PADIX: 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.
PADIX
Largest movements
- Cash +€36,511
up €36,511 (+88.3%), from €41,326 to €77,837
mainly Net result for the year (+€55,365) and Other debts (+€26,294)
- Tangible fixed assets -€14,852
down €14,852 (-33.3%), from €44,651 to €29,799
of which Furniture and vehicles: -€14,132
- Receivables within one year +€3,330
up €3,330 (+61.1%), from €5,450 to €8,780
- Debts after one year -€36,429
down €36,429 (-29.3%), from €124,316 to €87,887
of which Financial debts: -€21,429
- Reserves +€31,250
up €31,250 (+47.2%), from €66,250 to €97,500
- Other debts +€26,294
up €26,294 (+3049.6%), from €862 to €27,156
- Gross operating margin +€26,737
up €26,737 (+36.0%), from €74,235 to €100,972
- Taxes +€7,230
up €7,230 (+49.7%), from €14,548 to €21,778
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 | €249,507 | €276,703 | +€27,197 | +10.9% |
| Fixed assets | 21/28 | €200,651 | €185,799 | -€14,852 | -7.4% |
| Tangible fixed assets | 22/27 | €44,651 | €29,799 | -€14,852 | -33.3% |
| Furniture and vehicles | 24 | €39,731 | €25,599 | -€14,132 | -35.6% |
| Other tangible fixed assets | 26 | €4,920 | €4,199 | -€721 | -14.6% |
| Financial fixed assets | 28 | €156,000 | €156,000 | = | 0.0% |
| Current assets | 29/58 | €48,856 | €90,905 | +€42,049 | +86.1% |
| Amounts receivable within one year | 40/41 | €5,450 | €8,780 | +€3,330 | +61.1% |
| Other amounts receivable | 41 | €5,450 | €8,780 | +€3,330 | +61.1% |
| Cash at bank and in hand | 54/58 | €41,326 | €77,837 | +€36,511 | +88.3% |
| Deferred charges and accrued income | 490/1 | €2,080 | €4,288 | +€2,208 | +106.2% |
| Total equity and liabilities | 10/49 | €249,507 | €276,703 | +€27,197 | +10.9% |
| Equity | 10/15 | €87,683 | €119,048 | +€31,365 | +35.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €66,250 | €97,500 | +€31,250 | +47.2% |
| Distributable reserves | 133 | €66,250 | €97,500 | +€31,250 | +47.2% |
| Profit (loss) carried forward | 14 | €2,841 | €2,956 | +€115 | +4.0% |
| Amounts payable | 17/49 | €161,823 | €157,655 | -€4,168 | -2.6% |
| Amounts payable after more than one year | 17 | €124,316 | €87,887 | -€36,429 | -29.3% |
| Financial debts | 170/4 | €94,316 | €72,887 | -€21,429 | -22.7% |
| Other amounts payable | 178/9 | €30,000 | €15,000 | -€15,000 | -50.0% |
| Amounts payable within one year | 42/48 | €36,008 | €67,143 | +€31,136 | +86.5% |
| Current portion of amounts payable after more than one year | 42 | €20,870 | €21,429 | +€559 | +2.7% |
| Financial debts | 43 | €1,201 | €1,197 | -€4 | -0.3% |
| Credit institutions | 430/8 | €1,201 | €1,197 | -€4 | -0.3% |
| Trade debts | 44 | €3,846 | €6,244 | +€2,399 | +62.4% |
| Suppliers | 440/4 | €3,846 | €6,244 | +€2,399 | +62.4% |
| Taxes, remuneration and social security | 45 | €9,229 | €11,118 | +€1,888 | +20.5% |
| Taxes | 450/3 | €9,229 | €11,118 | +€1,888 | +20.5% |
| Other amounts payable | 47/48 | €862 | €27,156 | +€26,294 | +3049.6% |
| Accrued charges and deferred income | 492/3 | €1,500 | €2,625 | +€1,125 | +75.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,852 | €14,852 | -€0 | 0.0% |
| Other operating charges | 640/8 | €1,318 | €1,738 | +€420 | +31.9% |
| Gross operating margin | 9900 | €74,235 | €100,972 | +€26,737 | +36.0% |
| Operating profit (loss) | 9901 | €58,065 | €84,382 | +€26,317 | +45.3% |
| Financial charges | 65/66B | €7,048 | €7,239 | +€191 | +2.7% |
| Recurring financial charges | 65 | €7,048 | €7,239 | +€191 | +2.7% |
| Profit (loss) for the period before taxes | 9903 | €51,017 | €77,142 | +€26,126 | +51.2% |
| Income taxes | 67/77 | €14,548 | €21,778 | +€7,230 | +49.7% |
| Profit (loss) for the period | 9904 | €36,469 | €55,365 | +€18,895 | +51.8% |
| Profit (loss) for the period to be appropriated | 9905 | €36,469 | €55,365 | +€18,895 | +51.8% |
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 7 October 2026 via checked.be.