DE BAERE Geert: what changed
What changed
DE BAERE Geert
NACE 43.120, Site preparation
filed annual accounts (NBB)
Net result for the year
€338
2025 · €12,271-€11,933
Equity
€241,545
2025 · €241,207+€338
Cash
€46,633
2025 · €22,847+€23,786
Balance sheet total
€589,424
2025 · €639,502-€50,078
Largest movements
Assets
- Tangible fixed assets -€38,127
down €38,127 (-11.9%), from €320,173 to €282,046
of which Furniture and vehicles: -€46,481
- Receivables within one year -€35,353
down €35,353 (-12.5%), from €283,111 to €247,758
of which Trade receivables: -€59,214
- Cash +€23,786
up €23,786 (+104%), from €22,847 to €46,633
mainly Depreciation (+€103,182) and Receivables within one year (+€35,353)
Equity and liabilities
- Debts after one year -€43,463
down €43,463 (-22.7%), from €191,825 to €148,362
- Trade debts -€7,736
down €7,736 (-29.7%), from €26,034 to €18,298
Income statement
- Depreciation +€12,834
up €12,834 (+14.2%), from €90,348 to €103,182
- Gross operating margin -€6,065
down €6,065 (-4.5%), from €134,010 to €127,945
- Taxes -€4,650
down €4,650 (-91.8%), from €5,068 to €418
- Other operating charges -€2,388
down €2,388 (-27.6%), from €8,642 to €6,254
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
€12,271
Gross operating margin
-€6,065
Depreciation
-€12,834
Other operating charges
+€2,388
Financial income
-€1,171
Financial charges
+€1,099
Taxes
+€4,650
Result 2026
€338
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€132,043
Investment
-€65,236
Financing
-€43,021
Cash 2025
€22,847
From operations (derived)
+€132,043
Net result for the year
+€338
Depreciation
+€103,182
Stocks and contracts
+€925
Receivables within one year
+€35,353
Deferred charges and accrued income
-€360
Trade debts
-€7,736
Tax, wage and social debts
+€1,191
Accrued charges and deferred income
-€850
Investment (derived)
-€65,236
Investment in fixed assets (net)
-€65,236
Financing
-€43,021
Debts after one year
-€43,463
Current portion of long-term debt
+€5,442
Short-term financial debts
-€5,000
Cash 2026
€46,633
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €639,502 | €589,424 | -€50,078 | -7.8% |
| Fixed assets | 21/28 | €320,613 | €282,667 | -€37,946 | -11.8% |
| Intangible fixed assets | 21 | €170 | - | -€170 | |
| Tangible fixed assets | 22/27 | €320,173 | €282,046 | -€38,127 | -11.9% |
| Plant, machinery and equipment | 23 | €76,643 | €75,572 | -€1,071 | -1.4% |
| Furniture and vehicles | 24 | €234,277 | €187,796 | -€46,481 | -19.8% |
| Other tangible fixed assets | 26 | €9,253 | €18,678 | +€9,425 | +102% |
| Financial fixed assets | 28 | €270 | €621 | +€351 | +130% |
| Current assets | 29/58 | €318,889 | €306,757 | -€12,132 | -3.8% |
| Stocks and contracts in progress | 3 | €11,718 | €10,793 | -€925 | -7.9% |
| Stocks | 30/36 | €11,718 | €10,793 | -€925 | -7.9% |
| Amounts receivable within one year | 40/41 | €283,111 | €247,758 | -€35,353 | -12.5% |
| Trade receivables | 40 | €221,454 | €162,240 | -€59,214 | -26.7% |
| Other amounts receivable | 41 | €61,657 | €85,518 | +€23,861 | +38.7% |
| Cash at bank and in hand | 54/58 | €22,847 | €46,633 | +€23,786 | +104% |
| Deferred charges and accrued income | 490/1 | €1,213 | €1,573 | +€360 | +29.7% |
| Total equity and liabilities | 10/49 | €639,502 | €589,424 | -€50,078 | -7.8% |
| Equity | 10/15 | €241,207 | €241,545 | +€338 | +0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €222,607 | €222,945 | +€338 | +0.2% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Legal reserve | 130 | €15,000 | €15,000 | = | 0.0% |
| Distributable reserves | 133 | €207,607 | €207,945 | +€338 | +0.2% |
| Amounts payable | 17/49 | €398,295 | €347,879 | -€50,416 | -12.7% |
| Amounts payable after more than one year | 17 | €191,825 | €148,362 | -€43,463 | -22.7% |
| Financial debts | 170/4 | €191,825 | €148,362 | -€43,463 | -22.7% |
| Amounts payable within one year | 42/48 | €205,620 | €199,517 | -€6,103 | -3.0% |
| Current portion of amounts payable after more than one year | 42 | €66,124 | €71,566 | +€5,442 | +8.2% |
| Financial debts | 43 | €110,235 | €105,235 | -€5,000 | -4.5% |
| Credit institutions | 430/8 | €110,235 | €105,235 | -€5,000 | -4.5% |
| Trade debts | 44 | €26,034 | €18,298 | -€7,736 | -29.7% |
| Suppliers | 440/4 | €26,034 | €18,298 | -€7,736 | -29.7% |
| Taxes, remuneration and social security | 45 | €3,227 | €4,418 | +€1,191 | +36.9% |
| Taxes | 450/3 | €3,227 | €4,418 | +€1,191 | +36.9% |
| Accrued charges and deferred income | 492/3 | €850 | - | -€850 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,348 | €103,182 | +€12,834 | +14.2% |
| Other operating charges | 640/8 | €8,642 | €6,254 | -€2,388 | -27.6% |
| Gross operating margin | 9900 | €134,010 | €127,945 | -€6,065 | -4.5% |
| Operating profit (loss) | 9901 | €35,020 | €18,509 | -€16,511 | -47.1% |
| Financial income | 75/76B | €1,171 | - | -€1,171 | |
| Recurring financial income | 75 | €1,171 | - | -€1,171 | |
| Financial charges | 65/66B | €18,852 | €17,753 | -€1,099 | -5.8% |
| Recurring financial charges | 65 | €18,852 | €17,753 | -€1,099 | -5.8% |
| Profit (loss) for the period before taxes | 9903 | €17,339 | €756 | -€16,583 | -95.6% |
| Income taxes | 67/77 | €5,068 | €418 | -€4,650 | -91.8% |
| Profit (loss) for the period | 9904 | €12,271 | €338 | -€11,933 | -97.2% |
| Profit (loss) for the period to be appropriated | 9905 | €12,271 | €338 | -€11,933 | -97.2% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.