BAW: 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.
BAW
Largest movements
- Cash -€70,692
down €70,692 (-72.3%), from €97,712 to €27,020
mainly Other debts (-€51,607) and Net result for the year (-€28,387)
- Tangible fixed assets -€22,033
down €22,033 (-11.2%), from €196,172 to €174,138
of which Furniture and vehicles: -€14,113
- Other debts -€51,607
down €51,607 (-60.2%), from €85,711 to €34,104
- Profit (loss) carried forward -€28,387
down €28,387 (-81.5%), from -€34,833 to -€63,220
- Debts after one year -€11,823
down €11,823 (-11.8%), from €100,252 to €88,429
- Trade debts -€3,325
down €3,325 (-54.5%), from €6,105 to €2,780
- Gross operating margin +€5,120
up €5,120 (+98.0%), from €5,224 to €10,343
- Other operating charges +€3,306
up €3,306 (+62.0%), from €5,336 to €8,642
- Financial charges +€727
up €727 (+10.4%), from €6,968 to €7,695
of which Financial charges: +€724
- Depreciation -€610
down €610 (-2.7%), from €22,643 to €22,033
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 | €317,084 | €222,310 | -€94,773 | -29.9% |
| Fixed assets | 21/28 | €196,326 | €174,293 | -€22,033 | -11.2% |
| Tangible fixed assets | 22/27 | €196,172 | €174,138 | -€22,033 | -11.2% |
| Land and buildings | 22 | €151,036 | €143,115 | -€7,921 | -5.2% |
| Furniture and vehicles | 24 | €45,136 | €31,024 | -€14,113 | -31.3% |
| Financial fixed assets | 28 | €154 | €154 | = | 0.0% |
| Current assets | 29/58 | €120,757 | €48,018 | -€72,740 | -60.2% |
| Stocks and contracts in progress | 3 | €17,852 | €15,630 | -€2,222 | -12.4% |
| Stocks | 30/36 | €17,852 | €15,630 | -€2,222 | -12.4% |
| Amounts receivable within one year | 40/41 | €4,082 | €5,368 | +€1,285 | +31.5% |
| Trade receivables | 40 | €4,082 | €5,368 | +€1,285 | +31.5% |
| Cash at bank and in hand | 54/58 | €97,712 | €27,020 | -€70,692 | -72.3% |
| Deferred charges and accrued income | 490/1 | €1,111 | - | -€1,111 | |
| Total equity and liabilities | 10/49 | €317,084 | €222,310 | -€94,773 | -29.9% |
| Equity | 10/15 | €106,070 | €77,683 | -€28,387 | -26.8% |
| Contributions | 10/11 | €106,000 | €106,000 | = | 0.0% |
| Reserves | 13 | €34,904 | €34,904 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,904 | €4,904 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,904 | €4,904 | = | 0.0% |
| Distributable reserves | 133 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,833 | -€63,220 | -€28,387 | -81.5% |
| Amounts payable | 17/49 | €211,013 | €144,627 | -€66,386 | -31.5% |
| Amounts payable after more than one year | 17 | €100,252 | €88,429 | -€11,823 | -11.8% |
| Financial debts | 170/4 | €100,252 | €88,429 | -€11,823 | -11.8% |
| Amounts payable within one year | 42/48 | €105,893 | €50,442 | -€55,450 | -52.4% |
| Current portion of amounts payable after more than one year | 42 | €11,330 | €11,330 | = | 0.0% |
| Trade debts | 44 | €6,105 | €2,780 | -€3,325 | -54.5% |
| Suppliers | 440/4 | €6,105 | €2,780 | -€3,325 | -54.5% |
| Taxes, remuneration and social security | 45 | €2,747 | €2,228 | -€519 | -18.9% |
| Taxes | 450/3 | €2,747 | €2,228 | -€519 | -18.9% |
| Other amounts payable | 47/48 | €85,711 | €34,104 | -€51,607 | -60.2% |
| Accrued charges and deferred income | 492/3 | €4,868 | €5,756 | +€887 | +18.2% |
| Remuneration, social security and pensions | 62 | €359 | €359 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,643 | €22,033 | -€610 | -2.7% |
| Other operating charges | 640/8 | €5,336 | €8,642 | +€3,306 | +62.0% |
| Gross operating margin | 9900 | €5,224 | €10,343 | +€5,120 | +98.0% |
| Operating profit (loss) | 9901 | -€23,115 | -€20,692 | +€2,423 | +10.5% |
| Financial income | 75/76B | €7 | - | -€7 | |
| Recurring financial income | 75 | €7 | - | -€7 | |
| Financial charges | 65/66B | €6,968 | €7,695 | +€727 | +10.4% |
| Recurring financial charges | 65 | €6,968 | €7,693 | +€724 | +10.4% |
| Non-recurring financial charges | 66B | - | €3 | +€3 | |
| Profit (loss) for the period before taxes | 9903 | -€30,077 | -€28,387 | +€1,690 | +5.6% |
| Income taxes | 67/77 | €0 | - | -€0 | |
| Profit (loss) for the period | 9904 | -€30,077 | -€28,387 | +€1,690 | +5.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,077 | -€28,387 | +€1,690 | +5.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.