PADANA: 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.
PADANA
Largest movements
- Stocks and contracts +€8,970
up €8,970 (+30.9%), from €29,011 to €37,981
- Tangible fixed assets -€3,760
down €3,760 (-23.5%), from €15,980 to €12,220
- Cash -€2,283
down €2,283 (-87.4%), from €2,613 to €331
mainly Stocks and contracts (-€8,970) and Other debts (-€7,117)
- Trade debts +€8,014
up €8,014 (+121.9%), from €6,576 to €14,590
- Other debts -€7,117
down €7,117 (-84.1%), from €8,461 to €1,343
- Reserves +€5,000
up €5,000 (+31.0%), from €16,125 to €21,125
of which Distributable reserves: +€5,000
- Profit (loss) carried forward -€2,748
new in 2025: -€2,748
- Taxes +€1,590
new in 2025: €1,590
- Staff costs +€1,387
up €1,387 (+13.5%), from €10,310 to €11,698
- Gross operating margin -€1,377
down €1,377 (-7.5%), from €18,447 to €17,070
- Depreciation +€940
up €940 (+33.3%), from €2,820 to €3,760
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 | €49,749 | €53,192 | +€3,444 | +6.9% |
| Fixed assets | 21/28 | €18,125 | €14,365 | -€3,760 | -20.7% |
| Tangible fixed assets | 22/27 | €15,980 | €12,220 | -€3,760 | -23.5% |
| Furniture and vehicles | 24 | €15,980 | €12,220 | -€3,760 | -23.5% |
| Financial fixed assets | 28 | €2,145 | €2,145 | = | 0.0% |
| Current assets | 29/58 | €31,624 | €38,827 | +€7,204 | +22.8% |
| Stocks and contracts in progress | 3 | €29,011 | €37,981 | +€8,970 | +30.9% |
| Stocks | 30/36 | €29,011 | €37,981 | +€8,970 | +30.9% |
| Amounts receivable within one year | 40/41 | - | €516 | +€516 | |
| Other amounts receivable | 41 | - | €516 | +€516 | |
| Cash at bank and in hand | 54/58 | €2,613 | €331 | -€2,283 | -87.4% |
| Total equity and liabilities | 10/49 | €49,749 | €53,192 | +€3,444 | +6.9% |
| Equity | 10/15 | €34,675 | €36,927 | +€2,252 | +6.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Outside capital | 11 | €18,550 | €18,550 | = | 0.0% |
| Share premium | 1100/10 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €16,125 | €21,125 | +€5,000 | +31.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €14,270 | €19,270 | +€5,000 | +35.0% |
| Profit (loss) carried forward | 14 | - | -€2,748 | -€2,748 | |
| Amounts payable | 17/49 | €15,074 | €16,265 | +€1,192 | +7.9% |
| Amounts payable within one year | 42/48 | €15,074 | €16,265 | +€1,192 | +7.9% |
| Trade debts | 44 | €6,576 | €14,590 | +€8,014 | +121.9% |
| Suppliers | 440/4 | €6,576 | €14,590 | +€8,014 | +121.9% |
| Taxes, remuneration and social security | 45 | €37 | €332 | +€295 | +790.8% |
| Taxes | 450/3 | €37 | - | -€37 | |
| Remuneration and social security | 454/9 | - | €332 | +€332 | |
| Other amounts payable | 47/48 | €8,461 | €1,343 | -€7,117 | -84.1% |
| Remuneration, social security and pensions | 62 | €10,310 | €11,698 | +€1,387 | +13.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,820 | €3,760 | +€940 | +33.3% |
| Other operating charges | 640/8 | €2,288 | €2,311 | +€23 | +1.0% |
| Gross operating margin | 9900 | €18,447 | €17,070 | -€1,377 | -7.5% |
| Operating profit (loss) | 9901 | €3,028 | -€699 | -€3,727 | |
| Financial charges | 65/66B | €491 | €459 | -€32 | -6.5% |
| Recurring financial charges | 65 | €491 | €459 | -€32 | -6.5% |
| Profit (loss) for the period before taxes | 9903 | €2,537 | -€1,158 | -€3,695 | |
| Income taxes | 67/77 | - | €1,590 | +€1,590 | |
| Profit (loss) for the period | 9904 | €2,537 | -€2,748 | -€5,285 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,537 | -€2,748 | -€5,285 |
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 6 October 2026 via checked.be.