ERIC BAKKER: 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.
ERIC BAKKER
Largest movements
- Cash +€5.3m
up €5.3m (+3871.8%), from €137,525 to €5.5m
mainly Net result for the year (+€4.4m) and Investment in fixed assets (net) (+€1.1m)
- Receivables within one year +€1.1m
up €1.1m (+165.9%), from €660,112 to €1.8m
of which Other amounts receivable: +€1.1m
- Financial fixed assets -€1.1m
down €1.1m (-98.8%), from €1.1m to €12,500
- Current investments -€452,720
down €452,720 (-43.8%), from €1.0m to €580,585
- Tangible fixed assets -€98,039
down €98,039 (-12.6%), from €776,770 to €678,731
of which Land and buildings: -€57,050
- Reserves +€4.4m
up €4.4m (+259.7%), from €1.7m to €6.1m
of which Distributable reserves: +€4.4m
- Tax, wage and social debts +€403,788
up €403,788 (+919.6%), from €43,907 to €447,696
- Financial income +€4.5m
up €4.5m (+1311.9%), from €345,752 to €4.9m
- Taxes +€411,688
up €411,688 (+1543.4%), from €26,673 to €438,361
- Depreciation +€2,730
up €2,730 (+2.7%), from €100,024 to €102,754
- Financial charges +€2,256
up €2,256 (+73.3%), from €3,077 to €5,333
- Gross operating margin -€1,566
down €1,566 (-3.0%), from €52,372 to €50,806
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 | €3,698,547 | €8,501,408 | +€4.8m | +129.9% |
| Fixed assets | 21/28 | €1,851,402 | €691,231 | -€1.2m | -62.7% |
| Tangible fixed assets | 22/27 | €776,770 | €678,731 | -€98,039 | -12.6% |
| Land and buildings | 22 | €592,799 | €535,749 | -€57,050 | -9.6% |
| Furniture and vehicles | 24 | €59,757 | €30,874 | -€28,883 | -48.3% |
| Other tangible fixed assets | 26 | €124,214 | €112,108 | -€12,105 | -9.7% |
| Financial fixed assets | 28 | €1,074,632 | €12,500 | -€1.1m | -98.8% |
| Current assets | 29/58 | €1,847,145 | €7,810,177 | +€6.0m | +322.8% |
| Amounts receivable within one year | 40/41 | €660,112 | €1,754,991 | +€1.1m | +165.9% |
| Trade receivables | 40 | €24,466 | €13,962 | -€10,504 | -42.9% |
| Other amounts receivable | 41 | €635,646 | €1,741,029 | +€1.1m | +173.9% |
| Current investments | 50/53 | €1,033,306 | €580,585 | -€452,720 | -43.8% |
| Cash at bank and in hand | 54/58 | €137,525 | €5,462,298 | +€5.3m | +3871.8% |
| Deferred charges and accrued income | 490/1 | €16,202 | €12,303 | -€3,899 | -24.1% |
| Total equity and liabilities | 10/49 | €3,698,547 | €8,501,408 | +€4.8m | +129.9% |
| Equity | 10/15 | €3,650,902 | €8,029,995 | +€4.4m | +119.9% |
| Contributions | 10/11 | €1,964,690 | €1,964,690 | = | 0.0% |
| Reserves | 13 | €1,686,213 | €6,065,305 | +€4.4m | +259.7% |
| Tax-exempt reserves | 132 | €28,368 | €28,368 | = | 0.0% |
| Distributable reserves | 133 | €1,657,845 | €6,036,938 | +€4.4m | +264.1% |
| Amounts payable | 17/49 | €47,645 | €471,413 | +€423,768 | +889.4% |
| Amounts payable within one year | 42/48 | €47,645 | €471,413 | +€423,768 | +889.4% |
| Trade debts | 44 | €3,738 | €23,717 | +€19,979 | +534.5% |
| Suppliers | 440/4 | €3,738 | €23,717 | +€19,979 | +534.5% |
| Taxes, remuneration and social security | 45 | €43,907 | €447,696 | +€403,788 | +919.6% |
| Taxes | 450/3 | €43,907 | €447,696 | +€403,788 | +919.6% |
| Accrued charges and deferred income | 492/3 | - | €0 | +€0 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €100,024 | €102,754 | +€2,730 | +2.7% |
| Other operating charges | 640/8 | €6,137 | €6,834 | +€697 | +11.4% |
| Gross operating margin | 9900 | €52,372 | €50,806 | -€1,566 | -3.0% |
| Operating profit (loss) | 9901 | -€53,789 | -€58,782 | -€4,993 | -9.3% |
| Financial income | 75/76B | €345,752 | €4,881,569 | +€4.5m | +1311.9% |
| Recurring financial income | 75 | €345,752 | €4,881,569 | +€4.5m | +1311.9% |
| Financial charges | 65/66B | €3,077 | €5,333 | +€2,256 | +73.3% |
| Recurring financial charges | 65 | €3,077 | €5,333 | +€2,256 | +73.3% |
| Profit (loss) for the period before taxes | 9903 | €288,886 | €4,817,454 | +€4.5m | +1567.6% |
| Income taxes | 67/77 | €26,673 | €438,361 | +€411,688 | +1543.4% |
| Profit (loss) for the period | 9904 | €262,212 | €4,379,093 | +€4.1m | +1570.1% |
| Profit (loss) for the period to be appropriated | 9905 | €262,212 | €4,379,093 | +€4.1m | +1570.1% |
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 6 October 2026 via checked.be.