BAX-VLOEMANS: 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.
BAX-VLOEMANS
Largest movements
- Tangible fixed assets -€20,185
down €20,185 (-30.3%), from €66,648 to €46,463
of which Furniture and vehicles: -€12,286
- Cash +€14,372
up €14,372 (+26.8%), from €53,597 to €67,969
mainly Net result for the year (+€55,748) and Depreciation (+€20,185)
- Receivables within one year -€5,370
down €5,370 (-3.1%), from €173,670 to €168,300
of which Other amounts receivable: -€3,753
- Reserves +€55,748
up €55,748 (+42.8%), from €130,335 to €186,083
of which Distributable reserves: +€55,748
- Trade debts -€36,926
down €36,926 (-58.1%), from €63,540 to €26,614
- Short-term financial debts -€35,000
down €35,000 (-35.0%), from €100,000 to €65,000
- Tax, wage and social debts +€13,116
up €13,116 (+102%), from €12,893 to €26,009
of which Taxes: +€18,695
- Debts after one year -€12,349
down €12,349 (-47.7%), from €25,869 to €13,520
- Gross operating margin +€46,616
up €46,616 (+18.0%), from €259,352 to €305,968
- Other operating charges -€15,318
down €15,318 (-82.6%), from €18,536 to €3,217
- Taxes +€14,491
up €14,491 (+956%), from €1,516 to €16,007
- Depreciation -€6,063
down €6,063 (-23.1%), from €26,248 to €20,185
- Staff costs -€4,443
down €4,443 (-2.1%), from €209,630 to €205,186
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 | €374,203 | €359,587 | -€14,616 | -3.9% |
| Fixed assets | 21/28 | €66,648 | €46,463 | -€20,185 | -30.3% |
| Tangible fixed assets | 22/27 | €66,648 | €46,463 | -€20,185 | -30.3% |
| Plant, machinery and equipment | 23 | €6,935 | €4,294 | -€2,640 | -38.1% |
| Furniture and vehicles | 24 | €40,680 | €28,394 | -€12,286 | -30.2% |
| Other tangible fixed assets | 26 | €19,033 | €13,775 | -€5,258 | -27.6% |
| Current assets | 29/58 | €307,554 | €313,124 | +€5,569 | +1.8% |
| Stocks and contracts in progress | 3 | €80,288 | €76,854 | -€3,433 | -4.3% |
| Stocks | 30/36 | €80,288 | €76,854 | -€3,433 | -4.3% |
| Amounts receivable within one year | 40/41 | €173,670 | €168,300 | -€5,370 | -3.1% |
| Trade receivables | 40 | €169,918 | €168,300 | -€1,617 | -1.0% |
| Other amounts receivable | 41 | €3,753 | - | -€3,753 | |
| Cash at bank and in hand | 54/58 | €53,597 | €67,969 | +€14,372 | +26.8% |
| Total equity and liabilities | 10/49 | €374,203 | €359,587 | -€14,616 | -3.9% |
| Equity | 10/15 | €148,885 | €204,633 | +€55,748 | +37.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €130,335 | €186,083 | +€55,748 | +42.8% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €128,480 | €184,228 | +€55,748 | +43.4% |
| Amounts payable | 17/49 | €225,318 | €154,954 | -€70,364 | -31.2% |
| Amounts payable after more than one year | 17 | €25,869 | €13,520 | -€12,349 | -47.7% |
| Financial debts | 170/4 | €25,869 | €13,520 | -€12,349 | -47.7% |
| Amounts payable within one year | 42/48 | €199,449 | €141,434 | -€58,015 | -29.1% |
| Current portion of amounts payable after more than one year | 42 | €18,465 | €12,382 | -€6,083 | -32.9% |
| Financial debts | 43 | €100,000 | €65,000 | -€35,000 | -35.0% |
| Credit institutions | 430/8 | €100,000 | €65,000 | -€35,000 | -35.0% |
| Trade debts | 44 | €63,540 | €26,614 | -€36,926 | -58.1% |
| Suppliers | 440/4 | €63,540 | €26,614 | -€36,926 | -58.1% |
| Taxes, remuneration and social security | 45 | €12,893 | €26,009 | +€13,116 | +102% |
| Taxes | 450/3 | €130 | €18,825 | +€18,695 | +14,354% |
| Remuneration and social security | 454/9 | €12,763 | €7,184 | -€5,579 | -43.7% |
| Other amounts payable | 47/48 | €4,551 | €11,428 | +€6,878 | +151% |
| Remuneration, social security and pensions | 62 | €209,630 | €205,186 | -€4,443 | -2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,248 | €20,185 | -€6,063 | -23.1% |
| Other operating charges | 640/8 | €18,536 | €3,217 | -€15,318 | -82.6% |
| Gross operating margin | 9900 | €259,352 | €305,968 | +€46,616 | +18.0% |
| Operating profit (loss) | 9901 | €4,938 | €77,379 | +€72,441 | +1,467% |
| Financial income | 75/76B | €5 | €510 | +€505 | +10,024% |
| Recurring financial income | 75 | €5 | €510 | +€505 | +10,024% |
| Financial charges | 65/66B | €8,505 | €6,135 | -€2,370 | -27.9% |
| Recurring financial charges | 65 | €8,505 | €6,135 | -€2,370 | -27.9% |
| Profit (loss) for the period before taxes | 9903 | -€3,562 | €71,755 | +€75,316 | |
| Income taxes | 67/77 | €1,516 | €16,007 | +€14,491 | +956% |
| Profit (loss) for the period | 9904 | -€5,077 | €55,748 | +€60,825 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,077 | €55,748 | +€60,825 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.