Found & Baker Group: 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 Group
Largest movements
- Cash +€71,882
up €71,882 (+141%), from €50,898 to €122,780
mainly Net result for the year (+€539,927) and Other debts (+€224,000)
- Receivables within one year +€65,614
up €65,614 (+43.2%), from €151,724 to €217,338
of which Trade receivables: +€92,722
- Reserves +€1.1m
new in 2025: €1.1m
- Profit (loss) carried forward -€838,074
down €838,074 (-100%), from €838,074 to €0
- Debts after one year -€351,179
down €351,179 (-14.7%), from €2.4m to €2.0m
- Other debts +€224,000
up €224,000 (+419%), from €53,426 to €277,426
- Financial income +€417,005
up €417,005 (+151%), from €276,790 to €693,795
- Staff costs +€41,360
up €41,360 (+215%), from €19,272 to €60,632
- Gross operating margin +€11,939
up €11,939 (+23.8%), from -€50,152 to -€38,214
- Depreciation +€8,799
up €8,799 (+172%), from €5,120 to €13,919
- Financial charges -€5,874
down €5,874 (-13.0%), from €45,209 to €39,334
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 | €3,684,210 | €3,868,853 | +€184,643 | +5.0% |
| Fixed assets | 21/28 | €3,477,258 | €3,513,887 | +€36,629 | +1.1% |
| Tangible fixed assets | 22/27 | €68,338 | €104,967 | +€36,629 | +53.6% |
| Plant, machinery and equipment | 23 | - | €46,769 | +€46,769 | |
| Furniture and vehicles | 24 | €68,338 | €58,198 | -€10,139 | -14.8% |
| Financial fixed assets | 28 | €3,408,920 | €3,408,920 | = | 0.0% |
| Current assets | 29/58 | €206,953 | €354,966 | +€148,013 | +71.5% |
| Amounts receivable within one year | 40/41 | €151,724 | €217,338 | +€65,614 | +43.2% |
| Trade receivables | 40 | €101,950 | €194,672 | +€92,722 | +90.9% |
| Other amounts receivable | 41 | €49,774 | €22,666 | -€27,108 | -54.5% |
| Cash at bank and in hand | 54/58 | €50,898 | €122,780 | +€71,882 | +141% |
| Deferred charges and accrued income | 490/1 | €4,331 | €14,848 | +€10,517 | +243% |
| Total equity and liabilities | 10/49 | €3,684,210 | €3,868,853 | +€184,643 | +5.0% |
| Equity | 10/15 | €863,074 | €1,123,001 | +€259,927 | +30.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | - | €1,098,001 | +€1.1m | |
| Distributable reserves | 133 | - | €1,098,001 | +€1.1m | |
| Profit (loss) carried forward | 14 | €838,074 | €0 | -€838,074 | -100% |
| Amounts payable | 17/49 | €2,821,136 | €2,745,853 | -€75,284 | -2.7% |
| Amounts payable after more than one year | 17 | €2,382,644 | €2,031,465 | -€351,179 | -14.7% |
| Financial debts | 170/4 | €2,382,644 | €2,031,465 | -€351,179 | -14.7% |
| Amounts payable within one year | 42/48 | €438,493 | €714,388 | +€275,895 | +62.9% |
| Current portion of amounts payable after more than one year | 42 | €342,542 | €351,179 | +€8,637 | +2.5% |
| Trade debts | 44 | €42,323 | €78,239 | +€35,917 | +84.9% |
| Suppliers | 440/4 | €42,323 | €78,239 | +€35,917 | +84.9% |
| Taxes, remuneration and social security | 45 | €202 | €7,543 | +€7,342 | +3,642% |
| Taxes | 450/3 | €52 | €7,543 | +€7,492 | +14,513% |
| Remuneration and social security | 454/9 | €150 | €0 | -€150 | -100% |
| Other amounts payable | 47/48 | €53,426 | €277,426 | +€224,000 | +419% |
| Remuneration, social security and pensions | 62 | €19,272 | €60,632 | +€41,360 | +215% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,120 | €13,919 | +€8,799 | +172% |
| Other operating charges | 640/8 | €425 | €1,362 | +€937 | +220% |
| Gross operating margin | 9900 | -€50,152 | -€38,214 | +€11,939 | +23.8% |
| Operating profit (loss) | 9901 | -€74,970 | -€114,127 | -€39,157 | -52.2% |
| Financial income | 75/76B | €276,790 | €693,795 | +€417,005 | +151% |
| Recurring financial income | 75 | €276,790 | €693,795 | +€417,005 | +151% |
| Financial charges | 65/66B | €45,209 | €39,334 | -€5,874 | -13.0% |
| Recurring financial charges | 65 | €45,209 | €39,334 | -€5,874 | -13.0% |
| Profit (loss) for the period before taxes | 9903 | €156,611 | €540,334 | +€383,722 | +245% |
| Income taxes | 67/77 | €93 | €407 | +€314 | +340% |
| Profit (loss) for the period | 9904 | €156,519 | €539,927 | +€383,408 | +245% |
| Profit (loss) for the period to be appropriated | 9905 | €156,519 | €539,927 | +€383,408 | +245% |
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 13 October 2026 via checked.be.