BAYRO: 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.
BAYRO
Largest movements
- Tangible fixed assets +€785,525
up €785,525 (+89.4%), from €878,378 to €1.7m
of which Leasing and similar rights: +€736,178
- Stocks and contracts +€477,350
up €477,350 (+36.6%), from €1.3m to €1.8m
- Financial fixed assets +€457,475
up €457,475 (+30.4%), from €1.5m to €2.0m
- Receivables within one year +€268,441
up €268,441 (+20.0%), from €1.3m to €1.6m
of which Trade receivables: +€190,818
- Cash +€153,347
up €153,347 (+99.0%), from €154,903 to €308,251
mainly Other debts (+€1.1m) and Net result for the year (+€779,189)
- Other debts +€1.1m
up €1.1m, from €0 to €1.1m
- Reserves +€779,189
up €779,189 (+27.6%), from €2.8m to €3.6m
of which Distributable reserves: +€779,189
- Trade debts -€573,176
down €573,176 (-43.3%), from €1.3m to €749,708
- Debts after one year +€555,423
up €555,423 (+182.6%), from €304,119 to €859,542
of which Financial debts: +€555,423
- Current portion of long-term debt +€139,402
up €139,402 (+51.4%), from €271,134 to €410,536
- Gross operating margin +€1.3m
up €1.3m (+34.1%), from €3.8m to €5.0m
- Staff costs +€1.1m
up €1.1m (+43.9%), from €2.4m to €3.5m
- Depreciation +€85,561
up €85,561 (+28.1%), from €304,256 to €389,817
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 | €5,217,489 | €7,370,078 | +€2.2m | +41.3% |
| Fixed assets | 21/28 | €2,384,667 | €3,627,668 | +€1.2m | +52.1% |
| Tangible fixed assets | 22/27 | €878,378 | €1,663,903 | +€785,525 | +89.4% |
| Land and buildings | 22 | €129,638 | €129,638 | = | 0.0% |
| Plant, machinery and equipment | 23 | €12,270 | €38,987 | +€26,716 | +217.7% |
| Furniture and vehicles | 24 | €142,971 | €168,082 | +€25,111 | +17.6% |
| Leasing and similar rights | 25 | €590,275 | €1,326,454 | +€736,178 | +124.7% |
| Other tangible fixed assets | 26 | €3,223 | €742 | -€2,481 | -77.0% |
| Financial fixed assets | 28 | €1,506,290 | €1,963,765 | +€457,475 | +30.4% |
| Current assets | 29/58 | €2,832,822 | €3,742,410 | +€909,589 | +32.1% |
| Stocks and contracts in progress | 3 | €1,302,650 | €1,780,000 | +€477,350 | +36.6% |
| Contracts in progress | 37 | €1,302,650 | €1,780,000 | +€477,350 | +36.6% |
| Amounts receivable within one year | 40/41 | €1,344,506 | €1,612,947 | +€268,441 | +20.0% |
| Trade receivables | 40 | €1,021,579 | €1,212,396 | +€190,818 | +18.7% |
| Other amounts receivable | 41 | €322,927 | €400,551 | +€77,623 | +24.0% |
| Current investments | 50/53 | €5,813 | €5,837 | +€24 | +0.4% |
| Cash at bank and in hand | 54/58 | €154,903 | €308,251 | +€153,347 | +99.0% |
| Deferred charges and accrued income | 490/1 | €24,950 | €35,375 | +€10,426 | +41.8% |
| Total equity and liabilities | 10/49 | €5,217,489 | €7,370,078 | +€2.2m | +41.3% |
| Equity | 10/15 | €2,840,517 | €3,619,707 | +€779,189 | +27.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,821,917 | €3,601,107 | +€779,189 | +27.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €2,821,917 | €3,601,107 | +€779,189 | +27.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €192,891 | €216,543 | +€23,652 | +12.3% |
| Provisions for liabilities and charges | 160/5 | €192,891 | €216,543 | +€23,652 | +12.3% |
| Other liabilities and charges | 164/5 | €192,891 | €216,543 | +€23,652 | +12.3% |
| Amounts payable | 17/49 | €2,184,081 | €3,533,828 | +€1.3m | +61.8% |
| Amounts payable after more than one year | 17 | €304,119 | €859,542 | +€555,423 | +182.6% |
| Financial debts | 170/4 | €254,119 | €809,542 | +€555,423 | +218.6% |
| Other amounts payable | 178/9 | €50,000 | €50,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,879,962 | €2,674,286 | +€794,324 | +42.3% |
| Current portion of amounts payable after more than one year | 42 | €271,134 | €410,536 | +€139,402 | +51.4% |
| Financial debts | 43 | €80,217 | €86,154 | +€5,937 | +7.4% |
| Credit institutions | 430/8 | - | €6,173 | +€6,173 | |
| Other loans | 439 | €80,217 | €79,981 | -€236 | -0.3% |
| Trade debts | 44 | €1,322,884 | €749,708 | -€573,176 | -43.3% |
| Suppliers | 440/4 | €1,322,884 | €749,708 | -€573,176 | -43.3% |
| Taxes, remuneration and social security | 45 | €205,728 | €307,831 | +€102,103 | +49.6% |
| Taxes | 450/3 | €24,261 | €42,819 | +€18,558 | +76.5% |
| Remuneration and social security | 454/9 | €181,467 | €265,012 | +€83,545 | +46.0% |
| Other amounts payable | 47/48 | €0 | €1,120,058 | +€1.1m | |
| Non-recurring operating income | 76A | - | €5,000 | +€5,000 | |
| Remuneration, social security and pensions | 62 | €2,421,069 | €3,484,033 | +€1.1m | +43.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €304,256 | €389,817 | +€85,561 | +28.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€2,102 | €23,652 | +€25,754 | |
| Other operating charges | 640/8 | €28,530 | €27,898 | -€632 | -2.2% |
| Gross operating margin | 9900 | €3,762,316 | €5,045,566 | +€1.3m | +34.1% |
| Operating profit (loss) | 9901 | €1,010,563 | €1,120,166 | +€109,602 | +10.8% |
| Financial income | 75/76B | €36,705 | €2,762 | -€33,943 | -92.5% |
| Recurring financial income | 75 | €36,705 | €2,762 | -€33,943 | -92.5% |
| Financial charges | 65/66B | €21,532 | €33,374 | +€11,843 | +55.0% |
| Recurring financial charges | 65 | €21,532 | €33,374 | +€11,843 | +55.0% |
| Profit (loss) for the period before taxes | 9903 | €1,025,737 | €1,089,553 | +€63,817 | +6.2% |
| Income taxes | 67/77 | €269,540 | €310,364 | +€40,824 | +15.1% |
| Profit (loss) for the period | 9904 | €756,196 | €779,189 | +€22,993 | +3.0% |
| Profit (loss) for the period to be appropriated | 9905 | €756,196 | €779,189 | +€22,993 | +3.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.