IMMO BAUDOUX: what changed
Two fiscal 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.
IMMO BAUDOUX
Largest movements
- Intangible fixed assets -€22,671
down €22,671 (-25.0%), from €90,682 to €68,012
- Cash -€12,187
down €12,187 (-45.4%), from €26,828 to €14,641
mainly Net result for the year (-€30,027) and Investment in fixed assets (net) (-€19,446)
- Tangible fixed assets +€5,443
up €5,443 (+4.6%), from €117,497 to €122,940
of which Land and buildings: +€7,651
- Profit (loss) carried forward -€30,027
down €30,027 (-17.7%), from -€170,040 to -€200,067
- Accrued charges and deferred income +€3,145
up €3,145 (+19.5%), from €16,117 to €19,262
- Gross operating margin +€1,293
up €1,293 (+14.4%), from €8,987 to €10,280
- Depreciation -€427
down €427 (-1.2%), from €37,100 to €36,673
- Other operating charges +€208
up €208 (+6.4%), from €3,231 to €3,439
- Taxes +€152
up €152 (+763.1%), from €20 to €172
- Financial income +€139
up €139 (+266.9%), from €52 to €191
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.
Cash bridge derived
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 | €235,007 | €207,593 | -€27,415 | -11.7% |
| Fixed assets | 21/28 | €208,179 | €190,952 | -€17,227 | -8.3% |
| Intangible fixed assets | 21 | €90,682 | €68,012 | -€22,671 | -25.0% |
| Tangible fixed assets | 22/27 | €117,497 | €122,940 | +€5,443 | +4.6% |
| Land and buildings | 22 | €112,801 | €120,451 | +€7,651 | +6.8% |
| Plant, machinery and equipment | 23 | €2,430 | €1,822 | -€607 | -25.0% |
| Furniture and vehicles | 24 | €2,267 | €667 | -€1,600 | -70.6% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €26,828 | €16,641 | -€10,187 | -38.0% |
| Amounts receivable within one year | 40/41 | - | €2,000 | +€2,000 | |
| Trade receivables | 40 | - | €2,000 | +€2,000 | |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €26,828 | €14,641 | -€12,187 | -45.4% |
| Total equity and liabilities | 10/49 | €235,007 | €207,593 | -€27,415 | -11.7% |
| Equity | 10/15 | €29,308 | -€719 | -€30,027 | |
| Contributions | 10/11 | €198,315 | €198,315 | = | 0.0% |
| Capital | 10 | €198,315 | €198,315 | = | 0.0% |
| Issued capital | 100 | €198,315 | €198,315 | = | 0.0% |
| Outside capital | 11 | €0 | - | = | |
| Other | 1109/19 | €0 | - | = | |
| Reserves | 13 | €1,033 | €1,033 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,033 | €1,033 | = | 0.0% |
| Legal reserve | 130 | €1,033 | €1,033 | = | 0.0% |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€170,040 | -€200,067 | -€30,027 | -17.7% |
| Amounts payable | 17/49 | €205,699 | €208,312 | +€2,613 | +1.3% |
| Amounts payable after more than one year | 17 | €2,630 | €4,130 | +€1,500 | +57.0% |
| Other amounts payable | 178/9 | €2,630 | €4,130 | +€1,500 | +57.0% |
| Amounts payable within one year | 42/48 | €186,952 | €184,920 | -€2,032 | -1.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €0 | €72 | +€72 | |
| Suppliers | 440/4 | €0 | €72 | +€72 | |
| Taxes, remuneration and social security | 45 | €169 | €115 | -€54 | -31.8% |
| Taxes | 450/3 | €169 | €115 | -€54 | -31.8% |
| Other amounts payable | 47/48 | €186,783 | €184,733 | -€2,050 | -1.1% |
| Accrued charges and deferred income | 492/3 | €16,117 | €19,262 | +€3,145 | +19.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,100 | €36,673 | -€427 | -1.2% |
| Other operating charges | 640/8 | €3,231 | €3,439 | +€208 | +6.4% |
| Gross operating margin | 9900 | €8,987 | €10,280 | +€1,293 | +14.4% |
| Operating profit (loss) | 9901 | -€31,344 | -€29,831 | +€1,513 | +4.8% |
| Financial income | 75/76B | €52 | €191 | +€139 | +266.9% |
| Recurring financial income | 75 | €52 | €191 | +€139 | +266.9% |
| Financial charges | 65/66B | €171 | €215 | +€44 | +25.6% |
| Recurring financial charges | 65 | €171 | €215 | +€44 | +25.6% |
| Profit (loss) for the period before taxes | 9903 | -€31,463 | -€29,855 | +€1,608 | +5.1% |
| Income taxes | 67/77 | €20 | €172 | +€152 | +763.1% |
| Profit (loss) for the period | 9904 | -€31,483 | -€30,027 | +€1,456 | +4.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€31,483 | -€30,027 | +€1,456 | +4.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.