BJORN BAERTS: 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.
BJORN BAERTS
Largest movements
- Receivables within one year +€73,163
up €73,163 (+2,159%), from €3,389 to €76,551
of which Other amounts receivable: +€68,861
- Cash +€64,128
up €64,128 (+221%), from €29,019 to €93,147
mainly Net result for the year (+€103,548) and Depreciation (+€10,569)
- Tangible fixed assets -€17,569
down €17,569 (-48.1%), from €36,528 to €18,959
of which Furniture and vehicles: -€9,333
- Deferred charges and accrued income -€2,909
down €2,909 (-82.4%), from €3,532 to €623
- Reserves +€103,548
up €103,548 (+186%), from €55,548 to €159,096
- Tax, wage and social debts +€8,720
up €8,720 (+60.4%), from €14,439 to €23,159
- Trade debts +€4,544
up €4,544 (+946%), from €480 to €5,025
- Gross operating margin +€46,345
up €46,345 (+49.0%), from €94,559 to €140,904
- Taxes +€14,281
up €14,281 (+98.9%), from €14,439 to €28,720
- Depreciation +€5,920
up €5,920 (+127%), from €4,649 to €10,569
- Financial income +€2,453
up €2,453 (+10,664%), from €23 to €2,476
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 | €72,467 | €189,280 | +€116,813 | +161% |
| Fixed assets | 21/28 | €36,528 | €18,959 | -€17,569 | -48.1% |
| Tangible fixed assets | 22/27 | €36,528 | €18,959 | -€17,569 | -48.1% |
| Plant, machinery and equipment | 23 | €12,787 | €4,551 | -€8,235 | -64.4% |
| Furniture and vehicles | 24 | €23,741 | €14,408 | -€9,333 | -39.3% |
| Current assets | 29/58 | €35,939 | €170,321 | +€134,382 | +374% |
| Amounts receivable within one year | 40/41 | €3,389 | €76,551 | +€73,163 | +2,159% |
| Trade receivables | 40 | - | €4,302 | +€4,302 | |
| Other amounts receivable | 41 | €3,389 | €72,249 | +€68,861 | +2,032% |
| Cash at bank and in hand | 54/58 | €29,019 | €93,147 | +€64,128 | +221% |
| Deferred charges and accrued income | 490/1 | €3,532 | €623 | -€2,909 | -82.4% |
| Total equity and liabilities | 10/49 | €72,467 | €189,280 | +€116,813 | +161% |
| Equity | 10/15 | €57,548 | €161,096 | +€103,548 | +180% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Contributions outside capital | 11 | €2,000 | €2,000 | = | 0.0% |
| Other | 1109/19 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €55,548 | €159,096 | +€103,548 | +186% |
| Distributable reserves | 133 | €55,548 | €159,096 | +€103,548 | +186% |
| Amounts payable | 17/49 | €14,919 | €28,184 | +€13,265 | +88.9% |
| Amounts payable within one year | 42/48 | €14,919 | €28,184 | +€13,265 | +88.9% |
| Trade debts | 44 | €480 | €5,025 | +€4,544 | +946% |
| Suppliers | 440/4 | €480 | €5,025 | +€4,544 | +946% |
| Taxes, remuneration and social security | 45 | €14,439 | €23,159 | +€8,720 | +60.4% |
| Taxes | 450/3 | €14,439 | €23,159 | +€8,720 | +60.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,649 | €10,569 | +€5,920 | +127% |
| Other operating charges | 640/8 | €925 | €463 | -€461 | -49.9% |
| Gross operating margin | 9900 | €94,559 | €140,904 | +€46,345 | +49.0% |
| Operating profit (loss) | 9901 | €88,985 | €129,872 | +€40,887 | +45.9% |
| Financial income | 75/76B | €23 | €2,476 | +€2,453 | +10,664% |
| Recurring financial income | 75 | €23 | €2,476 | +€2,453 | +10,664% |
| Financial charges | 65/66B | €121 | €80 | -€41 | -34.0% |
| Recurring financial charges | 65 | €121 | €80 | -€41 | -34.0% |
| Profit (loss) for the period before taxes | 9903 | €88,887 | €132,268 | +€43,381 | +48.8% |
| Income taxes | 67/77 | €14,439 | €28,720 | +€14,281 | +98.9% |
| Profit (loss) for the period | 9904 | €74,448 | €103,548 | +€29,100 | +39.1% |
| Profit (loss) for the period to be appropriated | 9905 | €74,448 | €103,548 | +€29,100 | +39.1% |
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 29 October 2026 via checked.be.