BAUDUIN: 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.
BAUDUIN
Largest movements
- Cash -€4,772
no longer reported in 2025 (was €4,772)
mainly Net result for the year (-€5,215) and Receivables within one year (-€3,505)
- Tangible fixed assets -€3,679
down €3,679 (-69.9%), from €5,260 to €1,581
- Receivables within one year +€3,505
up €3,505 (+62.2%), from €5,632 to €9,137
- Profit (loss) carried forward -€5,215
down €5,215 (-25.4%), from -€20,555 to -€25,771
- Trade debts +€1,132
up €1,132 (+14.3%), from €7,906 to €9,038
- Short-term financial debts +€1,102
new in 2025: €1,102
- Other debts -€1,028
down €1,028 (-29.5%), from €3,487 to €2,458
- Accrued charges and deferred income -€720
no longer reported in 2025 (was €720)
- Gross operating margin -€1,559
down €1,559 (-69.7%), from €2,237 to €678
- Depreciation -€1,300
down €1,300 (-26.1%), from €4,979 to €3,679
- Other operating charges -€1,164
down €1,164 (-46.3%), from €2,514 to €1,350
- Financial charges +€528
up €528 (+156.5%), from €337 to €865
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 | €15,898 | €11,016 | -€4,882 | -30.7% |
| Fixed assets | 21/28 | €5,260 | €1,581 | -€3,679 | -69.9% |
| Tangible fixed assets | 22/27 | €5,260 | €1,581 | -€3,679 | -69.9% |
| Furniture and vehicles | 24 | €5,260 | €1,581 | -€3,679 | -69.9% |
| Current assets | 29/58 | €10,638 | €9,435 | -€1,203 | -11.3% |
| Amounts receivable within one year | 40/41 | €5,632 | €9,137 | +€3,505 | +62.2% |
| Trade receivables | 40 | €5,632 | €9,137 | +€3,505 | +62.2% |
| Cash at bank and in hand | 54/58 | €4,772 | - | -€4,772 | |
| Deferred charges and accrued income | 490/1 | €234 | €297 | +€64 | +27.3% |
| Total equity and liabilities | 10/49 | €15,898 | €11,016 | -€4,882 | -30.7% |
| Equity | 10/15 | -€104 | -€5,320 | -€5,215 | -5010.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,555 | -€25,771 | -€5,215 | -25.4% |
| Amounts payable | 17/49 | €16,002 | €16,336 | +€333 | +2.1% |
| Amounts payable within one year | 42/48 | €15,282 | €16,336 | +€1,053 | +6.9% |
| Financial debts | 43 | - | €1,102 | +€1,102 | |
| Credit institutions | 430/8 | - | €1,102 | +€1,102 | |
| Trade debts | 44 | €7,906 | €9,038 | +€1,132 | +14.3% |
| Suppliers | 440/4 | €7,906 | €9,038 | +€1,132 | +14.3% |
| Taxes, remuneration and social security | 45 | €3,890 | €3,737 | -€153 | -3.9% |
| Taxes | 450/3 | €3,890 | €3,568 | -€322 | -8.3% |
| Remuneration and social security | 454/9 | - | €170 | +€170 | |
| Other amounts payable | 47/48 | €3,487 | €2,458 | -€1,028 | -29.5% |
| Accrued charges and deferred income | 492/3 | €720 | - | -€720 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,979 | €3,679 | -€1,300 | -26.1% |
| Other operating charges | 640/8 | €2,514 | €1,350 | -€1,164 | -46.3% |
| Gross operating margin | 9900 | €2,237 | €678 | -€1,559 | -69.7% |
| Operating profit (loss) | 9901 | -€5,255 | -€4,351 | +€904 | +17.2% |
| Financial income | 75/76B | €4 | - | -€4 | |
| Recurring financial income | 75 | €4 | - | -€4 | |
| Financial charges | 65/66B | €337 | €865 | +€528 | +156.5% |
| Recurring financial charges | 65 | €337 | €865 | +€528 | +156.5% |
| Profit (loss) for the period before taxes | 9903 | -€5,588 | -€5,215 | +€373 | +6.7% |
| Profit (loss) for the period | 9904 | -€5,588 | -€5,215 | +€373 | +6.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,588 | -€5,215 | +€373 | +6.7% |
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 28 September 2026 via checked.be.