Padmore: 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.
Padmore
Largest movements
- Cash +€40,741
up €40,741 (+75.4%), from €54,024 to €94,765
mainly Net result for the year (+€31,075) and Depreciation (+€10,742)
- Receivables within one year -€10,198
down €10,198 (-33.4%), from €30,487 to €20,289
of which Trade receivables: -€13,443
- Tangible fixed assets -€7,446
down €7,446 (-15.6%), from €47,613 to €40,167
of which Leasing and similar rights: -€9,646
- Reserves +€31,075
up €31,075 (+40.2%), from €77,257 to €108,332
- Debts after one year -€6,351
down €6,351 (-23.4%), from €27,124 to €20,774
- Depreciation +€8,268
up €8,268 (+334.1%), from €2,475 to €10,742
- Taxes -€4,458
down €4,458 (-32.8%), from €13,601 to €9,143
- Other operating charges -€1,415
down €1,415 (-53.9%), from €2,624 to €1,210
- Gross operating margin -€815
down €815 (-1.5%), from €54,316 to €53,501
- Financial charges +€699
up €699 (+110.6%), from €632 to €1,331
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 | €173,039 | €196,529 | +€23,490 | +13.6% |
| Fixed assets | 21/28 | €47,613 | €40,167 | -€7,446 | -15.6% |
| Tangible fixed assets | 22/27 | €47,613 | €40,167 | -€7,446 | -15.6% |
| Plant, machinery and equipment | 23 | €1,212 | €567 | -€644 | -53.2% |
| Furniture and vehicles | 24 | - | €2,845 | +€2,845 | |
| Leasing and similar rights | 25 | €46,401 | €36,755 | -€9,646 | -20.8% |
| Current assets | 29/58 | €125,426 | €156,361 | +€30,935 | +24.7% |
| Amounts receivable within one year | 40/41 | €30,487 | €20,289 | -€10,198 | -33.4% |
| Trade receivables | 40 | €29,944 | €16,500 | -€13,443 | -44.9% |
| Other amounts receivable | 41 | €543 | €3,789 | +€3,246 | +597.6% |
| Current investments | 50/53 | €40,000 | €40,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €54,024 | €94,765 | +€40,741 | +75.4% |
| Deferred charges and accrued income | 490/1 | €916 | €1,307 | +€391 | +42.7% |
| Total equity and liabilities | 10/49 | €173,039 | €196,529 | +€23,490 | +13.6% |
| Equity | 10/15 | €123,457 | €154,532 | +€31,075 | +25.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €77,257 | €108,332 | +€31,075 | +40.2% |
| Distributable reserves | 133 | €77,257 | €108,332 | +€31,075 | +40.2% |
| Profit (loss) carried forward | 14 | €40,000 | €40,000 | = | 0.0% |
| Amounts payable | 17/49 | €49,582 | €41,996 | -€7,586 | -15.3% |
| Amounts payable after more than one year | 17 | €27,124 | €20,774 | -€6,351 | -23.4% |
| Financial debts | 170/4 | €27,124 | €20,774 | -€6,351 | -23.4% |
| Amounts payable within one year | 42/48 | €22,453 | €21,223 | -€1,230 | -5.5% |
| Current portion of amounts payable after more than one year | 42 | €6,100 | €6,351 | +€251 | +4.1% |
| Trade debts | 44 | €2,702 | €1,693 | -€1,010 | -37.4% |
| Suppliers | 440/4 | €2,702 | €1,693 | -€1,010 | -37.4% |
| Taxes, remuneration and social security | 45 | €13,651 | €13,179 | -€471 | -3.5% |
| Taxes | 450/3 | €13,651 | €10,520 | -€3,131 | -22.9% |
| Remuneration and social security | 454/9 | - | €2,659 | +€2,659 | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €5 | €0 | -€5 | -100.0% |
| Non-recurring operating income | 76A | €3,847 | €0 | -€3,847 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,475 | €10,742 | +€8,268 | +334.1% |
| Other operating charges | 640/8 | €2,624 | €1,210 | -€1,415 | -53.9% |
| Gross operating margin | 9900 | €54,316 | €53,501 | -€815 | -1.5% |
| Operating profit (loss) | 9901 | €49,217 | €41,549 | -€7,668 | -15.6% |
| Financial income | 75/76B | €65 | €0 | -€65 | -100.0% |
| Recurring financial income | 75 | €65 | €0 | -€65 | -100.0% |
| Financial charges | 65/66B | €632 | €1,331 | +€699 | +110.6% |
| Recurring financial charges | 65 | €632 | €1,331 | +€699 | +110.6% |
| Profit (loss) for the period before taxes | 9903 | €48,650 | €40,218 | -€8,432 | -17.3% |
| Income taxes | 67/77 | €13,601 | €9,143 | -€4,458 | -32.8% |
| Profit (loss) for the period | 9904 | €35,049 | €31,075 | -€3,974 | -11.3% |
| Profit (loss) for the period to be appropriated | 9905 | €35,049 | €31,075 | -€3,974 | -11.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.