Baulev: 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.
Baulev
Largest movements
- Cash +€29,306
up €29,306 (+270.8%), from €10,823 to €40,129
mainly Net result for the year (+€23,224) and Tax, wage and social debts (+€16,632)
- Deferred charges and accrued income +€4,148
up €4,148 (+39.3%), from €10,553 to €14,701
- Tangible fixed assets +€2,929
up €2,929 (+56.7%), from €5,163 to €8,092
of which Plant, machinery and equipment: +€1,722
- Receivables within one year +€1,435
up €1,435 (+14.2%), from €10,103 to €11,538
of which Trade receivables: +€1,435
- Reserves +€23,224
up €23,224 (+208.9%), from €11,117 to €34,340
- Tax, wage and social debts +€16,632
up €16,632 (+259.1%), from €6,418 to €23,051
of which Taxes: +€9,158
- Trade debts -€2,038
down €2,038 (-60.4%), from €3,374 to €1,336
- Gross operating margin +€81,088
up €81,088 (+445.1%), from €18,220 to €99,308
- Staff costs +€49,713
up €49,713 (+634.6%), from €7,834 to €57,547
- Taxes +€10,928
up €10,928 (+741.1%), from €1,475 to €12,403
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 | €36,642 | €74,460 | +€37,818 | +103.2% |
| Fixed assets | 21/28 | €5,163 | €8,092 | +€2,929 | +56.7% |
| Tangible fixed assets | 22/27 | €5,163 | €8,092 | +€2,929 | +56.7% |
| Plant, machinery and equipment | 23 | €871 | €2,593 | +€1,722 | +197.8% |
| Furniture and vehicles | 24 | €4,292 | €5,499 | +€1,207 | +28.1% |
| Current assets | 29/58 | €31,478 | €66,368 | +€34,889 | +110.8% |
| Amounts receivable within one year | 40/41 | €10,103 | €11,538 | +€1,435 | +14.2% |
| Trade receivables | 40 | €10,000 | €11,435 | +€1,435 | +14.4% |
| Other amounts receivable | 41 | €103 | €103 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €10,823 | €40,129 | +€29,306 | +270.8% |
| Deferred charges and accrued income | 490/1 | €10,553 | €14,701 | +€4,148 | +39.3% |
| Total equity and liabilities | 10/49 | €36,642 | €74,460 | +€37,818 | +103.2% |
| Equity | 10/15 | €12,317 | €35,540 | +€23,224 | +188.6% |
| Contributions | 10/11 | €1,200 | €1,200 | = | 0.0% |
| Reserves | 13 | €11,117 | €34,340 | +€23,224 | +208.9% |
| Distributable reserves | 133 | €11,117 | €34,340 | +€23,224 | +208.9% |
| Amounts payable | 17/49 | €24,325 | €38,919 | +€14,594 | +60.0% |
| Amounts payable within one year | 42/48 | €24,325 | €38,919 | +€14,594 | +60.0% |
| Trade debts | 44 | €3,374 | €1,336 | -€2,038 | -60.4% |
| Suppliers | 440/4 | €3,374 | €1,336 | -€2,038 | -60.4% |
| Taxes, remuneration and social security | 45 | €6,418 | €23,051 | +€16,632 | +259.1% |
| Taxes | 450/3 | €6,418 | €15,576 | +€9,158 | +142.7% |
| Remuneration and social security | 454/9 | - | €7,474 | +€7,474 | |
| Other amounts payable | 47/48 | €14,533 | €14,533 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €7,834 | €57,547 | +€49,713 | +634.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,497 | €2,468 | +€971 | +64.8% |
| Other operating charges | 640/8 | €225 | €651 | +€426 | +189.7% |
| Gross operating margin | 9900 | €18,220 | €99,308 | +€81,088 | +445.1% |
| Operating profit (loss) | 9901 | €8,663 | €38,641 | +€29,978 | +346.0% |
| Financial income | 75/76B | €0 | €100 | +€100 | +1003900.0% |
| Recurring financial income | 75 | €0 | €100 | +€100 | +1003900.0% |
| Financial charges | 65/66B | €3,948 | €3,116 | -€832 | -21.1% |
| Recurring financial charges | 65 | €3,948 | €3,116 | -€832 | -21.1% |
| Profit (loss) for the period before taxes | 9903 | €4,716 | €35,626 | +€30,911 | +655.5% |
| Income taxes | 67/77 | €1,475 | €12,403 | +€10,928 | +741.1% |
| Profit (loss) for the period | 9904 | €3,241 | €23,224 | +€19,983 | +616.6% |
| Profit (loss) for the period to be appropriated | 9905 | €3,241 | €23,224 | +€19,983 | +616.6% |
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 7 October 2026 via checked.be.