BADECO: 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.
BADECO
Largest movements
- Current investments +€165,010
up €165,010 (+30.1%), from €548,749 to €713,759
- Cash -€157,287
down €157,287 (-54.6%), from €287,982 to €130,695
mainly Current investments (-€165,010) and Receivables within one year (-€47,792)
- Receivables within one year +€47,792
up €47,792 (+122%), from €39,066 to €86,857
of which Other amounts receivable: +€25,900
- Tangible fixed assets -€12,015
down €12,015 (-55.8%), from €21,517 to €9,502
of which Furniture and vehicles: -€11,004
- Reserves +€36,848
up €36,848 (+4.5%), from €826,224 to €863,072
of which Distributable reserves: +€36,848
- Trade debts +€24,090
up €24,090 (+71.0%), from €33,926 to €58,016
- Tax, wage and social debts -€15,252
down €15,252 (-91.2%), from €16,730 to €1,478
- Gross operating margin -€52,739
down €52,739 (-50.9%), from €103,697 to €50,958
- Financial income -€43,606
down €43,606 (-68.6%), from €63,575 to €19,970
- Taxes -€28,634
down €28,634 (-65.6%), from €43,679 to €15,045
- Financial charges +€2,577
up €2,577 (+66.7%), from €3,861 to €6,438
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 | €898,925 | €942,335 | +€43,410 | +4.8% |
| Fixed assets | 21/28 | €21,517 | €9,502 | -€12,015 | -55.8% |
| Tangible fixed assets | 22/27 | €21,517 | €9,502 | -€12,015 | -55.8% |
| Land and buildings | 22 | €2,880 | €2,240 | -€640 | -22.2% |
| Plant, machinery and equipment | 23 | €659 | €288 | -€371 | -56.3% |
| Furniture and vehicles | 24 | €17,979 | €6,974 | -€11,004 | -61.2% |
| Current assets | 29/58 | €877,408 | €932,833 | +€55,425 | +6.3% |
| Amounts receivable within one year | 40/41 | €39,066 | €86,857 | +€47,792 | +122% |
| Trade receivables | 40 | €39,059 | €60,950 | +€21,892 | +56.0% |
| Other amounts receivable | 41 | €7 | €25,907 | +€25,900 | +377,551% |
| Current investments | 50/53 | €548,749 | €713,759 | +€165,010 | +30.1% |
| Cash at bank and in hand | 54/58 | €287,982 | €130,695 | -€157,287 | -54.6% |
| Deferred charges and accrued income | 490/1 | €1,612 | €1,522 | -€90 | -5.6% |
| Total equity and liabilities | 10/49 | €898,925 | €942,335 | +€43,410 | +4.8% |
| Equity | 10/15 | €844,824 | €881,672 | +€36,848 | +4.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €826,224 | €863,072 | +€36,848 | +4.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €824,364 | €861,212 | +€36,848 | +4.5% |
| Amounts payable | 17/49 | €54,101 | €60,663 | +€6,562 | +12.1% |
| Amounts payable within one year | 42/48 | €54,101 | €60,663 | +€6,562 | +12.1% |
| Trade debts | 44 | €33,926 | €58,016 | +€24,090 | +71.0% |
| Suppliers | 440/4 | €33,926 | €58,016 | +€24,090 | +71.0% |
| Taxes, remuneration and social security | 45 | €16,730 | €1,478 | -€15,252 | -91.2% |
| Taxes | 450/3 | €16,730 | €1,478 | -€15,252 | -91.2% |
| Other amounts payable | 47/48 | €3,446 | €1,169 | -€2,276 | -66.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,015 | €12,015 | = | 0.0% |
| Other operating charges | 640/8 | €569 | €582 | +€13 | +2.3% |
| Gross operating margin | 9900 | €103,697 | €50,958 | -€52,739 | -50.9% |
| Operating profit (loss) | 9901 | €91,113 | €38,361 | -€52,752 | -57.9% |
| Financial income | 75/76B | €63,575 | €19,970 | -€43,606 | -68.6% |
| Recurring financial income | 75 | €63,575 | €19,970 | -€43,606 | -68.6% |
| Financial charges | 65/66B | €3,861 | €6,438 | +€2,577 | +66.7% |
| Recurring financial charges | 65 | €3,861 | €6,438 | +€2,577 | +66.7% |
| Profit (loss) for the period before taxes | 9903 | €150,827 | €51,893 | -€98,934 | -65.6% |
| Income taxes | 67/77 | €43,679 | €15,045 | -€28,634 | -65.6% |
| Profit (loss) for the period | 9904 | €107,148 | €36,848 | -€70,300 | -65.6% |
| Profit (loss) for the period to be appropriated | 9905 | €107,148 | €36,848 | -€70,300 | -65.6% |
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 14 October 2026 via checked.be.