BAUTE: 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.
BAUTE
Largest movements
- Current investments +€106,482
new in 2025: €106,482
- Cash -€74,669
down €74,669 (-24.3%), from €306,655 to €231,986
mainly Contributions, distributions and other (-€181,733) and Current investments (-€106,482)
- Tangible fixed assets -€32,171
down €32,171 (-13.9%), from €230,658 to €198,486
of which Leasing and similar rights: -€42,720
- Receivables within one year +€17,514
up €17,514 (+18.8%), from €93,126 to €110,640
of which Trade receivables: +€18,631
- Stocks and contracts +€9,509
up €9,509 (+10.6%), from €89,570 to €99,079
of which Contracts in progress: +€9,102
- Reserves +€70,105
up €70,105 (+24.8%), from €282,766 to €352,870
of which Distributable reserves: +€71,213
- Debts after one year -€21,946
no longer reported in 2025 (was €21,946)
- Current portion of long-term debt -€21,655
down €21,655 (-93.8%), from €23,086 to €1,431
- Trade debts -€16,045
down €16,045 (-28.7%), from €55,881 to €39,836
- Other debts +€11,763
up €11,763 (+6.8%), from €173,499 to €185,262
- Gross operating margin +€59,284
up €59,284 (+10.9%), from €544,904 to €604,188
- Staff costs +€14,891
up €14,891 (+5.7%), from €259,605 to €274,496
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 | €727,007 | €753,613 | +€26,605 | +3.7% |
| Fixed assets | 21/28 | €230,658 | €198,486 | -€32,171 | -13.9% |
| Tangible fixed assets | 22/27 | €230,658 | €198,486 | -€32,171 | -13.9% |
| Plant, machinery and equipment | 23 | €144,396 | €155,476 | +€11,080 | +7.7% |
| Furniture and vehicles | 24 | €13,812 | €11,730 | -€2,082 | -15.1% |
| Leasing and similar rights | 25 | €52,411 | €9,691 | -€42,720 | -81.5% |
| Other tangible fixed assets | 26 | €20,038 | €21,589 | +€1,551 | +7.7% |
| Current assets | 29/58 | €496,350 | €555,126 | +€58,776 | +11.8% |
| Stocks and contracts in progress | 3 | €89,570 | €99,079 | +€9,509 | +10.6% |
| Stocks | 30/36 | €59,589 | €59,996 | +€406 | +0.7% |
| Contracts in progress | 37 | €29,981 | €39,083 | +€9,102 | +30.4% |
| Amounts receivable within one year | 40/41 | €93,126 | €110,640 | +€17,514 | +18.8% |
| Trade receivables | 40 | €92,009 | €110,640 | +€18,631 | +20.2% |
| Other amounts receivable | 41 | €1,117 | - | -€1,117 | |
| Current investments | 50/53 | - | €106,482 | +€106,482 | |
| Cash at bank and in hand | 54/58 | €306,655 | €231,986 | -€74,669 | -24.3% |
| Deferred charges and accrued income | 490/1 | €6,999 | €6,939 | -€60 | -0.9% |
| Total equity and liabilities | 10/49 | €727,007 | €753,613 | +€26,605 | +3.7% |
| Equity | 10/15 | €431,629 | €500,001 | +€68,372 | +15.8% |
| Contributions | 10/11 | €26,000 | €26,000 | = | 0.0% |
| Reserves | 13 | €282,766 | €352,870 | +€70,105 | +24.8% |
| Tax-exempt reserves | 132 | €8,807 | €7,698 | -€1,109 | -12.6% |
| Distributable reserves | 133 | €273,959 | €345,172 | +€71,213 | +26.0% |
| Profit (loss) carried forward | 14 | €122,863 | €121,130 | -€1,733 | -1.4% |
| Provisions and deferred taxes | 16 | €2,936 | €2,566 | -€370 | -12.6% |
| Deferred taxes | 168 | €2,936 | €2,566 | -€370 | -12.6% |
| Amounts payable | 17/49 | €292,443 | €251,046 | -€41,397 | -14.2% |
| Amounts payable after more than one year | 17 | €21,946 | - | -€21,946 | |
| Financial debts | 170/4 | €21,946 | - | -€21,946 | |
| Amounts payable within one year | 42/48 | €270,164 | €250,473 | -€19,691 | -7.3% |
| Current portion of amounts payable after more than one year | 42 | €23,086 | €1,431 | -€21,655 | -93.8% |
| Trade debts | 44 | €55,881 | €39,836 | -€16,045 | -28.7% |
| Suppliers | 440/4 | €55,881 | €39,836 | -€16,045 | -28.7% |
| Taxes, remuneration and social security | 45 | €17,698 | €23,944 | +€6,246 | +35.3% |
| Taxes | 450/3 | €8,765 | €21,036 | +€12,271 | +140.0% |
| Remuneration and social security | 454/9 | €8,933 | €2,908 | -€6,025 | -67.4% |
| Other amounts payable | 47/48 | €173,499 | €185,262 | +€11,763 | +6.8% |
| Accrued charges and deferred income | 492/3 | €333 | €573 | +€240 | +72.1% |
| Non-recurring operating income | 76A | €1,300 | - | -€1,300 | |
| Remuneration, social security and pensions | 62 | €259,605 | €274,496 | +€14,891 | +5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,309 | €44,745 | +€2,437 | +5.8% |
| Other operating charges | 640/8 | €2,368 | €2,744 | +€376 | +15.9% |
| Non-recurring operating charges | 66A | - | €1,515 | +€1,515 | |
| Gross operating margin | 9900 | €544,904 | €604,188 | +€59,284 | +10.9% |
| Operating profit (loss) | 9901 | €240,622 | €280,688 | +€40,065 | +16.7% |
| Financial income | 75/76B | €5,939 | €8,960 | +€3,021 | +50.9% |
| Recurring financial income | 75 | €5,939 | €8,960 | +€3,021 | +50.9% |
| Financial charges | 65/66B | €4,206 | €4,903 | +€697 | +16.6% |
| Recurring financial charges | 65 | €4,206 | €4,903 | +€697 | +16.6% |
| Profit (loss) for the period before taxes | 9903 | €242,355 | €284,745 | +€42,389 | +17.5% |
| Transfer from deferred taxes | 780 | €370 | €370 | = | 0.0% |
| Income taxes | 67/77 | €29,002 | €35,010 | +€6,008 | +20.7% |
| Profit (loss) for the period | 9904 | €213,723 | €250,105 | +€36,382 | +17.0% |
| Transfer from tax-exempt reserves | 789 | €1,109 | €1,109 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €214,832 | €251,213 | +€36,382 | +16.9% |
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.