PADA ONE: 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.
PADA ONE
Largest movements
- Cash +€73,574
up €73,574 (+348.3%), from €21,122 to €94,696
mainly Advances received (+€144,996) and Stocks and contracts (+€43,311)
- Stocks and contracts -€43,311
down €43,311 (-83.0%), from €52,192 to €8,880
- Receivables within one year -€38,950
down €38,950 (-26.3%), from €148,286 to €109,335
of which Trade receivables: -€39,304
- Tangible fixed assets +€14,562
up €14,562 (+10.6%), from €137,328 to €151,890
of which Furniture and vehicles: +€18,223
- Deferred charges and accrued income -€13,994
down €13,994 (-69.0%), from €20,278 to €6,284
- Advances received +€144,996
up €144,996 (+118.1%), from €122,746 to €267,742
- Accrued charges and deferred income -€98,763
down €98,763 (-67.4%), from €146,558 to €47,795
- Profit (loss) carried forward -€63,034
down €63,034 (-28.5%), from -€221,353 to -€284,387
- Other debts +€30,000
up €30,000 (+1218.3%), from €2,462 to €32,462
- Debts after one year -€26,848
down €26,848 (-17.2%), from €155,909 to €129,061
- Gross operating margin +€88,310
up €88,310 (+144.8%), from €60,967 to €149,277
- Staff costs -€59,044
down €59,044 (-24.8%), from €238,115 to €179,071
- Financial charges -€10,486
down €10,486 (-53.1%), from €19,732 to €9,246
- Other operating charges +€3,608
up €3,608 (+521.5%), from €692 to €4,300
- Financial income +€2,126
up €2,126 (+71.3%), from €2,983 to €5,109
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 | €402,266 | €388,708 | -€13,559 | -3.4% |
| Formation expenses | 20 | €23,061 | €17,622 | -€5,439 | -23.6% |
| Fixed assets | 21/28 | €137,328 | €151,890 | +€14,562 | +10.6% |
| Tangible fixed assets | 22/27 | €137,328 | €151,890 | +€14,562 | +10.6% |
| Furniture and vehicles | 24 | €15,999 | €34,222 | +€18,223 | +113.9% |
| Other tangible fixed assets | 26 | €121,329 | €117,668 | -€3,661 | -3.0% |
| Current assets | 29/58 | €241,878 | €219,196 | -€22,682 | -9.4% |
| Stocks and contracts in progress | 3 | €52,192 | €8,880 | -€43,311 | -83.0% |
| Stocks | 30/36 | €52,192 | €8,880 | -€43,311 | -83.0% |
| Amounts receivable within one year | 40/41 | €148,286 | €109,335 | -€38,950 | -26.3% |
| Trade receivables | 40 | €148,286 | €108,981 | -€39,304 | -26.5% |
| Other amounts receivable | 41 | - | €354 | +€354 | |
| Cash at bank and in hand | 54/58 | €21,122 | €94,696 | +€73,574 | +348.3% |
| Deferred charges and accrued income | 490/1 | €20,278 | €6,284 | -€13,994 | -69.0% |
| Total equity and liabilities | 10/49 | €402,266 | €388,708 | -€13,559 | -3.4% |
| Equity | 10/15 | -€171,353 | -€234,387 | -€63,034 | -36.8% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€221,353 | -€284,387 | -€63,034 | -28.5% |
| Amounts payable | 17/49 | €573,619 | €623,095 | +€49,475 | +8.6% |
| Amounts payable after more than one year | 17 | €155,909 | €129,061 | -€26,848 | -17.2% |
| Financial debts | 170/4 | €155,909 | €129,061 | -€26,848 | -17.2% |
| Amounts payable within one year | 42/48 | €271,152 | €446,238 | +€175,086 | +64.6% |
| Current portion of amounts payable after more than one year | 42 | €25,632 | €26,848 | +€1,216 | +4.7% |
| Trade debts | 44 | €95,441 | €83,663 | -€11,778 | -12.3% |
| Suppliers | 440/4 | €95,441 | €83,663 | -€11,778 | -12.3% |
| Advances received on contracts in progress | 46 | €122,746 | €267,742 | +€144,996 | +118.1% |
| Taxes, remuneration and social security | 45 | €24,871 | €35,523 | +€10,652 | +42.8% |
| Taxes | 450/3 | €3,545 | €15,295 | +€11,750 | +331.4% |
| Remuneration and social security | 454/9 | €21,326 | €20,227 | -€1,098 | -5.2% |
| Other amounts payable | 47/48 | €2,462 | €32,462 | +€30,000 | +1218.3% |
| Accrued charges and deferred income | 492/3 | €146,558 | €47,795 | -€98,763 | -67.4% |
| Remuneration, social security and pensions | 62 | €238,115 | €179,071 | -€59,044 | -24.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,565 | €24,569 | -€1,996 | -7.5% |
| Other operating charges | 640/8 | €692 | €4,300 | +€3,608 | +521.5% |
| Gross operating margin | 9900 | €60,967 | €149,277 | +€88,310 | +144.8% |
| Operating profit (loss) | 9901 | -€204,404 | -€58,663 | +€145,741 | +71.3% |
| Financial income | 75/76B | €2,983 | €5,109 | +€2,126 | +71.3% |
| Recurring financial income | 75 | €2,983 | €5,109 | +€2,126 | +71.3% |
| Financial charges | 65/66B | €19,732 | €9,246 | -€10,486 | -53.1% |
| Recurring financial charges | 65 | €19,732 | €9,246 | -€10,486 | -53.1% |
| Profit (loss) for the period before taxes | 9903 | -€221,153 | -€62,800 | +€158,353 | +71.6% |
| Income taxes | 67/77 | €200 | €233 | +€33 | +16.7% |
| Profit (loss) for the period | 9904 | -€221,353 | -€63,034 | +€158,319 | +71.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€221,353 | -€63,034 | +€158,319 | +71.5% |
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 28 September 2026 via checked.be.