CAKE and BREAD: what changed
CAKE and BREAD
Largest movements
- Receivables within one year +€19,834
up €19,834 (+433%), from €4,582 to €24,416
of which Other amounts receivable: +€14,885
- Cash -€9,875
down €9,875 (-97.1%), from €10,166 to €291
mainly Receivables within one year (-€19,834) and Tax, wage and social debts (-€3,419)
- Tangible fixed assets -€5,157
down €5,157 (-16.5%), from €31,307 to €26,150
- Stocks and contracts +€2,620
up €2,620 (+61.0%), from €4,297 to €6,917
- Trade debts +€13,312
up €13,312 (+121%), from €11,019 to €24,332
- Tax, wage and social debts -€3,419
down €3,419 (-25.5%), from €13,423 to €10,004
of which Remuneration and social security: -€2,131
- Profit (loss) carried forward -€2,471
down €2,471 (-22.6%), from €10,910 to €8,439
- Gross operating margin -€1,604
down €1,604 (-2.2%), from €73,467 to €71,862
- Staff costs +€1,440
up €1,440 (+2.3%), from €62,033 to €63,474
- Depreciation +€1,174
up €1,174 (+22.3%), from €5,265 to €6,439
- Other operating charges +€1,067
up €1,067 (+35.5%), from €3,010 to €4,077
- Taxes -€840
no longer reported in 2025 (was €840)
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €50,352 | €57,774 | +€7,422 | +14.7% |
| Fixed assets | 21/28 | €31,307 | €26,150 | -€5,157 | -16.5% |
| Tangible fixed assets | 22/27 | €31,307 | €26,150 | -€5,157 | -16.5% |
| Land and buildings | 22 | €4,500 | €4,000 | -€500 | -11.1% |
| Plant, machinery and equipment | 23 | €13,398 | €11,629 | -€1,768 | -13.2% |
| Furniture and vehicles | 24 | €4,309 | €2,721 | -€1,589 | -36.9% |
| Other tangible fixed assets | 26 | €9,100 | €7,800 | -€1,300 | -14.3% |
| Current assets | 29/58 | €19,045 | €31,624 | +€12,579 | +66.0% |
| Stocks and contracts in progress | 3 | €4,297 | €6,917 | +€2,620 | +61.0% |
| Stocks | 30/36 | €4,297 | €6,917 | +€2,620 | +61.0% |
| Amounts receivable within one year | 40/41 | €4,582 | €24,416 | +€19,834 | +433% |
| Trade receivables | 40 | €0 | €4,949 | +€4,949 | |
| Other amounts receivable | 41 | €4,582 | €19,467 | +€14,885 | +325% |
| Cash at bank and in hand | 54/58 | €10,166 | €291 | -€9,875 | -97.1% |
| Total equity and liabilities | 10/49 | €50,352 | €57,774 | +€7,422 | +14.7% |
| Equity | 10/15 | €25,910 | €23,439 | -€2,471 | -9.5% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,910 | €8,439 | -€2,471 | -22.6% |
| Amounts payable | 17/49 | €24,442 | €34,336 | +€9,893 | +40.5% |
| Amounts payable within one year | 42/48 | €24,442 | €34,336 | +€9,893 | +40.5% |
| Trade debts | 44 | €11,019 | €24,332 | +€13,312 | +121% |
| Suppliers | 440/4 | €11,019 | €24,332 | +€13,312 | +121% |
| Taxes, remuneration and social security | 45 | €13,423 | €10,004 | -€3,419 | -25.5% |
| Taxes | 450/3 | €11,083 | €9,795 | -€1,288 | -11.6% |
| Remuneration and social security | 454/9 | €2,340 | €209 | -€2,131 | -91.1% |
| Remuneration, social security and pensions | 62 | €62,033 | €63,474 | +€1,440 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,265 | €6,439 | +€1,174 | +22.3% |
| Other operating charges | 640/8 | €3,010 | €4,077 | +€1,067 | +35.5% |
| Gross operating margin | 9900 | €73,467 | €71,862 | -€1,604 | -2.2% |
| Operating profit (loss) | 9901 | €3,159 | -€2,128 | -€5,287 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €273 | €343 | +€70 | +25.7% |
| Recurring financial charges | 65 | €273 | €343 | +€70 | +25.7% |
| Profit (loss) for the period before taxes | 9903 | €2,886 | -€2,471 | -€5,357 | |
| Income taxes | 67/77 | €840 | - | -€840 | |
| Profit (loss) for the period | 9904 | €2,046 | -€2,471 | -€4,517 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,046 | -€2,471 | -€4,517 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.