BAUNV: 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.
BAUNV
Largest movements
- Receivables within one year -€1.8m
down €1.8m (-35.0%), from €5.0m to €3.3m
of which Trade receivables: -€2.1m
- Cash +€613,709
up €613,709 (+41.3%), from €1.5m to €2.1m
mainly Net result for the year (+€2.2m) and Receivables within one year (+€1.8m)
- Financial fixed assets +€602,825
up €602,825 (+222%), from €271,568 to €874,393
- Reserves +€2.0m
up €2.0m (+203%), from €979,598 to €3.0m
of which Distributable reserves: +€2.0m
- Accrued charges and deferred income -€1.4m
down €1.4m (-100%), from €1.4m to €0
- Other debts -€845,431
down €845,431 (-99.5%), from €850,025 to €4,594
- Trade debts -€331,269
down €331,269 (-3.3%), from €9.9m to €9.6m
- Gross operating margin +€2.2m
up €2.2m (+115%), from €1.9m to €4.1m
- Taxes +€566,641
up €566,641 (+184%), from €307,685 to €874,325
- Staff costs +€226,150
up €226,150 (+25.4%), from €890,694 to €1.1m
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 | €13,366,636 | €12,761,003 | -€605,632 | -4.5% |
| Fixed assets | 21/28 | €541,090 | €1,089,640 | +€548,550 | +101% |
| Tangible fixed assets | 22/27 | €269,522 | €215,247 | -€54,275 | -20.1% |
| Plant, machinery and equipment | 23 | €127,923 | €111,596 | -€16,327 | -12.8% |
| Furniture and vehicles | 24 | €141,599 | €103,651 | -€37,948 | -26.8% |
| Financial fixed assets | 28 | €271,568 | €874,393 | +€602,825 | +222% |
| Current assets | 29/58 | €12,825,546 | €11,671,364 | -€1.2m | -9.0% |
| Amounts receivable after more than one year | 29 | €862,214 | €802,546 | -€59,668 | -6.9% |
| Other amounts receivable | 291 | €862,214 | €802,546 | -€59,668 | -6.9% |
| Amounts receivable within one year | 40/41 | €5,004,826 | €3,253,473 | -€1.8m | -35.0% |
| Trade receivables | 40 | €4,473,317 | €2,404,372 | -€2.1m | -46.3% |
| Other amounts receivable | 41 | €531,509 | €849,101 | +€317,592 | +59.8% |
| Current investments | 50/53 | €5,456,098 | €5,499,646 | +€43,548 | +0.8% |
| Cash at bank and in hand | 54/58 | €1,485,572 | €2,099,280 | +€613,709 | +41.3% |
| Deferred charges and accrued income | 490/1 | €16,836 | €16,418 | -€418 | -2.5% |
| Total equity and liabilities | 10/49 | €13,366,636 | €12,761,003 | -€605,632 | -4.5% |
| Equity | 10/15 | €1,041,098 | €3,030,092 | +€2.0m | +191% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €979,598 | €2,968,592 | +€2.0m | +203% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €973,448 | €2,962,442 | +€2.0m | +204% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €12,325,538 | €9,730,911 | -€2.6m | -21.1% |
| Amounts payable within one year | 42/48 | €10,923,538 | €9,730,911 | -€1.2m | -10.9% |
| Trade debts | 44 | €9,938,421 | €9,607,152 | -€331,269 | -3.3% |
| Suppliers | 440/4 | €9,938,421 | €9,607,152 | -€331,269 | -3.3% |
| Taxes, remuneration and social security | 45 | €135,092 | €119,165 | -€15,927 | -11.8% |
| Taxes | 450/3 | €38,145 | €0 | -€38,145 | -100% |
| Remuneration and social security | 454/9 | €96,947 | €119,165 | +€22,218 | +22.9% |
| Other amounts payable | 47/48 | €850,025 | €4,594 | -€845,431 | -99.5% |
| Accrued charges and deferred income | 492/3 | €1,402,000 | €0 | -€1.4m | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €890,694 | €1,116,844 | +€226,150 | +25.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,331 | €103,907 | +€8,577 | +9.0% |
| Other operating charges | 640/8 | €16,615 | €32,175 | +€15,559 | +93.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €1,913,903 | €4,109,396 | +€2.2m | +115% |
| Operating profit (loss) | 9901 | €911,262 | €2,856,470 | +€1.9m | +213% |
| Financial income | 75/76B | €250,473 | €270,033 | +€19,561 | +7.8% |
| Recurring financial income | 75 | €250,473 | €270,033 | +€19,561 | +7.8% |
| Financial charges | 65/66B | €6,073 | €43,514 | +€37,442 | +617% |
| Recurring financial charges | 65 | €6,073 | €43,514 | +€37,442 | +617% |
| Profit (loss) for the period before taxes | 9903 | €1,155,662 | €3,082,989 | +€1.9m | +167% |
| Income taxes | 67/77 | €307,685 | €874,325 | +€566,641 | +184% |
| Profit (loss) for the period | 9904 | €847,978 | €2,208,663 | +€1.4m | +160% |
| Profit (loss) for the period to be appropriated | 9905 | €847,978 | €2,208,663 | +€1.4m | +160% |
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 20 October 2026 via checked.be.