PAD IMMO: what changed
Two fiscal 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.
PAD IMMO
Largest movements
- Tangible fixed assets +€196,988
up €196,988 (+39.4%), from €499,701 to €696,689
of which Land and buildings: +€198,182
- Debts after one year +€192,193
up €192,193 (+48.4%), from €397,013 to €589,206
of which Financial debts: +€184,258
- Profit (loss) carried forward -€36,242
down €36,242 (-50.3%), from -€72,023 to -€108,264
- Other debts +€23,926
up €23,926 (+33.0%), from €72,457 to €96,383
- Current portion of long-term debt +€8,578
up €8,578 (+51.8%), from €16,560 to €25,137
- Depreciation +€36,471
up €36,471 (+237.4%), from €15,366 to €51,837
- Other operating charges +€2,168
up €2,168 (+90.6%), from €2,393 to €4,561
- Financial charges +€606
up €606 (+4.0%), from €14,971 to €15,576
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 | €514,162 | €702,686 | +€188,524 | +36.7% |
| Fixed assets | 21/28 | €499,701 | €696,689 | +€196,988 | +39.4% |
| Tangible fixed assets | 22/27 | €499,701 | €696,689 | +€196,988 | +39.4% |
| Land and buildings | 22 | €498,506 | €696,689 | +€198,182 | +39.8% |
| Furniture and vehicles | 24 | €1,195 | - | -€1,195 | |
| Current assets | 29/58 | €14,461 | €5,997 | -€8,464 | -58.5% |
| Amounts receivable within one year | 40/41 | €9,498 | €2,823 | -€6,675 | -70.3% |
| Other amounts receivable | 41 | €9,498 | €2,823 | -€6,675 | -70.3% |
| Cash at bank and in hand | 54/58 | €4,275 | €3,175 | -€1,101 | -25.7% |
| Deferred charges and accrued income | 490/1 | €688 | - | -€688 | |
| Total equity and liabilities | 10/49 | €514,162 | €702,686 | +€188,524 | +36.7% |
| Equity | 10/15 | €27,977 | -€8,264 | -€36,242 | |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€72,023 | -€108,264 | -€36,242 | -50.3% |
| Amounts payable | 17/49 | €486,185 | €710,950 | +€224,766 | +46.2% |
| Amounts payable after more than one year | 17 | €397,013 | €589,206 | +€192,193 | +48.4% |
| Financial debts | 170/4 | €397,013 | €581,271 | +€184,258 | +46.4% |
| Other amounts payable | 178/9 | - | €7,935 | +€7,935 | |
| Amounts payable within one year | 42/48 | €89,171 | €121,744 | +€32,573 | +36.5% |
| Current portion of amounts payable after more than one year | 42 | €16,560 | €25,137 | +€8,578 | +51.8% |
| Trade debts | 44 | €154 | €223 | +€69 | +44.8% |
| Suppliers | 440/4 | €154 | €223 | +€69 | +44.8% |
| Other amounts payable | 47/48 | €72,457 | €96,383 | +€23,926 | +33.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,366 | €51,837 | +€36,471 | +237.4% |
| Other operating charges | 640/8 | €2,393 | €4,561 | +€2,168 | +90.6% |
| Gross operating margin | 9900 | €35,166 | €35,377 | +€211 | +0.6% |
| Operating profit (loss) | 9901 | €17,407 | -€21,020 | -€38,428 | |
| Financial income | 75/76B | €541 | €355 | -€186 | -34.4% |
| Recurring financial income | 75 | €541 | €355 | -€186 | -34.4% |
| Financial charges | 65/66B | €14,971 | €15,576 | +€606 | +4.0% |
| Recurring financial charges | 65 | €14,971 | €15,576 | +€606 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | €2,978 | -€36,242 | -€39,219 | |
| Profit (loss) for the period | 9904 | €2,978 | -€36,242 | -€39,219 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,978 | -€36,242 | -€39,219 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.