WOUTER BAERT: 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.
WOUTER BAERT
Largest movements
- Cash +€27,169
up €27,169 (+84.8%), from €32,047 to €59,216
mainly Receivables within one year (+€23,936) and Depreciation (+€14,458)
- Receivables within one year -€23,936
down €23,936 (-60.0%), from €39,873 to €15,938
of which Trade receivables: -€21,731
- Tangible fixed assets -€13,102
down €13,102 (-35.8%), from €36,579 to €23,477
of which Furniture and vehicles: -€10,847
- Debts after one year -€6,149
down €6,149 (-51.6%), from €11,911 to €5,762
- Other debts -€4,483
down €4,483 (-22.6%), from €19,875 to €15,392
- Reserves +€2,672
up €2,672 (+4.3%), from €61,510 to €64,182
- Tax, wage and social debts -€1,947
down €1,947 (-36.9%), from €5,279 to €3,333
- Depreciation -€4,491
down €4,491 (-23.7%), from €18,948 to €14,458
- Taxes +€1,376
up €1,376 (+289.1%), from €476 to €1,852
- Gross operating margin -€297
down €297 (-1.3%), from €22,892 to €22,596
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 | €109,746 | €99,884 | -€9,862 | -9.0% |
| Fixed assets | 21/28 | €36,579 | €23,477 | -€13,102 | -35.8% |
| Tangible fixed assets | 22/27 | €36,579 | €23,477 | -€13,102 | -35.8% |
| Plant, machinery and equipment | 23 | €6,657 | €4,401 | -€2,256 | -33.9% |
| Furniture and vehicles | 24 | €29,922 | €19,075 | -€10,847 | -36.3% |
| Current assets | 29/58 | €73,167 | €76,407 | +€3,241 | +4.4% |
| Amounts receivable within one year | 40/41 | €39,873 | €15,938 | -€23,936 | -60.0% |
| Trade receivables | 40 | €37,349 | €15,618 | -€21,731 | -58.2% |
| Other amounts receivable | 41 | €2,524 | €319 | -€2,205 | -87.3% |
| Cash at bank and in hand | 54/58 | €32,047 | €59,216 | +€27,169 | +84.8% |
| Deferred charges and accrued income | 490/1 | €1,247 | €1,254 | +€7 | +0.6% |
| Total equity and liabilities | 10/49 | €109,746 | €99,884 | -€9,862 | -9.0% |
| Equity | 10/15 | €63,510 | €66,182 | +€2,672 | +4.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €61,510 | €64,182 | +€2,672 | +4.3% |
| Distributable reserves | 133 | €61,510 | €64,182 | +€2,672 | +4.3% |
| Amounts payable | 17/49 | €46,236 | €33,702 | -€12,534 | -27.1% |
| Amounts payable after more than one year | 17 | €11,911 | €5,762 | -€6,149 | -51.6% |
| Financial debts | 170/4 | €11,911 | €5,762 | -€6,149 | -51.6% |
| Amounts payable within one year | 42/48 | €34,325 | €27,939 | -€6,386 | -18.6% |
| Current portion of amounts payable after more than one year | 42 | €6,008 | €6,149 | +€140 | +2.3% |
| Trade debts | 44 | €3,162 | €3,066 | -€96 | -3.0% |
| Suppliers | 440/4 | €3,162 | €3,066 | -€96 | -3.0% |
| Taxes, remuneration and social security | 45 | €5,279 | €3,333 | -€1,947 | -36.9% |
| Taxes | 450/3 | €5,279 | €3,333 | -€1,947 | -36.9% |
| Other amounts payable | 47/48 | €19,875 | €15,392 | -€4,483 | -22.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,948 | €14,458 | -€4,491 | -23.7% |
| Other operating charges | 640/8 | €886 | €904 | +€18 | +2.0% |
| Gross operating margin | 9900 | €22,892 | €22,596 | -€297 | -1.3% |
| Operating profit (loss) | 9901 | €3,058 | €7,234 | +€4,176 | +136.6% |
| Financial income | 75/76B | - | €10 | +€10 | |
| Recurring financial income | 75 | - | €10 | +€10 | |
| Financial charges | 65/66B | €1,984 | €1,886 | -€98 | -4.9% |
| Recurring financial charges | 65 | €1,984 | €1,886 | -€98 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | €1,074 | €5,358 | +€4,284 | +399.1% |
| Income taxes | 67/77 | €476 | €1,852 | +€1,376 | +289.1% |
| Profit (loss) for the period | 9904 | €598 | €3,505 | +€2,908 | +486.7% |
| Profit (loss) for the period to be appropriated | 9905 | €598 | €3,505 | +€2,908 | +486.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.