PADEBIE: what changed
What changed
PADEBIE
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€164,157
2025 · €91,708+€72,449
Equity
€18,600
2025 · €18,600
Cash
€128,458
2025 · €177,048-€48,590
Balance sheet total
€210,236
2025 · €261,510-€51,274
Largest movements
Assets
- Cash -€48,590
down €48,590 (-27.4%), from €177,048 to €128,458
mainly Contributions, distributions and other (-€164,157) and Other debts (-€56,067)
- Tangible fixed assets -€4,829
down €4,829 (-8.0%), from €60,499 to €55,669
of which Furniture and vehicles: -€14,606
Equity and liabilities
- Other debts -€56,067
down €56,067 (-24.9%), from €225,014 to €168,947
- Tax, wage and social debts +€6,973
up €6,973 (+67.1%), from €10,386 to €17,359
of which Taxes: +€6,990
Income statement
- Gross operating margin +€95,750
up €95,750 (+72.1%), from €132,751 to €228,501
- Taxes +€24,604
up €24,604 (+101%), from €24,388 to €48,991
- Financial charges -€3,266
down €3,266 (-96.9%), from €3,369 to €103
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
€91,708
Gross operating margin
+€95,750
Depreciation
-€2,161
Other operating charges
-€205
Other operating items
+€589
Financial income
-€184
Financial charges
+€3,266
Taxes
-€24,604
Result 2026
€164,157
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€126,552
Investment
-€9,848
Financing
-€165,294
Cash 2025
€177,048
From operations (derived)
+€126,552
Net result for the year
+€164,157
Depreciation
+€14,678
Receivables within one year
-€2,131
Deferred charges and accrued income
-€14
Trade debts
+€1,275
Tax, wage and social debts
+€6,973
Other debts
-€56,067
Accrued charges and deferred income
-€2,318
Investment (derived)
-€9,848
Investment in fixed assets (net)
-€9,848
Financing
-€165,294
Short-term financial debts
-€1,137
Contributions, distributions and other
-€164,157
Cash 2026
€128,458
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €261,510 | €210,236 | -€51,274 | -19.6% |
| Fixed assets | 21/28 | €60,499 | €55,669 | -€4,829 | -8.0% |
| Tangible fixed assets | 22/27 | €60,499 | €55,669 | -€4,829 | -8.0% |
| Furniture and vehicles | 24 | €60,499 | €45,893 | -€14,606 | -24.1% |
| Other tangible fixed assets | 26 | - | €9,777 | +€9,777 | |
| Current assets | 29/58 | €201,012 | €154,567 | -€46,445 | -23.1% |
| Amounts receivable within one year | 40/41 | €23,684 | €25,815 | +€2,131 | +9.0% |
| Trade receivables | 40 | €19,686 | €24,626 | +€4,940 | +25.1% |
| Other amounts receivable | 41 | €3,998 | €1,189 | -€2,809 | -70.3% |
| Cash at bank and in hand | 54/58 | €177,048 | €128,458 | -€48,590 | -27.4% |
| Deferred charges and accrued income | 490/1 | €280 | €294 | +€14 | +5.2% |
| Total equity and liabilities | 10/49 | €261,510 | €210,236 | -€51,274 | -19.6% |
| Equity | 10/15 | €18,600 | €18,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €242,910 | €191,636 | -€51,274 | -21.1% |
| Amounts payable within one year | 42/48 | €239,880 | €190,924 | -€48,956 | -20.4% |
| Financial debts | 43 | €1,306 | €169 | -€1,137 | -87.1% |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | €1,306 | €169 | -€1,137 | -87.1% |
| Trade debts | 44 | €3,175 | €4,450 | +€1,275 | +40.2% |
| Suppliers | 440/4 | €3,175 | €4,450 | +€1,275 | +40.2% |
| Taxes, remuneration and social security | 45 | €10,386 | €17,359 | +€6,973 | +67.1% |
| Taxes | 450/3 | €7,795 | €14,785 | +€6,990 | +89.7% |
| Remuneration and social security | 454/9 | €2,591 | €2,574 | -€17 | -0.7% |
| Other amounts payable | 47/48 | €225,014 | €168,947 | -€56,067 | -24.9% |
| Accrued charges and deferred income | 492/3 | €3,031 | €712 | -€2,318 | -76.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,516 | €14,678 | +€2,161 | +17.3% |
| Other operating charges | 640/8 | €966 | €1,171 | +€205 | +21.3% |
| Non-recurring operating charges | 66A | €589 | €0 | -€589 | -100% |
| Gross operating margin | 9900 | €132,751 | €228,501 | +€95,750 | +72.1% |
| Operating profit (loss) | 9901 | €118,680 | €212,652 | +€93,972 | +79.2% |
| Financial income | 75/76B | €784 | €600 | -€184 | -23.5% |
| Recurring financial income | 75 | €784 | €600 | -€184 | -23.5% |
| Financial charges | 65/66B | €3,369 | €103 | -€3,266 | -96.9% |
| Recurring financial charges | 65 | €3,369 | €103 | -€3,266 | -96.9% |
| Profit (loss) for the period before taxes | 9903 | €116,096 | €213,149 | +€97,053 | +83.6% |
| Income taxes | 67/77 | €24,388 | €48,991 | +€24,604 | +101% |
| Profit (loss) for the period | 9904 | €91,708 | €164,157 | +€72,449 | +79.0% |
| Profit (loss) for the period to be appropriated | 9905 | €91,708 | €164,157 | +€72,449 | +79.0% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.