PADESI: 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.
PADESI
Largest movements
- Tangible fixed assets -€57,936
down €57,936 (-4.0%), from €1.4m to €1.4m
of which Land and buildings: -€57,038
- Reserves -€27,559
down €27,559 (-3.7%), from €739,736 to €712,177
of which Tax-exempt reserves: -€27,559
- Debts after one year -€22,176
down €22,176 (-4.2%), from €528,615 to €506,439
of which Financial debts: -€22,176
- Gross operating margin +€12,058
up €12,058 (+28.0%), from €43,020 to €55,078
- Other operating charges -€848
down €848 (-19.0%), from €4,465 to €3,617
- Financial charges -€561
down €561 (-2.8%), from €20,118 to €19,557
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 | €1,482,614 | €1,419,169 | -€63,445 | -4.3% |
| Fixed assets | 21/28 | €1,479,910 | €1,415,700 | -€64,211 | -4.3% |
| Intangible fixed assets | 21 | €35,176 | €28,682 | -€6,494 | -18.5% |
| Tangible fixed assets | 22/27 | €1,444,168 | €1,386,232 | -€57,936 | -4.0% |
| Land and buildings | 22 | €1,442,362 | €1,385,324 | -€57,038 | -4.0% |
| Furniture and vehicles | 24 | €1,806 | €908 | -€898 | -49.7% |
| Financial fixed assets | 28 | €566 | €786 | +€219 | +38.7% |
| Current assets | 29/58 | €2,703 | €3,469 | +€766 | +28.3% |
| Cash at bank and in hand | 54/58 | €2,703 | €3,469 | +€766 | +28.3% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,482,614 | €1,419,169 | -€63,445 | -4.3% |
| Equity | 10/15 | €315,796 | €297,460 | -€18,336 | -5.8% |
| Contributions | 10/11 | €23,600 | €23,600 | = | 0.0% |
| Reserves | 13 | €739,736 | €712,177 | -€27,559 | -3.7% |
| Tax-exempt reserves | 132 | €590,718 | €563,159 | -€27,559 | -4.7% |
| Distributable reserves | 133 | €149,019 | €149,019 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€447,540 | -€438,318 | +€9,223 | +2.1% |
| Provisions and deferred taxes | 16 | €304,173 | €289,983 | -€14,191 | -4.7% |
| Deferred taxes | 168 | €304,173 | €289,983 | -€14,191 | -4.7% |
| Amounts payable | 17/49 | €862,645 | €831,726 | -€30,919 | -3.6% |
| Amounts payable after more than one year | 17 | €528,615 | €506,439 | -€22,176 | -4.2% |
| Financial debts | 170/4 | €528,015 | €505,839 | -€22,176 | -4.2% |
| Other amounts payable | 178/9 | €600 | €600 | = | 0.0% |
| Amounts payable within one year | 42/48 | €331,709 | €322,874 | -€8,835 | -2.7% |
| Current portion of amounts payable after more than one year | 42 | €21,404 | €22,176 | +€772 | +3.6% |
| Trade debts | 44 | €4,672 | €3,505 | -€1,167 | -25.0% |
| Suppliers | 440/4 | €4,672 | €3,505 | -€1,167 | -25.0% |
| Other amounts payable | 47/48 | €305,633 | €297,193 | -€8,440 | -2.8% |
| Accrued charges and deferred income | 492/3 | €2,320 | €2,412 | +€92 | +4.0% |
| Non-recurring operating income | 76A | €4,366 | €0 | -€4,366 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,427 | €64,430 | +€3 | 0.0% |
| Other operating charges | 640/8 | €4,465 | €3,617 | -€848 | -19.0% |
| Non-recurring operating charges | 66A | €9,791 | €0 | -€9,791 | -100.0% |
| Gross operating margin | 9900 | €43,020 | €55,078 | +€12,058 | +28.0% |
| Operating profit (loss) | 9901 | -€35,663 | -€12,969 | +€22,694 | +63.6% |
| Financial income | 75/76B | €44 | €0 | -€44 | -100.0% |
| Recurring financial income | 75 | €44 | €0 | -€44 | -100.0% |
| Financial charges | 65/66B | €20,118 | €19,557 | -€561 | -2.8% |
| Recurring financial charges | 65 | €20,118 | €19,557 | -€561 | -2.8% |
| Profit (loss) for the period before taxes | 9903 | -€55,737 | -€32,526 | +€23,211 | +41.6% |
| Transfer from deferred taxes | 780 | €14,191 | €14,191 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€41,547 | -€18,336 | +€23,211 | +55.9% |
| Transfer from tax-exempt reserves | 789 | €27,559 | €27,559 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,988 | €9,223 | +€23,211 |
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 6 October 2026 via checked.be.