Den Baksteen: 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.
Den Baksteen
Largest movements
- Cash -€27,209
down €27,209 (-65.1%), from €41,791 to €14,582
mainly Debts after one year (-€63,328) and Investment in fixed assets (net) (-€46,606)
- Debts after one year -€63,328
down €63,328 (-6.7%), from €945,167 to €881,839
- Reserves +€38,615
up €38,615 (+8.1%), from €478,856 to €517,471
of which Distributable reserves: +€62,240
- Taxes +€9,316
up €9,316 (+94.3%), from €9,877 to €19,193
- Staff costs -€6,536
new in 2026: -€6,536
- Gross operating margin -€5,005
down €5,005 (-4.4%), from €112,566 to €107,561
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,758,418 | €1,734,934 | -€23,484 | -1.3% |
| Fixed assets | 21/28 | €1,713,424 | €1,709,894 | -€3,529 | -0.2% |
| Tangible fixed assets | 22/27 | €1,713,424 | €1,709,894 | -€3,529 | -0.2% |
| Land and buildings | 22 | €1,700,773 | €1,699,337 | -€1,436 | -0.1% |
| Plant, machinery and equipment | 23 | €12,595 | €10,557 | -€2,038 | -16.2% |
| Furniture and vehicles | 24 | €55 | - | -€55 | |
| Current assets | 29/58 | €44,994 | €25,039 | -€19,955 | -44.3% |
| Amounts receivable within one year | 40/41 | €3,203 | €10,457 | +€7,255 | +227% |
| Other amounts receivable | 41 | €3,203 | €10,457 | +€7,255 | +227% |
| Cash at bank and in hand | 54/58 | €41,791 | €14,582 | -€27,209 | -65.1% |
| Total equity and liabilities | 10/49 | €1,758,418 | €1,734,934 | -€23,484 | -1.3% |
| Equity | 10/15 | €540,856 | €579,471 | +€38,615 | +7.1% |
| 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 | €478,856 | €517,471 | +€38,615 | +8.1% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €155,625 | €132,000 | -€23,625 | -15.2% |
| Distributable reserves | 133 | €317,031 | €379,271 | +€62,240 | +19.6% |
| Provisions and deferred taxes | 16 | €39,375 | €31,500 | -€7,875 | -20.0% |
| Deferred taxes | 168 | €39,375 | €31,500 | -€7,875 | -20.0% |
| Amounts payable | 17/49 | €1,178,186 | €1,123,963 | -€54,224 | -4.6% |
| Amounts payable after more than one year | 17 | €945,167 | €881,839 | -€63,328 | -6.7% |
| Financial debts | 170/4 | €945,167 | €881,839 | -€63,328 | -6.7% |
| Amounts payable within one year | 42/48 | €233,020 | €242,124 | +€9,105 | +3.9% |
| Current portion of amounts payable after more than one year | 42 | €62,356 | €63,328 | +€972 | +1.6% |
| Trade debts | 44 | €621 | €1,973 | +€1,353 | +218% |
| Suppliers | 440/4 | €621 | €1,973 | +€1,353 | +218% |
| Taxes, remuneration and social security | 45 | €6,546 | €6,735 | +€189 | +2.9% |
| Taxes | 450/3 | €10 | €6,735 | +€6,725 | +65,994% |
| Remuneration and social security | 454/9 | €6,536 | - | -€6,536 | |
| Other amounts payable | 47/48 | €163,497 | €170,088 | +€6,591 | +4.0% |
| Remuneration, social security and pensions | 62 | - | -€6,536 | -€6,536 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,684 | €50,135 | -€549 | -1.1% |
| Other operating charges | 640/8 | €1,168 | €1,201 | +€34 | +2.9% |
| Gross operating margin | 9900 | €112,566 | €107,561 | -€5,005 | -4.4% |
| Operating profit (loss) | 9901 | €60,714 | €62,760 | +€2,046 | +3.4% |
| Financial charges | 65/66B | €13,792 | €12,827 | -€964 | -7.0% |
| Recurring financial charges | 65 | €13,792 | €12,827 | -€964 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | €46,922 | €49,933 | +€3,010 | +6.4% |
| Transfer from deferred taxes | 780 | €7,875 | €7,875 | = | 0.0% |
| Income taxes | 67/77 | €9,877 | €19,193 | +€9,316 | +94.3% |
| Profit (loss) for the period | 9904 | €44,920 | €38,615 | -€6,305 | -14.0% |
| Transfer from tax-exempt reserves | 789 | €23,625 | €23,625 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €68,545 | €62,240 | -€6,305 | -9.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.