BADCON: what changed
Two fiscal 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.
BADCON
Largest movements
- Stocks and contracts +€22,439
up €22,439 (+109.5%), from €20,499 to €42,937
- Cash -€19,338
down €19,338 (-95.6%), from €20,223 to €886
mainly Stocks and contracts (-€22,439) and Tax, wage and social debts (-€13,254)
- Receivables within one year +€1,641
up €1,641 (+64.3%), from €2,555 to €4,196
of which Trade receivables: +€2,265
- Profit (loss) carried forward +€20,374
up €20,374 (+29.3%), from -€69,465 to -€49,091
- Tax, wage and social debts -€13,254
down €13,254 (-96.1%), from €13,795 to €541
- Other debts -€2,141
down €2,141 (-3.0%), from €70,202 to €68,061
- Gross operating margin +€26,548
up €26,548, from -€5,561 to €20,987
- Write-downs +€6,935
no longer reported in 2025 (was -€6,935)
- Financial income -€3,000
down €3,000 (-85.2%), from €3,522 to €522
- Financial charges -€1,404
down €1,404 (-73.3%), from €1,914 to €511
- Taxes -€1,079
down €1,079, from €627 to -€452
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.
Cash bridge derived
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 | €43,276 | €48,019 | +€4,743 | +11.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €0 | €0 | = | |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Current assets | 29/58 | €43,276 | €48,019 | +€4,743 | +11.0% |
| Stocks and contracts in progress | 3 | €20,499 | €42,937 | +€22,439 | +109.5% |
| Stocks | 30/36 | €20,499 | €42,937 | +€22,439 | +109.5% |
| Amounts receivable within one year | 40/41 | €2,555 | €4,196 | +€1,641 | +64.3% |
| Trade receivables | 40 | €1,813 | €4,077 | +€2,265 | +124.9% |
| Other amounts receivable | 41 | €742 | €119 | -€623 | -84.0% |
| Cash at bank and in hand | 54/58 | €20,223 | €886 | -€19,338 | -95.6% |
| Total equity and liabilities | 10/49 | €43,276 | €48,019 | +€4,743 | +11.0% |
| Equity | 10/15 | -€40,957 | -€20,583 | +€20,374 | +49.7% |
| Contributions | 10/11 | €28,508 | €28,508 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€69,465 | -€49,091 | +€20,374 | +29.3% |
| Amounts payable | 17/49 | €84,234 | €68,602 | -€15,632 | -18.6% |
| Amounts payable within one year | 42/48 | €84,234 | €68,602 | -€15,632 | -18.6% |
| Trade debts | 44 | €237 | €0 | -€237 | -100.0% |
| Suppliers | 440/4 | €237 | €0 | -€237 | -100.0% |
| Taxes, remuneration and social security | 45 | €13,795 | €541 | -€13,254 | -96.1% |
| Taxes | 450/3 | €13,795 | €541 | -€13,254 | -96.1% |
| Other amounts payable | 47/48 | €70,202 | €68,061 | -€2,141 | -3.0% |
| Non-recurring operating income | 76A | €3,500 | - | -€3,500 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€6,935 | - | +€6,935 | |
| Other operating charges | 640/8 | €1,149 | €1,076 | -€73 | -6.3% |
| Gross operating margin | 9900 | -€5,561 | €20,987 | +€26,548 | |
| Operating profit (loss) | 9901 | €225 | €19,911 | +€19,686 | +8742.2% |
| Financial income | 75/76B | €3,522 | €522 | -€3,000 | -85.2% |
| Recurring financial income | 75 | €3,522 | €522 | -€3,000 | -85.2% |
| Financial charges | 65/66B | €1,914 | €511 | -€1,404 | -73.3% |
| Recurring financial charges | 65 | €1,914 | €511 | -€1,404 | -73.3% |
| Profit (loss) for the period before taxes | 9903 | €1,832 | €19,922 | +€18,090 | +987.2% |
| Income taxes | 67/77 | €627 | -€452 | -€1,079 | |
| Profit (loss) for the period | 9904 | €1,206 | €20,374 | +€19,169 | +1589.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,206 | €20,374 | +€19,169 | +1589.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.