MENUISERIE BAGGIO: 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.
MENUISERIE BAGGIO
Largest movements
- Receivables within one year +€298,070
up €298,070 (+157.5%), from €189,249 to €487,320
of which Trade receivables: +€277,404
- Intangible fixed assets -€64,260
down €64,260 (-17.8%), from €361,444 to €297,184
- Cash -€43,875
down €43,875 (-19.6%), from €224,299 to €180,423
mainly Receivables within one year (-€298,070) and Debts after one year (-€69,058)
- Stocks and contracts +€12,848
up €12,848 (+32.1%), from €40,000 to €52,848
- Trade debts +€187,564
up €187,564 (+193.1%), from €97,134 to €284,698
- Debts after one year -€69,058
down €69,058 (-17.0%), from €406,073 to €337,014
of which Financial debts: -€69,058
- Reserves +€58,292
up €58,292 (+195.7%), from €29,787 to €88,079
- Tax, wage and social debts +€15,246
up €15,246 (+96.7%), from €15,767 to €31,012
of which Taxes: +€14,611
- Gross operating margin -€38,375
down €38,375 (-7.1%), from €537,124 to €498,749
- Staff costs -€25,325
down €25,325 (-7.3%), from €347,736 to €322,411
- Taxes +€9,775
up €9,775 (+202.1%), from €4,836 to €14,611
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 | €868,899 | €1,062,429 | +€193,530 | +22.3% |
| Fixed assets | 21/28 | €406,337 | €332,356 | -€73,981 | -18.2% |
| Intangible fixed assets | 21 | €361,444 | €297,184 | -€64,260 | -17.8% |
| Tangible fixed assets | 22/27 | €44,306 | €34,585 | -€9,721 | -21.9% |
| Plant, machinery and equipment | 23 | €35,022 | €30,743 | -€4,279 | -12.2% |
| Furniture and vehicles | 24 | €9,284 | €3,843 | -€5,441 | -58.6% |
| Financial fixed assets | 28 | €586 | €586 | = | 0.0% |
| Current assets | 29/58 | €462,563 | €730,073 | +€267,511 | +57.8% |
| Stocks and contracts in progress | 3 | €40,000 | €52,848 | +€12,848 | +32.1% |
| Stocks | 30/36 | €40,000 | €52,848 | +€12,848 | +32.1% |
| Amounts receivable within one year | 40/41 | €189,249 | €487,320 | +€298,070 | +157.5% |
| Trade receivables | 40 | €149,679 | €427,083 | +€277,404 | +185.3% |
| Other amounts receivable | 41 | €39,571 | €60,237 | +€20,666 | +52.2% |
| Cash at bank and in hand | 54/58 | €224,299 | €180,423 | -€43,875 | -19.6% |
| Deferred charges and accrued income | 490/1 | €9,014 | €9,482 | +€468 | +5.2% |
| Total equity and liabilities | 10/49 | €868,899 | €1,062,429 | +€193,530 | +22.3% |
| Equity | 10/15 | €179,787 | €238,079 | +€58,292 | +32.4% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €29,787 | €88,079 | +€58,292 | +195.7% |
| Distributable reserves | 133 | €29,787 | €88,079 | +€58,292 | +195.7% |
| Amounts payable | 17/49 | €689,112 | €824,350 | +€135,238 | +19.6% |
| Amounts payable after more than one year | 17 | €406,073 | €337,014 | -€69,058 | -17.0% |
| Financial debts | 170/4 | €341,902 | €272,843 | -€69,058 | -20.2% |
| Other amounts payable | 178/9 | €64,171 | €64,171 | = | 0.0% |
| Amounts payable within one year | 42/48 | €279,049 | €484,769 | +€205,720 | +73.7% |
| Current portion of amounts payable after more than one year | 42 | €66,148 | €69,058 | +€2,910 | +4.4% |
| Financial debts | 43 | €100,000 | €100,000 | = | 0.0% |
| Credit institutions | 430/8 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €97,134 | €284,698 | +€187,564 | +193.1% |
| Suppliers | 440/4 | €97,134 | €284,698 | +€187,564 | +193.1% |
| Taxes, remuneration and social security | 45 | €15,767 | €31,012 | +€15,246 | +96.7% |
| Taxes | 450/3 | €4,836 | €19,447 | +€14,611 | +302.1% |
| Remuneration and social security | 454/9 | €10,931 | €11,565 | +€635 | +5.8% |
| Accrued charges and deferred income | 492/3 | €3,991 | €2,567 | -€1,424 | -35.7% |
| Remuneration, social security and pensions | 62 | €347,736 | €322,411 | -€25,325 | -7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,427 | €73,981 | -€446 | -0.6% |
| Other operating charges | 640/8 | €1,341 | €2,514 | +€1,173 | +87.5% |
| Gross operating margin | 9900 | €537,124 | €498,749 | -€38,375 | -7.1% |
| Operating profit (loss) | 9901 | €113,619 | €99,842 | -€13,777 | -12.1% |
| Financial income | 75/76B | €183 | €119 | -€64 | -35.1% |
| Recurring financial income | 75 | €183 | €119 | -€64 | -35.1% |
| Financial charges | 65/66B | €28,710 | €27,058 | -€1,652 | -5.8% |
| Recurring financial charges | 65 | €28,710 | €27,058 | -€1,652 | -5.8% |
| Profit (loss) for the period before taxes | 9903 | €85,092 | €72,903 | -€12,189 | -14.3% |
| Income taxes | 67/77 | €4,836 | €14,611 | +€9,775 | +202.1% |
| Profit (loss) for the period | 9904 | €80,256 | €58,292 | -€21,964 | -27.4% |
| Profit (loss) for the period to be appropriated | 9905 | €80,256 | €58,292 | -€21,964 | -27.4% |
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 2 October 2026 via checked.be.