Bardi: 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.
Bardi
Largest movements
- Current investments +€192,500
up €192,500 (+74.0%), from €260,000 to €452,500
- Financial fixed assets -€33,823
down €33,823 (-79.0%), from €42,823 to €9,000
- Cash -€32,285
down €32,285 (-42.5%), from €75,954 to €43,669
mainly Current investments (-€192,500) and Contributions, distributions and other (-€50,707)
- Reserves +€125,694
up €125,694 (+17.9%), from €702,195 to €827,889
- Debts after one year -€26,050
down €26,050 (-4.1%), from €636,381 to €610,331
- Other debts +€19,936
up €19,936 (+2,105%), from €947 to €20,883
- Financial income -€283,079
down €283,079 (-95.5%), from €296,383 to €13,304
- Gross operating margin +€215,955
up €215,955 (+252%), from €85,727 to €301,682
- Taxes +€22,166
up €22,166 (+60.3%), from €36,784 to €58,950
- Other operating charges +€20,091
up €20,091 (+467%), from €4,305 to €24,396
- Depreciation +€4,357
up €4,357 (+16.1%), from €27,017 to €31,373
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 | €1,365,929 | €1,488,145 | +€122,217 | +8.9% |
| Fixed assets | 21/28 | €1,007,816 | €968,868 | -€38,947 | -3.9% |
| Tangible fixed assets | 22/27 | €964,992 | €959,868 | -€5,124 | -0.5% |
| Plant, machinery and equipment | 23 | €2,469 | €2,297 | -€172 | -7.0% |
| Other tangible fixed assets | 26 | €962,523 | €957,571 | -€4,952 | -0.5% |
| Financial fixed assets | 28 | €42,823 | €9,000 | -€33,823 | -79.0% |
| Current assets | 29/58 | €358,113 | €519,277 | +€161,164 | +45.0% |
| Amounts receivable within one year | 40/41 | €19,628 | €19,628 | = | 0.0% |
| Trade receivables | 40 | €500 | €500 | = | 0.0% |
| Other amounts receivable | 41 | €19,128 | €19,128 | = | 0.0% |
| Current investments | 50/53 | €260,000 | €452,500 | +€192,500 | +74.0% |
| Cash at bank and in hand | 54/58 | €75,954 | €43,669 | -€32,285 | -42.5% |
| Deferred charges and accrued income | 490/1 | €2,531 | €3,480 | +€949 | +37.5% |
| Total equity and liabilities | 10/49 | €1,365,929 | €1,488,145 | +€122,217 | +8.9% |
| Equity | 10/15 | €702,195 | €827,889 | +€125,694 | +17.9% |
| Reserves | 13 | €702,195 | €827,889 | +€125,694 | +17.9% |
| Distributable reserves | 133 | €702,195 | €827,889 | +€125,694 | +17.9% |
| Amounts payable | 17/49 | €663,734 | €660,256 | -€3,477 | -0.5% |
| Amounts payable after more than one year | 17 | €636,381 | €610,331 | -€26,050 | -4.1% |
| Financial debts | 170/4 | €636,381 | €610,331 | -€26,050 | -4.1% |
| Amounts payable within one year | 42/48 | €27,353 | €49,926 | +€22,573 | +82.5% |
| Current portion of amounts payable after more than one year | 42 | €25,226 | €26,050 | +€824 | +3.3% |
| Trade debts | 44 | €384 | €835 | +€452 | +118% |
| Suppliers | 440/4 | €384 | €835 | +€452 | +118% |
| Taxes, remuneration and social security | 45 | €797 | €2,157 | +€1,361 | +171% |
| Taxes | 450/3 | €797 | €2,157 | +€1,361 | +171% |
| Other amounts payable | 47/48 | €947 | €20,883 | +€19,936 | +2,105% |
| Remuneration, social security and pensions | 62 | €2,016 | €2,266 | +€250 | +12.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,017 | €31,373 | +€4,357 | +16.1% |
| Other operating charges | 640/8 | €4,305 | €24,396 | +€20,091 | +467% |
| Gross operating margin | 9900 | €85,727 | €301,682 | +€215,955 | +252% |
| Operating profit (loss) | 9901 | €52,389 | €243,646 | +€191,257 | +365% |
| Financial income | 75/76B | €296,383 | €13,304 | -€283,079 | -95.5% |
| Recurring financial income | 75 | €296,383 | €13,304 | -€283,079 | -95.5% |
| Financial charges | 65/66B | €17,301 | €21,599 | +€4,298 | +24.8% |
| Recurring financial charges | 65 | €17,301 | €21,599 | +€4,298 | +24.8% |
| Profit (loss) for the period before taxes | 9903 | €331,471 | €235,351 | -€96,120 | -29.0% |
| Income taxes | 67/77 | €36,784 | €58,950 | +€22,166 | +60.3% |
| Profit (loss) for the period | 9904 | €294,687 | €176,401 | -€118,286 | -40.1% |
| Profit (loss) for the period to be appropriated | 9905 | €294,687 | €176,401 | -€118,286 | -40.1% |
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 29 October 2026 via checked.be.