BADIBEL GROUP: 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.
BADIBEL GROUP
Largest movements
- Tangible fixed assets +€190,022
up €190,022 (+46.8%), from €405,793 to €595,815
of which Land and buildings: +€167,419
- Stocks and contracts -€42,045
no longer reported in 2025 (was €42,045)
- Receivables within one year -€10,311
down €10,311 (-40.5%), from €25,489 to €15,178
of which Trade receivables: -€8,505
- Cash -€10,277
down €10,277 (-63.2%), from €16,254 to €5,977
mainly Investment in fixed assets (net) (-€226,669) and Trade debts (-€82,833)
- Debts after one year +€163,557
up €163,557 (+78.1%), from €209,406 to €372,963
- Trade debts -€82,833
down €82,833 (-45.9%), from €180,494 to €97,661
- Other debts +€30,278
up €30,278 (+24.1%), from €125,486 to €155,763
- Profit (loss) carried forward +€27,317
up €27,317 (+28.6%), from -€95,527 to -€68,210
- Advances received -€27,300
no longer reported in 2025 (was €27,300)
- Staff costs -€55,294
down €55,294 (-56.3%), from €98,295 to €43,002
- Gross operating margin -€43,392
down €43,392 (-25.5%), from €170,419 to €127,028
- Other operating charges -€2,584
down €2,584 (-49.2%), from €5,247 to €2,663
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 | €498,661 | €626,329 | +€127,667 | +25.6% |
| Fixed assets | 21/28 | €414,603 | €604,625 | +€190,022 | +45.8% |
| Tangible fixed assets | 22/27 | €405,793 | €595,815 | +€190,022 | +46.8% |
| Land and buildings | 22 | €312,668 | €480,087 | +€167,419 | +53.5% |
| Plant, machinery and equipment | 23 | €32,786 | €44,980 | +€12,194 | +37.2% |
| Furniture and vehicles | 24 | €1,432 | €8,968 | +€7,536 | +526% |
| Other tangible fixed assets | 26 | €58,907 | €61,780 | +€2,873 | +4.9% |
| Financial fixed assets | 28 | €8,810 | €8,810 | = | 0.0% |
| Current assets | 29/58 | €84,059 | €21,704 | -€62,355 | -74.2% |
| Stocks and contracts in progress | 3 | €42,045 | - | -€42,045 | |
| Stocks | 30/36 | €42,045 | - | -€42,045 | |
| Amounts receivable within one year | 40/41 | €25,489 | €15,178 | -€10,311 | -40.5% |
| Trade receivables | 40 | €23,683 | €15,178 | -€8,505 | -35.9% |
| Other amounts receivable | 41 | €1,806 | - | -€1,806 | |
| Cash at bank and in hand | 54/58 | €16,254 | €5,977 | -€10,277 | -63.2% |
| Deferred charges and accrued income | 490/1 | €271 | €549 | +€278 | +103% |
| Total equity and liabilities | 10/49 | €498,661 | €626,329 | +€127,667 | +25.6% |
| Equity | 10/15 | -€76,927 | -€49,610 | +€27,317 | +35.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€95,527 | -€68,210 | +€27,317 | +28.6% |
| Amounts payable | 17/49 | €575,588 | €675,938 | +€100,350 | +17.4% |
| Amounts payable after more than one year | 17 | €209,406 | €372,963 | +€163,557 | +78.1% |
| Financial debts | 170/4 | €209,406 | €372,963 | +€163,557 | +78.1% |
| Amounts payable within one year | 42/48 | €366,182 | €302,975 | -€63,207 | -17.3% |
| Current portion of amounts payable after more than one year | 42 | €7,590 | €11,443 | +€3,853 | +50.8% |
| Trade debts | 44 | €180,494 | €97,661 | -€82,833 | -45.9% |
| Suppliers | 440/4 | €180,494 | €97,661 | -€82,833 | -45.9% |
| Advances received on contracts in progress | 46 | €27,300 | - | -€27,300 | |
| Taxes, remuneration and social security | 45 | €25,313 | €38,108 | +€12,795 | +50.5% |
| Taxes | 450/3 | €5,340 | €6,656 | +€1,316 | +24.6% |
| Remuneration and social security | 454/9 | €19,972 | €31,452 | +€11,480 | +57.5% |
| Other amounts payable | 47/48 | €125,486 | €155,763 | +€30,278 | +24.1% |
| Remuneration, social security and pensions | 62 | €98,295 | €43,002 | -€55,294 | -56.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,867 | €36,647 | +€780 | +2.2% |
| Other operating charges | 640/8 | €5,247 | €2,663 | -€2,584 | -49.2% |
| Gross operating margin | 9900 | €170,419 | €127,028 | -€43,392 | -25.5% |
| Operating profit (loss) | 9901 | €31,010 | €44,716 | +€13,706 | +44.2% |
| Financial income | 75/76B | €116 | €1,121 | +€1,005 | +866% |
| Recurring financial income | 75 | €116 | €1,121 | +€1,005 | +866% |
| Financial charges | 65/66B | €15,010 | €16,576 | +€1,566 | +10.4% |
| Recurring financial charges | 65 | €15,010 | €16,576 | +€1,566 | +10.4% |
| Profit (loss) for the period before taxes | 9903 | €16,117 | €29,262 | +€13,145 | +81.6% |
| Income taxes | 67/77 | €740 | €1,945 | +€1,205 | +163% |
| Profit (loss) for the period | 9904 | €15,377 | €27,317 | +€11,940 | +77.6% |
| Profit (loss) for the period to be appropriated | 9905 | €15,377 | €27,317 | +€11,940 | +77.6% |
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 17 October 2026 via checked.be.