BAX INVEST: what changed
BAX INVEST
Largest movements
- Tangible fixed assets -€22,576
down €22,576 (-9.7%), from €233,136 to €210,560
of which Leasing and similar rights: -€14,743
- Current investments -€11,546
down €11,546 (-7.3%), from €157,420 to €145,874
- Cash +€10,852
up €10,852 (+65.3%), from €16,627 to €27,478
mainly Investment in fixed assets (net) (+€17,120) and Current investments (+€11,546)
- Debts after one year -€7,696
down €7,696 (-100%), from €7,696 to €0
- Reserves -€7,250
down €7,250 (-1.5%), from €480,200 to €472,950
- Financial income +€28,516
up €28,516 (+425%), from €6,712 to €35,228
of which Financial income: +€20,773
- Financial charges +€18,677
up €18,677 (+693%), from €2,694 to €21,370
- Other operating charges +€11,159
up €11,159 (+350%), from €3,186 to €14,345
- Gross operating margin +€8,550
up €8,550, from -€5,639 to €2,911
- Depreciation -€7,041
down €7,041 (-56.3%), from €12,497 to €5,456
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €512,671 | €492,963 | -€19,708 | -3.8% |
| Fixed assets | 21/28 | €233,136 | €210,560 | -€22,576 | -9.7% |
| Tangible fixed assets | 22/27 | €233,136 | €210,560 | -€22,576 | -9.7% |
| Land and buildings | 22 | €216,017 | €210,560 | -€5,456 | -2.5% |
| Plant, machinery and equipment | 23 | €963 | €0 | -€963 | -100% |
| Furniture and vehicles | 24 | €1,414 | €0 | -€1,414 | -100% |
| Leasing and similar rights | 25 | €14,743 | €0 | -€14,743 | -100% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €279,535 | €282,403 | +€2,868 | +1.0% |
| Amounts receivable within one year | 40/41 | €104,337 | €109,050 | +€4,713 | +4.5% |
| Trade receivables | 40 | €380 | €24 | -€355 | -93.6% |
| Other amounts receivable | 41 | €103,957 | €109,026 | +€5,068 | +4.9% |
| Current investments | 50/53 | €157,420 | €145,874 | -€11,546 | -7.3% |
| Cash at bank and in hand | 54/58 | €16,627 | €27,478 | +€10,852 | +65.3% |
| Deferred charges and accrued income | 490/1 | €1,151 | €0 | -€1,151 | -100% |
| Total equity and liabilities | 10/49 | €512,671 | €492,963 | -€19,708 | -3.8% |
| Equity | 10/15 | €500,231 | €492,963 | -€7,268 | -1.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €480,200 | €472,950 | -€7,250 | -1.5% |
| Distributable reserves | 133 | €480,200 | €472,950 | -€7,250 | -1.5% |
| Profit (loss) carried forward | 14 | €31 | €13 | -€18 | -58.6% |
| Amounts payable | 17/49 | €12,439 | €0 | -€12,439 | -100% |
| Amounts payable after more than one year | 17 | €7,696 | €0 | -€7,696 | -100% |
| Financial debts | 170/4 | €7,696 | €0 | -€7,696 | -100% |
| Amounts payable within one year | 42/48 | €4,744 | €0 | -€4,744 | -100% |
| Current portion of amounts payable after more than one year | 42 | €3,497 | €0 | -€3,497 | -100% |
| Trade debts | 44 | €1,219 | €0 | -€1,219 | -100% |
| Suppliers | 440/4 | €1,219 | €0 | -€1,219 | -100% |
| Taxes, remuneration and social security | 45 | €28 | €0 | -€28 | -100% |
| Taxes | 450/3 | €28 | €0 | -€28 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,497 | €5,456 | -€7,041 | -56.3% |
| Other operating charges | 640/8 | €3,186 | €14,345 | +€11,159 | +350% |
| Gross operating margin | 9900 | -€5,639 | €2,911 | +€8,550 | |
| Operating profit (loss) | 9901 | -€21,321 | -€16,890 | +€4,432 | +20.8% |
| Financial income | 75/76B | €6,712 | €35,228 | +€28,516 | +425% |
| Recurring financial income | 75 | €6,712 | €27,485 | +€20,773 | +309% |
| Non-recurring financial income | 76B | - | €7,743 | +€7,743 | |
| Financial charges | 65/66B | €2,694 | €21,370 | +€18,677 | +693% |
| Recurring financial charges | 65 | €2,694 | €21,370 | +€18,677 | +693% |
| Profit (loss) for the period before taxes | 9903 | -€17,303 | -€3,032 | +€14,271 | +82.5% |
| Income taxes | 67/77 | €1,985 | €4,236 | +€2,251 | +113% |
| Profit (loss) for the period | 9904 | -€19,289 | -€7,268 | +€12,020 | +62.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,289 | -€7,268 | +€12,020 | +62.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.