BAYRAK: 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.
BAYRAK
Largest movements
- Tangible fixed assets -€20,675
down €20,675 (-31.7%), from €65,173 to €44,498
of which Furniture and vehicles: -€10,773
- Receivables within one year -€18,867
down €18,867 (-9.7%), from €193,692 to €174,825
of which Trade receivables: -€20,939
- Deferred charges and accrued income +€13,969
up €13,969 (+819.7%), from €1,704 to €15,673
- Cash -€5,524
down €5,524 (-75.5%), from €7,315 to €1,792
mainly Trade debts (-€30,072) and Deferred charges and accrued income (-€13,969)
- Trade debts -€30,072
down €30,072 (-62.8%), from €47,859 to €17,787
- Profit (loss) carried forward -€7,352
down €7,352 (-18.9%), from €38,991 to €31,639
- Tax, wage and social debts +€3,287
up €3,287 (+8.7%), from €37,795 to €41,082
of which Remuneration and social security: +€10,178
- Staff costs +€49,363
up €49,363 (+55.2%), from €89,395 to €138,757
- Taxes -€39,357
down €39,357 (-99.2%), from €39,693 to €336
- Gross operating margin -€10,757
down €10,757 (-7.0%), from €154,686 to €143,929
- Other operating charges -€7,151
down €7,151 (-46.0%), from €15,535 to €8,385
- Financial income +€5,371
up €5,371 (+60.6%), from €8,856 to €14,227
of which Non-recurring financial income: +€5,254
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 | €291,412 | €259,316 | -€32,097 | -11.0% |
| Fixed assets | 21/28 | €69,201 | €48,526 | -€20,675 | -29.9% |
| Tangible fixed assets | 22/27 | €65,173 | €44,498 | -€20,675 | -31.7% |
| Land and buildings | 22 | €42,968 | €35,760 | -€7,208 | -16.8% |
| Plant, machinery and equipment | 23 | €8,267 | €5,573 | -€2,694 | -32.6% |
| Furniture and vehicles | 24 | €13,938 | €3,165 | -€10,773 | -77.3% |
| Financial fixed assets | 28 | €4,028 | €4,028 | = | 0.0% |
| Current assets | 29/58 | €222,212 | €210,790 | -€11,422 | -5.1% |
| Stocks and contracts in progress | 3 | €19,500 | €18,500 | -€1,000 | -5.1% |
| Stocks | 30/36 | €19,500 | €18,500 | -€1,000 | -5.1% |
| Amounts receivable within one year | 40/41 | €193,692 | €174,825 | -€18,867 | -9.7% |
| Trade receivables | 40 | €32,524 | €11,585 | -€20,939 | -64.4% |
| Other amounts receivable | 41 | €161,168 | €163,240 | +€2,071 | +1.3% |
| Cash at bank and in hand | 54/58 | €7,315 | €1,792 | -€5,524 | -75.5% |
| Deferred charges and accrued income | 490/1 | €1,704 | €15,673 | +€13,969 | +819.7% |
| Total equity and liabilities | 10/49 | €291,412 | €259,316 | -€32,097 | -11.0% |
| Equity | 10/15 | €205,758 | €198,406 | -€7,352 | -3.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €144,164 | €144,164 | = | 0.0% |
| Reserves | 13 | €4,003 | €4,003 | = | 0.0% |
| Non-distributable reserves | 130/1 | €340 | €340 | = | 0.0% |
| Reserves not available under the articles | 1311 | €340 | €340 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,663 | €3,663 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,991 | €31,639 | -€7,352 | -18.9% |
| Amounts payable | 17/49 | €85,654 | €60,910 | -€24,744 | -28.9% |
| Amounts payable within one year | 42/48 | €85,654 | €60,910 | -€24,744 | -28.9% |
| Trade debts | 44 | €47,859 | €17,787 | -€30,072 | -62.8% |
| Suppliers | 440/4 | €47,859 | €17,787 | -€30,072 | -62.8% |
| Advances received on contracts in progress | 46 | - | €214 | +€214 | |
| Taxes, remuneration and social security | 45 | €37,795 | €41,082 | +€3,287 | +8.7% |
| Taxes | 450/3 | €23,355 | €16,464 | -€6,891 | -29.5% |
| Remuneration and social security | 454/9 | €14,440 | €24,618 | +€10,178 | +70.5% |
| Other amounts payable | 47/48 | - | €1,827 | +€1,827 | |
| Remuneration, social security and pensions | 62 | €89,395 | €138,757 | +€49,363 | +55.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,808 | €11,929 | -€3,879 | -24.5% |
| Other operating charges | 640/8 | €15,535 | €8,385 | -€7,151 | -46.0% |
| Gross operating margin | 9900 | €154,686 | €143,929 | -€10,757 | -7.0% |
| Operating profit (loss) | 9901 | €33,949 | -€15,141 | -€49,090 | |
| Financial income | 75/76B | €8,856 | €14,227 | +€5,371 | +60.6% |
| Recurring financial income | 75 | €8,856 | €8,973 | +€117 | +1.3% |
| Non-recurring financial income | 76B | - | €5,254 | +€5,254 | |
| Financial charges | 65/66B | €5,535 | €6,102 | +€567 | +10.2% |
| Recurring financial charges | 65 | €5,535 | €6,102 | +€567 | +10.2% |
| Profit (loss) for the period before taxes | 9903 | €37,271 | -€7,016 | -€44,286 | |
| Income taxes | 67/77 | €39,693 | €336 | -€39,357 | -99.2% |
| Profit (loss) for the period | 9904 | -€2,423 | -€7,352 | -€4,930 | -203.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,423 | -€7,352 | -€4,930 | -203.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.