Bads.S: 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.
Bads.S
Largest movements
- Tangible fixed assets +€28,230
up €28,230 (+72.2%), from €39,121 to €67,351
of which Furniture and vehicles: +€31,740
- Cash +€27,712
up €27,712 (+284.6%), from €9,737 to €37,449
mainly Debts after one year (+€25,591) and Net result for the year (+€20,402)
- Receivables within one year -€7,692
down €7,692 (-56.1%), from €13,702 to €6,010
of which Trade receivables: -€11,414
- Deferred charges and accrued income +€1,768
up €1,768 (+135.5%), from €1,305 to €3,073
- Debts after one year +€25,591
up €25,591, from €0 to €25,591
- Reserves +€18,182
up €18,182 (+37.4%), from €48,600 to €66,782
- Current portion of long-term debt +€3,517
up €3,517 (+64.3%), from €5,468 to €8,985
- Other debts +€1,644
up €1,644 (+66.1%), from €2,486 to €4,130
- Trade debts +€1,394
up €1,394 (+330.1%), from €422 to €1,816
- Gross operating margin +€5,947
up €5,947 (+16.8%), from €35,324 to €41,271
- Depreciation -€3,554
down €3,554 (-22.9%), from €15,510 to €11,956
- Taxes +€2,026
up €2,026 (+38.0%), from €5,337 to €7,363
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 | €64,165 | €114,183 | +€50,019 | +78.0% |
| Fixed assets | 21/28 | €39,421 | €67,651 | +€28,230 | +71.6% |
| Tangible fixed assets | 22/27 | €39,121 | €67,351 | +€28,230 | +72.2% |
| Plant, machinery and equipment | 23 | €137 | €7 | -€130 | -95.0% |
| Furniture and vehicles | 24 | €8,256 | €39,996 | +€31,740 | +384.5% |
| Other tangible fixed assets | 26 | €30,728 | €27,348 | -€3,380 | -11.0% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €24,744 | €46,533 | +€21,789 | +88.1% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €13,702 | €6,010 | -€7,692 | -56.1% |
| Trade receivables | 40 | €11,939 | €525 | -€11,414 | -95.6% |
| Other amounts receivable | 41 | €1,763 | €5,485 | +€3,722 | +211.1% |
| Cash at bank and in hand | 54/58 | €9,737 | €37,449 | +€27,712 | +284.6% |
| Deferred charges and accrued income | 490/1 | €1,305 | €3,073 | +€1,768 | +135.5% |
| Total equity and liabilities | 10/49 | €64,165 | €114,183 | +€50,019 | +78.0% |
| Equity | 10/15 | €53,600 | €71,782 | +€18,182 | +33.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €48,600 | €66,782 | +€18,182 | +37.4% |
| Distributable reserves | 133 | €48,600 | €66,782 | +€18,182 | +37.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €10,565 | €42,402 | +€31,837 | +301.4% |
| Amounts payable after more than one year | 17 | €0 | €25,591 | +€25,591 | |
| Financial debts | 170/4 | €0 | €25,591 | +€25,591 | |
| Amounts payable within one year | 42/48 | €10,565 | €16,294 | +€5,730 | +54.2% |
| Current portion of amounts payable after more than one year | 42 | €5,468 | €8,985 | +€3,517 | +64.3% |
| Trade debts | 44 | €422 | €1,816 | +€1,394 | +330.1% |
| Suppliers | 440/4 | €422 | €1,816 | +€1,394 | +330.1% |
| Taxes, remuneration and social security | 45 | €2,188 | €1,363 | -€825 | -37.7% |
| Taxes | 450/3 | €7 | €1,363 | +€1,356 | +18519.9% |
| Remuneration and social security | 454/9 | €2,180 | €0 | -€2,180 | -100.0% |
| Other amounts payable | 47/48 | €2,486 | €4,130 | +€1,644 | +66.1% |
| Accrued charges and deferred income | 492/3 | €0 | €517 | +€517 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,510 | €11,956 | -€3,554 | -22.9% |
| Other operating charges | 640/8 | €982 | €731 | -€251 | -25.5% |
| Gross operating margin | 9900 | €35,324 | €41,271 | +€5,947 | +16.8% |
| Operating profit (loss) | 9901 | €18,832 | €28,584 | +€9,752 | +51.8% |
| Financial income | 75/76B | €20 | €0 | -€20 | -98.5% |
| Recurring financial income | 75 | €20 | €0 | -€20 | -98.5% |
| Financial charges | 65/66B | €648 | €820 | +€172 | +26.5% |
| Recurring financial charges | 65 | €648 | €820 | +€172 | +26.5% |
| Profit (loss) for the period before taxes | 9903 | €18,204 | €27,764 | +€9,560 | +52.5% |
| Income taxes | 67/77 | €5,337 | €7,363 | +€2,026 | +38.0% |
| Profit (loss) for the period | 9904 | €12,868 | €20,402 | +€7,534 | +58.6% |
| Profit (loss) for the period to be appropriated | 9905 | €12,868 | €20,402 | +€7,534 | +58.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.