BALADI: 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.
BALADI
Largest movements
- Cash +€61,772
up €61,772 (+70.3%), from €87,837 to €149,610
mainly Receivables within one year (+€54,476) and Net result for the year (+€49,243)
- Receivables within one year -€54,476
down €54,476 (-64.6%), from €84,351 to €29,875
- Stocks and contracts +€7,120
up €7,120 (+198%), from €3,598 to €10,718
of which Stocks: +€10,718
- Profit (loss) carried forward +€49,243
up €49,243 (+50.7%), from €97,167 to €146,410
- Trade debts -€41,490
no longer reported in 2025 (was €41,490)
- Tax, wage and social debts +€12,777
up €12,777 (+24.1%), from €52,993 to €65,770
of which Taxes: +€8,680
- Other debts -€6,109
no longer reported in 2025 (was €6,109)
- Turnover -€647,156
no longer reported in 2025 (was €647,156)
- Purchases and services -€527,496
no longer reported in 2025 (was €527,496)
- Gross operating margin +€26,561
up €26,561 (+22.2%), from €119,661 to €146,221
- Staff costs -€18,480
down €18,480 (-19.5%), from €94,779 to €76,299
- Taxes +€14,565
up €14,565 (+363%), from €4,012 to €18,577
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 | €218,219 | €232,640 | +€14,420 | +6.6% |
| Fixed assets | 21/28 | €42,433 | €42,437 | +€4 | 0.0% |
| Tangible fixed assets | 22/27 | €42,433 | €42,433 | = | 0.0% |
| Plant, machinery and equipment | 23 | €40,433 | €40,433 | = | 0.0% |
| Furniture and vehicles | 24 | €2,000 | €2,000 | = | 0.0% |
| Financial fixed assets | 28 | - | €4 | +€4 | |
| Current assets | 29/58 | €175,786 | €190,203 | +€14,417 | +8.2% |
| Stocks and contracts in progress | 3 | €3,598 | €10,718 | +€7,120 | +198% |
| Stocks | 30/36 | - | €10,718 | +€10,718 | |
| Contracts in progress | 37 | €3,598 | - | -€3,598 | |
| Amounts receivable within one year | 40/41 | €84,351 | €29,875 | -€54,476 | -64.6% |
| Other amounts receivable | 41 | €84,351 | €29,875 | -€54,476 | -64.6% |
| Cash at bank and in hand | 54/58 | €87,837 | €149,610 | +€61,772 | +70.3% |
| Total equity and liabilities | 10/49 | €218,219 | €232,640 | +€14,420 | +6.6% |
| Equity | 10/15 | €117,627 | €166,870 | +€49,243 | +41.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €97,167 | €146,410 | +€49,243 | +50.7% |
| Amounts payable | 17/49 | €100,592 | €65,770 | -€34,823 | -34.6% |
| Amounts payable within one year | 42/48 | €100,592 | €65,770 | -€34,823 | -34.6% |
| Trade debts | 44 | €41,490 | - | -€41,490 | |
| Suppliers | 440/4 | €41,490 | - | -€41,490 | |
| Taxes, remuneration and social security | 45 | €52,993 | €65,770 | +€12,777 | +24.1% |
| Taxes | 450/3 | €14,473 | €23,153 | +€8,680 | +60.0% |
| Remuneration and social security | 454/9 | €38,520 | €42,617 | +€4,097 | +10.6% |
| Other amounts payable | 47/48 | €6,109 | - | -€6,109 | |
| Turnover | 70 | €647,156 | - | -€647,156 | |
| Goods, raw materials, services and sundry goods | 60/61 | €527,496 | - | -€527,496 | |
| Remuneration, social security and pensions | 62 | €94,779 | €76,299 | -€18,480 | -19.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,721 | - | -€9,721 | |
| Other operating charges | 640/8 | €1,103 | €2,223 | +€1,121 | +102% |
| Gross operating margin | 9900 | €119,661 | €146,221 | +€26,561 | +22.2% |
| Operating profit (loss) | 9901 | €14,057 | €67,699 | +€53,642 | +382% |
| Financial income | 75/76B | €4,705 | - | -€4,705 | |
| Recurring financial income | 75 | €4,705 | - | -€4,705 | |
| Financial charges | 65/66B | €370 | -€121 | -€491 | |
| Recurring financial charges | 65 | €370 | -€121 | -€491 | |
| Profit (loss) for the period before taxes | 9903 | €18,392 | €67,820 | +€49,428 | +269% |
| Income taxes | 67/77 | €4,012 | €18,577 | +€14,565 | +363% |
| Profit (loss) for the period | 9904 | €14,380 | €49,243 | +€34,863 | +242% |
| Profit (loss) for the period to be appropriated | 9905 | €14,380 | €49,243 | +€34,863 | +242% |
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 19 October 2026 via checked.be.