Eric 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.
Eric Baeyens
Largest movements
- Tangible fixed assets -€4,200
down €4,200 (-15.5%), from €27,167 to €22,966
of which Plant, machinery and equipment: -€5,685
- Receivables within one year +€2,507
up €2,507 (+15.8%), from €15,907 to €18,414
of which Trade receivables: +€2,878
- Deferred charges and accrued income +€2,363
up €2,363, from €0 to €2,363
- Reserves -€7,268
down €7,268 (-3.7%), from €194,531 to €187,263
- Trade debts +€6,406
up €6,406 (+38.8%), from €16,498 to €22,904
- Gross operating margin -€22,420
down €22,420 (-76.0%), from €29,519 to €7,099
- Depreciation -€11,802
down €11,802 (-48.0%), from €24,591 to €12,789
- Other operating charges -€2,801
down €2,801 (-56.8%), from €4,928 to €2,128
- Financial income +€717
up €717 (+518.8%), from €138 to €855
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 | €226,654 | €226,789 | +€135 | +0.1% |
| Fixed assets | 21/28 | €27,302 | €23,101 | -€4,200 | -15.4% |
| Tangible fixed assets | 22/27 | €27,167 | €22,966 | -€4,200 | -15.5% |
| Land and buildings | 22 | €8,214 | €11,962 | +€3,748 | +45.6% |
| Plant, machinery and equipment | 23 | €15,806 | €10,121 | -€5,685 | -36.0% |
| Furniture and vehicles | 24 | €3,147 | €883 | -€2,264 | -71.9% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €199,352 | €203,688 | +€4,335 | +2.2% |
| Amounts receivable within one year | 40/41 | €15,907 | €18,414 | +€2,507 | +15.8% |
| Trade receivables | 40 | €15,524 | €18,403 | +€2,878 | +18.5% |
| Other amounts receivable | 41 | €383 | €12 | -€371 | -96.9% |
| Cash at bank and in hand | 54/58 | €183,445 | €182,910 | -€535 | -0.3% |
| Deferred charges and accrued income | 490/1 | €0 | €2,363 | +€2,363 | |
| Total equity and liabilities | 10/49 | €226,654 | €226,789 | +€135 | +0.1% |
| Equity | 10/15 | €206,931 | €199,663 | -€7,268 | -3.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €194,531 | €187,263 | -€7,268 | -3.7% |
| Distributable reserves | 133 | €194,531 | €187,263 | -€7,268 | -3.7% |
| Amounts payable | 17/49 | €19,723 | €27,126 | +€7,403 | +37.5% |
| Amounts payable within one year | 42/48 | €19,723 | €27,126 | +€7,403 | +37.5% |
| Trade debts | 44 | €16,498 | €22,904 | +€6,406 | +38.8% |
| Suppliers | 440/4 | €16,498 | €22,904 | +€6,406 | +38.8% |
| Taxes, remuneration and social security | 45 | €1,291 | €1,758 | +€466 | +36.1% |
| Taxes | 450/3 | €1,291 | €1,758 | +€466 | +36.1% |
| Other amounts payable | 47/48 | €1,934 | €2,464 | +€530 | +27.4% |
| Non-recurring operating income | 76A | €23,000 | €0 | -€23,000 | -100.0% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,591 | €12,789 | -€11,802 | -48.0% |
| Other operating charges | 640/8 | €4,928 | €2,128 | -€2,801 | -56.8% |
| Gross operating margin | 9900 | €29,519 | €7,099 | -€22,420 | -76.0% |
| Operating profit (loss) | 9901 | -€1 | -€7,818 | -€7,817 | -1015229.9% |
| Financial income | 75/76B | €138 | €855 | +€717 | +518.8% |
| Recurring financial income | 75 | €138 | €855 | +€717 | +518.8% |
| Financial charges | 65/66B | €178 | €158 | -€20 | -11.2% |
| Recurring financial charges | 65 | €178 | €158 | -€20 | -11.2% |
| Profit (loss) for the period before taxes | 9903 | -€41 | -€7,122 | -€7,081 | -17265.5% |
| Income taxes | 67/77 | €139 | €146 | +€7 | +5.4% |
| Profit (loss) for the period | 9904 | -€180 | -€7,268 | -€7,088 | -3944.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€180 | -€7,268 | -€7,088 | -3944.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.