BAUDRY & ASSOCIATES: 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.
BAUDRY & ASSOCIATES
Largest movements
- Cash -€30,195
down €30,195 (-100.0%), from €30,202 to €8
mainly Investment in fixed assets (net) (-€39,134) and Other debts (-€28,723)
- Deferred charges and accrued income -€26,543
down €26,543 (-98.0%), from €27,098 to €555
- Tangible fixed assets +€5,237
up €5,237 (+1.5%), from €356,823 to €362,060
of which Plant, machinery and equipment: +€18,415
- Receivables within one year -€4,829
down €4,829 (-18.7%), from €25,859 to €21,030
of which Trade receivables: -€21,725
- Other debts -€28,723
no longer reported in 2025 (was €28,723)
- Debts after one year -€18,252
down €18,252 (-8.9%), from €206,054 to €187,803
- Current portion of long-term debt -€16,351
down €16,351 (-45.1%), from €36,217 to €19,866
- Trade debts +€9,730
up €9,730 (+176.4%), from €5,515 to €15,245
- Tax, wage and social debts -€6,460
down €6,460 (-22.0%), from €29,297 to €22,838
of which Taxes: -€4,460
- Gross operating margin -€63,618
down €63,618 (-49.4%), from €128,699 to €65,082
- Taxes -€15,891
down €15,891 (-59.2%), from €26,864 to €10,973
- Other operating charges +€6,108
up €6,108 (+353.3%), from €1,729 to €7,836
- Depreciation +€5,187
up €5,187 (+18.1%), from €28,709 to €33,896
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 | €449,172 | €392,843 | -€56,329 | -12.5% |
| Fixed assets | 21/28 | €366,013 | €371,250 | +€5,237 | +1.4% |
| Tangible fixed assets | 22/27 | €356,823 | €362,060 | +€5,237 | +1.5% |
| Land and buildings | 22 | €287,926 | €277,893 | -€10,033 | -3.5% |
| Plant, machinery and equipment | 23 | €3,933 | €22,348 | +€18,415 | +468.2% |
| Furniture and vehicles | 24 | €13,243 | €27,148 | +€13,905 | +105.0% |
| Leasing and similar rights | 25 | €50,573 | €34,257 | -€16,316 | -32.3% |
| Other tangible fixed assets | 26 | €1,148 | €414 | -€734 | -63.9% |
| Financial fixed assets | 28 | €9,190 | €9,190 | = | 0.0% |
| Current assets | 29/58 | €83,160 | €21,593 | -€61,566 | -74.0% |
| Amounts receivable within one year | 40/41 | €25,859 | €21,030 | -€4,829 | -18.7% |
| Trade receivables | 40 | €25,859 | €4,134 | -€21,725 | -84.0% |
| Other amounts receivable | 41 | - | €16,896 | +€16,896 | |
| Cash at bank and in hand | 54/58 | €30,202 | €8 | -€30,195 | -100.0% |
| Deferred charges and accrued income | 490/1 | €27,098 | €555 | -€26,543 | -98.0% |
| Total equity and liabilities | 10/49 | €449,172 | €392,843 | -€56,329 | -12.5% |
| Equity | 10/15 | €140,897 | €141,819 | +€921 | +0.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €67,000 | €67,000 | = | 0.0% |
| Distributable reserves | 133 | €67,000 | €67,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €68,897 | €69,819 | +€921 | +1.3% |
| Amounts payable | 17/49 | €308,275 | €251,025 | -€57,250 | -18.6% |
| Amounts payable after more than one year | 17 | €206,054 | €187,803 | -€18,252 | -8.9% |
| Financial debts | 170/4 | €206,054 | €187,803 | -€18,252 | -8.9% |
| Amounts payable within one year | 42/48 | €99,752 | €63,222 | -€36,530 | -36.6% |
| Current portion of amounts payable after more than one year | 42 | €36,217 | €19,866 | -€16,351 | -45.1% |
| Financial debts | 43 | - | €5,274 | +€5,274 | |
| Credit institutions | 430/8 | - | €5,274 | +€5,274 | |
| Trade debts | 44 | €5,515 | €15,245 | +€9,730 | +176.4% |
| Suppliers | 440/4 | €5,515 | €15,245 | +€9,730 | +176.4% |
| Taxes, remuneration and social security | 45 | €29,297 | €22,838 | -€6,460 | -22.0% |
| Taxes | 450/3 | €27,297 | €22,838 | -€4,460 | -16.3% |
| Remuneration and social security | 454/9 | €2,000 | - | -€2,000 | |
| Other amounts payable | 47/48 | €28,723 | - | -€28,723 | |
| Accrued charges and deferred income | 492/3 | €2,468 | - | -€2,468 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,709 | €33,896 | +€5,187 | +18.1% |
| Other operating charges | 640/8 | €1,729 | €7,836 | +€6,108 | +353.3% |
| Gross operating margin | 9900 | €128,699 | €65,082 | -€63,618 | -49.4% |
| Operating profit (loss) | 9901 | €98,261 | €23,349 | -€74,912 | -76.2% |
| Financial charges | 65/66B | €12,224 | €11,454 | -€770 | -6.3% |
| Recurring financial charges | 65 | €12,224 | €11,454 | -€770 | -6.3% |
| Profit (loss) for the period before taxes | 9903 | €86,037 | €11,895 | -€74,143 | -86.2% |
| Income taxes | 67/77 | €26,864 | €10,973 | -€15,891 | -59.2% |
| Profit (loss) for the period | 9904 | €59,173 | €921 | -€58,252 | -98.4% |
| Profit (loss) for the period to be appropriated | 9905 | €59,173 | €921 | -€58,252 | -98.4% |
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 12 October 2026 via checked.be.