BADR FAROUJ: 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 FAROUJ
Largest movements
- Cash -€152,278
down €152,278 (-68.3%), from €222,951 to €70,674
mainly Net result for the year (-€106,275) and Investment in fixed assets (net) (-€78,481)
- Receivables within one year -€72,080
down €72,080 (-14.6%), from €494,589 to €422,510
of which Trade receivables: -€77,919
- Tangible fixed assets +€34,081
up €34,081 (+5.9%), from €582,226 to €616,307
of which Plant, machinery and equipment: +€52,951
- Reserves -€106,275
down €106,275 (-25.8%), from €411,609 to €305,334
of which Distributable reserves: -€106,275
- Trade debts -€45,820
down €45,820 (-10.8%), from €424,628 to €378,807
- Current portion of long-term debt -€26,829
down €26,829 (-44.1%), from €60,846 to €34,017
- Debts after one year -€24,341
down €24,341 (-8.8%), from €276,672 to €252,331
- Tax, wage and social debts +€14,229
up €14,229 (+25.3%), from €56,211 to €70,440
of which Remuneration and social security: +€12,129
- Gross operating margin -€199,010
down €199,010 (-41.1%), from €484,689 to €285,679
- Depreciation -€38,189
down €38,189 (-46.2%), from €82,589 to €44,400
- Taxes -€19,952
no longer reported in 2025 (was €19,952)
- Staff costs +€9,737
up €9,737 (+3.0%), from €321,655 to €331,392
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 | €1,328,568 | €1,139,530 | -€189,039 | -14.2% |
| Fixed assets | 21/28 | €595,055 | €629,136 | +€34,081 | +5.7% |
| Tangible fixed assets | 22/27 | €582,226 | €616,307 | +€34,081 | +5.9% |
| Land and buildings | 22 | €478,212 | €463,295 | -€14,917 | -3.1% |
| Plant, machinery and equipment | 23 | €98,836 | €151,787 | +€52,951 | +53.6% |
| Furniture and vehicles | 24 | €5,178 | €1,224 | -€3,954 | -76.4% |
| Financial fixed assets | 28 | €12,829 | €12,829 | = | 0.0% |
| Current assets | 29/58 | €733,513 | €510,394 | -€223,119 | -30.4% |
| Stocks and contracts in progress | 3 | €15,973 | €16,533 | +€560 | +3.5% |
| Stocks | 30/36 | €15,973 | €16,533 | +€560 | +3.5% |
| Amounts receivable within one year | 40/41 | €494,589 | €422,510 | -€72,080 | -14.6% |
| Trade receivables | 40 | €470,203 | €392,285 | -€77,919 | -16.6% |
| Other amounts receivable | 41 | €24,386 | €30,225 | +€5,839 | +23.9% |
| Cash at bank and in hand | 54/58 | €222,951 | €70,674 | -€152,278 | -68.3% |
| Deferred charges and accrued income | 490/1 | - | €678 | +€678 | |
| Total equity and liabilities | 10/49 | €1,328,568 | €1,139,530 | -€189,039 | -14.2% |
| Equity | 10/15 | €471,609 | €365,334 | -€106,275 | -22.5% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Contributions outside capital | 11 | €60,000 | €60,000 | = | 0.0% |
| Other | 1109/19 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €411,609 | €305,334 | -€106,275 | -25.8% |
| Non-distributable reserves | 130/1 | €48,291 | €48,291 | = | 0.0% |
| Reserves not available under the articles | 1311 | €48,291 | €48,291 | = | 0.0% |
| Distributable reserves | 133 | €363,318 | €257,043 | -€106,275 | -29.3% |
| Amounts payable | 17/49 | €856,959 | €774,195 | -€82,764 | -9.7% |
| Amounts payable after more than one year | 17 | €276,672 | €252,331 | -€24,341 | -8.8% |
| Financial debts | 170/4 | €276,672 | €252,331 | -€24,341 | -8.8% |
| Amounts payable within one year | 42/48 | €580,287 | €521,864 | -€58,423 | -10.1% |
| Current portion of amounts payable after more than one year | 42 | €60,846 | €34,017 | -€26,829 | -44.1% |
| Financial debts | 43 | €37,138 | €36,100 | -€1,038 | -2.8% |
| Credit institutions | 430/8 | €37,138 | €36,100 | -€1,038 | -2.8% |
| Trade debts | 44 | €424,628 | €378,807 | -€45,820 | -10.8% |
| Suppliers | 440/4 | €424,628 | €378,807 | -€45,820 | -10.8% |
| Taxes, remuneration and social security | 45 | €56,211 | €70,440 | +€14,229 | +25.3% |
| Taxes | 450/3 | €522 | €2,623 | +€2,100 | +402% |
| Remuneration and social security | 454/9 | €55,689 | €67,817 | +€12,129 | +21.8% |
| Other amounts payable | 47/48 | €1,465 | €2,500 | +€1,035 | +70.6% |
| Remuneration, social security and pensions | 62 | €321,655 | €331,392 | +€9,737 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,589 | €44,400 | -€38,189 | -46.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,710 | €3,710 | = | 0.0% |
| Other operating charges | 640/8 | €3,500 | €3,339 | -€161 | -4.6% |
| Gross operating margin | 9900 | €484,689 | €285,679 | -€199,010 | -41.1% |
| Operating profit (loss) | 9901 | €73,235 | -€97,162 | -€170,397 | |
| Financial income | 75/76B | - | €12 | +€12 | |
| Recurring financial income | 75 | - | €12 | +€12 | |
| Financial charges | 65/66B | €10,992 | €9,125 | -€1,868 | -17.0% |
| Recurring financial charges | 65 | €10,992 | €9,125 | -€1,868 | -17.0% |
| Profit (loss) for the period before taxes | 9903 | €62,242 | -€106,275 | -€168,517 | |
| Income taxes | 67/77 | €19,952 | - | -€19,952 | |
| Profit (loss) for the period | 9904 | €42,291 | -€106,275 | -€148,566 | |
| Profit (loss) for the period to be appropriated | 9905 | €42,291 | -€106,275 | -€148,566 |
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 24 October 2026 via checked.be.