DE BAERDEMAECKER: 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.
What changed
DE BAERDEMAECKER
NACE 52.241, Warehousing and support activities for transportation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€198,359
2024 · €404,067-€205,707
Equity
€2.1m
2024 · €2.0m+€98,359
Cash
€557,144
2024 · €306,205+€250,939
Balance sheet total
€4.1m
2024 · €3.3m+€785,205
Largest movements
Assets
- Receivables within one year +€523,832
up €523,832 (+46.4%), from €1.1m to €1.7m
of which Trade receivables: +€556,367
- Cash +€250,939
up €250,939 (+82.0%), from €306,205 to €557,144
mainly Trade debts (+€612,900) and Net result for the year (+€198,359)
- Current investments +€50,000
up €50,000 (+2.9%), from €1.7m to €1.8m
Equity and liabilities
- Trade debts +€612,900
up €612,900 (+57.6%), from €1.1m to €1.7m
- Reserves +€98,359
up €98,359 (+5.0%), from €2.0m to €2.1m
of which Distributable reserves: +€98,359
- Accrued charges and deferred income +€52,826
up €52,826, from €0 to €52,826
Income statement
- Turnover -€2.8m
no longer reported in 2025 (was €2.8m)
- Goods and materials -€1.2m
no longer reported in 2025 (was €1.2m)
- Gross operating margin +€773,600
new in 2025: €773,600
- Services and other goods -€563,596
no longer reported in 2025 (was €563,596)
- Taxes -€70,689
down €70,689 (-50.3%), from €140,530 to €69,841
of which Taxes: -€140,561
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.
Result 2024
€404,067
Turnover
-€2.8m
Other operating income
-€59,153
Goods and materials
+€1.2m
Services and other goods
+€563,596
Staff costs
+€51,432
Depreciation
-€2,956
Write-downs
+€14,895
Other operating charges
-€11,003
Other operating items
+€773,600
Financial income
-€29,597
Financial charges
+€147
Taxes
+€70,689
Result 2025
€198,359
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€408,102
Investment
-€50,000
Financing
-€107,163
Cash 2024
€306,205
From operations (derived)
+€408,102
Net result for the year
+€198,359
Depreciation
+€27,026
Receivables within one year
-€523,832
Deferred charges and accrued income
+€12,540
Trade debts
+€612,900
Tax, wage and social debts
-€5,645
Advances received
+€33,927
Accrued charges and deferred income
+€52,826
Investment (derived)
-€50,000
Current investments
-€50,000
Financing
-€107,163
Debts after one year
-€7,456
Current portion of long-term debt
+€294
Contributions, distributions and other
-€100,000
Cash 2025
€557,144
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,295,696 | €4,080,900 | +€785,205 | +23.8% |
| Fixed assets | 21/28 | €105,229 | €78,202 | -€27,026 | -25.7% |
| Tangible fixed assets | 22/27 | €104,733 | €77,707 | -€27,026 | -25.8% |
| Furniture and vehicles | 24 | €79,334 | €59,882 | -€19,452 | -24.5% |
| Leasing and similar rights | 25 | €25,399 | €17,825 | -€7,574 | -29.8% |
| Financial fixed assets | 28 | €496 | €496 | = | 0.0% |
| Other financial fixed assets | 284/8 | €496 | - | -€496 | |
| Amounts receivable and cash guarantees | 285/8 | €496 | - | -€496 | |
| Current assets | 29/58 | €3,190,467 | €4,002,698 | +€812,231 | +25.5% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €1,129,892 | €1,653,724 | +€523,832 | +46.4% |
| Trade receivables | 40 | €1,037,611 | €1,593,977 | +€556,367 | +53.6% |
| Other amounts receivable | 41 | €92,281 | €59,746 | -€32,535 | -35.3% |
| Current investments | 50/53 | €1,738,000 | €1,788,000 | +€50,000 | +2.9% |
| Own shares | 50 | €288,000 | - | -€288,000 | |
| Other investments | 51/53 | €1,450,000 | - | -€1.5m | |
| Cash at bank and in hand | 54/58 | €306,205 | €557,144 | +€250,939 | +82.0% |
| Deferred charges and accrued income | 490/1 | €16,370 | €3,830 | -€12,540 | -76.6% |
| Total equity and liabilities | 10/49 | €3,295,696 | €4,080,900 | +€785,205 | +23.8% |
| Equity | 10/15 | €2,014,258 | €2,112,617 | +€98,359 | +4.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,952,258 | €2,050,617 | +€98,359 | +5.0% |
| Non-distributable reserves | 130/1 | €294,200 | €294,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Own shares acquired | 1312 | €288,000 | €288,000 | = | 0.0% |
| Distributable reserves | 133 | €1,658,058 | €1,756,417 | +€98,359 | +5.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €1,281,438 | €1,968,284 | +€686,845 | +53.6% |
| Amounts payable after more than one year | 17 | €19,391 | €11,934 | -€7,456 | -38.5% |
| Financial debts | 170/4 | €19,391 | €11,934 | -€7,456 | -38.5% |
| Leasing and similar obligations | 172 | €19,391 | - | -€19,391 | |
| Amounts payable within one year | 42/48 | €1,262,047 | €1,903,523 | +€641,476 | +50.8% |
| Current portion of amounts payable after more than one year | 42 | €7,163 | €7,456 | +€294 | +4.1% |
| Trade debts | 44 | €1,064,963 | €1,677,863 | +€612,900 | +57.6% |
| Suppliers | 440/4 | €1,064,963 | €1,677,863 | +€612,900 | +57.6% |
| Advances received on contracts in progress | 46 | €26,145 | €60,072 | +€33,927 | +130% |
| Taxes, remuneration and social security | 45 | €63,777 | €58,132 | -€5,645 | -8.9% |
| Taxes | 450/3 | €2,609 | €618 | -€1,992 | -76.3% |
| Remuneration and social security | 454/9 | €61,168 | €57,514 | -€3,654 | -6.0% |
| Other amounts payable | 47/48 | €100,000 | €100,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €0 | €52,826 | +€52,826 | |
| Operating income | 70/76A | €2,879,334 | - | -€2.9m | |
| Turnover | 70 | €2,820,181 | - | -€2.8m | |
| Other operating income | 74 | €59,153 | - | -€59,153 | |
| Operating charges | 60/66A | €2,382,034 | - | -€2.4m | |
| Goods for resale, raw materials and consumables | 60 | €1,242,825 | - | -€1.2m | |
| Purchases | 600/8 | €1,242,825 | - | -€1.2m | |
| Services and other goods | 61 | €563,596 | - | -€563,596 | |
| Remuneration, social security and pensions | 62 | €543,816 | €492,384 | -€51,432 | -9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,070 | €27,026 | +€2,956 | +12.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€14,895 | -€14,895 | |
| Other operating charges | 640/8 | €7,728 | €18,730 | +€11,003 | +142% |
| Gross operating margin | 9900 | - | €773,600 | +€773,600 | |
| Operating profit (loss) | 9901 | €497,300 | €250,354 | -€246,946 | -49.7% |
| Financial income | 75/76B | €61,201 | €31,604 | -€29,597 | -48.4% |
| Recurring financial income | 75 | €61,201 | €31,604 | -€29,597 | -48.4% |
| Income from current assets | 751 | €60,710 | - | -€60,710 | |
| Other financial income | 752/9 | €491 | - | -€491 | |
| Financial charges | 65/66B | €13,905 | €13,758 | -€147 | -1.1% |
| Recurring financial charges | 65 | €13,905 | €13,758 | -€147 | -1.1% |
| Debt charges | 650 | €1,656 | - | -€1,656 | |
| Other financial charges | 652/9 | €12,249 | - | -€12,249 | |
| Profit (loss) for the period before taxes | 9903 | €544,596 | €268,200 | -€276,396 | -50.8% |
| Income taxes | 67/77 | €140,530 | €69,841 | -€70,689 | -50.3% |
| Taxes | 670/3 | €140,561 | - | -€140,561 | |
| Tax adjustments and reversals of tax provisions | 77 | €31 | - | -€31 | |
| Profit (loss) for the period | 9904 | €404,067 | €198,359 | -€205,707 | -50.9% |
| Profit (loss) for the period to be appropriated | 9905 | €404,067 | €198,359 | -€205,707 | -50.9% |
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 13 October 2026 via checked.be.