BARDIBEL: 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.
BARDIBEL
Largest movements
- Cash -€44,499
down €44,499 (-76.6%), from €58,072 to €13,574
mainly Debts after one year (-€77,973) and Investment in fixed assets (net) (-€61,716)
- Tangible fixed assets -€24,481
down €24,481 (-1.3%), from €2.0m to €1.9m
of which Land and buildings: -€16,402
- Debts after one year -€77,973
down €77,973 (-4.9%), from €1.6m to €1.5m
of which Financial debts: -€78,303
- Current portion of long-term debt +€48,902
up €48,902 (+60.3%), from €81,037 to €129,940
- Other debts -€26,602
no longer reported in 2025 (was €26,602)
- Gross operating margin -€122,480
down €122,480 (-42.7%), from €286,894 to €164,414
- Financial charges +€11,171
up €11,171 (+22.7%), from €49,133 to €60,304
- Depreciation +€8,552
up €8,552 (+11.0%), from €77,646 to €86,197
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 | €2,010,530 | €1,961,305 | -€49,225 | -2.4% |
| Fixed assets | 21/28 | €1,952,458 | €1,927,977 | -€24,481 | -1.3% |
| Tangible fixed assets | 22/27 | €1,952,308 | €1,927,827 | -€24,481 | -1.3% |
| Land and buildings | 22 | €1,934,213 | €1,917,812 | -€16,402 | -0.8% |
| Furniture and vehicles | 24 | €18,095 | €10,015 | -€8,079 | -44.6% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €58,072 | €33,328 | -€24,744 | -42.6% |
| Amounts receivable within one year | 40/41 | - | €19,754 | +€19,754 | |
| Trade receivables | 40 | - | €424 | +€424 | |
| Other amounts receivable | 41 | - | €19,331 | +€19,331 | |
| Cash at bank and in hand | 54/58 | €58,072 | €13,574 | -€44,499 | -76.6% |
| Total equity and liabilities | 10/49 | €2,010,530 | €1,961,305 | -€49,225 | -2.4% |
| Equity | 10/15 | €263,894 | €269,751 | +€5,857 | +2.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | €12,400 | €12,400 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €114,115 | €105,115 | -€9,000 | -7.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €112,255 | €103,255 | -€9,000 | -8.0% |
| Profit (loss) carried forward | 14 | €137,379 | €152,236 | +€14,857 | +10.8% |
| Provisions and deferred taxes | 16 | €31,502 | €29,252 | -€2,250 | -7.1% |
| Deferred taxes | 168 | €31,502 | €29,252 | -€2,250 | -7.1% |
| Amounts payable | 17/49 | €1,715,134 | €1,662,302 | -€52,832 | -3.1% |
| Amounts payable after more than one year | 17 | €1,600,069 | €1,522,095 | -€77,973 | -4.9% |
| Financial debts | 170/4 | €1,591,343 | €1,513,040 | -€78,303 | -4.9% |
| Other amounts payable | 178/9 | €8,725 | €9,055 | +€330 | +3.8% |
| Amounts payable within one year | 42/48 | €115,066 | €140,207 | +€25,142 | +21.8% |
| Current portion of amounts payable after more than one year | 42 | €81,037 | €129,940 | +€48,902 | +60.3% |
| Trade debts | 44 | €1,612 | €1,836 | +€223 | +13.8% |
| Suppliers | 440/4 | €1,612 | €1,836 | +€223 | +13.8% |
| Taxes, remuneration and social security | 45 | €5,814 | €8,432 | +€2,618 | +45.0% |
| Taxes | 450/3 | €5,814 | €8,432 | +€2,618 | +45.0% |
| Other amounts payable | 47/48 | €26,602 | - | -€26,602 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,646 | €86,197 | +€8,552 | +11.0% |
| Other operating charges | 640/8 | €12,737 | €9,978 | -€2,759 | -21.7% |
| Non-recurring operating charges | 66A | - | €2,500 | +€2,500 | |
| Gross operating margin | 9900 | €286,894 | €164,414 | -€122,480 | -42.7% |
| Operating profit (loss) | 9901 | €196,511 | €65,739 | -€130,772 | -66.5% |
| Financial income | 75/76B | - | €6 | +€6 | |
| Recurring financial income | 75 | - | €6 | +€6 | |
| Financial charges | 65/66B | €49,133 | €60,304 | +€11,171 | +22.7% |
| Recurring financial charges | 65 | €49,133 | €60,304 | +€11,171 | +22.7% |
| Profit (loss) for the period before taxes | 9903 | €147,378 | €5,441 | -€141,938 | -96.3% |
| Transfer from deferred taxes | 780 | €2,250 | €2,250 | = | 0.0% |
| Transfer to deferred taxes | 680 | €33,752 | - | -€33,752 | |
| Income taxes | 67/77 | €2,110 | €1,834 | -€276 | -13.1% |
| Profit (loss) for the period | 9904 | €113,766 | €5,857 | -€107,910 | -94.9% |
| Transfer from tax-exempt reserves | 789 | €9,000 | €9,000 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €121,255 | - | -€121,255 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,511 | €14,857 | +€13,346 | +883.2% |
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 9 October 2026 via checked.be.