BADIGO: 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.
What changed
BADIGO
NACE 64.210, Activities of holding companies
financial year 2026 compared with 2025filed annual accounts (NBB)
Net result for the year
€44,882
2025 · €260,973-€216,090
Equity
€991,031
2025 · €946,149+€44,882
Cash
€1,888
2025 · €13,148-€11,260
Balance sheet total
€4.9m
2025 · €3.4m+€1.5m
Largest movements
Assets
- Financial fixed assets +€1.4m
up €1.4m (+50.4%), from €2.7m to €4.1m
- Tangible fixed assets +€122,465
up €122,465 (+38.8%), from €315,810 to €438,275
of which Other tangible fixed assets: +€109,797
Equity and liabilities
- Debts after one year +€926,213
up €926,213 (+76.5%), from €1.2m to €2.1m
- Other debts +€302,643
up €302,643 (+29.4%), from €1.0m to €1.3m
- Current portion of long-term debt +€127,366
up €127,366 (+125%), from €101,978 to €229,344
- Short-term financial debts +€75,000
new in 2026: €75,000
Income statement
- Financial income -€423,929
down €423,929 (-67.8%), from €625,099 to €201,169
- Financial charges -€103,264
down €103,264 (-50.1%), from €206,243 to €102,980
of which Non-recurring financial charges: -€111,942
- Gross operating margin -€99,289
down €99,289 (-23.5%), from €421,711 to €322,422
- Staff costs +€13,037
up €13,037 (+5.5%), from €237,221 to €250,257
- Other operating charges -€4,469
down €4,469 (-11.3%), from €39,443 to €34,974
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.
Result 2025
€260,973
Gross operating margin
-€99,289
Staff costs
-€13,037
Depreciation
+€355
Other operating charges
+€4,469
Other operating items
+€212,081
Financial income
-€423,929
Financial charges
+€103,264
Taxes
-€4
Result 2026
€44,882
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€405,370
Investment
-€1.5m
Financing
+€1.1m
Cash 2025
€13,148
From operations (derived)
+€405,370
Net result for the year
+€44,882
Depreciation
+€40,911
Receivables within one year
+€24,546
Smaller working-capital items
+€2,312
Trade debts
-€5,664
Other debts
+€302,643
Accrued charges and deferred income
-€4,259
Investment (derived)
-€1.5m
Investment in fixed assets (net)
-€1.5m
Financing
+€1.1m
Debts after one year
+€926,213
Current portion of long-term debt
+€127,366
Short-term financial debts
+€75,000
Cash 2026
€1,888
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,419,270 | €4,885,756 | +€1.5m | +42.9% |
| Formation expenses | 20 | €3,022 | €0 | -€3,022 | -100% |
| Fixed assets | 21/28 | €3,079,027 | €4,586,347 | +€1.5m | +49.0% |
| Intangible fixed assets | 21 | €15,649 | €15,504 | -€145 | -0.9% |
| Tangible fixed assets | 22/27 | €315,810 | €438,275 | +€122,465 | +38.8% |
| Land and buildings | 22 | €240,634 | €276,307 | +€35,674 | +14.8% |
| Plant, machinery and equipment | 23 | €69,115 | €48,865 | -€20,251 | -29.3% |
| Furniture and vehicles | 24 | €6,061 | €3,306 | -€2,754 | -45.4% |
| Other tangible fixed assets | 26 | - | €109,797 | +€109,797 | |
| Financial fixed assets | 28 | €2,747,568 | €4,132,568 | +€1.4m | +50.4% |
| Current assets | 29/58 | €337,221 | €299,409 | -€37,812 | -11.2% |
| Amounts receivable within one year | 40/41 | €312,715 | €288,169 | -€24,546 | -7.8% |
| Trade receivables | 40 | €64,496 | €27,862 | -€36,634 | -56.8% |
| Other amounts receivable | 41 | €248,219 | €260,308 | +€12,088 | +4.9% |
| Cash at bank and in hand | 54/58 | €13,148 | €1,888 | -€11,260 | -85.6% |
| Deferred charges and accrued income | 490/1 | €11,358 | €9,352 | -€2,005 | -17.7% |
| Total equity and liabilities | 10/49 | €3,419,270 | €4,885,756 | +€1.5m | +42.9% |
| Equity | 10/15 | €946,149 | €991,031 | +€44,882 | +4.7% |
| Contributions | 10/11 | €236,000 | €236,000 | = | 0.0% |
| Capital | 10 | €236,000 | €236,000 | = | 0.0% |
| Issued capital | 100 | €236,000 | €236,000 | = | 0.0% |
| Reserves | 13 | €710,149 | €755,031 | +€44,882 | +6.3% |
| Non-distributable reserves | 130/1 | €23,600 | €23,600 | = | 0.0% |
| Legal reserve | 130 | €23,600 | €23,600 | = | 0.0% |
| Tax-exempt reserves | 132 | €17,848 | €17,848 | = | 0.0% |
| Distributable reserves | 133 | €668,701 | €713,583 | +€44,882 | +6.7% |
| Amounts payable | 17/49 | €2,473,121 | €3,894,725 | +€1.4m | +57.5% |
| Amounts payable after more than one year | 17 | €1,210,277 | €2,136,490 | +€926,213 | +76.5% |
| Financial debts | 170/4 | €1,210,277 | €2,136,490 | +€926,213 | +76.5% |
| Amounts payable within one year | 42/48 | €1,235,941 | €1,735,592 | +€499,651 | +40.4% |
| Current portion of amounts payable after more than one year | 42 | €101,978 | €229,344 | +€127,366 | +125% |
| Financial debts | 43 | - | €75,000 | +€75,000 | |
| Credit institutions | 430/8 | - | €75,000 | +€75,000 | |
| Trade debts | 44 | €63,022 | €57,357 | -€5,664 | -9.0% |
| Suppliers | 440/4 | €63,022 | €57,357 | -€5,664 | -9.0% |
| Taxes, remuneration and social security | 45 | €40,328 | €40,635 | +€307 | +0.8% |
| Taxes | 450/3 | €1,515 | €1,642 | +€128 | +8.4% |
| Remuneration and social security | 454/9 | €38,813 | €38,992 | +€179 | +0.5% |
| Other amounts payable | 47/48 | €1,030,614 | €1,333,257 | +€302,643 | +29.4% |
| Accrued charges and deferred income | 492/3 | €26,903 | €22,643 | -€4,259 | -15.8% |
| Remuneration, social security and pensions | 62 | €237,221 | €250,257 | +€13,037 | +5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,266 | €40,911 | -€355 | -0.9% |
| Other operating charges | 640/8 | €39,443 | €34,974 | -€4,469 | -11.3% |
| Non-recurring operating charges | 66A | €261,316 | €49,234 | -€212,081 | -81.2% |
| Gross operating margin | 9900 | €421,711 | €322,422 | -€99,289 | -23.5% |
| Operating profit (loss) | 9901 | -€157,534 | -€52,955 | +€104,579 | +66.4% |
| Financial income | 75/76B | €625,099 | €201,169 | -€423,929 | -67.8% |
| Recurring financial income | 75 | €625,099 | €201,169 | -€423,929 | -67.8% |
| Financial charges | 65/66B | €206,243 | €102,980 | -€103,264 | -50.1% |
| Recurring financial charges | 65 | €94,302 | €102,980 | +€8,678 | +9.2% |
| Non-recurring financial charges | 66B | €111,942 | €0 | -€111,942 | -100% |
| Profit (loss) for the period before taxes | 9903 | €261,321 | €45,234 | -€216,087 | -82.7% |
| Income taxes | 67/77 | €348 | €352 | +€4 | +1.1% |
| Profit (loss) for the period | 9904 | €260,973 | €44,882 | -€216,090 | -82.8% |
| Profit (loss) for the period to be appropriated | 9905 | €260,973 | €44,882 | -€216,090 | -82.8% |
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 29 October 2026 via checked.be.