Baulant: 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.
Baulant
Largest movements
- Current investments +€281,252
up €281,252 (+128%), from €220,485 to €501,737
- Receivables within one year -€103,318
down €103,318 (-100%), from €103,318 to €0
of which Trade receivables: -€103,318
- Cash -€31,355
down €31,355 (-17.8%), from €176,566 to €145,211
mainly Current investments (-€281,252) and Tax, wage and social debts (-€3,779)
- Reserves +€155,596
up €155,596 (+41.5%), from €375,098 to €530,695
- Gross operating margin -€63,913
down €63,913 (-24.2%), from €263,765 to €199,852
- Taxes -€15,599
down €15,599 (-25.1%), from €62,032 to €46,433
- Financial income +€3,297
up €3,297 (+202%), from €1,636 to €4,933
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.
Derived cash bridge
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 | €503,591 | €653,679 | +€150,087 | +29.8% |
| Fixed assets | 21/28 | €1,836 | €4,853 | +€3,017 | +164% |
| Tangible fixed assets | 22/27 | €1,836 | €4,853 | +€3,017 | +164% |
| Plant, machinery and equipment | 23 | €1,300 | €1,139 | -€161 | -12.4% |
| Furniture and vehicles | 24 | €536 | €3,714 | +€3,178 | +592% |
| Current assets | 29/58 | €501,755 | €648,825 | +€147,070 | +29.3% |
| Amounts receivable within one year | 40/41 | €103,318 | €0 | -€103,318 | -100% |
| Trade receivables | 40 | €103,318 | €0 | -€103,318 | -100% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €220,485 | €501,737 | +€281,252 | +128% |
| Cash at bank and in hand | 54/58 | €176,566 | €145,211 | -€31,355 | -17.8% |
| Deferred charges and accrued income | 490/1 | €1,386 | €1,877 | +€491 | +35.5% |
| Total equity and liabilities | 10/49 | €503,591 | €653,679 | +€150,087 | +29.8% |
| Equity | 10/15 | €378,598 | €534,195 | +€155,596 | +41.1% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €375,098 | €530,695 | +€155,596 | +41.5% |
| Distributable reserves | 133 | €375,098 | €530,695 | +€155,596 | +41.5% |
| Amounts payable | 17/49 | €124,993 | €119,484 | -€5,509 | -4.4% |
| Amounts payable within one year | 42/48 | €124,993 | €119,354 | -€5,639 | -4.5% |
| Trade debts | 44 | €4,215 | €2,355 | -€1,860 | -44.1% |
| Suppliers | 440/4 | €4,215 | €2,355 | -€1,860 | -44.1% |
| Taxes, remuneration and social security | 45 | €120,778 | €116,999 | -€3,779 | -3.1% |
| Taxes | 450/3 | €120,778 | €116,999 | -€3,779 | -3.1% |
| Accrued charges and deferred income | 492/3 | - | €130 | +€130 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €669 | €582 | -€87 | -13.0% |
| Other operating charges | 640/8 | €118 | €571 | +€452 | +383% |
| Non-recurring operating charges | 66A | - | €536 | +€536 | |
| Gross operating margin | 9900 | €263,765 | €199,852 | -€63,913 | -24.2% |
| Operating profit (loss) | 9901 | €262,978 | €198,163 | -€64,815 | -24.6% |
| Financial income | 75/76B | €1,636 | €4,933 | +€3,297 | +202% |
| Recurring financial income | 75 | €1,636 | €4,933 | +€3,297 | +202% |
| Financial charges | 65/66B | €67 | €1,067 | +€999 | +1,482% |
| Recurring financial charges | 65 | €67 | €1,067 | +€999 | +1,482% |
| Profit (loss) for the period before taxes | 9903 | €264,546 | €202,029 | -€62,517 | -23.6% |
| Income taxes | 67/77 | €62,032 | €46,433 | -€15,599 | -25.1% |
| Profit (loss) for the period | 9904 | €202,514 | €155,596 | -€46,918 | -23.2% |
| Profit (loss) for the period to be appropriated | 9905 | €202,514 | €155,596 | -€46,918 | -23.2% |
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 24 October 2026 via checked.be.