BANDORA: 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.
BANDORA
Largest movements
- Cash -€10,085
down €10,085 (-55.2%), from €18,277 to €8,192
mainly Stocks and contracts (-€7,863) and Trade debts (-€7,513)
- Stocks and contracts +€7,863
up €7,863 (+21.9%), from €35,971 to €43,834
- Receivables within one year -€5,312
down €5,312 (-9.2%), from €57,695 to €52,383
of which Trade receivables: -€4,339
- Tangible fixed assets -€5,285
down €5,285 (-28.7%), from €18,415 to €13,130
of which Plant, machinery and equipment: -€4,072
- Trade debts -€7,513
down €7,513 (-12.1%), from €62,067 to €54,554
- Other debts +€4,349
up €4,349 (+7.7%), from €56,166 to €60,515
- Profit (loss) carried forward -€3,864
down €3,864 (-6.5%), from -€59,085 to -€62,949
- Tax, wage and social debts -€2,948
down €2,948 (-12.8%), from €23,103 to €20,155
of which Taxes: -€5,639
- Current portion of long-term debt -€2,818
no longer reported in 2025 (was €2,818)
- Gross operating margin -€24,786
down €24,786 (-27.1%), from €91,393 to €66,607
- Staff costs -€12,942
down €12,942 (-17.4%), from €74,253 to €61,311
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 | €131,068 | €118,275 | -€12,793 | -9.8% |
| Fixed assets | 21/28 | €18,465 | €13,180 | -€5,285 | -28.6% |
| Tangible fixed assets | 22/27 | €18,415 | €13,130 | -€5,285 | -28.7% |
| Plant, machinery and equipment | 23 | €12,735 | €8,663 | -€4,072 | -32.0% |
| Other tangible fixed assets | 26 | €5,680 | €4,467 | -€1,213 | -21.4% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €112,603 | €105,095 | -€7,508 | -6.7% |
| Stocks and contracts in progress | 3 | €35,971 | €43,834 | +€7,863 | +21.9% |
| Stocks | 30/36 | €35,971 | €43,834 | +€7,863 | +21.9% |
| Amounts receivable within one year | 40/41 | €57,695 | €52,383 | -€5,312 | -9.2% |
| Trade receivables | 40 | €55,653 | €51,315 | -€4,339 | -7.8% |
| Other amounts receivable | 41 | €2,042 | €1,068 | -€974 | -47.7% |
| Cash at bank and in hand | 54/58 | €18,277 | €8,192 | -€10,085 | -55.2% |
| Deferred charges and accrued income | 490/1 | €660 | €685 | +€25 | +3.9% |
| Total equity and liabilities | 10/49 | €131,068 | €118,275 | -€12,793 | -9.8% |
| Equity | 10/15 | -€53,085 | -€56,949 | -€3,864 | -7.3% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€59,085 | -€62,949 | -€3,864 | -6.5% |
| Amounts payable | 17/49 | €184,153 | €175,224 | -€8,929 | -4.8% |
| Amounts payable after more than one year | 17 | €40,000 | €40,000 | = | 0.0% |
| Financial debts | 170/4 | €40,000 | €40,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €144,153 | €135,224 | -€8,929 | -6.2% |
| Current portion of amounts payable after more than one year | 42 | €2,818 | - | -€2,818 | |
| Trade debts | 44 | €62,067 | €54,554 | -€7,513 | -12.1% |
| Suppliers | 440/4 | €62,067 | €54,554 | -€7,513 | -12.1% |
| Taxes, remuneration and social security | 45 | €23,103 | €20,155 | -€2,948 | -12.8% |
| Taxes | 450/3 | €10,445 | €4,806 | -€5,639 | -54.0% |
| Remuneration and social security | 454/9 | €12,657 | €15,348 | +€2,691 | +21.3% |
| Other amounts payable | 47/48 | €56,166 | €60,515 | +€4,349 | +7.7% |
| Remuneration, social security and pensions | 62 | €74,253 | €61,311 | -€12,942 | -17.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,422 | €5,285 | -€137 | -2.5% |
| Other operating charges | 640/8 | €384 | €400 | +€15 | +4.0% |
| Gross operating margin | 9900 | €91,393 | €66,607 | -€24,786 | -27.1% |
| Operating profit (loss) | 9901 | €11,333 | -€389 | -€11,722 | |
| Financial income | 75/76B | €11 | €3 | -€8 | -72.7% |
| Recurring financial income | 75 | €11 | €3 | -€8 | -72.7% |
| Financial charges | 65/66B | €4,140 | €3,478 | -€662 | -16.0% |
| Recurring financial charges | 65 | €4,140 | €3,478 | -€662 | -16.0% |
| Profit (loss) for the period before taxes | 9903 | €7,205 | -€3,864 | -€11,069 | |
| Profit (loss) for the period | 9904 | €7,205 | -€3,864 | -€11,069 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,205 | -€3,864 | -€11,069 |
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 4 October 2026 via checked.be.