BADEX: 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.
What changed
BADEX
NACE 85.531, Driving schools for cars and motorcycles
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€179
2024 · €28,300-€28,121
Equity
€337,787
2024 · €337,608+€179
Cash
€11,556
2024 · €9,624+€1,932
Balance sheet total
€1.8m
2024 · €1.4m+€361,693
Largest movements
Assets
- Financial fixed assets +€312,080
up €312,080 (+43.1%), from €724,840 to €1.0m
- Receivables within one year +€87,629
up €87,629 (+21.9%), from €399,263 to €486,893
of which Trade receivables: +€59,994
- Tangible fixed assets -€41,020
down €41,020 (-15.7%), from €261,811 to €220,792
Equity and liabilities
- Short-term financial debts +€234,893
up €234,893 (+226.8%), from €103,579 to €338,472
- Trade debts +€181,153
up €181,153 (+56.3%), from €322,029 to €503,182
- Other debts -€28,738
down €28,738 (-29.2%), from €98,280 to €69,542
- Debts after one year -€18,276
down €18,276 (-19.9%), from €91,797 to €73,520
Income statement
- Staff costs +€73,355
up €73,355 (+3.7%), from €2.0m to €2.0m
- Financial income +€42,884
up €42,884 (+293.8%), from €14,595 to €57,479
of which Financial income: +€42,884
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
€28,300
Gross operating margin
-€17,389
Staff costs
-€73,355
Depreciation
+€17,130
Other operating charges
+€2,655
Financial income
+€42,884
Financial charges
-€16,285
Taxes
+€16,240
Result 2025
€179
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.
From operations
+€131,474
Investment
-€342,497
Financing
+€212,955
Cash 2024
€9,624
From operations (derived)
+€131,474
Net result for the year
+€179
Depreciation
+€74,136
Stocks and contracts
+€862
Receivables within one year
-€87,629
Deferred charges and accrued income
-€4,633
Trade debts
+€181,153
Tax, wage and social debts
-€4,349
Other debts
-€28,738
Accrued charges and deferred income
+€492
Investment (derived)
-€342,497
Investment in fixed assets (net)
-€342,497
Financing
+€212,955
Debts after one year
-€18,276
Current portion of long-term debt
-€3,662
Short-term financial debts
+€234,893
Cash 2025
€11,556
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,432,601 | €1,794,294 | +€361,693 | +25.2% |
| Fixed assets | 21/28 | €1,010,951 | €1,279,312 | +€268,361 | +26.5% |
| Intangible fixed assets | 21 | €24,300 | €21,600 | -€2,700 | -11.1% |
| Tangible fixed assets | 22/27 | €261,811 | €220,792 | -€41,020 | -15.7% |
| Plant, machinery and equipment | 23 | €11,871 | €10,118 | -€1,754 | -14.8% |
| Furniture and vehicles | 24 | €100,424 | €80,985 | -€19,439 | -19.4% |
| Leasing and similar rights | 25 | €3,697 | €0 | -€3,697 | -100.0% |
| Other tangible fixed assets | 26 | €145,819 | €129,689 | -€16,130 | -11.1% |
| Financial fixed assets | 28 | €724,840 | €1,036,920 | +€312,080 | +43.1% |
| Current assets | 29/58 | €421,649 | €514,982 | +€93,332 | +22.1% |
| Stocks and contracts in progress | 3 | €8,608 | €7,746 | -€862 | -10.0% |
| Stocks | 30/36 | €8,608 | €7,746 | -€862 | -10.0% |
| Amounts receivable within one year | 40/41 | €399,263 | €486,893 | +€87,629 | +21.9% |
| Trade receivables | 40 | €339,719 | €399,713 | +€59,994 | +17.7% |
| Other amounts receivable | 41 | €59,544 | €87,180 | +€27,636 | +46.4% |
| Cash at bank and in hand | 54/58 | €9,624 | €11,556 | +€1,932 | +20.1% |
| Deferred charges and accrued income | 490/1 | €4,155 | €8,787 | +€4,633 | +111.5% |
| Total equity and liabilities | 10/49 | €1,432,601 | €1,794,294 | +€361,693 | +25.2% |
| Equity | 10/15 | €337,608 | €337,787 | +€179 | +0.1% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €106,197 | €106,197 | = | 0.0% |
| Distributable reserves | 133 | €106,197 | €106,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | €169,437 | €169,616 | +€179 | +0.1% |
| Amounts payable | 17/49 | €1,094,993 | €1,456,507 | +€361,514 | +33.0% |
| Amounts payable after more than one year | 17 | €91,797 | €73,520 | -€18,276 | -19.9% |
| Financial debts | 170/4 | €91,797 | €73,520 | -€18,276 | -19.9% |
| Amounts payable within one year | 42/48 | €1,001,703 | €1,381,000 | +€379,298 | +37.9% |
| Current portion of amounts payable after more than one year | 42 | €26,963 | €23,302 | -€3,662 | -13.6% |
| Financial debts | 43 | €103,579 | €338,472 | +€234,893 | +226.8% |
| Credit institutions | 430/8 | €103,579 | €338,472 | +€234,893 | +226.8% |
| Trade debts | 44 | €322,029 | €503,182 | +€181,153 | +56.3% |
| Suppliers | 440/4 | €322,029 | €503,182 | +€181,153 | +56.3% |
| Taxes, remuneration and social security | 45 | €450,852 | €446,503 | -€4,349 | -1.0% |
| Taxes | 450/3 | €52,095 | €64,521 | +€12,426 | +23.9% |
| Remuneration and social security | 454/9 | €398,756 | €381,982 | -€16,775 | -4.2% |
| Other amounts payable | 47/48 | €98,280 | €69,542 | -€28,738 | -29.2% |
| Accrued charges and deferred income | 492/3 | €1,494 | €1,986 | +€492 | +33.0% |
| Non-recurring operating income | 76A | €9,706 | €0 | -€9,706 | -100.0% |
| Remuneration, social security and pensions | 62 | €1,970,054 | €2,043,409 | +€73,355 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,266 | €74,136 | -€17,130 | -18.8% |
| Other operating charges | 640/8 | €9,327 | €6,672 | -€2,655 | -28.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €2,164,019 | €2,146,630 | -€17,389 | -0.8% |
| Operating profit (loss) | 9901 | €93,373 | €22,413 | -€70,960 | -76.0% |
| Financial income | 75/76B | €14,595 | €57,479 | +€42,884 | +293.8% |
| Recurring financial income | 75 | €14,595 | €57,479 | +€42,884 | +293.8% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €61,300 | €77,585 | +€16,285 | +26.6% |
| Recurring financial charges | 65 | €61,300 | €77,585 | +€16,285 | +26.6% |
| Profit (loss) for the period before taxes | 9903 | €46,668 | €2,308 | -€44,360 | -95.1% |
| Income taxes | 67/77 | €18,369 | €2,129 | -€16,240 | -88.4% |
| Profit (loss) for the period | 9904 | €28,300 | €179 | -€28,121 | -99.4% |
| Profit (loss) for the period to be appropriated | 9905 | €28,300 | €179 | -€28,121 | -99.4% |
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 5 October 2026 via checked.be.