FOUND & BAKER: 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.
FOUND & BAKER
Largest movements
- Cash -€268,251
down €268,251 (-27.9%), from €962,540 to €694,289
mainly Contributions, distributions and other (-€421,713) and Advances received (-€252,907)
- Receivables within one year +€63,298
up €63,298 (+7.9%), from €802,174 to €865,472
of which Other amounts receivable: +€231,181
- Advances received -€252,907
down €252,907 (-36.3%), from €697,062 to €444,154
- Trade debts +€50,592
up €50,592 (+42.7%), from €118,428 to €169,020
- Other debts -€29,815
down €29,815 (-3.8%), from €777,996 to €748,181
- Tax, wage and social debts +€23,022
up €23,022 (+15.9%), from €145,196 to €168,218
of which Taxes: +€23,026
- Gross operating margin -€495,417
down €495,417 (-35.9%), from €1.4m to €884,265
- Taxes -€117,915
down €117,915 (-43.4%), from €271,803 to €153,888
- Staff costs -€22,939
down €22,939 (-7.7%), from €299,724 to €276,785
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 | €1,853,210 | €1,640,483 | -€212,727 | -11.5% |
| Fixed assets | 21/28 | €88,281 | €80,374 | -€7,907 | -9.0% |
| Intangible fixed assets | 21 | €5,792 | €3,422 | -€2,370 | -40.9% |
| Tangible fixed assets | 22/27 | €82,488 | €66,451 | -€16,037 | -19.4% |
| Land and buildings | 22 | €24,273 | €22,892 | -€1,381 | -5.7% |
| Plant, machinery and equipment | 23 | €11,024 | €7,942 | -€3,082 | -28.0% |
| Furniture and vehicles | 24 | €47,191 | €35,617 | -€11,574 | -24.5% |
| Financial fixed assets | 28 | - | €10,500 | +€10,500 | |
| Current assets | 29/58 | €1,764,929 | €1,560,109 | -€204,820 | -11.6% |
| Amounts receivable within one year | 40/41 | €802,174 | €865,472 | +€63,298 | +7.9% |
| Trade receivables | 40 | €613,842 | €445,959 | -€167,884 | -27.3% |
| Other amounts receivable | 41 | €188,332 | €419,513 | +€231,181 | +123% |
| Cash at bank and in hand | 54/58 | €962,540 | €694,289 | -€268,251 | -27.9% |
| Deferred charges and accrued income | 490/1 | €215 | €348 | +€133 | +61.6% |
| Total equity and liabilities | 10/49 | €1,853,210 | €1,640,483 | -€212,727 | -11.5% |
| Equity | 10/15 | €110,000 | €110,000 | = | 0.0% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €10,000 | €10,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,743,210 | €1,530,483 | -€212,727 | -12.2% |
| Amounts payable after more than one year | 17 | €910 | €0 | -€910 | -100% |
| Financial debts | 170/4 | €910 | €0 | -€910 | -100% |
| Amounts payable within one year | 42/48 | €1,742,299 | €1,530,483 | -€211,816 | -12.2% |
| Current portion of amounts payable after more than one year | 42 | €3,618 | €910 | -€2,708 | -74.8% |
| Trade debts | 44 | €118,428 | €169,020 | +€50,592 | +42.7% |
| Suppliers | 440/4 | €118,428 | €169,020 | +€50,592 | +42.7% |
| Advances received on contracts in progress | 46 | €697,062 | €444,154 | -€252,907 | -36.3% |
| Taxes, remuneration and social security | 45 | €145,196 | €168,218 | +€23,022 | +15.9% |
| Taxes | 450/3 | €144,110 | €167,135 | +€23,026 | +16.0% |
| Remuneration and social security | 454/9 | €1,087 | €1,083 | -€4 | -0.4% |
| Other amounts payable | 47/48 | €777,996 | €748,181 | -€29,815 | -3.8% |
| Remuneration, social security and pensions | 62 | €299,724 | €276,785 | -€22,939 | -7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,160 | €28,445 | +€5,285 | +22.8% |
| Other operating charges | 640/8 | €8,540 | €2,897 | -€5,644 | -66.1% |
| Gross operating margin | 9900 | €1,379,682 | €884,265 | -€495,417 | -35.9% |
| Operating profit (loss) | 9901 | €1,048,258 | €576,139 | -€472,119 | -45.0% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €347 | €538 | +€191 | +54.9% |
| Recurring financial charges | 65 | €347 | €538 | +€191 | +54.9% |
| Profit (loss) for the period before taxes | 9903 | €1,047,911 | €575,601 | -€472,310 | -45.1% |
| Income taxes | 67/77 | €271,803 | €153,888 | -€117,915 | -43.4% |
| Profit (loss) for the period | 9904 | €776,108 | €421,713 | -€354,394 | -45.7% |
| Profit (loss) for the period to be appropriated | 9905 | €776,108 | €421,713 | -€354,394 | -45.7% |
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 14 October 2026 via checked.be.