DE BAETS: what changed
Two fiscal 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.
DE BAETS
Largest movements
- Cash -€29,989
down €29,989 (-79.6%), from €37,652 to €7,663
mainly Investment in fixed assets (net) (-€42,167) and Other debts (-€8,917)
- Tangible fixed assets +€28,463
up €28,463 (+21.7%), from €131,073 to €159,537
- Receivables within one year +€2,745
up €2,745 (+7584.7%), from €36 to €2,781
- Profit (loss) carried forward +€9,858
up €9,858 (+18.9%), from -€52,267 to -€42,409
- Other debts -€8,917
down €8,917 (-26.4%), from €33,822 to €24,905
- Depreciation +€2,954
up €2,954 (+27.5%), from €10,750 to €13,704
- Taxes +€2,605
up €2,605 (+424.4%), from €614 to €3,219
- Gross operating margin -€2,103
down €2,103 (-5.3%), from €39,637 to €37,533
- Other operating charges +€763
up €763 (+7.7%), from €9,942 to €10,705
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.
Cash bridge derived
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 | €171,338 | €172,259 | +€921 | +0.5% |
| Fixed assets | 21/28 | €131,073 | €159,537 | +€28,463 | +21.7% |
| Tangible fixed assets | 22/27 | €131,073 | €159,537 | +€28,463 | +21.7% |
| Land and buildings | 22 | €131,073 | €159,537 | +€28,463 | +21.7% |
| Current assets | 29/58 | €40,264 | €12,722 | -€27,542 | -68.4% |
| Amounts receivable within one year | 40/41 | €36 | €2,781 | +€2,745 | +7584.7% |
| Other amounts receivable | 41 | €36 | €2,781 | +€2,745 | +7584.7% |
| Cash at bank and in hand | 54/58 | €37,652 | €7,663 | -€29,989 | -79.6% |
| Deferred charges and accrued income | 490/1 | €2,576 | €2,278 | -€298 | -11.6% |
| Total equity and liabilities | 10/49 | €171,338 | €172,259 | +€921 | +0.5% |
| Equity | 10/15 | €137,496 | €147,354 | +€9,858 | +7.2% |
| Contributions | 10/11 | €189,342 | €189,342 | = | 0.0% |
| Capital | 10 | €189,342 | €189,342 | = | 0.0% |
| Issued capital | 100 | €189,342 | €189,342 | = | 0.0% |
| Reserves | 13 | €421 | €421 | = | 0.0% |
| Distributable reserves | 133 | €421 | €421 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€52,267 | -€42,409 | +€9,858 | +18.9% |
| Amounts payable | 17/49 | €33,842 | €24,905 | -€8,937 | -26.4% |
| Amounts payable within one year | 42/48 | €33,842 | €24,905 | -€8,937 | -26.4% |
| Trade debts | 44 | €20 | - | -€20 | |
| Suppliers | 440/4 | €20 | - | -€20 | |
| Other amounts payable | 47/48 | €33,822 | €24,905 | -€8,917 | -26.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,750 | €13,704 | +€2,954 | +27.5% |
| Other operating charges | 640/8 | €9,942 | €10,705 | +€763 | +7.7% |
| Gross operating margin | 9900 | €39,637 | €37,533 | -€2,103 | -5.3% |
| Operating profit (loss) | 9901 | €18,945 | €13,124 | -€5,821 | -30.7% |
| Financial charges | 65/66B | €42 | €48 | +€6 | +13.1% |
| Recurring financial charges | 65 | €42 | €48 | +€6 | +13.1% |
| Profit (loss) for the period before taxes | 9903 | €18,903 | €13,077 | -€5,826 | -30.8% |
| Income taxes | 67/77 | €614 | €3,219 | +€2,605 | +424.4% |
| Profit (loss) for the period | 9904 | €18,289 | €9,858 | -€8,431 | -46.1% |
| Profit (loss) for the period to be appropriated | 9905 | €18,289 | €9,858 | -€8,431 | -46.1% |
Source: filed annual accounts (NBB), fiscal 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 September 2026 via checked.be.