BAEYAERT: 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.
BAEYAERT
Largest movements
- Cash -€19,566
down €19,566 (-68.2%), from €28,702 to €9,136
mainly Debts after one year (-€37,148) and Deferred charges and accrued income (-€5,250)
- Financial fixed assets -€14,285
down €14,285 (-3.2%), from €449,605 to €435,320
- Deferred charges and accrued income +€5,250
up €5,250 (+64.9%), from €8,094 to €13,344
- Debts after one year -€37,148
down €37,148 (-13.2%), from €281,834 to €244,686
of which Other amounts payable: -€37,148
- Profit (loss) carried forward +€9,552
up €9,552 (+5.1%), from €187,017 to €196,569
- Gross operating margin +€4,812
up €4,812 (+51.0%), from €9,440 to €14,252
- Taxes +€1,210
up €1,210 (+49.8%), from €2,430 to €3,641
- Financial income -€626
down €626 (-9.9%), from €6,355 to €5,729
- Financial charges -€195
down €195 (-3.4%), from €5,767 to €5,572
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 | €489,759 | €461,997 | -€27,761 | -5.7% |
| Fixed assets | 21/28 | €449,605 | €435,320 | -€14,285 | -3.2% |
| Financial fixed assets | 28 | €449,605 | €435,320 | -€14,285 | -3.2% |
| Current assets | 29/58 | €40,154 | €26,677 | -€13,477 | -33.6% |
| Stocks and contracts in progress | 3 | €129 | €132 | +€3 | +2.1% |
| Stocks | 30/36 | €129 | €132 | +€3 | +2.1% |
| Amounts receivable within one year | 40/41 | €3,229 | €4,065 | +€837 | +25.9% |
| Trade receivables | 40 | €1,270 | €1,546 | +€276 | +21.7% |
| Other amounts receivable | 41 | €1,959 | €2,519 | +€561 | +28.6% |
| Cash at bank and in hand | 54/58 | €28,702 | €9,136 | -€19,566 | -68.2% |
| Deferred charges and accrued income | 490/1 | €8,094 | €13,344 | +€5,250 | +64.9% |
| Total equity and liabilities | 10/49 | €489,759 | €461,997 | -€27,761 | -5.7% |
| Equity | 10/15 | €207,477 | €217,029 | +€9,552 | +4.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €187,017 | €196,569 | +€9,552 | +5.1% |
| Amounts payable | 17/49 | €282,282 | €244,969 | -€37,313 | -13.2% |
| Amounts payable after more than one year | 17 | €281,834 | €244,686 | -€37,148 | -13.2% |
| Financial debts | 170/4 | €19,500 | €19,500 | = | 0.0% |
| Other amounts payable | 178/9 | €262,334 | €225,186 | -€37,148 | -14.2% |
| Amounts payable within one year | 42/48 | €448 | €283 | -€164 | -36.7% |
| Trade debts | 44 | €448 | €283 | -€164 | -36.7% |
| Suppliers | 440/4 | €448 | €283 | -€164 | -36.7% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other operating charges | 640/8 | €1,128 | €1,217 | +€89 | +7.9% |
| Gross operating margin | 9900 | €9,440 | €14,252 | +€4,812 | +51.0% |
| Operating profit (loss) | 9901 | €8,312 | €13,035 | +€4,723 | +56.8% |
| Financial income | 75/76B | €6,355 | €5,729 | -€626 | -9.9% |
| Recurring financial income | 75 | €6,355 | €5,729 | -€626 | -9.9% |
| Financial charges | 65/66B | €5,767 | €5,572 | -€195 | -3.4% |
| Recurring financial charges | 65 | €5,767 | €5,572 | -€195 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | €8,900 | €13,192 | +€4,292 | +48.2% |
| Income taxes | 67/77 | €2,430 | €3,641 | +€1,210 | +49.8% |
| Profit (loss) for the period | 9904 | €6,470 | €9,552 | +€3,082 | +47.6% |
| Profit (loss) for the period to be appropriated | 9905 | €6,470 | €9,552 | +€3,082 | +47.6% |
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 13 October 2026 via checked.be.