DE SUTTER - BAEYENS: 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.
DE SUTTER - BAEYENS
Largest movements
- Cash -€53,928
down €53,928 (-57.3%), from €94,159 to €40,231
mainly Net result for the year (-€89,111) and Trade debts (-€9,353)
- Tangible fixed assets -€38,598
down €38,598 (-9.2%), from €417,411 to €378,813
- Receivables within one year -€16,751
down €16,751 (-66.8%), from €25,081 to €8,329
of which Other amounts receivable: -€17,140
- Profit (loss) carried forward -€89,111
down €89,111 (-36.4%), from -€244,694 to -€333,805
- Trade debts -€9,353
down €9,353 (-64.8%), from €14,441 to €5,088
- Tax, wage and social debts -€6,263
down €6,263 (-90.5%), from €6,922 to €659
of which Taxes: -€6,044
- Gross operating margin +€28,061
up €28,061 (+38.9%), from -€72,120 to -€44,059
- Depreciation +€1,941
up €1,941 (+5.3%), from €36,658 to €38,598
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 | €545,429 | €436,448 | -€108,981 | -20.0% |
| Fixed assets | 21/28 | €418,696 | €379,948 | -€38,748 | -9.3% |
| Tangible fixed assets | 22/27 | €417,411 | €378,813 | -€38,598 | -9.2% |
| Land and buildings | 22 | €362,140 | €350,775 | -€11,365 | -3.1% |
| Plant, machinery and equipment | 23 | €12,185 | €6,014 | -€6,171 | -50.6% |
| Furniture and vehicles | 24 | €31,887 | €16,425 | -€15,462 | -48.5% |
| Leasing and similar rights | 25 | €11,200 | €5,600 | -€5,600 | -50.0% |
| Financial fixed assets | 28 | €1,285 | €1,135 | -€150 | -11.7% |
| Current assets | 29/58 | €126,733 | €56,500 | -€70,233 | -55.4% |
| Stocks and contracts in progress | 3 | €6,600 | €5,600 | -€1,000 | -15.2% |
| Stocks | 30/36 | €6,600 | €5,600 | -€1,000 | -15.2% |
| Amounts receivable within one year | 40/41 | €25,081 | €8,329 | -€16,751 | -66.8% |
| Trade receivables | 40 | €4,983 | €5,372 | +€389 | +7.8% |
| Other amounts receivable | 41 | €20,097 | €2,957 | -€17,140 | -85.3% |
| Cash at bank and in hand | 54/58 | €94,159 | €40,231 | -€53,928 | -57.3% |
| Deferred charges and accrued income | 490/1 | €893 | €2,340 | +€1,447 | +162% |
| Total equity and liabilities | 10/49 | €545,429 | €436,448 | -€108,981 | -20.0% |
| Equity | 10/15 | €514,306 | €425,195 | -€89,111 | -17.3% |
| Contributions | 10/11 | €90,000 | €90,000 | = | 0.0% |
| Reserves | 13 | €669,000 | €669,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,000 | €9,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,000 | €9,000 | = | 0.0% |
| Distributable reserves | 133 | €660,000 | €660,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€244,694 | -€333,805 | -€89,111 | -36.4% |
| Amounts payable | 17/49 | €31,123 | €11,253 | -€19,870 | -63.8% |
| Amounts payable after more than one year | 17 | €4,978 | - | -€4,978 | |
| Financial debts | 170/4 | €4,978 | - | -€4,978 | |
| Amounts payable within one year | 42/48 | €26,145 | €11,253 | -€14,892 | -57.0% |
| Current portion of amounts payable after more than one year | 42 | €4,781 | €4,978 | +€197 | +4.1% |
| Trade debts | 44 | €14,441 | €5,088 | -€9,353 | -64.8% |
| Suppliers | 440/4 | €14,441 | €5,088 | -€9,353 | -64.8% |
| Taxes, remuneration and social security | 45 | €6,922 | €659 | -€6,263 | -90.5% |
| Taxes | 450/3 | €6,703 | €659 | -€6,044 | -90.2% |
| Remuneration and social security | 454/9 | €220 | - | -€220 | |
| Other amounts payable | 47/48 | - | €528 | +€528 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,658 | €38,598 | +€1,941 | +5.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €461 | +€461 | |
| Other operating charges | 640/8 | €3,734 | €4,294 | +€560 | +15.0% |
| Gross operating margin | 9900 | -€72,120 | -€44,059 | +€28,061 | +38.9% |
| Operating profit (loss) | 9901 | -€112,511 | -€87,412 | +€25,099 | +22.3% |
| Financial income | 75/76B | - | €421 | +€421 | |
| Recurring financial income | 75 | - | €421 | +€421 | |
| Financial charges | 65/66B | €1,014 | €1,460 | +€447 | +44.1% |
| Recurring financial charges | 65 | €1,014 | €1,460 | +€447 | +44.1% |
| Profit (loss) for the period before taxes | 9903 | -€113,525 | -€88,452 | +€25,072 | +22.1% |
| Income taxes | 67/77 | €652 | €659 | +€7 | +1.1% |
| Profit (loss) for the period | 9904 | -€114,177 | -€89,111 | +€25,065 | +22.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€114,177 | -€89,111 | +€25,065 | +22.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.