Bayer: what changed
Two fiscal 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
Bayer
NACE 20.140, Manufacture of chemicals and chemical products
fiscal year 2023 against 2025not consecutivefiled annual accounts (NBB)
Net result for the year
€3.4m
2023 · €6.5m-€3.0m
Equity
€5.53bn
2023 · €11.77bn-€6.24bn
Cash
-
not filed
Balance sheet total
€5.56bn
2023 · €11.86bn-€6.30bn
Largest movements
Assets
- Financial fixed assets -€6.25bn
down €6.25bn (-53.4%), from €11.70bn to €5.45bn
of which Affiliated companies: -€6.25bn
Equity and liabilities
- Contributions -€7.14bn
down €7.14bn (-88.2%), from €8.09bn to €952.6m
of which Capital: -€6.98bn
- Reserves +€896.6m
up €896.6m (+24.3%), from €3.69bn to €4.58bn
of which Distributable reserves: +€1.03bn
Income statement
- Turnover -€57.3m
down €57.3m (-24.6%), from €232.4m to €175.2m
- Other operating charges -€44.8m
down €44.8m (-49.3%), from €90.9m to €46.1m
- Goods and materials -€18.8m
down €18.8m (-18.1%), from €103.7m to €84.8m
of which Purchases: -€33.2m
- Write-downs +€8.6m
up €8.6m, from -€763,077 to €7.8m
- Provisions +€8.5m
up €8.5m (+84.7%), from -€10.0m to -€1.5m
From the 2023 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 2023
€6.5m
Turnover
-€57.3m
Other operating income
-€840,046
Goods and materials
+€18.8m
Services and other goods
+€3.2m
Staff costs
+€5.0m
Depreciation
+€507,329
Write-downs
-€8.6m
Provisions
-€8.5m
Other operating charges
+€44.8m
Other operating items
-€2.0m
Financial income
+€144,138
Financial charges
+€639,474
Taxes
+€1.7m
Deferred taxes and other
-€656,767
Result 2025
€3.4m
Cash bridge derived
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,859,001,314 | €5,558,700,105 | -€6.30bn | -53.1% |
| Fixed assets | 21/28 | €11,703,208,261 | €5,454,078,131 | -€6.25bn | -53.4% |
| Tangible fixed assets | 22/27 | €227,961 | €1,157,473 | +€929,512 | +407.8% |
| Land and buildings | 22 | €18,406 | - | -€18,406 | |
| Plant, machinery and equipment | 23 | €63,366 | €51,900 | -€11,466 | -18.1% |
| Furniture and vehicles | 24 | €57,148 | €160,932 | +€103,784 | +181.6% |
| Other tangible fixed assets | 26 | - | €930,711 | +€930,711 | |
| Assets under construction and advance payments | 27 | €89,041 | €13,930 | -€75,111 | -84.4% |
| Financial fixed assets | 28 | €11,702,980,300 | €5,452,920,658 | -€6.25bn | -53.4% |
| Affiliated companies | 280/1 | €11,701,774,409 | €5,451,774,409 | -€6.25bn | -53.4% |
| Participating interests | 280 | €11,701,774,409 | €5,451,774,409 | -€6.25bn | -53.4% |
| Other financial fixed assets | 284/8 | €1,205,891 | €1,146,249 | -€59,642 | -4.9% |
| Amounts receivable and cash guarantees | 285/8 | €1,205,891 | €1,146,249 | -€59,642 | -4.9% |
| Current assets | 29/58 | €155,793,053 | €104,621,973 | -€51.2m | -32.8% |
| Stocks and contracts in progress | 3 | €50,521,580 | €27,813,033 | -€22.7m | -44.9% |
| Stocks | 30/36 | €50,521,580 | €27,813,033 | -€22.7m | -44.9% |
| Goods purchased for resale | 34 | €50,521,580 | €27,813,033 | -€22.7m | -44.9% |
| Amounts receivable within one year | 40/41 | €105,271,473 | €76,808,039 | -€28.5m | -27.0% |
| Trade receivables | 40 | €84,613,490 | €53,442,787 | -€31.2m | -36.8% |
| Other amounts receivable | 41 | €20,657,982 | €23,365,252 | +€2.7m | +13.1% |
| Deferred charges and accrued income | 490/1 | - | €901 | +€901 | |
| Total equity and liabilities | 10/49 | €11,859,001,314 | €5,558,700,105 | -€6.30bn | -53.1% |
| Equity | 10/15 | €11,774,612,302 | €5,534,189,801 | -€6.24bn | -53.0% |
| Contributions | 10/11 | €8,089,568,681 | €952,568,681 | -€7.14bn | -88.2% |
| Capital | 10 | €6,979,978,938 | €61,500 | -€6.98bn | -100.0% |
| Issued capital | 100 | €6,979,978,938 | €61,500 | -€6.98bn | -100.0% |
| Outside capital | 11 | €1,109,589,743 | €952,507,181 | -€157.1m | -14.2% |
| Share premium | 1100/10 | €1,109,589,743 | €952,507,181 | -€157.1m | -14.2% |
| Reserves | 13 | €3,685,043,621 | €4,581,621,121 | +€896.6m | +24.3% |
| Non-distributable reserves | 130/1 | €132,450,143 | €248,275 | -€132.2m | -99.8% |
| Legal reserve | 130 | €132,208,017 | €6,150 | -€132.2m | -100.0% |
| Other | 1319 | €242,125 | €242,125 | = | 0.0% |
| Tax-exempt reserves | 132 | €634,831 | €634,831 | = | 0.0% |
| Distributable reserves | 133 | €3,551,958,647 | €4,580,738,014 | +€1.03bn | +29.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €2,315,167 | €1,963,668 | -€351,499 | -15.2% |
| Provisions for liabilities and charges | 160/5 | €2,315,167 | €1,963,668 | -€351,499 | -15.2% |
| Other liabilities and charges | 164/5 | €2,315,167 | €1,963,668 | -€351,499 | -15.2% |
| Amounts payable | 17/49 | €82,073,845 | €22,546,636 | -€59.5m | -72.5% |
| Amounts payable within one year | 42/48 | €82,050,876 | €22,480,345 | -€59.6m | -72.6% |
| Trade debts | 44 | €11,665,422 | €8,377,072 | -€3.3m | -28.2% |
| Suppliers | 440/4 | €11,665,422 | €8,377,072 | -€3.3m | -28.2% |
| Advances received on contracts in progress | 46 | €16,498 | €3,767 | -€12,731 | -77.2% |
| Taxes, remuneration and social security | 45 | €11,337,568 | €13,505,894 | +€2.2m | +19.1% |
| Taxes | 450/3 | €5,129,678 | €5,060,998 | -€68,680 | -1.3% |
| Remuneration and social security | 454/9 | €6,207,890 | €8,444,896 | +€2.2m | +36.0% |
| Other amounts payable | 47/48 | €59,031,388 | €593,611 | -€58.4m | -99.0% |
| Accrued charges and deferred income | 492/3 | €22,969 | €66,291 | +€43,322 | +188.6% |
| Operating income | 70/76A | €262,506,682 | €202,350,496 | -€60.2m | -22.9% |
| Turnover | 70 | €232,435,723 | €175,154,790 | -€57.3m | -24.6% |
| Other operating income | 74 | €28,035,752 | €27,195,707 | -€840,046 | -3.0% |
| Non-recurring operating income | 76A | €2,035,207 | - | -€2.0m | |
| Operating charges | 60/66A | €251,915,658 | €196,597,203 | -€55.3m | -22.0% |
| Goods for resale, raw materials and consumables | 60 | €103,652,201 | €84,844,164 | -€18.8m | -18.1% |
| Purchases | 600/8 | €107,939,115 | €74,734,052 | -€33.2m | -30.8% |
| Change in stocks: decrease (increase) | 609 | -€4,286,914 | €10,110,112 | +€14.4m | |
| Services and other goods | 61 | €26,155,007 | €22,957,746 | -€3.2m | -12.2% |
| Remuneration, social security and pensions | 62 | €41,249,579 | €36,265,920 | -€5.0m | -12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €673,815 | €166,485 | -€507,329 | -75.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€763,077 | €7,829,661 | +€8.6m | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€9,983,173 | -€1,523,390 | +€8.5m | +84.7% |
| Other operating charges | 640/8 | €90,906,095 | €46,056,616 | -€44.8m | -49.3% |
| Non-recurring operating charges | 66A | €25,211 | - | -€25,211 | |
| Operating profit (loss) | 9901 | €10,591,024 | €5,753,294 | -€4.8m | -45.7% |
| Financial income | 75/76B | €58,661 | €202,799 | +€144,138 | +245.7% |
| Recurring financial income | 75 | €58,661 | €202,799 | +€144,138 | +245.7% |
| Income from current assets | 751 | €58,074 | €202,035 | +€143,961 | +247.9% |
| Other financial income | 752/9 | €587 | €764 | +€177 | +30.2% |
| Financial charges | 65/66B | €1,196,047 | €556,574 | -€639,474 | -53.5% |
| Recurring financial charges | 65 | €1,196,047 | €556,574 | -€639,474 | -53.5% |
| Debt charges | 650 | €799,624 | €404,346 | -€395,278 | -49.4% |
| Other financial charges | 652/9 | €396,423 | €152,228 | -€244,195 | -61.6% |
| Profit (loss) for the period before taxes | 9903 | €9,453,638 | €5,399,519 | -€4.1m | -42.9% |
| Transfer from deferred taxes | 780 | €656,767 | - | -€656,767 | |
| Income taxes | 67/77 | €3,636,682 | €1,974,510 | -€1.7m | -45.7% |
| Taxes | 670/3 | €3,636,682 | €1,974,510 | -€1.7m | -45.7% |
| Profit (loss) for the period | 9904 | €6,473,724 | €3,425,010 | -€3.0m | -47.1% |
| Transfer from tax-exempt reserves | 789 | €1,982,566 | - | -€2.0m | |
| Profit (loss) for the period to be appropriated | 9905 | €8,456,290 | €3,425,010 | -€5.0m | -59.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.