PADEL PROJECT: 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.
PADEL PROJECT
Largest movements
- Current investments +€180,000
new in 2025: €180,000
- Cash -€79,506
down €79,506 (-64.0%), from €124,254 to €44,748
mainly Current investments (-€180,000) and Investment in fixed assets (net) (-€35,029)
- Tangible fixed assets -€23,561
down €23,561 (-4.9%), from €482,811 to €459,250
of which Land and buildings: -€29,948
- Reserves +€70,203
up €70,203 (+66.9%), from €104,983 to €175,185
- Gross operating margin +€56,438
up €56,438 (+58.4%), from €96,679 to €153,117
- Depreciation +€25,741
up €25,741 (+78.4%), from €32,849 to €58,591
- Taxes +€12,664
up €12,664 (+99.0%), from €12,787 to €25,450
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 | €614,964 | €693,935 | +€78,971 | +12.8% |
| Fixed assets | 21/28 | €482,811 | €459,250 | -€23,561 | -4.9% |
| Tangible fixed assets | 22/27 | €482,811 | €459,250 | -€23,561 | -4.9% |
| Land and buildings | 22 | €482,190 | €452,242 | -€29,948 | -6.2% |
| Plant, machinery and equipment | 23 | €622 | €7,008 | +€6,387 | +1027.3% |
| Current assets | 29/58 | €132,153 | €234,685 | +€102,532 | +77.6% |
| Amounts receivable within one year | 40/41 | €6,445 | €9,937 | +€3,492 | +54.2% |
| Trade receivables | 40 | €5,995 | €7,686 | +€1,690 | +28.2% |
| Other amounts receivable | 41 | €450 | €2,251 | +€1,801 | +400.1% |
| Current investments | 50/53 | - | €180,000 | +€180,000 | |
| Cash at bank and in hand | 54/58 | €124,254 | €44,748 | -€79,506 | -64.0% |
| Deferred charges and accrued income | 490/1 | €1,454 | - | -€1,454 | |
| Total equity and liabilities | 10/49 | €614,964 | €693,935 | +€78,971 | +12.8% |
| Equity | 10/15 | €599,983 | €670,185 | +€70,203 | +11.7% |
| Contributions | 10/11 | €495,000 | €495,000 | = | 0.0% |
| Reserves | 13 | €104,983 | €175,185 | +€70,203 | +66.9% |
| Distributable reserves | 133 | €104,983 | €175,185 | +€70,203 | +66.9% |
| Amounts payable | 17/49 | €14,982 | €23,750 | +€8,768 | +58.5% |
| Amounts payable within one year | 42/48 | €14,982 | €23,660 | +€8,678 | +57.9% |
| Trade debts | 44 | €1,331 | €7,899 | +€6,568 | +493.4% |
| Suppliers | 440/4 | €1,331 | €7,899 | +€6,568 | +493.4% |
| Taxes, remuneration and social security | 45 | €13,651 | €15,761 | +€2,111 | +15.5% |
| Taxes | 450/3 | €13,651 | €15,761 | +€2,111 | +15.5% |
| Accrued charges and deferred income | 492/3 | - | €90 | +€90 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,849 | €58,591 | +€25,741 | +78.4% |
| Other operating charges | 640/8 | €197 | €178 | -€19 | -9.6% |
| Gross operating margin | 9900 | €96,679 | €153,117 | +€56,438 | +58.4% |
| Operating profit (loss) | 9901 | €63,633 | €94,349 | +€30,716 | +48.3% |
| Financial income | 75/76B | - | €1,459 | +€1,459 | |
| Recurring financial income | 75 | - | €1,459 | +€1,459 | |
| Financial charges | 65/66B | €118 | €155 | +€37 | +31.4% |
| Recurring financial charges | 65 | €118 | €155 | +€37 | +31.4% |
| Profit (loss) for the period before taxes | 9903 | €63,515 | €95,653 | +€32,138 | +50.6% |
| Income taxes | 67/77 | €12,787 | €25,450 | +€12,664 | +99.0% |
| Profit (loss) for the period | 9904 | €50,728 | €70,203 | +€19,474 | +38.4% |
| Profit (loss) for the period to be appropriated | 9905 | €50,728 | €70,203 | +€19,474 | +38.4% |
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 1 October 2026 via checked.be.