Earnings & Results
Bigben Interactive Reports €394.9 Million Net Loss as Equity Turns Negative
By News Desk ·
Key takeaways
- Bigben Interactive reported 2025-2026 revenue of €284.5 million, down from €288.0 million a year earlier.
- A €369.4 million impairment of fixed assets drove a consolidated net loss of €394.9 million.
- Three additional bondholders representing 16.72% of the outstanding bonds joined the backstop commitment, lifting the guarantors to about 93.4%.
Bigben Interactive reported a consolidated net loss of €394.9 million for its 2025-2026 financial year, after a €369.4 million impairment of fixed assets, on revenue of €284.5 million, down from €288.0 million. The French video game and audio-video group announced the results on October 16, 2026, according to GlobeNewswire.
Bigben's Impairment and Negative Equity
The impairment followed an enterprise valuation carried out for NACON and BIGBEN - AudioVideo / Telco as part of the company's accelerated safeguard proceedings. Depreciation, amortization and impairment of fixed assets reached €434.3 million, and operating profit was negative €378.7 million. Equity stood at negative €55.8 million as of March 31, 2026, with available cash of €31.6 million and net debt of €167.9 million, including €59.1 million of bond debt.
NACON - Gaming reported revenue of €160.8 million, down from €167.9 million, which the company attributed to a decline in Accessories activity in the United States despite strong Games performance. BIGBEN - AudioVideo / Telco revenue rose 3.1% to €123.7 million, while its gross margin rate fell 1.7 points to 31.0% on additional inventory impairments. TradingView reported the same impairment figure and negative equity, and noted the accelerated safeguard was extended to December 17, 2026.
Bigben's Backstop Syndication Result
According to akta.pro company records, Bigben Interactive is a public company founded in 1989 and headquartered in Fretin, France, with revenue estimated between $250 million and $500 million. The same records show NACON filed for insolvency in February 2026 after Bigben Interactive could not make a €43 million loan repayment, and that four NACON-owned development subsidiaries filed for insolvency and reorganization in March 2026.
How Bigben Reached the Safeguard Filing
The Commercial Court of Lille Métropole approved an accelerated safeguard proceeding for Bigben Interactive on August 17, 2026, GlobeNewswire reported. On August 4, 2026, the company said it had obtained agreement in principle from senior bondholders holding approximately 67.6% of Nacon-exchangeable obligations and four of five banking pool creditors, according to GlobeNewswire. Nacon, which Bigben Interactive controls with 56.72% of its share capital and 69.54% of voting rights, acknowledged the announcement, GlobeNewswire reported on August 5, 2026.
Bigben's Next Steps
The Lille Métropole Commercial Court set a hearing to review the accelerated safeguard plan for December 9, 2026, after extending the proceedings to December 17, 2026. Creditors and shareholders will vote on the draft plan within classes of affected parties before the Court rules on its adoption. Bigben Interactive said the financial restructuring operations are expected to be completed by the end of the first quarter of 2027, and it will report Q2 2025-2026 revenue on October 26, 2026, after market close.