Programmeerwerken Baert: 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.
Programmeerwerken Baert
Largest movements
- Cash +€90,663
up €90,663 (+73.0%), from €124,132 to €214,795
mainly Other debts (+€138,573) and Net result for the year (+€85,366)
- Deferred charges and accrued income -€10,264
down €10,264 (-58.7%), from €17,480 to €7,217
- Receivables within one year -€4,594
down €4,594 (-18.5%), from €24,796 to €20,202
of which Trade receivables: -€3,781
- Other debts +€138,573
up €138,573 (+323.1%), from €42,885 to €181,459
- Reserves -€96,000
down €96,000 (-99.2%), from €96,755 to €755
- Tax, wage and social debts +€33,893
up €33,893 (+560.3%), from €6,049 to €39,943
of which Taxes: +€31,949
- Gross operating margin +€63,653
up €63,653 (+134.5%), from €47,331 to €110,984
- Taxes +€11,965
up €11,965 (+110.3%), from €10,845 to €22,810
- Depreciation -€3,736
down €3,736 (-72.0%), from €5,190 to €1,454
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 | €168,686 | €244,795 | +€76,108 | +45.1% |
| Fixed assets | 21/28 | €2,277 | €2,580 | +€304 | +13.3% |
| Tangible fixed assets | 22/27 | €1,527 | €73 | -€1,454 | -95.2% |
| Furniture and vehicles | 24 | €1,527 | €73 | -€1,454 | -95.2% |
| Financial fixed assets | 28 | €750 | €2,508 | +€1,758 | +234.4% |
| Current assets | 29/58 | €166,409 | €242,214 | +€75,805 | +45.6% |
| Amounts receivable within one year | 40/41 | €24,796 | €20,202 | -€4,594 | -18.5% |
| Trade receivables | 40 | €23,983 | €20,202 | -€3,781 | -15.8% |
| Other amounts receivable | 41 | €813 | - | -€813 | |
| Cash at bank and in hand | 54/58 | €124,132 | €214,795 | +€90,663 | +73.0% |
| Deferred charges and accrued income | 490/1 | €17,480 | €7,217 | -€10,264 | -58.7% |
| Total equity and liabilities | 10/49 | €168,686 | €244,795 | +€76,108 | +45.1% |
| Equity | 10/15 | €115,305 | €19,305 | -€96,000 | -83.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €96,755 | €755 | -€96,000 | -99.2% |
| Distributable reserves | 133 | €96,755 | €755 | -€96,000 | -99.2% |
| Amounts payable | 17/49 | €53,381 | €225,490 | +€172,108 | +322.4% |
| Amounts payable within one year | 42/48 | €52,404 | €224,497 | +€172,093 | +328.4% |
| Trade debts | 44 | €3,470 | €3,096 | -€374 | -10.8% |
| Suppliers | 440/4 | €3,470 | €3,096 | -€374 | -10.8% |
| Taxes, remuneration and social security | 45 | €6,049 | €39,943 | +€33,893 | +560.3% |
| Taxes | 450/3 | €3,968 | €35,917 | +€31,949 | +805.2% |
| Remuneration and social security | 454/9 | €2,081 | €4,026 | +€1,945 | +93.4% |
| Other amounts payable | 47/48 | €42,885 | €181,459 | +€138,573 | +323.1% |
| Accrued charges and deferred income | 492/3 | €977 | €993 | +€16 | +1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,190 | €1,454 | -€3,736 | -72.0% |
| Other operating charges | 640/8 | €149 | €346 | +€196 | +131.6% |
| Gross operating margin | 9900 | €47,331 | €110,984 | +€63,653 | +134.5% |
| Operating profit (loss) | 9901 | €41,991 | €109,184 | +€67,193 | +160.0% |
| Financial income | 75/76B | €110 | €291 | +€181 | +164.3% |
| Recurring financial income | 75 | €110 | €291 | +€181 | +164.3% |
| Financial charges | 65/66B | €1,047 | €1,299 | +€252 | +24.1% |
| Recurring financial charges | 65 | €1,047 | €1,299 | +€252 | +24.1% |
| Profit (loss) for the period before taxes | 9903 | €41,054 | €108,176 | +€67,121 | +163.5% |
| Income taxes | 67/77 | €10,845 | €22,810 | +€11,965 | +110.3% |
| Profit (loss) for the period | 9904 | €30,209 | €85,366 | +€55,157 | +182.6% |
| Profit (loss) for the period to be appropriated | 9905 | €30,209 | €85,366 | +€55,157 | +182.6% |
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 2 October 2026 via checked.be.