PADECO: what changed
Two financial 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.
PADECO
Largest movements
- Cash -€83,091
down €83,091 (-65.7%), from €126,376 to €43,285
mainly Net result for the year (-€78,218) and Investment in fixed assets (net) (-€42,060)
- Profit (loss) carried forward -€78,218
down €78,218 (-180.1%), from -€43,441 to -€121,659
- Gross operating margin -€30,123
down €30,123 (-2699.2%), from -€1,116 to -€31,239
- Depreciation +€3,108
up €3,108 (+8.6%), from €36,092 to €39,200
- Financial income -€1,643
down €1,643 (-67.6%), from €2,430 to €787
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 | €510,252 | €429,604 | -€80,648 | -15.8% |
| Fixed assets | 21/28 | €382,218 | €385,078 | +€2,860 | +0.7% |
| Tangible fixed assets | 22/27 | €382,218 | €385,078 | +€2,860 | +0.7% |
| Land and buildings | 22 | €341,044 | €359,065 | +€18,021 | +5.3% |
| Plant, machinery and equipment | 23 | €120 | €252 | +€132 | +110.0% |
| Furniture and vehicles | 24 | €41,054 | €25,761 | -€15,293 | -37.3% |
| Current assets | 29/58 | €128,034 | €44,526 | -€83,508 | -65.2% |
| Amounts receivable within one year | 40/41 | €551 | €69 | -€482 | -87.5% |
| Other amounts receivable | 41 | €551 | €69 | -€482 | -87.5% |
| Cash at bank and in hand | 54/58 | €126,376 | €43,285 | -€83,091 | -65.7% |
| Deferred charges and accrued income | 490/1 | €1,107 | €1,172 | +€65 | +5.9% |
| Total equity and liabilities | 10/49 | €510,252 | €429,604 | -€80,648 | -15.8% |
| Equity | 10/15 | €89,499 | €11,281 | -€78,218 | -87.4% |
| Contributions | 10/11 | €93,600 | €93,600 | = | 0.0% |
| Reserves | 13 | €39,340 | €39,340 | = | 0.0% |
| Distributable reserves | 133 | €39,340 | €39,340 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€43,441 | -€121,659 | -€78,218 | -180.1% |
| Amounts payable | 17/49 | €420,753 | €418,323 | -€2,430 | -0.6% |
| Amounts payable after more than one year | 17 | €379,166 | €377,666 | -€1,500 | -0.4% |
| Financial debts | 170/4 | €181,666 | €161,666 | -€20,000 | -11.0% |
| Other amounts payable | 178/9 | €197,500 | €216,000 | +€18,500 | +9.4% |
| Amounts payable within one year | 42/48 | €38,695 | €38,759 | +€64 | +0.2% |
| Current portion of amounts payable after more than one year | 42 | €20,000 | €20,000 | = | 0.0% |
| Trade debts | 44 | €170 | €2,023 | +€1,853 | +1090.0% |
| Suppliers | 440/4 | €170 | €2,023 | +€1,853 | +1090.0% |
| Other amounts payable | 47/48 | €18,525 | €16,736 | -€1,789 | -9.7% |
| Accrued charges and deferred income | 492/3 | €2,892 | €1,898 | -€994 | -34.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,092 | €39,200 | +€3,108 | +8.6% |
| Other operating charges | 640/8 | €5,223 | €5,211 | -€12 | -0.2% |
| Gross operating margin | 9900 | -€1,116 | -€31,239 | -€30,123 | -2699.2% |
| Operating profit (loss) | 9901 | -€42,431 | -€75,650 | -€33,219 | -78.3% |
| Financial income | 75/76B | €2,430 | €787 | -€1,643 | -67.6% |
| Recurring financial income | 75 | €2,430 | €787 | -€1,643 | -67.6% |
| Financial charges | 65/66B | €3,262 | €3,188 | -€74 | -2.3% |
| Recurring financial charges | 65 | €3,262 | €3,188 | -€74 | -2.3% |
| Profit (loss) for the period before taxes | 9903 | -€43,263 | -€78,051 | -€34,788 | -80.4% |
| Income taxes | 67/77 | €178 | €167 | -€11 | -6.2% |
| Profit (loss) for the period | 9904 | -€43,441 | -€78,218 | -€34,777 | -80.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€43,441 | -€78,218 | -€34,777 | -80.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.