PADECOR: 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.
PADECOR
Largest movements
- Stocks and contracts +€189,364
up €189,364 (+320.0%), from €59,178 to €248,542
- Receivables within one year -€73,709
down €73,709 (-69.6%), from €105,980 to €32,270
of which Trade receivables: -€87,897
- Tangible fixed assets -€26,784
down €26,784 (-13.2%), from €202,298 to €175,514
of which Furniture and vehicles: -€17,600
- Debts after one year +€171,807
up €171,807 (+142.7%), from €120,399 to €292,206
- Advances received -€109,227
down €109,227 (-100.0%), from €109,227 to €0
- Short-term financial debts +€35,000
up €35,000 (+700.0%), from €5,000 to €40,000
- Current portion of long-term debt +€10,299
up €10,299 (+19.5%), from €52,759 to €63,059
- Tax, wage and social debts -€9,265
down €9,265 (-41.5%), from €22,316 to €13,051
of which Taxes: -€9,194
- Gross operating margin -€43,814
down €43,814 (-24.4%), from €179,679 to €135,866
- Depreciation -€23,397
down €23,397 (-41.2%), from €56,775 to €33,379
- Staff costs -€4,673
down €4,673 (-5.8%), from €80,006 to €75,334
- Financial charges +€3,917
up €3,917 (+46.8%), from €8,376 to €12,293
- Taxes -€3,889
down €3,889 (-38.6%), from €10,077 to €6,188
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 | €392,509 | €492,410 | +€99,902 | +25.5% |
| Fixed assets | 21/28 | €204,528 | €180,639 | -€23,890 | -11.7% |
| Intangible fixed assets | 21 | - | €2,895 | +€2,895 | |
| Tangible fixed assets | 22/27 | €202,298 | €175,514 | -€26,784 | -13.2% |
| Plant, machinery and equipment | 23 | €36,047 | €31,442 | -€4,605 | -12.8% |
| Furniture and vehicles | 24 | €148,784 | €131,184 | -€17,600 | -11.8% |
| Other tangible fixed assets | 26 | €17,468 | €12,888 | -€4,579 | -26.2% |
| Financial fixed assets | 28 | €2,230 | €2,230 | = | 0.0% |
| Current assets | 29/58 | €187,981 | €311,772 | +€123,791 | +65.9% |
| Stocks and contracts in progress | 3 | €59,178 | €248,542 | +€189,364 | +320.0% |
| Stocks | 30/36 | €59,178 | €248,542 | +€189,364 | +320.0% |
| Amounts receivable within one year | 40/41 | €105,980 | €32,270 | -€73,709 | -69.6% |
| Trade receivables | 40 | €103,192 | €15,295 | -€87,897 | -85.2% |
| Other amounts receivable | 41 | €2,788 | €16,975 | +€14,187 | +508.9% |
| Cash at bank and in hand | 54/58 | €15,949 | €19,464 | +€3,515 | +22.0% |
| Deferred charges and accrued income | 490/1 | €6,874 | €11,495 | +€4,622 | +67.2% |
| Total equity and liabilities | 10/49 | €392,509 | €492,410 | +€99,902 | +25.5% |
| Equity | 10/15 | €59,789 | €68,429 | +€8,640 | +14.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €41,062 | €49,702 | +€8,640 | +21.0% |
| Tax-exempt reserves | 132 | €342 | €342 | = | 0.0% |
| Distributable reserves | 133 | €40,720 | €49,360 | +€8,640 | +21.2% |
| Profit (loss) carried forward | 14 | €127 | €127 | = | 0.0% |
| Amounts payable | 17/49 | €332,720 | €423,982 | +€91,262 | +27.4% |
| Amounts payable after more than one year | 17 | €120,399 | €292,206 | +€171,807 | +142.7% |
| Financial debts | 170/4 | €120,399 | €292,206 | +€171,807 | +142.7% |
| Amounts payable within one year | 42/48 | €212,108 | €131,622 | -€80,487 | -37.9% |
| Current portion of amounts payable after more than one year | 42 | €52,759 | €63,059 | +€10,299 | +19.5% |
| Financial debts | 43 | €5,000 | €40,000 | +€35,000 | +700.0% |
| Credit institutions | 430/8 | €5,000 | €40,000 | +€35,000 | +700.0% |
| Trade debts | 44 | €16,806 | €15,512 | -€1,294 | -7.7% |
| Suppliers | 440/4 | €16,806 | €15,512 | -€1,294 | -7.7% |
| Advances received on contracts in progress | 46 | €109,227 | €0 | -€109,227 | -100.0% |
| Taxes, remuneration and social security | 45 | €22,316 | €13,051 | -€9,265 | -41.5% |
| Taxes | 450/3 | €20,700 | €11,506 | -€9,194 | -44.4% |
| Remuneration and social security | 454/9 | €1,616 | €1,545 | -€72 | -4.4% |
| Other amounts payable | 47/48 | €6,000 | €0 | -€6,000 | -100.0% |
| Accrued charges and deferred income | 492/3 | €213 | €154 | -€59 | -27.6% |
| Remuneration, social security and pensions | 62 | €80,006 | €75,334 | -€4,673 | -5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,775 | €33,379 | -€23,397 | -41.2% |
| Other operating charges | 640/8 | €1,683 | €1,569 | -€114 | -6.8% |
| Gross operating margin | 9900 | €179,679 | €135,866 | -€43,814 | -24.4% |
| Operating profit (loss) | 9901 | €41,215 | €25,584 | -€15,631 | -37.9% |
| Financial income | 75/76B | €2,812 | €1,537 | -€1,274 | -45.3% |
| Recurring financial income | 75 | €2,812 | €1,537 | -€1,274 | -45.3% |
| Financial charges | 65/66B | €8,376 | €12,293 | +€3,917 | +46.8% |
| Recurring financial charges | 65 | €8,376 | €12,293 | +€3,917 | +46.8% |
| Profit (loss) for the period before taxes | 9903 | €35,650 | €14,828 | -€20,822 | -58.4% |
| Income taxes | 67/77 | €10,077 | €6,188 | -€3,889 | -38.6% |
| Profit (loss) for the period | 9904 | €25,573 | €8,640 | -€16,933 | -66.2% |
| Profit (loss) for the period to be appropriated | 9905 | €25,573 | €8,640 | -€16,933 | -66.2% |
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 29 September 2026 via checked.be.