PADEBA: 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.
PADEBA
Largest movements
- Tangible fixed assets +€404,646
up €404,646 (+14.3%), from €2.8m to €3.2m
of which Land and buildings: +€516,715
- Cash -€313,954
down €313,954 (-72.3%), from €434,118 to €120,164
mainly Investment in fixed assets (net) (-€559,100) and Net result for the year (-€58,796)
- Debts after one year +€95,936
up €95,936 (+7.4%), from €1.3m to €1.4m
of which Financial debts: +€95,936
- Short-term financial debts +€55,077
new in 2025: €55,077
- Profit (loss) carried forward -€38,076
new in 2025: -€38,076
- Depreciation +€81,490
up €81,490 (+111.7%), from €72,964 to €154,454
- Gross operating margin +€22,026
up €22,026 (+22.7%), from €96,985 to €119,011
- Financial income -€11,188
down €11,188 (-67.2%), from €16,641 to €5,453
- Taxes -€10,625
no longer reported in 2025 (was €10,625)
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 | €3,282,677 | €3,370,091 | +€87,414 | +2.7% |
| Fixed assets | 21/28 | €2,839,448 | €3,244,094 | +€404,646 | +14.3% |
| Tangible fixed assets | 22/27 | €2,839,448 | €3,244,094 | +€404,646 | +14.3% |
| Land and buildings | 22 | €2,727,379 | €3,244,094 | +€516,715 | +18.9% |
| Assets under construction and advance payments | 27 | €112,068 | - | -€112,068 | |
| Current assets | 29/58 | €443,229 | €125,997 | -€317,232 | -71.6% |
| Amounts receivable within one year | 40/41 | €9,111 | €5,166 | -€3,945 | -43.3% |
| Trade receivables | 40 | - | €30 | +€30 | |
| Other amounts receivable | 41 | €9,111 | €5,136 | -€3,976 | -43.6% |
| Cash at bank and in hand | 54/58 | €434,118 | €120,164 | -€313,954 | -72.3% |
| Deferred charges and accrued income | 490/1 | - | €667 | +€667 | |
| Total equity and liabilities | 10/49 | €3,282,677 | €3,370,091 | +€87,414 | +2.7% |
| Equity | 10/15 | €1,845,594 | €1,786,797 | -€58,796 | -3.2% |
| Contributions | 10/11 | €1,038,726 | €1,038,726 | = | 0.0% |
| Reserves | 13 | €806,868 | €786,147 | -€20,721 | -2.6% |
| Tax-exempt reserves | 132 | €412,398 | €391,677 | -€20,721 | -5.0% |
| Distributable reserves | 133 | €394,470 | €394,470 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€38,076 | -€38,076 | |
| Provisions and deferred taxes | 16 | €137,466 | €130,559 | -€6,907 | -5.0% |
| Deferred taxes | 168 | €137,466 | €130,559 | -€6,907 | -5.0% |
| Amounts payable | 17/49 | €1,299,617 | €1,452,734 | +€153,117 | +11.8% |
| Amounts payable after more than one year | 17 | €1,289,942 | €1,385,879 | +€95,936 | +7.4% |
| Financial debts | 170/4 | - | €95,936 | +€95,936 | |
| Other amounts payable | 178/9 | €1,289,942 | €1,289,942 | = | 0.0% |
| Amounts payable within one year | 42/48 | - | €55,249 | +€55,249 | |
| Financial debts | 43 | - | €55,077 | +€55,077 | |
| Credit institutions | 430/8 | - | €55,077 | +€55,077 | |
| Other amounts payable | 47/48 | - | €172 | +€172 | |
| Accrued charges and deferred income | 492/3 | €9,675 | €11,607 | +€1,932 | +20.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,964 | €154,454 | +€81,490 | +111.7% |
| Other operating charges | 640/8 | €13,737 | €13,317 | -€420 | -3.1% |
| Gross operating margin | 9900 | €96,985 | €119,011 | +€22,026 | +22.7% |
| Operating profit (loss) | 9901 | €10,284 | -€48,760 | -€59,044 | |
| Financial income | 75/76B | €16,641 | €5,453 | -€11,188 | -67.2% |
| Recurring financial income | 75 | €16,641 | €5,453 | -€11,188 | -67.2% |
| Financial charges | 65/66B | €21,369 | €22,396 | +€1,027 | +4.8% |
| Recurring financial charges | 65 | €21,369 | €22,396 | +€1,027 | +4.8% |
| Profit (loss) for the period before taxes | 9903 | €5,556 | -€65,703 | -€71,259 | |
| Transfer from deferred taxes | 780 | €6,907 | €6,907 | = | 0.0% |
| Income taxes | 67/77 | €10,625 | - | -€10,625 | |
| Profit (loss) for the period | 9904 | €1,838 | -€58,796 | -€60,634 | |
| Transfer from tax-exempt reserves | 789 | €20,721 | €20,721 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,558 | -€38,076 | -€60,634 |
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 3 October 2026 via checked.be.