BEDACO: 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.
BEDACO
Largest movements
- Receivables within one year -€7,538
down €7,538 (-30.9%), from €24,399 to €16,861
of which Trade receivables: -€4,962
- Cash -€4,993
down €4,993 (-10.4%), from €47,810 to €42,817
mainly Investment in fixed assets (net) (-€20,526) and Contributions, distributions and other (-€17,143)
- Tangible fixed assets +€1,211
up €1,211 (+2.9%), from €41,238 to €42,449
of which Plant, machinery and equipment: +€12,080
- Current portion of long-term debt -€4,928
down €4,928 (-74.8%), from €6,589 to €1,662
- Profit (loss) carried forward -€3,592
down €3,592 (-5.7%), from €62,671 to €59,079
- Other debts -€3,332
down €3,332 (-21.0%), from €15,848 to €12,516
- Trade debts +€2,205
up €2,205 (+105%), from €2,100 to €4,305
- Debts after one year -€1,662
no longer reported in 2025 (was €1,662)
- Gross operating margin -€6,292
down €6,292 (-13.4%), from €46,836 to €40,544
- Depreciation +€1,704
up €1,704 (+9.7%), from €17,611 to €19,315
- Taxes -€1,256
down €1,256 (-17.3%), from €7,277 to €6,021
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 | €114,464 | €103,177 | -€11,287 | -9.9% |
| Fixed assets | 21/28 | €41,287 | €42,497 | +€1,211 | +2.9% |
| Tangible fixed assets | 22/27 | €41,238 | €42,449 | +€1,211 | +2.9% |
| Plant, machinery and equipment | 23 | €8,051 | €20,131 | +€12,080 | +150% |
| Furniture and vehicles | 24 | €30,099 | €20,431 | -€9,668 | -32.1% |
| Other tangible fixed assets | 26 | €3,088 | €1,887 | -€1,201 | -38.9% |
| Financial fixed assets | 28 | €48 | €48 | = | 0.0% |
| Current assets | 29/58 | €73,178 | €60,679 | -€12,498 | -17.1% |
| Amounts receivable within one year | 40/41 | €24,399 | €16,861 | -€7,538 | -30.9% |
| Trade receivables | 40 | €21,676 | €16,714 | -€4,962 | -22.9% |
| Other amounts receivable | 41 | €2,723 | €147 | -€2,576 | -94.6% |
| Cash at bank and in hand | 54/58 | €47,810 | €42,817 | -€4,993 | -10.4% |
| Deferred charges and accrued income | 490/1 | €968 | €1,001 | +€33 | +3.4% |
| Total equity and liabilities | 10/49 | €114,464 | €103,177 | -€11,287 | -9.9% |
| Equity | 10/15 | €83,122 | €79,530 | -€3,592 | -4.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Contributions outside capital | 11 | €18,592 | €18,592 | = | 0.0% |
| Other | 1109/19 | €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% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €62,671 | €59,079 | -€3,592 | -5.7% |
| Amounts payable | 17/49 | €31,342 | €23,647 | -€7,696 | -24.6% |
| Amounts payable after more than one year | 17 | €1,662 | - | -€1,662 | |
| Financial debts | 170/4 | €1,662 | - | -€1,662 | |
| Amounts payable within one year | 42/48 | €29,681 | €23,647 | -€6,034 | -20.3% |
| Current portion of amounts payable after more than one year | 42 | €6,589 | €1,662 | -€4,928 | -74.8% |
| Trade debts | 44 | €2,100 | €4,305 | +€2,205 | +105% |
| Suppliers | 440/4 | €2,100 | €4,305 | +€2,205 | +105% |
| Taxes, remuneration and social security | 45 | €5,143 | €5,164 | +€21 | +0.4% |
| Taxes | 450/3 | €5,143 | €5,164 | +€21 | +0.4% |
| Other amounts payable | 47/48 | €15,848 | €12,516 | -€3,332 | -21.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,611 | €19,315 | +€1,704 | +9.7% |
| Other operating charges | 640/8 | €1,004 | €999 | -€5 | -0.5% |
| Gross operating margin | 9900 | €46,836 | €40,544 | -€6,292 | -13.4% |
| Operating profit (loss) | 9901 | €28,220 | €20,230 | -€7,990 | -28.3% |
| Financial income | 75/76B | €26 | €17 | -€9 | -35.1% |
| Recurring financial income | 75 | €26 | €17 | -€9 | -35.1% |
| Financial charges | 65/66B | €688 | €675 | -€12 | -1.8% |
| Recurring financial charges | 65 | €688 | €675 | -€12 | -1.8% |
| Profit (loss) for the period before taxes | 9903 | €27,559 | €19,572 | -€7,987 | -29.0% |
| Income taxes | 67/77 | €7,277 | €6,021 | -€1,256 | -17.3% |
| Profit (loss) for the period | 9904 | €20,282 | €13,551 | -€6,731 | -33.2% |
| Profit (loss) for the period to be appropriated | 9905 | €20,282 | €13,551 | -€6,731 | -33.2% |
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 17 October 2026 via checked.be.