Bazoeka: 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.
Bazoeka
Largest movements
- Tangible fixed assets +€164,386
up €164,386 (+224%), from €73,528 to €237,913
of which Land and buildings: +€185,011
- Cash -€35,146
down €35,146 (-44.0%), from €79,867 to €44,722
mainly Investment in fixed assets (net) (-€185,417) and Tax, wage and social debts (-€2,472)
- Debts after one year +€81,848
up €81,848 (+146%), from €56,224 to €138,072
of which Financial debts: +€81,848
- Other debts +€42,217
up €42,217 (+115%), from €36,642 to €78,858
- Current portion of long-term debt +€6,920
new in 2025: €6,920
- Gross operating margin -€4,272
down €4,272 (-5.6%), from €76,574 to €72,302
- Depreciation -€2,969
down €2,969 (-12.4%), from €24,001 to €21,032
- Staff costs -€2,868
down €2,868 (-5.6%), from €50,881 to €48,013
- Other operating charges -€915
down €915 (-51.0%), from €1,792 to €877
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 | €166,877 | €296,087 | +€129,210 | +77.4% |
| Fixed assets | 21/28 | €73,528 | €237,913 | +€164,386 | +224% |
| Tangible fixed assets | 22/27 | €73,528 | €237,913 | +€164,386 | +224% |
| Land and buildings | 22 | - | €185,011 | +€185,011 | |
| Plant, machinery and equipment | 23 | €41,217 | €27,979 | -€13,239 | -32.1% |
| Furniture and vehicles | 24 | €20,756 | €14,972 | -€5,784 | -27.9% |
| Other tangible fixed assets | 26 | €11,554 | €9,952 | -€1,602 | -13.9% |
| Current assets | 29/58 | €93,350 | €58,174 | -€35,176 | -37.7% |
| Amounts receivable after more than one year | 29 | €9,000 | €9,000 | = | 0.0% |
| Other amounts receivable | 291 | €9,000 | €9,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | - | €450 | +€450 | |
| Stocks | 30/36 | - | €450 | +€450 | |
| Amounts receivable within one year | 40/41 | €2,449 | €2,218 | -€232 | -9.5% |
| Trade receivables | 40 | €955 | €2,143 | +€1,188 | +124% |
| Other amounts receivable | 41 | €1,494 | €75 | -€1,419 | -95.0% |
| Cash at bank and in hand | 54/58 | €79,867 | €44,722 | -€35,146 | -44.0% |
| Deferred charges and accrued income | 490/1 | €2,033 | €1,785 | -€248 | -12.2% |
| Total equity and liabilities | 10/49 | €166,877 | €296,087 | +€129,210 | +77.4% |
| Equity | 10/15 | €53,456 | €54,780 | +€1,325 | +2.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,856 | €36,180 | +€1,325 | +3.8% |
| Amounts payable | 17/49 | €113,422 | €241,307 | +€127,885 | +113% |
| Amounts payable after more than one year | 17 | €56,224 | €138,072 | +€81,848 | +146% |
| Financial debts | 170/4 | - | €81,848 | +€81,848 | |
| Other amounts payable | 178/9 | €56,224 | €56,224 | = | 0.0% |
| Amounts payable within one year | 42/48 | €57,114 | €103,139 | +€46,024 | +80.6% |
| Current portion of amounts payable after more than one year | 42 | - | €6,920 | +€6,920 | |
| Trade debts | 44 | €9,060 | €8,419 | -€641 | -7.1% |
| Suppliers | 440/4 | €9,060 | €8,419 | -€641 | -7.1% |
| Taxes, remuneration and social security | 45 | €11,413 | €8,941 | -€2,472 | -21.7% |
| Taxes | 450/3 | €9,551 | €7,470 | -€2,081 | -21.8% |
| Remuneration and social security | 454/9 | €1,862 | €1,471 | -€390 | -21.0% |
| Other amounts payable | 47/48 | €36,642 | €78,858 | +€42,217 | +115% |
| Accrued charges and deferred income | 492/3 | €83 | €96 | +€13 | +15.2% |
| Remuneration, social security and pensions | 62 | €50,881 | €48,013 | -€2,868 | -5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,001 | €21,032 | -€2,969 | -12.4% |
| Other operating charges | 640/8 | €1,792 | €877 | -€915 | -51.0% |
| Gross operating margin | 9900 | €76,574 | €72,302 | -€4,272 | -5.6% |
| Operating profit (loss) | 9901 | -€100 | €2,379 | +€2,480 | |
| Financial income | 75/76B | €585 | €950 | +€364 | +62.3% |
| Recurring financial income | 75 | €585 | €950 | +€364 | +62.3% |
| Financial charges | 65/66B | €410 | €942 | +€532 | +130% |
| Recurring financial charges | 65 | €410 | €942 | +€532 | +130% |
| Profit (loss) for the period before taxes | 9903 | €75 | €2,387 | +€2,312 | +3,079% |
| Income taxes | 67/77 | €675 | €1,062 | +€387 | +57.4% |
| Profit (loss) for the period | 9904 | -€600 | €1,325 | +€1,924 | |
| Profit (loss) for the period to be appropriated | 9905 | -€600 | €1,325 | +€1,924 |
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 15 October 2026 via checked.be.