit institutions | 430/8 | €15,228 | €16,956 | +€1,728 | +11.3% |
| Trade debts | 44 | €25,847 | €9,893 | -€15,954 | -61.7% |
| Suppliers | 440/4 | €25,847 | €9,893 | -€15,954 | -61.7% |
| Taxes, remuneration and social security | 45 | €38,223 | €53,397 | +€15,174 | +39.7% |
| Taxes | 450/3 | €33,323 | €48,497 | +€15,174 | +45.5% |
| Remuneration and social security | 454/9 | €4,900 | €4,900 | = | 0.0% |
| Other amounts payable | 47/48 | €48,860 | €281,919 | +€233,059 | +477.0% |
| Non-recurring operating income | 76A | €1,062 | - | -€1,062 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,941 | €13,042 | +€101 | +0.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €508 | €218 | -€290 | -57.1% |
| Other operating charges | 640/8 | €5,479 | €6,808 | +€1,329 | +24.3% |
| Gross operating margin | 9900 | €219,334 | €227,409 | +€8,074 | +3.7% |
| Operating profit (loss) | 9901 | €200,406 | €207,340 | +€6,934 | +3.5% |
| Financial income | 75/76B | €69,732 | €51,103 | -€18,630 | -26.7% |
| Recurring financial income | 75 | €49,472 | €51,103 | +€1,630 | +3.3% |
| Non-recurring financial income | 76B | €20,260 | - | -€20,260 | |
| Financial charges | 65/66B | €4,714 | €4,008 | -€706 | -15.0% |
| Recurring financial charges | 65 | €4,714 | €4,008 | -€706 | -15.0% |
| Profit (loss) for the period before taxes | 9903 | €265,424 | €254,435 | -€10,989 | -4.1% |
| Income taxes | 67/77 | €65,246 | €64,450 | -€796 | -1.2% |
| Profit (loss) for the period | 9904 | €200,178 | €189,985 | -€10,193 | -5.1% |
| Profit (loss) for the period to be appropriated | 9905 | €200,178 | €189,985 | -€10,193 | -5.1% |
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 4 October 2026 via checked.be.