BADR: 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.
BADR
Largest movements
- Cash +€78,849
up €78,849 (+4.5%), from €1.8m to €1.8m
mainly Depreciation (+€98,321) and Net result for the year (+€76,203)
- Receivables within one year +€43,510
up €43,510 (+13,205%), from €330 to €43,840
of which Trade receivables: +€37,252
- Stocks and contracts +€34,334
up €34,334 (+34.4%), from €99,705 to €134,039
- Tangible fixed assets -€28,643
down €28,643 (-5.7%), from €502,586 to €473,943
of which Other tangible fixed assets: -€31,064
- Reserves -€843,005
down €843,005 (-51.5%), from €1.6m to €794,961
of which Distributable reserves: -€1.1m
- Profit (loss) carried forward +€469,208
up €469,208 (+193%), from €242,603 to €711,812
- Contributions +€450,000
new in 2025: €450,000
- Gross operating margin -€170,324
down €170,324 (-19.3%), from €882,723 to €712,399
- Taxes -€74,663
down €74,663 (-97.0%), from €77,003 to €2,340
- Staff costs +€64,564
up €64,564 (+15.2%), from €425,072 to €489,636
- Financial income -€39,428
down €39,428 (-100.0%), from €39,432 to €4
- Other operating charges -€13,580
down €13,580 (-62.0%), from €21,911 to €8,330
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 | €2,423,373 | €2,523,934 | +€100,561 | +4.1% |
| Fixed assets | 21/28 | €536,486 | €505,368 | -€31,118 | -5.8% |
| Intangible fixed assets | 21 | €9,900 | €7,425 | -€2,475 | -25.0% |
| Tangible fixed assets | 22/27 | €502,586 | €473,943 | -€28,643 | -5.7% |
| Land and buildings | 22 | €287,500 | €262,517 | -€24,983 | -8.7% |
| Plant, machinery and equipment | 23 | €89,565 | €125,089 | +€35,524 | +39.7% |
| Furniture and vehicles | 24 | €45,334 | €37,215 | -€8,120 | -17.9% |
| Other tangible fixed assets | 26 | €80,186 | €49,122 | -€31,064 | -38.7% |
| Financial fixed assets | 28 | €24,000 | €24,000 | = | 0.0% |
| Current assets | 29/58 | €1,886,887 | €2,018,566 | +€131,679 | +7.0% |
| Stocks and contracts in progress | 3 | €99,705 | €134,039 | +€34,334 | +34.4% |
| Stocks | 30/36 | €99,705 | €134,039 | +€34,334 | +34.4% |
| Amounts receivable within one year | 40/41 | €330 | €43,840 | +€43,510 | +13,205% |
| Trade receivables | 40 | €330 | €37,581 | +€37,252 | +11,305% |
| Other amounts receivable | 41 | - | €6,258 | +€6,258 | |
| Cash at bank and in hand | 54/58 | €1,761,838 | €1,840,687 | +€78,849 | +4.5% |
| Deferred charges and accrued income | 490/1 | €25,014 | - | -€25,014 | |
| Total equity and liabilities | 10/49 | €2,423,373 | €2,523,934 | +€100,561 | +4.1% |
| Equity | 10/15 | €1,880,569 | €1,956,772 | +€76,203 | +4.1% |
| Contributions | 10/11 | - | €450,000 | +€450,000 | |
| Reserves | 13 | €1,637,966 | €794,961 | -€843,005 | -51.5% |
| Non-distributable reserves | 130/1 | €495,000 | €794,961 | +€299,961 | +60.6% |
| Reserves not available under the articles | 1311 | €495,000 | €794,961 | +€299,961 | +60.6% |
| Distributable reserves | 133 | €1,142,966 | - | -€1.1m | |
| Profit (loss) carried forward | 14 | €242,603 | €711,812 | +€469,208 | +193% |
| Amounts payable | 17/49 | €542,804 | €567,161 | +€24,358 | +4.5% |
| Amounts payable within one year | 42/48 | €542,804 | €567,161 | +€24,358 | +4.5% |
| Trade debts | 44 | €416,826 | €426,148 | +€9,322 | +2.2% |
| Suppliers | 440/4 | €416,826 | €426,148 | +€9,322 | +2.2% |
| Taxes, remuneration and social security | 45 | €125,978 | €141,013 | +€15,036 | +11.9% |
| Taxes | 450/3 | €10,568 | €12,072 | +€1,504 | +14.2% |
| Remuneration and social security | 454/9 | €115,410 | €128,942 | +€13,532 | +11.7% |
| Non-recurring operating income | 76A | - | €4,473 | +€4,473 | |
| Remuneration, social security and pensions | 62 | €425,072 | €489,636 | +€64,564 | +15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €111,691 | €98,321 | -€13,370 | -12.0% |
| Other operating charges | 640/8 | €21,911 | €8,330 | -€13,580 | -62.0% |
| Gross operating margin | 9900 | €882,723 | €712,399 | -€170,324 | -19.3% |
| Operating profit (loss) | 9901 | €324,049 | €116,111 | -€207,937 | -64.2% |
| Financial income | 75/76B | €39,432 | €4 | -€39,428 | -100.0% |
| Recurring financial income | 75 | €39,432 | €4 | -€39,428 | -100.0% |
| Financial charges | 65/66B | €43,874 | €37,572 | -€6,302 | -14.4% |
| Recurring financial charges | 65 | €34,660 | €37,572 | +€2,912 | +8.4% |
| Non-recurring financial charges | 66B | €9,215 | - | -€9,215 | |
| Profit (loss) for the period before taxes | 9903 | €319,607 | €78,543 | -€241,063 | -75.4% |
| Income taxes | 67/77 | €77,003 | €2,340 | -€74,663 | -97.0% |
| Profit (loss) for the period | 9904 | €242,603 | €76,203 | -€166,400 | -68.6% |
| Profit (loss) for the period to be appropriated | 9905 | €242,603 | €76,203 | -€166,400 | -68.6% |
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.