PAD THAI: 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 THAI
Largest movements
- Tangible fixed assets +€71,211
new in 2025: €71,211
of which Plant, machinery and equipment: +€55,147
- Cash -€11,091
down €11,091 (-63.4%), from €17,507 to €6,416
mainly Investment in fixed assets (net) (-€91,453) and Net result for the year (-€24,590)
- Stocks and contracts +€7,936
new in 2025: €7,936
- Intangible fixed assets +€7,307
new in 2025: €7,307
- Financial fixed assets +€6,354
new in 2025: €6,354
- Debts after one year +€81,184
new in 2025: €81,184
- Profit (loss) carried forward -€24,590
down €24,590 (-268.9%), from -€9,144 to -€33,734
- Current portion of long-term debt +€13,459
new in 2025: €13,459
- Tax, wage and social debts +€5,051
new in 2025: €5,051
of which Remuneration and social security: +€2,704
- Trade debts +€3,028
new in 2025: €3,028
- Staff costs +€38,094
new in 2025: €38,094
- Gross operating margin +€36,199
up €36,199, from -€8,707 to €27,493
- Depreciation +€6,581
new in 2025: €6,581
- Financial charges +€5,893
new in 2025: €5,893
- Other operating charges +€1,077
up €1,077 (+246.2%), from €437 to €1,514
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 | €18,267 | €100,230 | +€81,963 | +448.7% |
| Fixed assets | 21/28 | - | €84,872 | +€84,872 | |
| Intangible fixed assets | 21 | - | €7,307 | +€7,307 | |
| Tangible fixed assets | 22/27 | - | €71,211 | +€71,211 | |
| Plant, machinery and equipment | 23 | - | €55,147 | +€55,147 | |
| Furniture and vehicles | 24 | - | €16,064 | +€16,064 | |
| Financial fixed assets | 28 | - | €6,354 | +€6,354 | |
| Current assets | 29/58 | €18,267 | €15,358 | -€2,909 | -15.9% |
| Stocks and contracts in progress | 3 | - | €7,936 | +€7,936 | |
| Stocks | 30/36 | - | €7,936 | +€7,936 | |
| Amounts receivable within one year | 40/41 | €760 | €140 | -€620 | -81.6% |
| Other amounts receivable | 41 | €760 | €140 | -€620 | -81.6% |
| Cash at bank and in hand | 54/58 | €17,507 | €6,416 | -€11,091 | -63.4% |
| Deferred charges and accrued income | 490/1 | - | €866 | +€866 | |
| Total equity and liabilities | 10/49 | €18,267 | €100,230 | +€81,963 | +448.7% |
| Equity | 10/15 | -€3,144 | -€27,734 | -€24,590 | -782.1% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,144 | -€33,734 | -€24,590 | -268.9% |
| Amounts payable | 17/49 | €21,411 | €127,964 | +€106,553 | +497.7% |
| Amounts payable after more than one year | 17 | - | €81,184 | +€81,184 | |
| Financial debts | 170/4 | - | €81,184 | +€81,184 | |
| Amounts payable within one year | 42/48 | €21,411 | €44,570 | +€23,159 | +108.2% |
| Current portion of amounts payable after more than one year | 42 | - | €13,459 | +€13,459 | |
| Trade debts | 44 | - | €3,028 | +€3,028 | |
| Suppliers | 440/4 | - | €3,028 | +€3,028 | |
| Taxes, remuneration and social security | 45 | - | €5,051 | +€5,051 | |
| Taxes | 450/3 | - | €2,347 | +€2,347 | |
| Remuneration and social security | 454/9 | - | €2,704 | +€2,704 | |
| Other amounts payable | 47/48 | €21,411 | €23,032 | +€1,621 | +7.6% |
| Accrued charges and deferred income | 492/3 | - | €2,209 | +€2,209 | |
| Remuneration, social security and pensions | 62 | - | €38,094 | +€38,094 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €6,581 | +€6,581 | |
| Other operating charges | 640/8 | €437 | €1,514 | +€1,077 | +246.2% |
| Gross operating margin | 9900 | -€8,707 | €27,493 | +€36,199 | |
| Operating profit (loss) | 9901 | -€9,144 | -€18,697 | -€9,553 | -104.5% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | - | €5,893 | +€5,893 | |
| Recurring financial charges | 65 | - | €5,893 | +€5,893 | |
| Profit (loss) for the period before taxes | 9903 | -€9,144 | -€24,590 | -€15,446 | -168.9% |
| Profit (loss) for the period | 9904 | -€9,144 | -€24,590 | -€15,446 | -168.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,144 | -€24,590 | -€15,446 | -168.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.