Badeux: what changed
Badeux
Largest movements
- Financial fixed assets -€540,540
down €540,540 (-100%), from €540,540 to €0
- Cash +€187,245
up €187,245 (+9,249%), from €2,025 to €189,270
mainly Investment in fixed assets (net) (+€522,850) and Depreciation (+€2,262)
- Receivables within one year +€172,434
up €172,434 (+756%), from €22,814 to €195,247
of which Other amounts receivable: +€149,696
- Tangible fixed assets +€15,428
new in 2025: €15,428
- Other debts -€160,540
down €160,540 (-100%), from €160,540 to €0
- Profit (loss) carried forward -€5,697
down €5,697 (-15.2%), from -€37,511 to -€43,207
- Gross operating margin +€33,526
up €33,526 (+92.6%), from -€36,190 to -€2,664
- Depreciation +€2,262
new in 2025: €2,262
- Financial income -€733
down €733 (-99.9%), from €734 to €1
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €566,068 | €401,414 | -€164,654 | -29.1% |
| Fixed assets | 21/28 | €540,540 | €15,428 | -€525,112 | -97.1% |
| Tangible fixed assets | 22/27 | - | €15,428 | +€15,428 | |
| Furniture and vehicles | 24 | - | €15,428 | +€15,428 | |
| Financial fixed assets | 28 | €540,540 | €0 | -€540,540 | -100% |
| Current assets | 29/58 | €25,528 | €385,985 | +€360,457 | +1,412% |
| Amounts receivable within one year | 40/41 | €22,814 | €195,247 | +€172,434 | +756% |
| Trade receivables | 40 | - | €22,738 | +€22,738 | |
| Other amounts receivable | 41 | €22,814 | €172,509 | +€149,696 | +656% |
| Cash at bank and in hand | 54/58 | €2,025 | €189,270 | +€187,245 | +9,249% |
| Deferred charges and accrued income | 490/1 | €690 | €1,468 | +€779 | +113% |
| Total equity and liabilities | 10/49 | €566,068 | €401,414 | -€164,654 | -29.1% |
| Equity | 10/15 | €362,489 | €356,793 | -€5,697 | -1.6% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€37,511 | -€43,207 | -€5,697 | -15.2% |
| Amounts payable | 17/49 | €203,579 | €44,621 | -€158,958 | -78.1% |
| Amounts payable within one year | 42/48 | €203,579 | €44,621 | -€158,958 | -78.1% |
| Trade debts | 44 | €2,559 | €4,029 | +€1,470 | +57.4% |
| Suppliers | 440/4 | €2,559 | €4,029 | +€1,470 | +57.4% |
| Advances received on contracts in progress | 46 | €40,000 | €40,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €480 | €592 | +€112 | +23.4% |
| Taxes | 450/3 | €480 | €592 | +€112 | +23.4% |
| Other amounts payable | 47/48 | €160,540 | €0 | -€160,540 | -100% |
| Non-recurring operating income | 76A | - | €20,000 | +€20,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €2,262 | +€2,262 | |
| Other operating charges | 640/8 | - | €278 | +€278 | |
| Gross operating margin | 9900 | -€36,190 | -€2,664 | +€33,526 | +92.6% |
| Operating profit (loss) | 9901 | -€36,190 | -€5,203 | +€30,987 | +85.6% |
| Financial income | 75/76B | €734 | €1 | -€733 | -99.9% |
| Recurring financial income | 75 | €734 | €1 | -€733 | -99.9% |
| Financial charges | 65/66B | €115 | €382 | +€268 | +234% |
| Recurring financial charges | 65 | €115 | €382 | +€268 | +234% |
| Profit (loss) for the period before taxes | 9903 | -€35,571 | -€5,584 | +€29,986 | +84.3% |
| Income taxes | 67/77 | - | €112 | +€112 | |
| Profit (loss) for the period | 9904 | -€35,571 | -€5,697 | +€29,874 | +84.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€35,571 | -€5,697 | +€29,874 | +84.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.