FIRMA J. BAEKE: 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.
FIRMA J. BAEKE
Largest movements
- Receivables within one year +€19,439
up €19,439 (+26.7%), from €72,785 to €92,225
of which Trade receivables: +€17,884
- Cash -€3,628
down €3,628 (-26.1%), from €13,883 to €10,255
mainly Receivables within one year (-€19,439) and Net result for the year (-€9,457)
- Stocks and contracts -€1,515
down €1,515 (-6.6%), from €23,001 to €21,487
- Other debts +€21,543
up €21,543 (+1,021%), from €2,110 to €23,653
- Profit (loss) carried forward -€9,457
down €9,457 (-4.9%), from -€194,038 to -€203,495
- Gross operating margin +€6,409
up €6,409 (+69.0%), from -€9,282 to -€2,873
- Other operating charges -€2,589
down €2,589 (-31.4%), from €8,242 to €5,653
- Depreciation -€558
down €558 (-71.6%), from €779 to €221
- Financial charges +€506
up €506 (+72.5%), from €698 to €1,203
- Financial income +€121
up €121 (+32.6%), from €372 to €493
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 | €113,177 | €126,227 | +€13,050 | +11.5% |
| Fixed assets | 21/28 | €3,427 | €2,260 | -€1,167 | -34.1% |
| Tangible fixed assets | 22/27 | €3,427 | €2,260 | -€1,167 | -34.1% |
| Land and buildings | 22 | - | €1,123 | +€1,123 | |
| Plant, machinery and equipment | 23 | €3,427 | €1,137 | -€2,290 | -66.8% |
| Current assets | 29/58 | €109,750 | €123,967 | +€14,217 | +13.0% |
| Stocks and contracts in progress | 3 | €23,001 | €21,487 | -€1,515 | -6.6% |
| Stocks | 30/36 | €23,001 | €21,487 | -€1,515 | -6.6% |
| Amounts receivable within one year | 40/41 | €72,785 | €92,225 | +€19,439 | +26.7% |
| Trade receivables | 40 | €12,249 | €30,132 | +€17,884 | +146% |
| Other amounts receivable | 41 | €60,537 | €62,092 | +€1,556 | +2.6% |
| Cash at bank and in hand | 54/58 | €13,883 | €10,255 | -€3,628 | -26.1% |
| Deferred charges and accrued income | 490/1 | €80 | €0 | -€80 | -100% |
| Total equity and liabilities | 10/49 | €113,177 | €126,227 | +€13,050 | +11.5% |
| Equity | 10/15 | €64,838 | €55,381 | -€9,457 | -14.6% |
| Contributions | 10/11 | €220,635 | €220,635 | = | 0.0% |
| Capital | 10 | €220,635 | €220,635 | = | 0.0% |
| Issued capital | 100 | €220,635 | €220,635 | = | 0.0% |
| Reserves | 13 | €38,241 | €38,241 | = | 0.0% |
| Non-distributable reserves | 130/1 | €878 | €878 | = | 0.0% |
| Legal reserve | 130 | €878 | €878 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,445 | €3,445 | = | 0.0% |
| Distributable reserves | 133 | €33,918 | €33,918 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€194,038 | -€203,495 | -€9,457 | -4.9% |
| Amounts payable | 17/49 | €48,339 | €70,846 | +€22,507 | +46.6% |
| Amounts payable within one year | 42/48 | €47,831 | €70,846 | +€23,014 | +48.1% |
| Trade debts | 44 | €45,421 | €45,791 | +€369 | +0.8% |
| Suppliers | 440/4 | €45,421 | €45,791 | +€369 | +0.8% |
| Taxes, remuneration and social security | 45 | €300 | €1,402 | +€1,102 | +368% |
| Taxes | 450/3 | €300 | €1,402 | +€1,102 | +368% |
| Other amounts payable | 47/48 | €2,110 | €23,653 | +€21,543 | +1,021% |
| Accrued charges and deferred income | 492/3 | €508 | €0 | -€508 | -100% |
| Non-recurring operating income | 76A | - | €513 | +€513 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €779 | €221 | -€558 | -71.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €8,242 | €5,653 | -€2,589 | -31.4% |
| Gross operating margin | 9900 | -€9,282 | -€2,873 | +€6,409 | +69.0% |
| Operating profit (loss) | 9901 | -€18,304 | -€8,747 | +€9,557 | +52.2% |
| Financial income | 75/76B | €372 | €493 | +€121 | +32.6% |
| Recurring financial income | 75 | €372 | €493 | +€121 | +32.6% |
| Financial charges | 65/66B | €698 | €1,203 | +€506 | +72.5% |
| Recurring financial charges | 65 | €698 | €1,203 | +€506 | +72.5% |
| Profit (loss) for the period before taxes | 9903 | -€18,630 | -€9,457 | +€9,172 | +49.2% |
| Profit (loss) for the period | 9904 | -€18,630 | -€9,457 | +€9,172 | +49.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,630 | -€9,457 | +€9,172 | +49.2% |
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 26 October 2026 via checked.be.