BAZOUF: 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.
BAZOUF
Largest movements
- Cash +€12,774
up €12,774 (+63.6%), from €20,097 to €32,871
mainly Net result for the year (+€29,687) and Current investments (+€12,021)
- Receivables within one year +€12,330
up €12,330 (+821.3%), from €1,501 to €13,831
of which Trade receivables: +€11,307
- Current investments -€12,021
down €12,021 (-14.8%), from €81,375 to €69,355
- Stocks and contracts +€10,437
up €10,437 (+26.4%), from €39,498 to €49,934
- Profit (loss) carried forward +€29,687
up €29,687 (+24.0%), from -€123,858 to -€94,171
- Debts after one year -€24,620
down €24,620 (-47.9%), from €51,398 to €26,777
of which Other amounts payable: -€16,800
- Trade debts +€8,566
up €8,566 (+165.7%), from €5,168 to €13,734
- Tax, wage and social debts +€8,334
up €8,334 (+107.7%), from €7,738 to €16,072
of which Taxes: +€4,359
- Gross operating margin +€40,212
up €40,212 (+496.1%), from €8,105 to €48,317
- Staff costs +€14,245
up €14,245, from €0 to €14,245
- Financial charges -€6,092
down €6,092 (-64.4%), from €9,457 to €3,365
- Financial income -€3,225
down €3,225 (-45.6%), from €7,067 to €3,842
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 | €351,584 | €373,891 | +€22,307 | +6.3% |
| Fixed assets | 21/28 | €207,823 | €205,949 | -€1,875 | -0.9% |
| Tangible fixed assets | 22/27 | €204,523 | €202,649 | -€1,875 | -0.9% |
| Land and buildings | 22 | €187,785 | €187,785 | = | 0.0% |
| Plant, machinery and equipment | 23 | €1,030 | €751 | -€279 | -27.1% |
| Furniture and vehicles | 24 | €4,691 | €4,124 | -€567 | -12.1% |
| Other tangible fixed assets | 26 | €11,018 | €9,989 | -€1,029 | -9.3% |
| Financial fixed assets | 28 | €3,300 | €3,300 | = | 0.0% |
| Current assets | 29/58 | €143,761 | €167,942 | +€24,182 | +16.8% |
| Stocks and contracts in progress | 3 | €39,498 | €49,934 | +€10,437 | +26.4% |
| Stocks | 30/36 | €39,498 | €49,934 | +€10,437 | +26.4% |
| Amounts receivable within one year | 40/41 | €1,501 | €13,831 | +€12,330 | +821.3% |
| Trade receivables | 40 | €1,267 | €12,574 | +€11,307 | +892.2% |
| Other amounts receivable | 41 | €234 | €1,257 | +€1,023 | +437.3% |
| Current investments | 50/53 | €81,375 | €69,355 | -€12,021 | -14.8% |
| Cash at bank and in hand | 54/58 | €20,097 | €32,871 | +€12,774 | +63.6% |
| Deferred charges and accrued income | 490/1 | €1,290 | €1,952 | +€662 | +51.4% |
| Total equity and liabilities | 10/49 | €351,584 | €373,891 | +€22,307 | +6.3% |
| Equity | 10/15 | €279,800 | €309,487 | +€29,687 | +10.6% |
| Contributions | 10/11 | €401,100 | €401,100 | = | 0.0% |
| Reserves | 13 | €2,558 | €2,558 | = | 0.0% |
| Tax-exempt reserves | 132 | €698 | €698 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€123,858 | -€94,171 | +€29,687 | +24.0% |
| Amounts payable | 17/49 | €71,784 | €64,404 | -€7,380 | -10.3% |
| Amounts payable after more than one year | 17 | €51,398 | €26,777 | -€24,620 | -47.9% |
| Financial debts | 170/4 | €15,949 | €8,128 | -€7,820 | -49.0% |
| Other amounts payable | 178/9 | €35,449 | €18,649 | -€16,800 | -47.4% |
| Amounts payable within one year | 42/48 | €20,386 | €37,627 | +€17,240 | +84.6% |
| Current portion of amounts payable after more than one year | 42 | €7,480 | €7,820 | +€340 | +4.5% |
| Trade debts | 44 | €5,168 | €13,734 | +€8,566 | +165.7% |
| Suppliers | 440/4 | €5,168 | €13,734 | +€8,566 | +165.7% |
| Taxes, remuneration and social security | 45 | €7,738 | €16,072 | +€8,334 | +107.7% |
| Taxes | 450/3 | €7,738 | €12,097 | +€4,359 | +56.3% |
| Remuneration and social security | 454/9 | - | €3,975 | +€3,975 | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €0 | €14,245 | +€14,245 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,680 | €2,865 | +€185 | +6.9% |
| Other operating charges | 640/8 | €1,763 | €1,699 | -€64 | -3.6% |
| Gross operating margin | 9900 | €8,105 | €48,317 | +€40,212 | +496.1% |
| Operating profit (loss) | 9901 | €3,662 | €29,507 | +€25,845 | +705.8% |
| Financial income | 75/76B | €7,067 | €3,842 | -€3,225 | -45.6% |
| Recurring financial income | 75 | €7,067 | €3,842 | -€3,225 | -45.6% |
| Financial charges | 65/66B | €9,457 | €3,365 | -€6,092 | -64.4% |
| Recurring financial charges | 65 | €9,457 | €3,365 | -€6,092 | -64.4% |
| Profit (loss) for the period before taxes | 9903 | €1,272 | €29,983 | +€28,711 | +2258.1% |
| Income taxes | 67/77 | €309 | €296 | -€12 | -4.0% |
| Profit (loss) for the period | 9904 | €963 | €29,687 | +€28,724 | +2982.8% |
| Profit (loss) for the period to be appropriated | 9905 | €963 | €29,687 | +€28,724 | +2982.8% |
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 3 October 2026 via checked.be.