BAYARD development: 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.
BAYARD development
Largest movements
- Tangible fixed assets -€437,528
down €437,528 (-100.0%), from €437,528 to €0
of which Land and buildings: -€350,322
- Intangible fixed assets -€16,258
down €16,258 (-100.0%), from €16,258 to €0
- Receivables within one year +€11,183
up €11,183 (+22.9%), from €48,914 to €60,098
of which Trade receivables: +€12,237
- Deferred charges and accrued income -€5,602
down €5,602 (-61.5%), from €9,112 to €3,510
- Debts after one year -€631,344
down €631,344 (-88.9%), from €710,241 to €78,897
of which Other amounts payable: -€462,469
- Profit (loss) carried forward +€383,797
up €383,797 (+69.7%), from -€550,829 to -€167,032
- Trade debts -€156,778
down €156,778 (-92.1%), from €170,221 to €13,443
- Accrued charges and deferred income -€25,385
down €25,385 (-100.0%), from €25,385 to €0
- Current portion of long-term debt -€20,265
down €20,265 (-43.5%), from €46,564 to €26,299
- Gross operating margin +€435,004
up €435,004 (+10096.2%), from €4,309 to €439,312
- Purchases and services +€78,037
up €78,037 (+134.2%), from €58,132 to €136,169
- Depreciation -€41,921
down €41,921 (-65.0%), from €64,474 to €22,553
- Turnover -€37,101
down €37,101 (-59.4%), from €62,441 to €25,340
- Financial charges +€11,906
up €11,906 (+108.6%), from €10,966 to €22,872
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 | €514,313 | €69,047 | -€445,266 | -86.6% |
| Fixed assets | 21/28 | €453,786 | €0 | -€453,786 | -100.0% |
| Intangible fixed assets | 21 | €16,258 | €0 | -€16,258 | -100.0% |
| Tangible fixed assets | 22/27 | €437,528 | €0 | -€437,528 | -100.0% |
| Land and buildings | 22 | €350,322 | €0 | -€350,322 | -100.0% |
| Plant, machinery and equipment | 23 | €86,721 | €0 | -€86,721 | -100.0% |
| Furniture and vehicles | 24 | €484 | €0 | -€484 | -100.0% |
| Current assets | 29/58 | €60,527 | €69,047 | +€8,520 | +14.1% |
| Amounts receivable within one year | 40/41 | €48,914 | €60,098 | +€11,183 | +22.9% |
| Trade receivables | 40 | €47,861 | €60,098 | +€12,237 | +25.6% |
| Other amounts receivable | 41 | €1,054 | €0 | -€1,054 | -100.0% |
| Current investments | 50/53 | €521 | €524 | +€3 | +0.5% |
| Cash at bank and in hand | 54/58 | €1,980 | €4,915 | +€2,936 | +148.3% |
| Deferred charges and accrued income | 490/1 | €9,112 | €3,510 | -€5,602 | -61.5% |
| Total equity and liabilities | 10/49 | €514,313 | €69,047 | -€445,266 | -86.6% |
| Equity | 10/15 | -€445,829 | -€62,032 | +€383,797 | +86.1% |
| Contributions | 10/11 | €105,000 | €105,000 | = | 0.0% |
| Capital | 10 | €105,000 | €105,000 | = | 0.0% |
| Issued capital | 100 | €105,000 | €105,000 | = | 0.0% |
| Contributions outside capital | 11 | €0 | €0 | = | |
| Share premium | 1100/10 | €0 | €0 | = | |
| Profit (loss) carried forward | 14 | -€550,829 | -€167,032 | +€383,797 | +69.7% |
| Amounts payable | 17/49 | €960,142 | €131,079 | -€829,063 | -86.3% |
| Amounts payable after more than one year | 17 | €710,241 | €78,897 | -€631,344 | -88.9% |
| Financial debts | 170/4 | €168,330 | €0 | -€168,330 | -100.0% |
| Advances received on contracts in progress | 176 | €545 | €0 | -€545 | -100.0% |
| Other amounts payable | 178/9 | €541,367 | €78,897 | -€462,469 | -85.4% |
| Amounts payable within one year | 42/48 | €224,515 | €52,182 | -€172,333 | -76.8% |
| Current portion of amounts payable after more than one year | 42 | €46,564 | €26,299 | -€20,265 | -43.5% |
| Trade debts | 44 | €170,221 | €13,443 | -€156,778 | -92.1% |
| Suppliers | 440/4 | €170,221 | €13,443 | -€156,778 | -92.1% |
| Taxes, remuneration and social security | 45 | - | €971 | +€971 | |
| Taxes | 450/3 | - | €971 | +€971 | |
| Other amounts payable | 47/48 | €7,729 | €11,469 | +€3,739 | +48.4% |
| Accrued charges and deferred income | 492/3 | €25,385 | €0 | -€25,385 | -100.0% |
| Turnover | 70 | €62,441 | €25,340 | -€37,101 | -59.4% |
| Non-recurring operating income | 76A | €0 | €458,767 | +€458,767 | |
| Goods, raw materials, services and sundry goods | 60/61 | €58,132 | €136,169 | +€78,037 | +134.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,474 | €22,553 | -€41,921 | -65.0% |
| Other operating charges | 640/8 | €13,190 | €10,094 | -€3,096 | -23.5% |
| Non-recurring operating charges | 66A | €8,620 | €0 | -€8,620 | -100.0% |
| Gross operating margin | 9900 | €4,309 | €439,312 | +€435,004 | +10096.2% |
| Operating profit (loss) | 9901 | -€81,975 | €406,665 | +€488,640 | |
| Financial income | 75/76B | €1 | €3 | +€2 | +152.8% |
| Recurring financial income | 75 | €1 | €3 | +€2 | +152.8% |
| Financial charges | 65/66B | €10,966 | €22,872 | +€11,906 | +108.6% |
| Recurring financial charges | 65 | €10,966 | €22,872 | +€11,906 | +108.6% |
| Profit (loss) for the period before taxes | 9903 | -€92,939 | €383,797 | +€476,736 | |
| Profit (loss) for the period | 9904 | -€92,939 | €383,797 | +€476,736 | |
| Profit (loss) for the period to be appropriated | 9905 | -€92,939 | €383,797 | +€476,736 |
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 11 October 2026 via checked.be.