Bay Management Services: 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.
Bay Management Services
Largest movements
- Financial fixed assets -€70,000
no longer reported in 2025 (was €70,000)
- Receivables within one year -€33,805
down €33,805 (-32.2%), from €104,850 to €71,046
of which Trade receivables: -€37,175
- Cash +€9,403
up €9,403 (+19.2%), from €48,895 to €58,298
mainly Net result for the year (+€76,726) and Investment in fixed assets (net) (+€70,000)
- Profit (loss) carried forward -€146,183
no longer reported in 2025 (was €146,183)
- Other debts +€57,552
up €57,552 (+181%), from €31,787 to €89,340
- Tax, wage and social debts -€10,591
down €10,591 (-27.0%), from €39,254 to €28,663
of which Taxes: -€15,385
- Gross operating margin +€38,718
up €38,718 (+28.3%), from €136,693 to €175,411
- Staff costs +€3,545
up €3,545 (+5.4%), from €65,352 to €68,898
- Financial income -€3,227
no longer reported in 2025 (was €3,227)
- Taxes +€1,997
up €1,997 (+9.7%), from €20,632 to €22,629
- Financial charges +€1,852
up €1,852 (+99.8%), from €1,855 to €3,707
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 | €227,611 | €130,514 | -€97,097 | -42.7% |
| Fixed assets | 21/28 | €71,659 | €1,170 | -€70,489 | -98.4% |
| Tangible fixed assets | 22/27 | €1,659 | €1,170 | -€489 | -29.5% |
| Furniture and vehicles | 24 | €1,659 | €1,170 | -€489 | -29.5% |
| Financial fixed assets | 28 | €70,000 | - | -€70,000 | |
| Current assets | 29/58 | €155,952 | €129,344 | -€26,608 | -17.1% |
| Amounts receivable within one year | 40/41 | €104,850 | €71,046 | -€33,805 | -32.2% |
| Trade receivables | 40 | €73,350 | €36,175 | -€37,175 | -50.7% |
| Other amounts receivable | 41 | €31,500 | €34,871 | +€3,371 | +10.7% |
| Cash at bank and in hand | 54/58 | €48,895 | €58,298 | +€9,403 | +19.2% |
| Deferred charges and accrued income | 490/1 | €2,207 | - | -€2,207 | |
| Total equity and liabilities | 10/49 | €227,611 | €130,514 | -€97,097 | -42.7% |
| Equity | 10/15 | €149,783 | €5,326 | -€144,458 | -96.4% |
| Contributions | 10/11 | €3,600 | €3,600 | = | 0.0% |
| Reserves | 13 | - | €1,726 | +€1,726 | |
| Distributable reserves | 133 | - | €1,726 | +€1,726 | |
| Profit (loss) carried forward | 14 | €146,183 | - | -€146,183 | |
| Amounts payable | 17/49 | €77,828 | €125,189 | +€47,361 | +60.9% |
| Amounts payable within one year | 42/48 | €77,828 | €125,189 | +€47,361 | +60.9% |
| Trade debts | 44 | €6,786 | €7,186 | +€400 | +5.9% |
| Suppliers | 440/4 | €6,786 | €7,186 | +€400 | +5.9% |
| Taxes, remuneration and social security | 45 | €39,254 | €28,663 | -€10,591 | -27.0% |
| Taxes | 450/3 | €31,604 | €16,220 | -€15,385 | -48.7% |
| Remuneration and social security | 454/9 | €7,650 | €12,444 | +€4,794 | +62.7% |
| Other amounts payable | 47/48 | €31,787 | €89,340 | +€57,552 | +181% |
| Remuneration, social security and pensions | 62 | €65,352 | €68,898 | +€3,545 | +5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €489 | €489 | = | 0.0% |
| Other operating charges | 640/8 | €1,345 | €2,962 | +€1,618 | +120% |
| Gross operating margin | 9900 | €136,693 | €175,411 | +€38,718 | +28.3% |
| Operating profit (loss) | 9901 | €69,507 | €103,062 | +€33,555 | +48.3% |
| Financial income | 75/76B | €3,227 | - | -€3,227 | |
| Recurring financial income | 75 | €3,227 | - | -€3,227 | |
| Financial charges | 65/66B | €1,855 | €3,707 | +€1,852 | +99.8% |
| Recurring financial charges | 65 | €1,855 | €3,707 | +€1,852 | +99.8% |
| Profit (loss) for the period before taxes | 9903 | €70,879 | €99,355 | +€28,476 | +40.2% |
| Income taxes | 67/77 | €20,632 | €22,629 | +€1,997 | +9.7% |
| Profit (loss) for the period | 9904 | €50,247 | €76,726 | +€26,479 | +52.7% |
| Profit (loss) for the period to be appropriated | 9905 | €50,247 | €76,726 | +€26,479 | +52.7% |
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 23 October 2026 via checked.be.