Y.Q. BAO: 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.
Y.Q. BAO
Largest movements
- Cash +€59,635
up €59,635 (+27.9%), from €213,939 to €273,574
mainly Other debts (+€84,280) and Net result for the year (+€77,734)
- Receivables within one year -€24,372
down €24,372 (-32.4%), from €75,234 to €50,862
of which Trade receivables: -€36,353
- Tangible fixed assets -€18,942
down €18,942 (-3.0%), from €635,359 to €616,417
of which Land and buildings: -€18,687
- Other debts +€84,280
up €84,280 (+206%), from €40,913 to €125,193
- Reserves +€77,734
up €77,734 (+15.8%), from €490,644 to €568,377
- Tax, wage and social debts -€74,818
down €74,818 (-72.0%), from €103,959 to €29,141
of which Taxes: -€72,532
- Debts after one year -€50,245
down €50,245 (-34.1%), from €147,461 to €97,216
- Trade debts -€22,307
down €22,307 (-74.0%), from €30,146 to €7,839
- Depreciation -€61,118
down €61,118 (-76.3%), from €80,060 to €18,942
- Taxes +€21,644
up €21,644 (+237%), from €9,148 to €30,792
- Gross operating margin +€14,163
up €14,163 (+9.3%), from €152,026 to €166,188
- Financial charges -€2,236
down €2,236 (-24.6%), from €9,091 to €6,855
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 | €926,112 | €942,694 | +€16,582 | +1.8% |
| Fixed assets | 21/28 | €635,654 | €616,712 | -€18,942 | -3.0% |
| Tangible fixed assets | 22/27 | €635,359 | €616,417 | -€18,942 | -3.0% |
| Land and buildings | 22 | €634,989 | €616,302 | -€18,687 | -2.9% |
| Furniture and vehicles | 24 | €370 | €115 | -€255 | -69.0% |
| Financial fixed assets | 28 | €295 | €295 | = | 0.0% |
| Current assets | 29/58 | €290,458 | €325,983 | +€35,524 | +12.2% |
| Amounts receivable within one year | 40/41 | €75,234 | €50,862 | -€24,372 | -32.4% |
| Trade receivables | 40 | €49,381 | €13,028 | -€36,353 | -73.6% |
| Other amounts receivable | 41 | €25,852 | €37,834 | +€11,981 | +46.3% |
| Cash at bank and in hand | 54/58 | €213,939 | €273,574 | +€59,635 | +27.9% |
| Deferred charges and accrued income | 490/1 | €1,286 | €1,547 | +€261 | +20.3% |
| Total equity and liabilities | 10/49 | €926,112 | €942,694 | +€16,582 | +1.8% |
| Equity | 10/15 | €555,259 | €632,993 | +€77,734 | +14.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €490,644 | €568,377 | +€77,734 | +15.8% |
| Distributable reserves | 133 | €490,644 | €568,377 | +€77,734 | +15.8% |
| Profit (loss) carried forward | 14 | €52,216 | €52,216 | = | 0.0% |
| Amounts payable | 17/49 | €370,853 | €309,701 | -€61,152 | -16.5% |
| Amounts payable after more than one year | 17 | €147,461 | €97,216 | -€50,245 | -34.1% |
| Financial debts | 170/4 | €147,461 | €97,216 | -€50,245 | -34.1% |
| Amounts payable within one year | 42/48 | €223,392 | €212,418 | -€10,974 | -4.9% |
| Current portion of amounts payable after more than one year | 42 | €48,374 | €50,245 | +€1,871 | +3.9% |
| Trade debts | 44 | €30,146 | €7,839 | -€22,307 | -74.0% |
| Suppliers | 440/4 | €30,146 | €7,839 | -€22,307 | -74.0% |
| Taxes, remuneration and social security | 45 | €103,959 | €29,141 | -€74,818 | -72.0% |
| Taxes | 450/3 | €101,673 | €29,141 | -€72,532 | -71.3% |
| Remuneration and social security | 454/9 | €2,285 | - | -€2,285 | |
| Other amounts payable | 47/48 | €40,913 | €125,193 | +€84,280 | +206% |
| Accrued charges and deferred income | 492/3 | - | €67 | +€67 | |
| Remuneration, social security and pensions | 62 | €29,698 | €30,024 | +€326 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,060 | €18,942 | -€61,118 | -76.3% |
| Other operating charges | 640/8 | €2,635 | €2,616 | -€20 | -0.7% |
| Gross operating margin | 9900 | €152,026 | €166,188 | +€14,163 | +9.3% |
| Operating profit (loss) | 9901 | €39,632 | €114,606 | +€74,974 | +189% |
| Financial income | 75/76B | €361 | €775 | +€414 | +115% |
| Recurring financial income | 75 | €361 | €775 | +€414 | +115% |
| Financial charges | 65/66B | €9,091 | €6,855 | -€2,236 | -24.6% |
| Recurring financial charges | 65 | €9,091 | €6,855 | -€2,236 | -24.6% |
| Profit (loss) for the period before taxes | 9903 | €30,902 | €108,526 | +€77,624 | +251% |
| Income taxes | 67/77 | €9,148 | €30,792 | +€21,644 | +237% |
| Profit (loss) for the period | 9904 | €21,754 | €77,734 | +€55,980 | +257% |
| Profit (loss) for the period to be appropriated | 9905 | €21,754 | €77,734 | +€55,980 | +257% |
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 30 October 2026 via checked.be.