LE BATY: 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.
LE BATY
Largest movements
- Tangible fixed assets +€614,025
up €614,025 (+40.4%), from €1.5m to €2.1m
of which Land and buildings: +€610,816
- Receivables within one year +€134,864
up €134,864 (+344%), from €39,206 to €174,070
- Cash -€34,412
down €34,412 (-18.9%), from €182,108 to €147,696
mainly Investment in fixed assets (net) (-€842,567) and Receivables within one year (-€134,864)
- Debts after one year +€503,974
up €503,974 (+66.9%), from €752,877 to €1.3m
- Reserves +€157,801
up €157,801 (+37.5%), from €421,069 to €578,871
of which Distributable reserves: +€135,000
- Tax, wage and social debts +€46,339
up €46,339 (+147%), from €31,575 to €77,914
of which Taxes: +€47,017
- Gross operating margin +€141,995
up €141,995 (+41.1%), from €345,704 to €487,699
- Taxes +€33,183
up €33,183 (+111%), from €30,015 to €63,198
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 | €2,391,098 | €3,108,337 | +€717,239 | +30.0% |
| Fixed assets | 21/28 | €1,517,994 | €2,132,019 | +€614,025 | +40.4% |
| Tangible fixed assets | 22/27 | €1,517,994 | €2,132,019 | +€614,025 | +40.4% |
| Land and buildings | 22 | €1,041,703 | €1,652,519 | +€610,816 | +58.6% |
| Plant, machinery and equipment | 23 | €427,887 | €445,846 | +€17,959 | +4.2% |
| Furniture and vehicles | 24 | €48,404 | €33,654 | -€14,750 | -30.5% |
| Current assets | 29/58 | €873,104 | €976,318 | +€103,214 | +11.8% |
| Stocks and contracts in progress | 3 | €651,789 | €654,551 | +€2,762 | +0.4% |
| Stocks | 30/36 | €651,789 | €654,551 | +€2,762 | +0.4% |
| Amounts receivable within one year | 40/41 | €39,206 | €174,070 | +€134,864 | +344% |
| Trade receivables | 40 | €39,206 | €174,070 | +€134,864 | +344% |
| Cash at bank and in hand | 54/58 | €182,108 | €147,696 | -€34,412 | -18.9% |
| Total equity and liabilities | 10/49 | €2,391,098 | €3,108,337 | +€717,239 | +30.0% |
| Equity | 10/15 | €1,268,209 | €1,426,154 | +€157,945 | +12.5% |
| Contributions | 10/11 | €91,100 | €91,100 | = | 0.0% |
| Reserves | 13 | €421,069 | €578,871 | +€157,801 | +37.5% |
| Tax-exempt reserves | 132 | €181,469 | €204,271 | +€22,801 | +12.6% |
| Distributable reserves | 133 | €239,600 | €374,600 | +€135,000 | +56.3% |
| Profit (loss) carried forward | 14 | €727,538 | €731,100 | +€3,562 | +0.5% |
| Investment grants | 15 | €28,502 | €25,084 | -€3,418 | -12.0% |
| Provisions and deferred taxes | 16 | €21,184 | €26,982 | +€5,798 | +27.4% |
| Deferred taxes | 168 | €21,184 | €26,982 | +€5,798 | +27.4% |
| Amounts payable | 17/49 | €1,101,704 | €1,655,201 | +€553,496 | +50.2% |
| Amounts payable after more than one year | 17 | €752,877 | €1,256,851 | +€503,974 | +66.9% |
| Financial debts | 170/4 | €752,877 | €1,256,851 | +€503,974 | +66.9% |
| Amounts payable within one year | 42/48 | €348,828 | €398,350 | +€49,522 | +14.2% |
| Current portion of amounts payable after more than one year | 42 | €158,463 | €185,775 | +€27,311 | +17.2% |
| Trade debts | 44 | €83,188 | €60,803 | -€22,385 | -26.9% |
| Suppliers | 440/4 | €83,188 | €60,803 | -€22,385 | -26.9% |
| Taxes, remuneration and social security | 45 | €31,575 | €77,914 | +€46,339 | +147% |
| Taxes | 450/3 | €30,585 | €77,601 | +€47,017 | +154% |
| Remuneration and social security | 454/9 | €991 | €313 | -€678 | -68.4% |
| Other amounts payable | 47/48 | €75,601 | €73,858 | -€1,743 | -2.3% |
| Remuneration, social security and pensions | 62 | €9,002 | €4,662 | -€4,339 | -48.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €223,784 | €228,542 | +€4,758 | +2.1% |
| Other operating charges | 640/8 | €10,861 | €7,065 | -€3,796 | -35.0% |
| Gross operating margin | 9900 | €345,704 | €487,699 | +€141,995 | +41.1% |
| Operating profit (loss) | 9901 | €102,057 | €247,430 | +€145,373 | +142% |
| Financial income | 75/76B | €5,386 | €3,823 | -€1,563 | -29.0% |
| Recurring financial income | 75 | €5,386 | €3,823 | -€1,563 | -29.0% |
| Financial charges | 65/66B | €24,659 | €20,894 | -€3,764 | -15.3% |
| Recurring financial charges | 65 | €24,659 | €20,894 | -€3,764 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | €82,785 | €230,359 | +€147,574 | +178% |
| Transfer from deferred taxes | 780 | €3,982 | €4,502 | +€521 | +13.1% |
| Income taxes | 67/77 | €30,015 | €63,198 | +€33,183 | +111% |
| Profit (loss) for the period | 9904 | €56,751 | €171,663 | +€114,912 | +202% |
| Transfer from tax-exempt reserves | 789 | €16,316 | €18,399 | +€2,083 | +12.8% |
| Profit (loss) for the period to be appropriated | 9905 | €73,066 | €190,062 | +€116,995 | +160% |
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 20 October 2026 via checked.be.