BADECON: 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.
BADECON
Largest movements
- Cash -€371,212
down €371,212 (-99.5%), from €373,238 to €2,026
mainly Contributions, distributions and other (-€376,746) and Trade debts (-€67,373)
- Receivables within one year -€32,593
down €32,593 (-69.1%), from €47,165 to €14,571
of which Trade receivables: -€45,900
- Deferred charges and accrued income -€11,585
down €11,585 (-100%), from €11,585 to €0
- Reserves -€328,352
down €328,352 (-85.2%), from €385,474 to €57,122
of which Distributable reserves: -€328,352
- Trade debts -€67,373
down €67,373 (-98.7%), from €68,241 to €867
- Tax, wage and social debts -€22,665
down €22,665 (-100%), from €22,665 to €0
of which Taxes: -€15,425
- Gross operating margin -€64,514
down €64,514 (-50.6%), from €127,492 to €62,978
- Taxes -€7,660
down €7,660 (-31.7%), from €24,155 to €16,495
- Financial income +€7,413
up €7,413 (+530%), from €1,399 to €8,812
- Depreciation -€5,793
down €5,793 (-100%), from €5,793 to €0
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 | €500,991 | €85,601 | -€415,390 | -82.9% |
| Fixed assets | 21/28 | €69,004 | €69,004 | = | 0.0% |
| Tangible fixed assets | 22/27 | €69,004 | €69,004 | = | 0.0% |
| Land and buildings | 22 | €69,004 | €69,004 | = | 0.0% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €431,988 | €16,597 | -€415,390 | -96.2% |
| Amounts receivable within one year | 40/41 | €47,165 | €14,571 | -€32,593 | -69.1% |
| Trade receivables | 40 | €45,900 | €0 | -€45,900 | -100% |
| Other amounts receivable | 41 | €1,265 | €14,571 | +€13,307 | +1,052% |
| Cash at bank and in hand | 54/58 | €373,238 | €2,026 | -€371,212 | -99.5% |
| Deferred charges and accrued income | 490/1 | €11,585 | €0 | -€11,585 | -100% |
| Total equity and liabilities | 10/49 | €500,991 | €85,601 | -€415,390 | -82.9% |
| Equity | 10/15 | €410,085 | €81,733 | -€328,352 | -80.1% |
| Contributions | 10/11 | €24,611 | €24,611 | = | 0.0% |
| Reserves | 13 | €385,474 | €57,122 | -€328,352 | -85.2% |
| Tax-exempt reserves | 132 | €8,728 | €8,728 | = | 0.0% |
| Distributable reserves | 133 | €376,746 | €48,394 | -€328,352 | -87.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €90,906 | €3,867 | -€87,038 | -95.7% |
| Amounts payable within one year | 42/48 | €90,906 | €867 | -€90,038 | -99.0% |
| Trade debts | 44 | €68,241 | €867 | -€67,373 | -98.7% |
| Suppliers | 440/4 | €68,241 | €867 | -€67,373 | -98.7% |
| Taxes, remuneration and social security | 45 | €22,665 | €0 | -€22,665 | -100% |
| Taxes | 450/3 | €15,425 | €0 | -€15,425 | -100% |
| Remuneration and social security | 454/9 | €7,240 | €0 | -€7,240 | -100% |
| Accrued charges and deferred income | 492/3 | - | €3,000 | +€3,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,793 | €0 | -€5,793 | -100% |
| Other operating charges | 640/8 | €7,008 | €6,624 | -€384 | -5.5% |
| Gross operating margin | 9900 | €127,492 | €62,978 | -€64,514 | -50.6% |
| Operating profit (loss) | 9901 | €114,691 | €56,354 | -€58,338 | -50.9% |
| Financial income | 75/76B | €1,399 | €8,812 | +€7,413 | +530% |
| Recurring financial income | 75 | €1,399 | €8,812 | +€7,413 | +530% |
| Financial charges | 65/66B | €68 | €277 | +€209 | +310% |
| Recurring financial charges | 65 | €68 | €277 | +€209 | +310% |
| Profit (loss) for the period before taxes | 9903 | €116,023 | €64,889 | -€51,134 | -44.1% |
| Income taxes | 67/77 | €24,155 | €16,495 | -€7,660 | -31.7% |
| Profit (loss) for the period | 9904 | €91,868 | €48,394 | -€43,474 | -47.3% |
| Profit (loss) for the period to be appropriated | 9905 | €91,868 | €48,394 | -€43,474 | -47.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.