PADA INVEST: what changed
PADA INVEST
Largest movements
- Receivables within one year -€22,569
down €22,569 (-18.5%), from €121,964 to €99,395
of which Other amounts receivable: -€22,569
- Tangible fixed assets -€10,910
down €10,910 (-3.1%), from €355,782 to €344,872
of which Land and buildings: -€10,333
- Debts after one year -€27,005
down €27,005 (-13.6%), from €197,920 to €170,914
- Short-term financial debts +€16,459
up €16,459 (+19.8%), from €82,954 to €99,413
of which Other loans: +€10,000
- Trade debts -€9,270
down €9,270 (-13.1%), from €70,882 to €61,612
- Current portion of long-term debt -€8,393
down €8,393 (-21.6%), from €38,880 to €30,487
- Financial charges +€5,910
up €5,910 (+65.9%), from €8,967 to €14,877
- Gross operating margin +€2,647
up €2,647 (+14.6%), from €18,192 to €20,839
- Other operating charges +€534
up €534 (+36.7%), from €1,455 to €1,990
- Financial income -€426
down €426 (-11.4%), from €3,736 to €3,310
- Taxes -€406
down €406 (-63.2%), from €643 to €237
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 | €478,077 | €444,267 | -€33,810 | -7.1% |
| Fixed assets | 21/28 | €355,782 | €344,872 | -€10,910 | -3.1% |
| Tangible fixed assets | 22/27 | €355,782 | €344,872 | -€10,910 | -3.1% |
| Land and buildings | 22 | €354,060 | €343,727 | -€10,333 | -2.9% |
| Furniture and vehicles | 24 | €1,140 | €627 | -€512 | -45.0% |
| Other tangible fixed assets | 26 | €582 | €518 | -€65 | -11.1% |
| Current assets | 29/58 | €122,295 | €99,395 | -€22,900 | -18.7% |
| Amounts receivable within one year | 40/41 | €121,964 | €99,395 | -€22,569 | -18.5% |
| Trade receivables | 40 | €28,871 | €28,871 | = | 0.0% |
| Other amounts receivable | 41 | €93,093 | €70,524 | -€22,569 | -24.2% |
| Cash at bank and in hand | 54/58 | €331 | - | -€331 | |
| Total equity and liabilities | 10/49 | €478,077 | €444,267 | -€33,810 | -7.1% |
| Equity | 10/15 | €82,327 | €78,463 | -€3,865 | -4.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €63,727 | €59,863 | -€3,865 | -6.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,351 | €18,351 | = | 0.0% |
| Distributable reserves | 133 | €43,516 | €39,652 | -€3,865 | -8.9% |
| Amounts payable | 17/49 | €395,750 | €365,804 | -€29,946 | -7.6% |
| Amounts payable after more than one year | 17 | €197,920 | €170,914 | -€27,005 | -13.6% |
| Financial debts | 170/4 | €197,920 | €170,914 | -€27,005 | -13.6% |
| Amounts payable within one year | 42/48 | €197,830 | €194,890 | -€2,940 | -1.5% |
| Current portion of amounts payable after more than one year | 42 | €38,880 | €30,487 | -€8,393 | -21.6% |
| Financial debts | 43 | €82,954 | €99,413 | +€16,459 | +19.8% |
| Credit institutions | 430/8 | €50,000 | €56,459 | +€6,459 | +12.9% |
| Other loans | 439 | €32,954 | €42,954 | +€10,000 | +30.3% |
| Trade debts | 44 | €70,882 | €61,612 | -€9,270 | -13.1% |
| Suppliers | 440/4 | €70,882 | €61,612 | -€9,270 | -13.1% |
| Taxes, remuneration and social security | 45 | €4,614 | €2,878 | -€1,736 | -37.6% |
| Taxes | 450/3 | €4,614 | €2,878 | -€1,736 | -37.6% |
| Other amounts payable | 47/48 | €500 | €500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,910 | €10,910 | = | 0.0% |
| Other operating charges | 640/8 | €1,455 | €1,990 | +€534 | +36.7% |
| Non-recurring operating charges | 66A | €8,900 | - | -€8,900 | |
| Gross operating margin | 9900 | €18,192 | €20,839 | +€2,647 | +14.6% |
| Operating profit (loss) | 9901 | -€3,073 | €7,939 | +€11,013 | |
| Financial income | 75/76B | €3,736 | €3,310 | -€426 | -11.4% |
| Recurring financial income | 75 | €3,736 | €3,310 | -€426 | -11.4% |
| Financial charges | 65/66B | €8,967 | €14,877 | +€5,910 | +65.9% |
| Recurring financial charges | 65 | €8,967 | €14,877 | +€5,910 | +65.9% |
| Profit (loss) for the period before taxes | 9903 | -€8,305 | -€3,628 | +€4,677 | +56.3% |
| Income taxes | 67/77 | €643 | €237 | -€406 | -63.2% |
| Profit (loss) for the period | 9904 | -€8,948 | -€3,865 | +€5,083 | +56.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,948 | -€3,865 | +€5,083 | +56.8% |
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 2 November 2026 via checked.be.