BANDHU: 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.
BANDHU
Largest movements
- Intangible fixed assets -€20,000
down €20,000 (-12.4%), from €161,205 to €141,205
- Receivables within one year -€9,062
no longer reported in 2025 (was €9,062)
of which Trade receivables: -€5,018
- Tangible fixed assets +€8,581
up €8,581 (+319%), from €2,688 to €11,269
of which Plant, machinery and equipment: +€8,641
- Deferred charges and accrued income -€6,865
down €6,865 (-98.7%), from €6,953 to €88
- Debts after one year -€107,034
down €107,034 (-26.1%), from €410,806 to €303,772
of which Financial debts: -€122,419
- Trade debts +€58,488
up €58,488 (+97.3%), from €60,136 to €118,624
- Profit (loss) carried forward +€19,733
up €19,733 (+35.5%), from €55,599 to €75,333
- Short-term financial debts +€12,869
up €12,869 (+39.2%), from €32,854 to €45,723
- Tax, wage and social debts -€8,686
down €8,686 (-9.5%), from €91,211 to €82,525
of which Remuneration and social security: -€18,872
- Staff costs -€35,898
down €35,898 (-10.8%), from €332,112 to €296,214
- Gross operating margin +€19,198
up €19,198 (+5.6%), from €345,293 to €364,490
- Financial charges +€9,000
up €9,000 (+112%), from €8,059 to €17,059
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 | €671,056 | €646,427 | -€24,629 | -3.7% |
| Fixed assets | 21/28 | €630,894 | €619,474 | -€11,419 | -1.8% |
| Intangible fixed assets | 21 | €161,205 | €141,205 | -€20,000 | -12.4% |
| Tangible fixed assets | 22/27 | €2,688 | €11,269 | +€8,581 | +319% |
| Plant, machinery and equipment | 23 | €1,404 | €10,045 | +€8,641 | +616% |
| Furniture and vehicles | 24 | €1,284 | €363 | -€921 | -71.7% |
| Other tangible fixed assets | 26 | - | €860 | +€860 | |
| Financial fixed assets | 28 | €467,000 | €467,000 | = | 0.0% |
| Current assets | 29/58 | €40,162 | €26,953 | -€13,210 | -32.9% |
| Stocks and contracts in progress | 3 | €21,375 | €20,220 | -€1,155 | -5.4% |
| Stocks | 30/36 | €21,375 | €20,220 | -€1,155 | -5.4% |
| Amounts receivable within one year | 40/41 | €9,062 | - | -€9,062 | |
| Trade receivables | 40 | €5,018 | - | -€5,018 | |
| Other amounts receivable | 41 | €4,045 | - | -€4,045 | |
| Cash at bank and in hand | 54/58 | €2,772 | €6,644 | +€3,872 | +140% |
| Deferred charges and accrued income | 490/1 | €6,953 | €88 | -€6,865 | -98.7% |
| Total equity and liabilities | 10/49 | €671,056 | €646,427 | -€24,629 | -3.7% |
| Equity | 10/15 | €76,050 | €95,784 | +€19,733 | +25.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,599 | €75,333 | +€19,733 | +35.5% |
| Amounts payable | 17/49 | €595,006 | €550,643 | -€44,363 | -7.5% |
| Amounts payable after more than one year | 17 | €410,806 | €303,772 | -€107,034 | -26.1% |
| Financial debts | 170/4 | €363,806 | €241,387 | -€122,419 | -33.6% |
| Other amounts payable | 178/9 | €47,000 | €62,385 | +€15,385 | +32.7% |
| Amounts payable within one year | 42/48 | €184,200 | €246,871 | +€62,671 | +34.0% |
| Financial debts | 43 | €32,854 | €45,723 | +€12,869 | +39.2% |
| Credit institutions | 430/8 | €32,854 | €45,723 | +€12,869 | +39.2% |
| Trade debts | 44 | €60,136 | €118,624 | +€58,488 | +97.3% |
| Suppliers | 440/4 | €60,136 | €118,624 | +€58,488 | +97.3% |
| Taxes, remuneration and social security | 45 | €91,211 | €82,525 | -€8,686 | -9.5% |
| Taxes | 450/3 | €25,848 | €36,035 | +€10,186 | +39.4% |
| Remuneration and social security | 454/9 | €65,362 | €46,490 | -€18,872 | -28.9% |
| Remuneration, social security and pensions | 62 | €332,112 | €296,214 | -€35,898 | -10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,252 | €23,114 | +€1,862 | +8.8% |
| Other operating charges | 640/8 | €4,895 | €6,513 | +€1,618 | +33.1% |
| Gross operating margin | 9900 | €345,293 | €364,490 | +€19,198 | +5.6% |
| Operating profit (loss) | 9901 | -€12,966 | €38,650 | +€51,615 | |
| Financial income | 75/76B | €164 | - | -€164 | |
| Recurring financial income | 75 | €164 | - | -€164 | |
| Financial charges | 65/66B | €8,059 | €17,059 | +€9,000 | +112% |
| Recurring financial charges | 65 | €8,059 | €17,059 | +€9,000 | +112% |
| Profit (loss) for the period before taxes | 9903 | -€20,861 | €21,591 | +€42,452 | |
| Income taxes | 67/77 | €632 | €1,858 | +€1,226 | +194% |
| Profit (loss) for the period | 9904 | -€21,493 | €19,733 | +€41,227 | |
| Profit (loss) for the period to be appropriated | 9905 | -€21,493 | €19,733 | +€41,227 |
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 21 October 2026 via checked.be.