BERT BAEKELANDT: 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.
BERT BAEKELANDT
Largest movements
- Tangible fixed assets -€18,176
down €18,176 (-25.9%), from €70,072 to €51,896
- Cash +€13,083
up €13,083 (+31.5%), from €41,546 to €54,629
mainly Other debts (+€29,694) and Depreciation (+€18,176)
- Receivables within one year +€12,257
up €12,257 (+1,164%), from €1,053 to €13,310
- Deferred charges and accrued income -€9,788
down €9,788 (-81.8%), from €11,959 to €2,172
- Other debts +€29,694
up €29,694 (+118%), from €25,168 to €54,862
- Reserves -€22,702
down €22,702 (-60.6%), from €37,482 to €14,780
of which Distributable reserves: -€20,847
- Debts after one year -€10,400
down €10,400 (-36.3%), from €28,686 to €18,285
- Tax, wage and social debts +€2,654
up €2,654 (+54.5%), from €4,866 to €7,519
- Trade debts -€2,276
down €2,276 (-37.7%), from €6,037 to €3,760
- Gross operating margin -€4,375
down €4,375 (-9.0%), from €48,822 to €44,447
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 | €124,631 | €122,007 | -€2,624 | -2.1% |
| Fixed assets | 21/28 | €70,072 | €51,896 | -€18,176 | -25.9% |
| Tangible fixed assets | 22/27 | €70,072 | €51,896 | -€18,176 | -25.9% |
| Furniture and vehicles | 24 | €70,072 | €51,896 | -€18,176 | -25.9% |
| Current assets | 29/58 | €54,559 | €70,111 | +€15,552 | +28.5% |
| Amounts receivable within one year | 40/41 | €1,053 | €13,310 | +€12,257 | +1,164% |
| Trade receivables | 40 | €1,053 | €13,310 | +€12,257 | +1,164% |
| Cash at bank and in hand | 54/58 | €41,546 | €54,629 | +€13,083 | +31.5% |
| Deferred charges and accrued income | 490/1 | €11,959 | €2,172 | -€9,788 | -81.8% |
| Total equity and liabilities | 10/49 | €124,631 | €122,007 | -€2,624 | -2.1% |
| Equity | 10/15 | €49,882 | €27,180 | -€22,702 | -45.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €37,482 | €14,780 | -€22,702 | -60.6% |
| Non-distributable reserves | 130/1 | €1,855 | - | -€1,855 | |
| Reserves not available under the articles | 1311 | €1,855 | - | -€1,855 | |
| Distributable reserves | 133 | €35,627 | €14,780 | -€20,847 | -58.5% |
| Amounts payable | 17/49 | €74,749 | €94,827 | +€20,078 | +26.9% |
| Amounts payable after more than one year | 17 | €28,686 | €18,285 | -€10,400 | -36.3% |
| Financial debts | 170/4 | €28,686 | €18,285 | -€10,400 | -36.3% |
| Amounts payable within one year | 42/48 | €46,063 | €76,542 | +€30,479 | +66.2% |
| Current portion of amounts payable after more than one year | 42 | €9,993 | €10,400 | +€408 | +4.1% |
| Trade debts | 44 | €6,037 | €3,760 | -€2,276 | -37.7% |
| Suppliers | 440/4 | €6,037 | €3,760 | -€2,276 | -37.7% |
| Taxes, remuneration and social security | 45 | €4,866 | €7,519 | +€2,654 | +54.5% |
| Taxes | 450/3 | €4,866 | €7,519 | +€2,654 | +54.5% |
| Other amounts payable | 47/48 | €25,168 | €54,862 | +€29,694 | +118% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,479 | €18,176 | -€303 | -1.6% |
| Other operating charges | 640/8 | €1,079 | €830 | -€249 | -23.1% |
| Gross operating margin | 9900 | €48,822 | €44,447 | -€4,375 | -9.0% |
| Operating profit (loss) | 9901 | €29,264 | €25,441 | -€3,824 | -13.1% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €2,057 | €1,711 | -€346 | -16.8% |
| Recurring financial charges | 65 | €2,057 | €1,711 | -€346 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | €27,207 | €23,730 | -€3,477 | -12.8% |
| Income taxes | 67/77 | €6,432 | €6,118 | -€315 | -4.9% |
| Profit (loss) for the period | 9904 | €20,775 | €17,612 | -€3,163 | -15.2% |
| Profit (loss) for the period to be appropriated | 9905 | €20,775 | €17,612 | -€3,163 | -15.2% |
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 18 October 2026 via checked.be.