FILIP DE BAERE: what changed
FILIP DE BAERE
Largest movements
- Cash -€47,852
down €47,852 (-90.4%), from €52,952 to €5,100
mainly Contributions, distributions and other (-€232,189) and Debts after one year (-€34,007)
- Tangible fixed assets -€41,707
down €41,707 (-7.8%), from €532,642 to €490,935
of which Land and buildings: -€37,829
- Intangible fixed assets -€12,685
down €12,685 (-25.0%), from €50,741 to €38,056
- Reserves -€183,816
down €183,816 (-29.6%), from €620,780 to €436,964
of which Distributable reserves: -€176,503
- Other debts +€112,791
up €112,791, from €0 to €112,791
- Debts after one year -€34,007
down €34,007 (-15.9%), from €214,109 to €180,101
- Current portion of long-term debt -€15,710
down €15,710 (-31.6%), from €49,718 to €34,007
- Tax, wage and social debts +€14,450
up €14,450 (+29.1%), from €49,681 to €64,131
of which Remuneration and social security: +€12,609
- Staff costs +€45,976
up €45,976 (+29.0%), from €158,799 to €204,775
- Gross operating margin +€44,258
up €44,258 (+14.4%), from €306,770 to €351,028
- Other operating charges -€35,581
down €35,581 (-86.4%), from €41,165 to €5,584
- Financial income -€8,530
down €8,530 (-45.6%), from €18,712 to €10,182
of which Non-recurring financial income: -€15,000
- Taxes +€6,118
up €6,118 (+28.7%), from €21,354 to €27,472
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
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €973,769 | €870,235 | -€103,533 | -10.6% |
| Fixed assets | 21/28 | €583,570 | €529,179 | -€54,392 | -9.3% |
| Intangible fixed assets | 21 | €50,741 | €38,056 | -€12,685 | -25.0% |
| Tangible fixed assets | 22/27 | €532,642 | €490,935 | -€41,707 | -7.8% |
| Land and buildings | 22 | €476,773 | €438,944 | -€37,829 | -7.9% |
| Plant, machinery and equipment | 23 | €0 | €11,621 | +€11,621 | |
| Furniture and vehicles | 24 | €55,869 | €40,370 | -€15,499 | -27.7% |
| Financial fixed assets | 28 | €188 | €188 | = | 0.0% |
| Current assets | 29/58 | €390,198 | €341,057 | -€49,141 | -12.6% |
| Amounts receivable after more than one year | 29 | €200,000 | €200,000 | = | 0.0% |
| Other amounts receivable | 291 | €200,000 | €200,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €83,514 | €85,989 | +€2,474 | +3.0% |
| Other amounts receivable | 41 | €83,514 | €85,989 | +€2,474 | +3.0% |
| Cash at bank and in hand | 54/58 | €52,952 | €5,100 | -€47,852 | -90.4% |
| Deferred charges and accrued income | 490/1 | €53,732 | €49,968 | -€3,764 | -7.0% |
| Total equity and liabilities | 10/49 | €973,769 | €870,235 | -€103,533 | -10.6% |
| Equity | 10/15 | €639,380 | €455,564 | -€183,816 | -28.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €620,780 | €436,964 | -€183,816 | -29.6% |
| Tax-exempt reserves | 132 | €51,349 | €44,036 | -€7,313 | -14.2% |
| Distributable reserves | 133 | €569,432 | €392,928 | -€176,503 | -31.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €12,837 | €11,009 | -€1,828 | -14.2% |
| Deferred taxes | 168 | €12,837 | €11,009 | -€1,828 | -14.2% |
| Amounts payable | 17/49 | €321,551 | €403,662 | +€82,111 | +25.5% |
| Amounts payable after more than one year | 17 | €214,109 | €180,101 | -€34,007 | -15.9% |
| Financial debts | 170/4 | €214,109 | €180,101 | -€34,007 | -15.9% |
| Amounts payable within one year | 42/48 | €103,591 | €220,494 | +€116,903 | +113% |
| Current portion of amounts payable after more than one year | 42 | €49,718 | €34,007 | -€15,710 | -31.6% |
| Trade debts | 44 | €4,193 | €9,565 | +€5,372 | +128% |
| Suppliers | 440/4 | €4,193 | €9,565 | +€5,372 | +128% |
| Taxes, remuneration and social security | 45 | €49,681 | €64,131 | +€14,450 | +29.1% |
| Taxes | 450/3 | €27,139 | €28,980 | +€1,842 | +6.8% |
| Remuneration and social security | 454/9 | €22,542 | €35,150 | +€12,609 | +55.9% |
| Other amounts payable | 47/48 | €0 | €112,791 | +€112,791 | |
| Accrued charges and deferred income | 492/3 | €3,852 | €3,067 | -€784 | -20.4% |
| Non-recurring operating income | 76A | €531 | €0 | -€531 | -100% |
| Remuneration, social security and pensions | 62 | €158,799 | €204,775 | +€45,976 | +29.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,976 | €67,641 | +€4,666 | +7.4% |
| Other operating charges | 640/8 | €41,165 | €5,584 | -€35,581 | -86.4% |
| Gross operating margin | 9900 | €306,770 | €351,028 | +€44,258 | +14.4% |
| Operating profit (loss) | 9901 | €43,832 | €73,028 | +€29,196 | +66.6% |
| Financial income | 75/76B | €18,712 | €10,182 | -€8,530 | -45.6% |
| Recurring financial income | 75 | €3,712 | €10,182 | +€6,470 | +174% |
| Non-recurring financial income | 76B | €15,000 | €0 | -€15,000 | -100% |
| Financial charges | 65/66B | €4,900 | €9,193 | +€4,293 | +87.6% |
| Recurring financial charges | 65 | €4,900 | €9,193 | +€4,293 | +87.6% |
| Profit (loss) for the period before taxes | 9903 | €57,644 | €74,017 | +€16,372 | +28.4% |
| Transfer from deferred taxes | 780 | €1,828 | €1,828 | = | 0.0% |
| Income taxes | 67/77 | €21,354 | €27,472 | +€6,118 | +28.7% |
| Profit (loss) for the period | 9904 | €38,119 | €48,373 | +€10,254 | +26.9% |
| Transfer from tax-exempt reserves | 789 | €7,313 | €7,313 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €45,432 | €55,686 | +€10,254 | +22.6% |
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 6 November 2026 via checked.be.