BARADI: 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.
BARADI
Largest movements
- Financial fixed assets +€281,603
up €281,603 (+13,227%), from €2,129 to €283,732
- Receivables within one year +€173,949
up €173,949 (+155%), from €112,497 to €286,446
of which Trade receivables: +€182,271
- Stocks and contracts +€98,872
up €98,872 (+53.5%), from €184,904 to €283,776
- Cash -€33,706
down €33,706 (-56.0%), from €60,170 to €26,464
mainly Investment in fixed assets (net) (-€315,527) and Receivables within one year (-€173,949)
- Intangible fixed assets +€24,000
new in 2026: €24,000
- Short-term financial debts +€250,000
new in 2026: €250,000
- Other debts +€212,569
new in 2026: €212,569
- Debts after one year +€130,647
up €130,647 (+794%), from €16,454 to €147,101
of which Financial debts: +€147,101
- Trade debts -€77,867
down €77,867 (-47.0%), from €165,794 to €87,927
- Current portion of long-term debt +€22,426
new in 2026: €22,426
- Financial income -€95,434
down €95,434 (-100.0%), from €95,456 to €22
of which Non-recurring financial income: -€95,456
- Other operating charges -€21,349
down €21,349 (-61.5%), from €34,716 to €13,367
- Gross operating margin +€16,902
up €16,902 (+4.4%), from €382,555 to €399,457
- Staff costs +€13,249
up €13,249 (+3.9%), from €337,265 to €350,514
- Financial charges +€9,438
up €9,438 (+186%), from €5,079 to €14,517
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €359,700 | €927,941 | +€568,241 | +158% |
| Fixed assets | 21/28 | €2,129 | €311,656 | +€309,527 | +14,539% |
| Intangible fixed assets | 21 | - | €24,000 | +€24,000 | |
| Tangible fixed assets | 22/27 | - | €3,924 | +€3,924 | |
| Furniture and vehicles | 24 | - | €3,924 | +€3,924 | |
| Financial fixed assets | 28 | €2,129 | €283,732 | +€281,603 | +13,227% |
| Current assets | 29/58 | €357,571 | €616,285 | +€258,714 | +72.4% |
| Stocks and contracts in progress | 3 | €184,904 | €283,776 | +€98,872 | +53.5% |
| Stocks | 30/36 | €184,904 | €283,776 | +€98,872 | +53.5% |
| Amounts receivable within one year | 40/41 | €112,497 | €286,446 | +€173,949 | +155% |
| Trade receivables | 40 | €103,105 | €285,376 | +€182,271 | +177% |
| Other amounts receivable | 41 | €9,392 | €1,070 | -€8,322 | -88.6% |
| Cash at bank and in hand | 54/58 | €60,170 | €26,464 | -€33,706 | -56.0% |
| Deferred charges and accrued income | 490/1 | - | €19,599 | +€19,599 | |
| Total equity and liabilities | 10/49 | €359,700 | €927,941 | +€568,241 | +158% |
| Equity | 10/15 | €85,560 | €103,366 | +€17,806 | +20.8% |
| Contributions | 10/11 | €108,584 | €108,584 | = | 0.0% |
| Capital | 10 | €108,584 | €108,584 | = | 0.0% |
| Issued capital | 100 | €108,584 | €108,584 | = | 0.0% |
| Reserves | 13 | €10,900 | €10,900 | = | 0.0% |
| Non-distributable reserves | 130/1 | - | €10,900 | +€10,900 | |
| Legal reserve | 130 | - | €10,900 | +€10,900 | |
| Distributable reserves | 133 | €10,900 | - | -€10,900 | |
| Profit (loss) carried forward | 14 | -€33,924 | -€16,118 | +€17,806 | +52.5% |
| Amounts payable | 17/49 | €274,140 | €824,575 | +€550,435 | +201% |
| Amounts payable after more than one year | 17 | €16,454 | €147,101 | +€130,647 | +794% |
| Financial debts | 170/4 | - | €147,101 | +€147,101 | |
| Other amounts payable | 178/9 | €16,454 | - | -€16,454 | |
| Amounts payable within one year | 42/48 | €257,686 | €671,875 | +€414,189 | +161% |
| Current portion of amounts payable after more than one year | 42 | - | €22,426 | +€22,426 | |
| Financial debts | 43 | - | €250,000 | +€250,000 | |
| Credit institutions | 430/8 | - | €250,000 | +€250,000 | |
| Trade debts | 44 | €165,794 | €87,927 | -€77,867 | -47.0% |
| Suppliers | 440/4 | €165,794 | €87,927 | -€77,867 | -47.0% |
| Taxes, remuneration and social security | 45 | €91,892 | €98,953 | +€7,061 | +7.7% |
| Taxes | 450/3 | €43,673 | €24,306 | -€19,367 | -44.3% |
| Remuneration and social security | 454/9 | €48,219 | €74,647 | +€26,428 | +54.8% |
| Other amounts payable | 47/48 | - | €212,569 | +€212,569 | |
| Accrued charges and deferred income | 492/3 | - | €5,599 | +€5,599 | |
| Remuneration, social security and pensions | 62 | €337,265 | €350,514 | +€13,249 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,873 | €6,000 | -€2,873 | -32.4% |
| Other operating charges | 640/8 | €34,716 | €13,367 | -€21,349 | -61.5% |
| Gross operating margin | 9900 | €382,555 | €399,457 | +€16,902 | +4.4% |
| Operating profit (loss) | 9901 | €1,701 | €29,576 | +€27,875 | +1,639% |
| Financial income | 75/76B | €95,456 | €22 | -€95,434 | -100.0% |
| Recurring financial income | 75 | €95,456 | €22 | -€95,434 | -100.0% |
| Non-recurring financial income | 76B | €95,456 | - | -€95,456 | |
| Financial charges | 65/66B | €5,079 | €14,517 | +€9,438 | +186% |
| Recurring financial charges | 65 | €5,079 | €14,517 | +€9,438 | +186% |
| Profit (loss) for the period before taxes | 9903 | €92,078 | €15,081 | -€76,997 | -83.6% |
| Income taxes | 67/77 | -€411 | - | +€411 | |
| Profit (loss) for the period | 9904 | €92,489 | €15,081 | -€77,408 | -83.7% |
| Profit (loss) for the period to be appropriated | 9905 | €92,489 | €15,081 | -€77,408 | -83.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.