Baugema: 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.
Baugema
Largest movements
- Receivables within one year -€19,715
down €19,715 (-56.4%), from €34,929 to €15,214
of which Trade receivables: -€19,754
- Tangible fixed assets +€11,050
up €11,050 (+4.6%), from €237,901 to €248,951
of which Other tangible fixed assets: +€14,272
- Other debts +€29,219
up €29,219 (+66.6%), from €43,862 to €73,081
- Profit (loss) carried forward -€18,172
down €18,172 (-10.0%), from -€181,572 to -€199,744
- Trade debts -€15,455
down €15,455 (-80.3%), from €19,249 to €3,793
- Debts after one year -€10,563
down €10,563 (-4.2%), from €250,563 to €240,000
of which Financial debts: -€10,563
- Tax, wage and social debts +€6,952
up €6,952 (+303.8%), from €2,288 to €9,240
of which Remuneration and social security: +€7,525
- Staff costs +€25,935
up €25,935 (+95.4%), from €27,186 to €53,121
- Gross operating margin +€8,608
up €8,608 (+21.3%), from €40,401 to €49,010
- Financial charges -€1,317
down €1,317 (-24.8%), from €5,316 to €3,999
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 | €279,082 | €269,526 | -€9,556 | -3.4% |
| Fixed assets | 21/28 | €238,651 | €249,701 | +€11,050 | +4.6% |
| Tangible fixed assets | 22/27 | €237,901 | €248,951 | +€11,050 | +4.6% |
| Land and buildings | 22 | €235,200 | €228,000 | -€7,200 | -3.1% |
| Furniture and vehicles | 24 | €2,701 | €6,679 | +€3,978 | +147.3% |
| Other tangible fixed assets | 26 | - | €14,272 | +€14,272 | |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €40,432 | €19,825 | -€20,607 | -51.0% |
| Amounts receivable within one year | 40/41 | €34,929 | €15,214 | -€19,715 | -56.4% |
| Trade receivables | 40 | €33,424 | €13,670 | -€19,754 | -59.1% |
| Other amounts receivable | 41 | €1,505 | €1,544 | +€39 | +2.6% |
| Cash at bank and in hand | 54/58 | €3,785 | €2,429 | -€1,356 | -35.8% |
| Deferred charges and accrued income | 490/1 | €1,718 | €2,182 | +€464 | +27.0% |
| Total equity and liabilities | 10/49 | €279,082 | €269,526 | -€9,556 | -3.4% |
| Equity | 10/15 | -€70,422 | -€88,594 | -€18,172 | -25.8% |
| Contributions | 10/11 | €111,150 | €111,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€181,572 | -€199,744 | -€18,172 | -10.0% |
| Amounts payable | 17/49 | €349,504 | €358,121 | +€8,616 | +2.5% |
| Amounts payable after more than one year | 17 | €250,563 | €240,000 | -€10,563 | -4.2% |
| Financial debts | 170/4 | €120,563 | €110,000 | -€10,563 | -8.8% |
| Other amounts payable | 178/9 | €130,000 | €130,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €81,088 | €96,677 | +€15,590 | +19.2% |
| Current portion of amounts payable after more than one year | 42 | €15,689 | €10,563 | -€5,126 | -32.7% |
| Trade debts | 44 | €19,249 | €3,793 | -€15,455 | -80.3% |
| Suppliers | 440/4 | €19,249 | €3,793 | -€15,455 | -80.3% |
| Taxes, remuneration and social security | 45 | €2,288 | €9,240 | +€6,952 | +303.8% |
| Taxes | 450/3 | €574 | - | -€574 | |
| Remuneration and social security | 454/9 | €1,714 | €9,240 | +€7,525 | +438.9% |
| Other amounts payable | 47/48 | €43,862 | €73,081 | +€29,219 | +66.6% |
| Accrued charges and deferred income | 492/3 | €17,853 | €21,443 | +€3,590 | +20.1% |
| Remuneration, social security and pensions | 62 | €27,186 | €53,121 | +€25,935 | +95.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,238 | €8,681 | +€443 | +5.4% |
| Other operating charges | 640/8 | €1,221 | €1,260 | +€39 | +3.2% |
| Gross operating margin | 9900 | €40,401 | €49,010 | +€8,608 | +21.3% |
| Operating profit (loss) | 9901 | €3,756 | -€14,052 | -€17,808 | |
| Financial income | 75/76B | - | €43 | +€43 | |
| Recurring financial income | 75 | - | €43 | +€43 | |
| Financial charges | 65/66B | €5,316 | €3,999 | -€1,317 | -24.8% |
| Recurring financial charges | 65 | €5,316 | €3,999 | -€1,317 | -24.8% |
| Profit (loss) for the period before taxes | 9903 | -€1,560 | -€18,007 | -€16,447 | -1054.2% |
| Income taxes | 67/77 | €242 | €165 | -€77 | -31.8% |
| Profit (loss) for the period | 9904 | -€1,802 | -€18,172 | -€16,370 | -908.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,802 | -€18,172 | -€16,370 | -908.4% |
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 30 September 2026 via checked.be.