BANDEMAN: 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.
BANDEMAN
Largest movements
- Tangible fixed assets -€54,795
down €54,795 (-17.8%), from €307,075 to €252,280
of which Land and buildings: -€54,687
- Current investments -€39,958
down €39,958 (-40.0%), from €100,000 to €60,042
- Cash +€22,167
up €22,167 (+43.2%), from €51,313 to €73,480
mainly Depreciation (+€54,795) and Current investments (+€39,958)
- Reserves -€69,636
down €69,636 (-23.5%), from €296,704 to €227,069
of which Distributable reserves: -€69,636
- Gross operating margin -€69,523
down €69,523 (-38.4%), from €180,939 to €111,415
- Other operating charges -€38,920
down €38,920 (-69.0%), from €56,443 to €17,524
- Taxes +€8,901
up €8,901 (+729.1%), from €1,221 to €10,121
- Staff costs -€7,334
down €7,334 (-100.0%), from €7,334 to €0
- Write-downs +€6,844
up €6,844, from -€6,844 to €0
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 | €464,190 | €394,196 | -€69,994 | -15.1% |
| Fixed assets | 21/28 | €307,075 | €252,280 | -€54,795 | -17.8% |
| Tangible fixed assets | 22/27 | €307,075 | €252,280 | -€54,795 | -17.8% |
| Land and buildings | 22 | €306,967 | €252,280 | -€54,687 | -17.8% |
| Plant, machinery and equipment | 23 | €108 | €0 | -€108 | -100.0% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €157,115 | €141,916 | -€15,199 | -9.7% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €5,284 | €3,388 | -€1,896 | -35.9% |
| Trade receivables | 40 | €0 | €3,388 | +€3,388 | |
| Other amounts receivable | 41 | €5,284 | €0 | -€5,284 | -100.0% |
| Current investments | 50/53 | €100,000 | €60,042 | -€39,958 | -40.0% |
| Cash at bank and in hand | 54/58 | €51,313 | €73,480 | +€22,167 | +43.2% |
| Deferred charges and accrued income | 490/1 | €518 | €5,005 | +€4,487 | +866.4% |
| Total equity and liabilities | 10/49 | €464,190 | €394,196 | -€69,994 | -15.1% |
| Equity | 10/15 | €358,204 | €288,569 | -€69,636 | -19.4% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €296,704 | €227,069 | -€69,636 | -23.5% |
| Non-distributable reserves | 130/1 | €21,688 | €21,688 | = | 0.0% |
| Legal reserve | 130 | €8,931 | €8,931 | = | 0.0% |
| Other | 1319 | €12,758 | €12,758 | = | 0.0% |
| Tax-exempt reserves | 132 | €63,437 | €63,437 | = | 0.0% |
| Distributable reserves | 133 | €211,579 | €141,943 | -€69,636 | -32.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €105,985 | €105,627 | -€358 | -0.3% |
| Amounts payable within one year | 42/48 | €102,985 | €102,627 | -€358 | -0.3% |
| Trade debts | 44 | €2,139 | €455 | -€1,683 | -78.7% |
| Suppliers | 440/4 | €2,139 | €455 | -€1,683 | -78.7% |
| Taxes, remuneration and social security | 45 | €847 | €2,172 | +€1,325 | +156.5% |
| Taxes | 450/3 | €847 | €2,172 | +€1,325 | +156.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €100,000 | €100,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €3,000 | €3,000 | = | 0.0% |
| Non-recurring operating income | 76A | €126,603 | €0 | -€126,603 | -100.0% |
| Remuneration, social security and pensions | 62 | €7,334 | €0 | -€7,334 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,648 | €54,795 | -€1,853 | -3.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€6,844 | €0 | +€6,844 | |
| Other operating charges | 640/8 | €56,443 | €17,524 | -€38,920 | -69.0% |
| Non-recurring operating charges | 66A | €838 | €0 | -€838 | -100.0% |
| Gross operating margin | 9900 | €180,939 | €111,415 | -€69,523 | -38.4% |
| Operating profit (loss) | 9901 | €66,520 | €39,097 | -€27,423 | -41.2% |
| Financial income | 75/76B | €5,026 | €1,755 | -€3,271 | -65.1% |
| Recurring financial income | 75 | €5,026 | €1,755 | -€3,271 | -65.1% |
| Financial charges | 65/66B | €423 | €366 | -€57 | -13.4% |
| Recurring financial charges | 65 | €423 | €366 | -€57 | -13.4% |
| Profit (loss) for the period before taxes | 9903 | €71,123 | €40,486 | -€30,637 | -43.1% |
| Income taxes | 67/77 | €1,221 | €10,121 | +€8,901 | +729.1% |
| Profit (loss) for the period | 9904 | €69,902 | €30,364 | -€39,538 | -56.6% |
| Profit (loss) for the period to be appropriated | 9905 | €69,902 | €30,364 | -€39,538 | -56.6% |
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 12 October 2026 via checked.be.