BAFISCO: 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.
BAFISCO
Largest movements
- Financial fixed assets +€1.3m
up €1.3m (+426,463%), from €293 to €1.3m
- Tangible fixed assets +€24,725
up €24,725 (+262%), from €9,425 to €34,150
of which Other tangible fixed assets: +€15,712
- Receivables within one year +€23,668
up €23,668 (+8.2%), from €287,643 to €311,311
of which Other amounts receivable: +€32,150
- Debts after one year +€1.3m
up €1.3m (+39,409%), from €3,319 to €1.3m
- Profit (loss) carried forward +€37,713
up €37,713 (+18.0%), from €209,456 to €247,169
- Other debts -€31,677
down €31,677 (-11.9%), from €266,708 to €235,031
- Financial income -€318,428
down €318,428 (-97.7%), from €325,884 to €7,457
of which Non-recurring financial income: -€312,500
- Gross operating margin +€7,400
up €7,400 (+9.8%), from €75,716 to €83,116
- Taxes +€5,292
up €5,292 (+35.8%), from €14,782 to €20,074
- Depreciation +€2,925
up €2,925 (+37.7%), from €7,765 to €10,690
- Other operating charges +€1,891
up €1,891 (+86.1%), from €2,197 to €4,088
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 | €507,528 | €1,823,942 | +€1.3m | +259% |
| Fixed assets | 21/28 | €9,718 | €1,285,343 | +€1.3m | +13,126% |
| Tangible fixed assets | 22/27 | €9,425 | €34,150 | +€24,725 | +262% |
| Plant, machinery and equipment | 23 | - | €3,174 | +€3,174 | |
| Furniture and vehicles | 24 | €6,228 | €12,068 | +€5,840 | +93.8% |
| Other tangible fixed assets | 26 | €3,197 | €18,908 | +€15,712 | +492% |
| Financial fixed assets | 28 | €293 | €1,251,193 | +€1.3m | +426,463% |
| Current assets | 29/58 | €497,810 | €538,599 | +€40,789 | +8.2% |
| Amounts receivable within one year | 40/41 | €287,643 | €311,311 | +€23,668 | +8.2% |
| Trade receivables | 40 | €9,680 | €1,198 | -€8,482 | -87.6% |
| Other amounts receivable | 41 | €277,963 | €310,113 | +€32,150 | +11.6% |
| Current investments | 50/53 | €3,500 | €14,500 | +€11,000 | +314% |
| Cash at bank and in hand | 54/58 | €192,960 | €204,081 | +€11,121 | +5.8% |
| Deferred charges and accrued income | 490/1 | €13,707 | €8,707 | -€5,000 | -36.5% |
| Total equity and liabilities | 10/49 | €507,528 | €1,823,942 | +€1.3m | +259% |
| Equity | 10/15 | €212,456 | €250,169 | +€37,713 | +17.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €209,456 | €247,169 | +€37,713 | +18.0% |
| Amounts payable | 17/49 | €295,073 | €1,573,774 | +€1.3m | +433% |
| Amounts payable after more than one year | 17 | €3,319 | €1,311,477 | +€1.3m | +39,409% |
| Financial debts | 170/4 | €3,319 | €1,311,477 | +€1.3m | +39,409% |
| Amounts payable within one year | 42/48 | €291,753 | €262,297 | -€29,456 | -10.1% |
| Current portion of amounts payable after more than one year | 42 | €20,114 | €15,000 | -€5,114 | -25.4% |
| Trade debts | 44 | €4,932 | €4,415 | -€517 | -10.5% |
| Suppliers | 440/4 | €4,932 | €4,415 | -€517 | -10.5% |
| Taxes, remuneration and social security | 45 | - | €7,851 | +€7,851 | |
| Taxes | 450/3 | - | €7,851 | +€7,851 | |
| Other amounts payable | 47/48 | €266,708 | €235,031 | -€31,677 | -11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,765 | €10,690 | +€2,925 | +37.7% |
| Other operating charges | 640/8 | €2,197 | €4,088 | +€1,891 | +86.1% |
| Gross operating margin | 9900 | €75,716 | €83,116 | +€7,400 | +9.8% |
| Operating profit (loss) | 9901 | €65,754 | €68,339 | +€2,585 | +3.9% |
| Financial income | 75/76B | €325,884 | €7,457 | -€318,428 | -97.7% |
| Recurring financial income | 75 | €13,384 | €7,457 | -€5,928 | -44.3% |
| Non-recurring financial income | 76B | €312,500 | €0 | -€312,500 | -100% |
| Financial charges | 65/66B | €16,657 | €18,008 | +€1,351 | +8.1% |
| Recurring financial charges | 65 | €16,657 | €18,008 | +€1,351 | +8.1% |
| Profit (loss) for the period before taxes | 9903 | €374,982 | €57,787 | -€317,194 | -84.6% |
| Income taxes | 67/77 | €14,782 | €20,074 | +€5,292 | +35.8% |
| Profit (loss) for the period | 9904 | €360,199 | €37,713 | -€322,487 | -89.5% |
| Profit (loss) for the period to be appropriated | 9905 | €360,199 | €37,713 | -€322,487 | -89.5% |
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 26 October 2026 via checked.be.