EXPERTISEBURO BAERT: what changed
EXPERTISEBURO BAERT
Largest movements
- Receivables within one year +€70,310
up €70,310 (+35.0%), from €200,933 to €271,243
of which Trade receivables: +€77,738
- Current investments -€46,915
down €46,915 (-91.5%), from €51,254 to €4,339
- Tangible fixed assets -€11,155
down €11,155 (-9.0%), from €123,556 to €112,401
of which Land and buildings: -€16,609
- Trade debts +€59,332
up €59,332 (+242%), from €24,532 to €83,864
- Other debts -€18,150
down €18,150 (-82.5%), from €22,000 to €3,850
- Debts after one year -€17,410
down €17,410 (-15.5%), from €112,369 to €94,959
- Reserves -€12,823
down €12,823 (-11.9%), from €108,015 to €95,192
- Tax, wage and social debts +€5,076
up €5,076 (+9.0%), from €56,152 to €61,229
of which Remuneration and social security: +€14,600
- Gross operating margin -€26,489
down €26,489 (-11.8%), from €224,717 to €198,228
- Staff costs -€8,765
down €8,765 (-4.8%), from €184,459 to €175,694
- Taxes -€4,878
down €4,878 (-86.1%), from €5,668 to €790
- Other operating charges -€4,215
down €4,215 (-47.4%), from €8,889 to €4,674
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
Cash or the result is not a separate line in both sets of accounts. So the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €397,146 | €410,185 | +€13,038 | +3.3% |
| Fixed assets | 21/28 | €124,456 | €113,301 | -€11,155 | -9.0% |
| Tangible fixed assets | 22/27 | €123,556 | €112,401 | -€11,155 | -9.0% |
| Land and buildings | 22 | €112,844 | €96,235 | -€16,609 | -14.7% |
| Furniture and vehicles | 24 | €2,781 | €13,687 | +€10,906 | +392% |
| Leasing and similar rights | 25 | €7,932 | €2,480 | -€5,452 | -68.7% |
| Financial fixed assets | 28 | €900 | €900 | = | 0.0% |
| Current assets | 29/58 | €272,690 | €296,884 | +€24,194 | +8.9% |
| Amounts receivable within one year | 40/41 | €200,933 | €271,243 | +€70,310 | +35.0% |
| Trade receivables | 40 | €168,555 | €246,293 | +€77,738 | +46.1% |
| Other amounts receivable | 41 | €32,378 | €24,950 | -€7,428 | -22.9% |
| Current investments | 50/53 | €51,254 | €4,339 | -€46,915 | -91.5% |
| Deferred charges and accrued income | 490/1 | €20,504 | €21,303 | +€799 | +3.9% |
| Total equity and liabilities | 10/49 | €397,146 | €410,185 | +€13,038 | +3.3% |
| Equity | 10/15 | €153,015 | €140,192 | -€12,823 | -8.4% |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Reserves | 13 | €108,015 | €95,192 | -€12,823 | -11.9% |
| Distributable reserves | 133 | €108,015 | €95,192 | -€12,823 | -11.9% |
| Amounts payable | 17/49 | €244,132 | €269,993 | +€25,861 | +10.6% |
| Amounts payable after more than one year | 17 | €112,369 | €94,959 | -€17,410 | -15.5% |
| Financial debts | 170/4 | €112,369 | €94,959 | -€17,410 | -15.5% |
| Amounts payable within one year | 42/48 | €131,763 | €175,033 | +€43,271 | +32.8% |
| Current portion of amounts payable after more than one year | 42 | €18,858 | €17,410 | -€1,448 | -7.7% |
| Financial debts | 43 | €2,646 | €1,106 | -€1,540 | -58.2% |
| Credit institutions | 430/8 | €2,646 | €1,106 | -€1,540 | -58.2% |
| Trade debts | 44 | €24,532 | €83,864 | +€59,332 | +242% |
| Suppliers | 440/4 | €24,532 | €83,864 | +€59,332 | +242% |
| Advances received on contracts in progress | 46 | €7,575 | €7,575 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €56,152 | €61,229 | +€5,076 | +9.0% |
| Taxes | 450/3 | €34,121 | €24,598 | -€9,524 | -27.9% |
| Remuneration and social security | 454/9 | €22,031 | €36,631 | +€14,600 | +66.3% |
| Other amounts payable | 47/48 | €22,000 | €3,850 | -€18,150 | -82.5% |
| Remuneration, social security and pensions | 62 | €184,459 | €175,694 | -€8,765 | -4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,513 | €24,180 | +€1,666 | +7.4% |
| Other operating charges | 640/8 | €8,889 | €4,674 | -€4,215 | -47.4% |
| Gross operating margin | 9900 | €224,717 | €198,228 | -€26,489 | -11.8% |
| Operating profit (loss) | 9901 | €8,856 | -€6,320 | -€15,176 | |
| Financial income | 75/76B | €2,553 | €1,977 | -€577 | -22.6% |
| Recurring financial income | 75 | €2,553 | €1,977 | -€577 | -22.6% |
| Financial charges | 65/66B | €7,878 | €7,689 | -€188 | -2.4% |
| Recurring financial charges | 65 | €7,878 | €7,689 | -€188 | -2.4% |
| Profit (loss) for the period before taxes | 9903 | €3,532 | -€12,032 | -€15,565 | |
| Income taxes | 67/77 | €5,668 | €790 | -€4,878 | -86.1% |
| Profit (loss) for the period | 9904 | -€2,136 | -€12,823 | -€10,687 | -500% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,136 | -€12,823 | -€10,687 | -500% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.