BABECO: 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.
What changed
BABECO
NACE 35.110, Production of electricity from non-renewable sources
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€1.4m
2024 · -€5.6m+€4.2m
Equity
€23.6m
2024 · €25.3m-€1.7m
Cash
€284,093
2024 · €1.2m-€867,289
Balance sheet total
€34.6m
2024 · €34.5m+€119,784
Largest movements
Assets
- Current investments -€6.0m
down €6.0m (-46.6%), from €12.9m to €6.9m
- Receivables after one year +€4.6m
up €4.6m (+128%), from €3.6m to €8.2m
- Financial fixed assets +€4.3m
up €4.3m (+95.9%), from €4.5m to €8.8m
of which Affiliated companies: +€3.8m
- Receivables within one year -€2.0m
down €2.0m (-21.6%), from €9.4m to €7.4m
of which Other amounts receivable: -€2.0m
- Cash -€867,289
down €867,289 (-75.3%), from €1.2m to €284,093
mainly Receivables after one year (-€4.6m) and Investment in fixed assets (net) (-€4.6m)
Equity and liabilities
- Profit (loss) carried forward -€1.7m
down €1.7m (-6.7%), from €24.5m to €22.9m
- Other debts +€1.3m
up €1.3m (+14.1%), from €8.9m to €10.2m
- Short-term financial debts +€750,415
new in 2025: €750,415
Income statement
- Financial charges -€4.4m
down €4.4m (-59.7%), from €7.4m to €3.0m
of which Non-recurring financial charges: -€4.1m
- Turnover +€377,067
up €377,067 (+52.8%), from €714,368 to €1.1m
- Financial income +€194,881
up €194,881 (+25.6%), from €761,688 to €956,569
- Services and other goods -€105,750
down €105,750 (-40.4%), from €262,018 to €156,268
- Other operating income -€92,326
down €92,326 (-98.7%), from €93,585 to €1,259
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.
Result 2024
-€5.6m
Turnover
+€377,067
Other operating income
-€92,326
Services and other goods
+€105,750
Depreciation
-€7,196
Other operating charges
+€18,097
Other operating items
-€109,191
Financial income
+€194,881
Financial charges
+€4.4m
Taxes
-€25,235
Deferred taxes and other
-€661,947
Result 2025
-€1.4m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€2.8m
Investment
+€1.5m
Financing
+€464,156
Cash 2024
€1.2m
From operations (derived)
-€2.8m
Net result for the year
-€1.4m
Depreciation
+€247,584
Receivables after one year
-€4.6m
Receivables within one year
+€2.0m
Deferred charges and accrued income
-€122,388
Trade debts
-€161,801
Tax, wage and social debts
-€26,376
Other debts
+€1.3m
Accrued charges and deferred income
-€14,083
Investment (derived)
+€1.5m
Investment in fixed assets (net)
-€4.6m
Current investments
+€6.0m
Financing
+€464,156
Short-term financial debts
+€750,415
Contributions, distributions and other
-€286,259
Cash 2025
€284,093
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €34,510,509 | €34,630,293 | +€119,784 | +0.3% |
| Fixed assets | 21/28 | €7,201,725 | €11,518,452 | +€4.3m | +59.9% |
| Tangible fixed assets | 22/27 | €2,728,185 | €2,756,350 | +€28,165 | +1.0% |
| Land and buildings | 22 | €1,052,624 | €1,371,737 | +€319,113 | +30.3% |
| Plant, machinery and equipment | 23 | €1,478,567 | €1,248,908 | -€229,658 | -15.5% |
| Assets under construction and advance payments | 27 | €196,994 | €135,705 | -€61,289 | -31.1% |
| Financial fixed assets | 28 | €4,473,540 | €8,762,102 | +€4.3m | +95.9% |
| Affiliated companies | 280/1 | €2,076,500 | €5,902,563 | +€3.8m | +184% |
| Participating interests | 280 | €1,500 | €505,000 | +€503,500 | +33,567% |
| Amounts receivable | 281 | €2,075,000 | €5,397,563 | +€3.3m | +160% |
| Companies linked by participating interests | 282/3 | €2,397,040 | €2,859,540 | +€462,500 | +19.3% |
| Participating interests | 282 | €2,397,040 | €2,859,540 | +€462,500 | +19.3% |
| Current assets | 29/58 | €27,308,784 | €23,111,840 | -€4.2m | -15.4% |
| Amounts receivable after more than one year | 29 | €3,600,000 | €8,200,000 | +€4.6m | +128% |
| Other amounts receivable | 291 | €3,600,000 | €8,200,000 | +€4.6m | +128% |
| Amounts receivable within one year | 40/41 | €9,397,078 | €7,363,527 | -€2.0m | -21.6% |
| Trade receivables | 40 | €40,246 | €50,061 | +€9,815 | +24.4% |
| Other amounts receivable | 41 | €9,356,833 | €7,313,466 | -€2.0m | -21.8% |
| Current investments | 50/53 | €12,916,340 | €6,897,848 | -€6.0m | -46.6% |
| Other investments | 51/53 | €12,916,340 | €6,897,848 | -€6.0m | -46.6% |
| Cash at bank and in hand | 54/58 | €1,151,382 | €284,093 | -€867,289 | -75.3% |
| Deferred charges and accrued income | 490/1 | €243,984 | €366,372 | +€122,388 | +50.2% |
| Total equity and liabilities | 10/49 | €34,510,509 | €34,630,293 | +€119,784 | +0.3% |
| Equity | 10/15 | €25,324,160 | €23,637,038 | -€1.7m | -6.7% |
| Contributions | 10/11 | €255,098 | €255,098 | = | 0.0% |
| Capital | 10 | €248,219 | €248,219 | = | 0.0% |
| Issued capital | 100 | €597,978 | €597,978 | = | 0.0% |
| Uncalled capital | 101 | €349,759 | €349,759 | = | 0.0% |
| Contributions outside capital | 11 | €6,879 | €6,879 | = | 0.0% |
| Share premium | 1100/10 | €6,879 | €6,879 | = | 0.0% |
| Reserves | 13 | €296,044 | €296,044 | = | 0.0% |
| Non-distributable reserves | 130/1 | €51,668 | €51,668 | = | 0.0% |
| Legal reserve | 130 | €51,668 | €51,668 | = | 0.0% |
| Distributable reserves | 133 | €244,376 | €244,376 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,530,820 | €22,879,957 | -€1.7m | -6.7% |
| Investment grants | 15 | €242,199 | €205,939 | -€36,259 | -15.0% |
| Amounts payable | 17/49 | €9,186,348 | €10,993,254 | +€1.8m | +19.7% |
| Amounts payable within one year | 42/48 | €9,139,595 | €10,960,584 | +€1.8m | +19.9% |
| Financial debts | 43 | - | €750,415 | +€750,415 | |
| Credit institutions | 430/8 | - | €750,415 | +€750,415 | |
| Trade debts | 44 | €191,256 | €29,456 | -€161,801 | -84.6% |
| Suppliers | 440/4 | €191,256 | €29,456 | -€161,801 | -84.6% |
| Taxes, remuneration and social security | 45 | €48,339 | €21,963 | -€26,376 | -54.6% |
| Taxes | 450/3 | €48,339 | €21,963 | -€26,376 | -54.6% |
| Other amounts payable | 47/48 | €8,900,000 | €10,158,750 | +€1.3m | +14.1% |
| Accrued charges and deferred income | 492/3 | €46,753 | €32,670 | -€14,083 | -30.1% |
| Operating income | 70/76A | €917,144 | €1,092,694 | +€175,550 | +19.1% |
| Turnover | 70 | €714,368 | €1,091,435 | +€377,067 | +52.8% |
| Other operating income | 74 | €93,585 | €1,259 | -€92,326 | -98.7% |
| Non-recurring operating income | 76A | €109,191 | - | -€109,191 | |
| Operating charges | 60/66A | €550,060 | €433,408 | -€116,652 | -21.2% |
| Services and other goods | 61 | €262,018 | €156,268 | -€105,750 | -40.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €240,388 | €247,584 | +€7,196 | +3.0% |
| Other operating charges | 640/8 | €47,653 | €29,556 | -€18,097 | -38.0% |
| Operating profit (loss) | 9901 | €367,085 | €659,286 | +€292,202 | +79.6% |
| Financial income | 75/76B | €761,688 | €956,569 | +€194,881 | +25.6% |
| Recurring financial income | 75 | €761,688 | €956,569 | +€194,881 | +25.6% |
| Income from current assets | 751 | €603,319 | €468,125 | -€135,194 | -22.4% |
| Other financial income | 752/9 | €158,369 | €488,444 | +€330,075 | +208% |
| Financial charges | 65/66B | €7,424,524 | €2,989,895 | -€4.4m | -59.7% |
| Recurring financial charges | 65 | €88,072 | -€223,831 | -€311,903 | |
| Debt charges | 650 | €8,700 | €24,610 | +€15,910 | +183% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €56,798 | -€316,795 | -€373,593 | |
| Other financial charges | 652/9 | €22,574 | €68,354 | +€45,780 | +203% |
| Non-recurring financial charges | 66B | €7,336,452 | €3,213,726 | -€4.1m | -56.2% |
| Profit (loss) for the period before taxes | 9903 | -€6,295,751 | -€1,374,040 | +€4.9m | +78.2% |
| Transfer from deferred taxes | 780 | €661,947 | - | -€661,947 | |
| Income taxes | 67/77 | €1,588 | €26,823 | +€25,235 | +1,589% |
| Taxes | 670/3 | €1,588 | €26,823 | +€25,235 | +1,589% |
| Profit (loss) for the period | 9904 | -€5,635,392 | -€1,400,863 | +€4.2m | +75.1% |
| Transfer from tax-exempt reserves | 789 | €362,566 | - | -€362,566 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,272,826 | -€1,400,863 | +€3.9m | +73.4% |
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 17 October 2026 via checked.be.