Bay Line: 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.
What changed
Bay Line
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€204,941
2024 · €254,978-€50,038
Equity
€6.6m
2024 · €6.4m+€204,941
Cash
€363,844
2024 · €282,539+€81,305
Balance sheet total
€8.7m
2024 · €8.8m-€109,499
Largest movements
Assets
- Receivables within one year -€234,847
down €234,847 (-25.9%), from €907,500 to €672,653
Equity and liabilities
- Debts after one year -€233,529
down €233,529 (-12.3%), from €1.9m to €1.7m
- Profit (loss) carried forward +€204,941
up €204,941 (+5.6%), from €3.7m to €3.9m
Income statement
- Gross operating margin -€82,680
down €82,680 (-17.5%), from €473,305 to €390,625
- Taxes -€42,625
down €42,625 (-39.8%), from €107,000 to €64,375
- Depreciation +€6,410
new in 2025: €6,410
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.
Result 2024
€254,978
Gross operating margin
-€82,680
Staff costs
-€3,176
Depreciation
-€6,410
Other operating charges
+€2,939
Financial charges
-€3,336
Taxes
+€42,625
Result 2025
€204,941
raises the resultlowers the result
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.
From operations
+€357,616
Investment
-€50,453
Financing
-€225,859
Cash 2024
€282,539
From operations (derived)
+€357,616
Net result for the year
+€204,941
Depreciation
+€6,410
Receivables within one year
+€234,847
Trade debts
-€2,875
Tax, wage and social debts
-€64,456
Other debts
-€21,250
Investment (derived)
-€50,453
Investment in fixed assets (net)
-€50,453
Financing
-€225,859
Debts after one year
-€233,529
Current portion of long-term debt
+€7,670
Cash 2025
€363,844
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,797,993 | €8,688,494 | -€109,499 | -1.2% |
| Fixed assets | 21/28 | €7,607,954 | €7,651,997 | +€44,043 | +0.6% |
| Intangible fixed assets | 21 | - | €44,043 | +€44,043 | |
| Financial fixed assets | 28 | €7,607,954 | €7,607,954 | = | 0.0% |
| Current assets | 29/58 | €1,190,039 | €1,036,497 | -€153,542 | -12.9% |
| Amounts receivable within one year | 40/41 | €907,500 | €672,653 | -€234,847 | -25.9% |
| Trade receivables | 40 | €907,500 | €672,653 | -€234,847 | -25.9% |
| Cash at bank and in hand | 54/58 | €282,539 | €363,844 | +€81,305 | +28.8% |
| Total equity and liabilities | 10/49 | €8,797,993 | €8,688,494 | -€109,499 | -1.2% |
| Equity | 10/15 | €6,405,248 | €6,610,189 | +€204,941 | +3.2% |
| Contributions | 10/11 | €2,500,000 | €2,500,000 | = | 0.0% |
| Capital | 10 | €2,500,000 | €2,500,000 | = | 0.0% |
| Issued capital | 100 | €2,500,000 | €2,500,000 | = | 0.0% |
| Reserves | 13 | €250,000 | €250,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €250,000 | €250,000 | = | 0.0% |
| Legal reserve | 130 | €250,000 | €250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,655,248 | €3,860,189 | +€204,941 | +5.6% |
| Amounts payable | 17/49 | €2,392,745 | €2,078,305 | -€314,440 | -13.1% |
| Amounts payable after more than one year | 17 | €1,894,057 | €1,660,529 | -€233,529 | -12.3% |
| Financial debts | 170/4 | €1,894,057 | €1,660,529 | -€233,529 | -12.3% |
| Amounts payable within one year | 42/48 | €498,687 | €417,776 | -€80,911 | -16.2% |
| Current portion of amounts payable after more than one year | 42 | €196,246 | €203,916 | +€7,670 | +3.9% |
| Trade debts | 44 | €6,282 | €3,407 | -€2,875 | -45.8% |
| Suppliers | 440/4 | €6,282 | €3,407 | -€2,875 | -45.8% |
| Taxes, remuneration and social security | 45 | €274,910 | €210,454 | -€64,456 | -23.4% |
| Taxes | 450/3 | €262,451 | €197,577 | -€64,874 | -24.7% |
| Remuneration and social security | 454/9 | €12,459 | €12,877 | +€418 | +3.4% |
| Other amounts payable | 47/48 | €21,250 | - | -€21,250 | |
| Remuneration, social security and pensions | 62 | €88,400 | €91,577 | +€3,176 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €6,410 | +€6,410 | |
| Other operating charges | 640/8 | €4,401 | €1,462 | -€2,939 | -66.8% |
| Gross operating margin | 9900 | €473,305 | €390,625 | -€82,680 | -17.5% |
| Operating profit (loss) | 9901 | €380,504 | €291,177 | -€89,327 | -23.5% |
| Financial charges | 65/66B | €18,526 | €21,861 | +€3,336 | +18.0% |
| Recurring financial charges | 65 | €18,526 | €21,861 | +€3,336 | +18.0% |
| Profit (loss) for the period before taxes | 9903 | €361,978 | €269,315 | -€92,663 | -25.6% |
| Income taxes | 67/77 | €107,000 | €64,375 | -€42,625 | -39.8% |
| Profit (loss) for the period | 9904 | €254,978 | €204,941 | -€50,038 | -19.6% |
| Profit (loss) for the period to be appropriated | 9905 | €254,978 | €204,941 | -€50,038 | -19.6% |
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 21 October 2026 via checked.be.