F. BAUTE: 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.
F. BAUTE
Largest movements
- Tangible fixed assets +€331,665
up €331,665 (+49.5%), from €669,661 to €1.0m
of which Land and buildings: +€340,852
- Cash +€70,129
up €70,129 (+214%), from €32,731 to €102,860
mainly Debts after one year (+€177,738) and Net result for the year (+€101,505)
- Debts after one year +€177,738
up €177,738 (+18.1%), from €983,881 to €1.2m
- Reserves +€101,505
up €101,505 (+6.8%), from €1.5m to €1.6m
of which Distributable reserves: +€101,505
- Current portion of long-term debt +€51,140
up €51,140 (+45.2%), from €113,131 to €164,271
- Gross operating margin -€23,727
down €23,727 (-18.9%), from €125,824 to €102,097
- Other operating charges -€14,954
down €14,954 (-98.2%), from €15,232 to €278
- Taxes -€3,915
down €3,915 (-21.9%), from €17,845 to €13,930
- Depreciation +€2,352
up €2,352 (+8.3%), from €28,404 to €30,755
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 | €2,933,986 | €3,330,846 | +€396,860 | +13.5% |
| Fixed assets | 21/28 | €2,889,111 | €3,220,775 | +€331,665 | +11.5% |
| Tangible fixed assets | 22/27 | €669,661 | €1,001,325 | +€331,665 | +49.5% |
| Land and buildings | 22 | €603,178 | €944,030 | +€340,852 | +56.5% |
| Plant, machinery and equipment | 23 | €53,735 | €48,345 | -€5,390 | -10.0% |
| Furniture and vehicles | 24 | €12,748 | €8,950 | -€3,798 | -29.8% |
| Financial fixed assets | 28 | €2,219,450 | €2,219,450 | = | 0.0% |
| Current assets | 29/58 | €44,875 | €110,070 | +€65,195 | +145% |
| Amounts receivable within one year | 40/41 | €8,000 | €4,070 | -€3,930 | -49.1% |
| Other amounts receivable | 41 | €8,000 | €4,070 | -€3,930 | -49.1% |
| Cash at bank and in hand | 54/58 | €32,731 | €102,860 | +€70,129 | +214% |
| Deferred charges and accrued income | 490/1 | €4,144 | €3,141 | -€1,003 | -24.2% |
| Total equity and liabilities | 10/49 | €2,933,986 | €3,330,846 | +€396,860 | +13.5% |
| Equity | 10/15 | €1,527,384 | €1,628,889 | +€101,505 | +6.6% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €1,502,384 | €1,603,889 | +€101,505 | +6.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,502,384 | €1,603,889 | +€101,505 | +6.8% |
| Amounts payable | 17/49 | €1,406,602 | €1,701,957 | +€295,355 | +21.0% |
| Amounts payable after more than one year | 17 | €983,881 | €1,161,620 | +€177,738 | +18.1% |
| Financial debts | 170/4 | €983,881 | €1,161,620 | +€177,738 | +18.1% |
| Amounts payable within one year | 42/48 | €396,946 | €519,908 | +€122,961 | +31.0% |
| Current portion of amounts payable after more than one year | 42 | €113,131 | €164,271 | +€51,140 | +45.2% |
| Trade debts | 44 | €15,495 | €37,360 | +€21,865 | +141% |
| Suppliers | 440/4 | €15,495 | €37,360 | +€21,865 | +141% |
| Taxes, remuneration and social security | 45 | €13,091 | €40,082 | +€26,991 | +206% |
| Taxes | 450/3 | €13,091 | €40,082 | +€26,991 | +206% |
| Other amounts payable | 47/48 | €255,230 | €278,195 | +€22,965 | +9.0% |
| Accrued charges and deferred income | 492/3 | €25,775 | €20,430 | -€5,345 | -20.7% |
| Non-recurring operating income | 76A | €4,566 | €0 | -€4,566 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,404 | €30,755 | +€2,352 | +8.3% |
| Other operating charges | 640/8 | €15,232 | €278 | -€14,954 | -98.2% |
| Gross operating margin | 9900 | €125,824 | €102,097 | -€23,727 | -18.9% |
| Operating profit (loss) | 9901 | €82,189 | €71,064 | -€11,125 | -13.5% |
| Financial income | 75/76B | €100,000 | €100,000 | = | 0.0% |
| Recurring financial income | 75 | €100,000 | €100,000 | = | 0.0% |
| Financial charges | 65/66B | €56,625 | €55,629 | -€997 | -1.8% |
| Recurring financial charges | 65 | €56,625 | €55,629 | -€997 | -1.8% |
| Profit (loss) for the period before taxes | 9903 | €125,563 | €115,435 | -€10,128 | -8.1% |
| Income taxes | 67/77 | €17,845 | €13,930 | -€3,915 | -21.9% |
| Profit (loss) for the period | 9904 | €107,718 | €101,505 | -€6,213 | -5.8% |
| Profit (loss) for the period to be appropriated | 9905 | €107,718 | €101,505 | -€6,213 | -5.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.