Bekaert Bakery: 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.
Bekaert Bakery
Largest movements
- Tangible fixed assets +€11,953
up €11,953 (+4.4%), from €269,340 to €281,293
of which Leasing and similar rights: +€66,424
- Cash -€10,185
down €10,185 (-10.1%), from €100,595 to €90,410
mainly Other debts (-€154,002) and Investment in fixed assets (net) (-€64,905)
- Stocks and contracts +€7,327
up €7,327 (+55.3%), from €13,256 to €20,583
- Other debts -€154,002
down €154,002 (-76.4%), from €201,689 to €47,687
- Reserves +€90,200
up €90,200 (+104%), from €86,678 to €176,878
- Debts after one year +€39,867
up €39,867 (+52.5%), from €75,974 to €115,841
- Current portion of long-term debt +€14,300
up €14,300 (+115%), from €12,465 to €26,765
- Tax, wage and social debts +€10,656
up €10,656 (+61.7%), from €17,272 to €27,928
of which Remuneration and social security: +€9,258
- Gross operating margin +€35,778
up €35,778 (+13.3%), from €268,829 to €304,607
- Staff costs +€20,014
up €20,014 (+19.8%), from €100,913 to €120,927
- Depreciation +€7,395
up €7,395 (+16.3%), from €45,482 to €52,877
- Other operating charges +€3,254
up €3,254 (+297%), from €1,096 to €4,351
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 | €399,485 | €406,702 | +€7,218 | +1.8% |
| Fixed assets | 21/28 | €270,402 | €282,430 | +€12,028 | +4.4% |
| Intangible fixed assets | 21 | €1 | €1 | -€0 | -16.3% |
| Tangible fixed assets | 22/27 | €269,340 | €281,293 | +€11,953 | +4.4% |
| Plant, machinery and equipment | 23 | €250,037 | €212,283 | -€37,754 | -15.1% |
| Furniture and vehicles | 24 | €16,000 | €0 | -€16,000 | -100% |
| Leasing and similar rights | 25 | - | €66,424 | +€66,424 | |
| Other tangible fixed assets | 26 | €3,302 | €2,585 | -€717 | -21.7% |
| Financial fixed assets | 28 | €1,061 | €1,136 | +€75 | +7.1% |
| Current assets | 29/58 | €129,083 | €124,273 | -€4,811 | -3.7% |
| Stocks and contracts in progress | 3 | €13,256 | €20,583 | +€7,327 | +55.3% |
| Stocks | 30/36 | €13,256 | €20,583 | +€7,327 | +55.3% |
| Amounts receivable within one year | 40/41 | €14,929 | €11,592 | -€3,337 | -22.4% |
| Trade receivables | 40 | €8,476 | €3,712 | -€4,764 | -56.2% |
| Other amounts receivable | 41 | €6,453 | €7,880 | +€1,427 | +22.1% |
| Cash at bank and in hand | 54/58 | €100,595 | €90,410 | -€10,185 | -10.1% |
| Deferred charges and accrued income | 490/1 | €303 | €1,688 | +€1,385 | +458% |
| Total equity and liabilities | 10/49 | €399,485 | €406,702 | +€7,218 | +1.8% |
| Equity | 10/15 | €89,178 | €179,378 | +€90,200 | +101% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €86,678 | €176,878 | +€90,200 | +104% |
| Distributable reserves | 133 | €86,678 | €176,878 | +€90,200 | +104% |
| Amounts payable | 17/49 | €310,307 | €227,324 | -€82,982 | -26.7% |
| Amounts payable after more than one year | 17 | €75,974 | €115,841 | +€39,867 | +52.5% |
| Financial debts | 170/4 | €75,974 | €115,841 | +€39,867 | +52.5% |
| Amounts payable within one year | 42/48 | €232,348 | €109,274 | -€123,074 | -53.0% |
| Current portion of amounts payable after more than one year | 42 | €12,465 | €26,765 | +€14,300 | +115% |
| Trade debts | 44 | €922 | €6,894 | +€5,972 | +648% |
| Suppliers | 440/4 | €922 | €6,894 | +€5,972 | +648% |
| Taxes, remuneration and social security | 45 | €17,272 | €27,928 | +€10,656 | +61.7% |
| Taxes | 450/3 | €4,143 | €5,541 | +€1,398 | +33.8% |
| Remuneration and social security | 454/9 | €13,129 | €22,387 | +€9,258 | +70.5% |
| Other amounts payable | 47/48 | €201,689 | €47,687 | -€154,002 | -76.4% |
| Accrued charges and deferred income | 492/3 | €1,985 | €2,210 | +€225 | +11.3% |
| Remuneration, social security and pensions | 62 | €100,913 | €120,927 | +€20,014 | +19.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,482 | €52,877 | +€7,395 | +16.3% |
| Other operating charges | 640/8 | €1,096 | €4,351 | +€3,254 | +297% |
| Gross operating margin | 9900 | €268,829 | €304,607 | +€35,778 | +13.3% |
| Operating profit (loss) | 9901 | €121,339 | €126,453 | +€5,114 | +4.2% |
| Financial income | 75/76B | €274 | €127 | -€147 | -53.7% |
| Recurring financial income | 75 | €274 | €127 | -€147 | -53.7% |
| Financial charges | 65/66B | €1,502 | €2,643 | +€1,141 | +75.9% |
| Recurring financial charges | 65 | €1,502 | €2,643 | +€1,141 | +75.9% |
| Profit (loss) for the period before taxes | 9903 | €120,111 | €123,937 | +€3,826 | +3.2% |
| Income taxes | 67/77 | €33,433 | €33,737 | +€304 | +0.9% |
| Profit (loss) for the period | 9904 | €86,678 | €90,200 | +€3,522 | +4.1% |
| Profit (loss) for the period to be appropriated | 9905 | €86,678 | €90,200 | +€3,522 | +4.1% |
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 16 October 2026 via checked.be.