BADR ML: 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.
BADR ML
Largest movements
- Stocks and contracts +€13,410
up €13,410 (+129.6%), from €10,349 to €23,759
- Tangible fixed assets -€12,003
down €12,003 (-46.3%), from €25,942 to €13,940
of which Furniture and vehicles: -€11,702
- Receivables within one year -€6,346
down €6,346 (-69.3%), from €9,156 to €2,810
- Cash +€1,235
up €1,235 (+10.6%), from €11,648 to €12,882
mainly Depreciation (+€12,003) and Receivables within one year (+€6,346)
- Profit (loss) carried forward -€7,423
down €7,423, from €658 to -€6,765
- Trade debts +€2,898
up €2,898 (+10.9%), from €26,525 to €29,423
- Tax, wage and social debts +€821
up €821 (+113.7%), from €723 to €1,544
- Staff costs +€19,922
new in 2025: €19,922
- Gross operating margin +€15,465
up €15,465 (+69.0%), from €22,417 to €37,882
- Taxes -€14,049
down €14,049 (-69.9%), from €20,111 to €6,062
- Other operating charges +€4,873
up €4,873 (+206.2%), from €2,363 to €7,236
- Depreciation -€3,998
down €3,998 (-25.0%), from €16,000 to €12,003
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €68,336 | €64,632 | -€3,704 | -5.4% |
| Fixed assets | 21/28 | €37,183 | €25,180 | -€12,003 | -32.3% |
| Intangible fixed assets | 21 | €2,241 | €2,241 | = | 0.0% |
| Tangible fixed assets | 22/27 | €25,942 | €13,940 | -€12,003 | -46.3% |
| Plant, machinery and equipment | 23 | €301 | - | -€301 | |
| Furniture and vehicles | 24 | €25,642 | €13,940 | -€11,702 | -45.6% |
| Financial fixed assets | 28 | €9,000 | €9,000 | = | 0.0% |
| Current assets | 29/58 | €31,153 | €39,451 | +€8,299 | +26.6% |
| Stocks and contracts in progress | 3 | €10,349 | €23,759 | +€13,410 | +129.6% |
| Stocks | 30/36 | €10,349 | €23,759 | +€13,410 | +129.6% |
| Amounts receivable within one year | 40/41 | €9,156 | €2,810 | -€6,346 | -69.3% |
| Other amounts receivable | 41 | €9,156 | €2,810 | -€6,346 | -69.3% |
| Cash at bank and in hand | 54/58 | €11,648 | €12,882 | +€1,235 | +10.6% |
| Total equity and liabilities | 10/49 | €68,336 | €64,632 | -€3,704 | -5.4% |
| Equity | 10/15 | €30,658 | €23,235 | -€7,423 | -24.2% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €658 | -€6,765 | -€7,423 | |
| Amounts payable | 17/49 | €37,678 | €41,397 | +€3,719 | +9.9% |
| Amounts payable within one year | 42/48 | €37,678 | €41,397 | +€3,719 | +9.9% |
| Trade debts | 44 | €26,525 | €29,423 | +€2,898 | +10.9% |
| Suppliers | 440/4 | €26,525 | €29,423 | +€2,898 | +10.9% |
| Taxes, remuneration and social security | 45 | €723 | €1,544 | +€821 | +113.7% |
| Taxes | 450/3 | €723 | €1,544 | +€821 | +113.7% |
| Other amounts payable | 47/48 | €10,430 | €10,430 | = | 0.0% |
| Remuneration, social security and pensions | 62 | - | €19,922 | +€19,922 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,000 | €12,003 | -€3,998 | -25.0% |
| Other operating charges | 640/8 | €2,363 | €7,236 | +€4,873 | +206.2% |
| Gross operating margin | 9900 | €22,417 | €37,882 | +€15,465 | +69.0% |
| Operating profit (loss) | 9901 | €4,054 | -€1,279 | -€5,333 | |
| Financial charges | 65/66B | €59 | €83 | +€24 | +41.6% |
| Recurring financial charges | 65 | €59 | €83 | +€24 | +41.6% |
| Profit (loss) for the period before taxes | 9903 | €3,996 | -€1,361 | -€5,357 | |
| Income taxes | 67/77 | €20,111 | €6,062 | -€14,049 | -69.9% |
| Profit (loss) for the period | 9904 | -€16,115 | -€7,423 | +€8,692 | +53.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,115 | -€7,423 | +€8,692 | +53.9% |
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.