Xavier Baudoin Management: what changed
Xavier Baudoin Management
Largest movements
- Financial fixed assets +€600,000
new in 2026: €600,000
- Receivables within one year +€12,624
new in 2026: €12,624
- Cash -€12,454
down €12,454 (-25.2%), from €49,399 to €36,945
mainly Investment in fixed assets (net) (-€613,609) and Receivables within one year (-€12,624)
- Tangible fixed assets +€10,986
up €10,986 (+139%), from €7,930 to €18,916
of which Plant, machinery and equipment: +€13,498
- Other debts +€476,805
up €476,805 (+4,473%), from €10,660 to €487,464
- Reserves +€128,500
up €128,500 (+451%), from €28,500 to €157,000
- Gross operating margin +€124,737
up €124,737 (+295%), from €42,347 to €167,083
- Taxes +€43,502
up €43,502 (+392%), from €11,105 to €54,607
- Financial income +€19,411
new in 2026: €19,411
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €57,328 | €669,708 | +€612,380 | +1,068% |
| Fixed assets | 21/28 | €7,930 | €618,916 | +€610,986 | +7,705% |
| Tangible fixed assets | 22/27 | €7,930 | €18,916 | +€10,986 | +139% |
| Plant, machinery and equipment | 23 | - | €13,498 | +€13,498 | |
| Furniture and vehicles | 24 | €7,930 | €5,418 | -€2,511 | -31.7% |
| Financial fixed assets | 28 | - | €600,000 | +€600,000 | |
| Current assets | 29/58 | €49,399 | €50,792 | +€1,393 | +2.8% |
| Amounts receivable within one year | 40/41 | - | €12,624 | +€12,624 | |
| Trade receivables | 40 | - | €12,624 | +€12,624 | |
| Cash at bank and in hand | 54/58 | €49,399 | €36,945 | -€12,454 | -25.2% |
| Deferred charges and accrued income | 490/1 | - | €1,222 | +€1,222 | |
| Total equity and liabilities | 10/49 | €57,328 | €669,708 | +€612,380 | +1,068% |
| Equity | 10/15 | €32,579 | €161,121 | +€128,542 | +395% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €28,500 | €157,000 | +€128,500 | +451% |
| Distributable reserves | 133 | €28,500 | €157,000 | +€128,500 | +451% |
| Profit (loss) carried forward | 14 | €79 | €121 | +€42 | +53.0% |
| Amounts payable | 17/49 | €24,749 | €508,587 | +€483,838 | +1,955% |
| Amounts payable within one year | 42/48 | €24,749 | €508,587 | +€483,838 | +1,955% |
| Trade debts | 44 | €40 | €3,287 | +€3,247 | +8,035% |
| Suppliers | 440/4 | €40 | €3,287 | +€3,247 | +8,035% |
| Taxes, remuneration and social security | 45 | €14,049 | €17,836 | +€3,786 | +27.0% |
| Taxes | 450/3 | €14,049 | €17,836 | +€3,786 | +27.0% |
| Other amounts payable | 47/48 | €10,660 | €487,464 | +€476,805 | +4,473% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,116 | €2,623 | +€507 | +24.0% |
| Other operating charges | 640/8 | €489 | €605 | +€117 | +23.9% |
| Gross operating margin | 9900 | €42,347 | €167,083 | +€124,737 | +295% |
| Operating profit (loss) | 9901 | €39,742 | €163,855 | +€124,113 | +312% |
| Financial income | 75/76B | - | €19,411 | +€19,411 | |
| Recurring financial income | 75 | - | €19,411 | +€19,411 | |
| Financial charges | 65/66B | €58 | €117 | +€59 | +101% |
| Recurring financial charges | 65 | €58 | €117 | +€59 | +101% |
| Profit (loss) for the period before taxes | 9903 | €39,684 | €183,149 | +€143,465 | +362% |
| Income taxes | 67/77 | €11,105 | €54,607 | +€43,502 | +392% |
| Profit (loss) for the period | 9904 | €28,579 | €128,542 | +€99,963 | +350% |
| Profit (loss) for the period to be appropriated | 9905 | €28,579 | €128,542 | +€99,963 | +350% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.