PADO: 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.
PADO
Largest movements
- Receivables within one year +€61,476
up €61,476 (+43.2%), from €142,432 to €203,908
of which Trade receivables: +€37,617
- Tangible fixed assets -€13,785
down €13,785 (-40.2%), from €34,264 to €20,479
of which Furniture and vehicles: -€13,785
- Cash -€10,847
down €10,847 (-66.1%), from €16,415 to €5,568
mainly Net result for the year (-€78,836) and Receivables within one year (-€61,476)
- Other debts +€91,100
up €91,100 (+278.4%), from €32,726 to €123,826
- Profit (loss) carried forward -€78,836
down €78,836 (-94.4%), from -€83,521 to -€162,357
- Trade debts +€19,634
up €19,634 (+34.1%), from €57,502 to €77,136
- Tax, wage and social debts +€13,437
up €13,437 (+12.8%), from €105,137 to €118,573
of which Remuneration and social security: +€6,936
- Debts after one year -€6,086
down €6,086 (-40.6%), from €14,978 to €8,892
- Gross operating margin -€36,319
down €36,319 (-20.3%), from €178,622 to €142,303
- Other operating charges +€13,490
up €13,490 (+220.8%), from €6,109 to €19,599
- Financial charges -€5,005
down €5,005 (-58.7%), from €8,531 to €3,526
- Staff costs -€3,635
down €3,635 (-1.9%), from €188,102 to €184,467
- Depreciation +€3,556
up €3,556 (+34.8%), from €10,229 to €13,785
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €225,929 | €263,158 | +€37,229 | +16.5% |
| Fixed assets | 21/28 | €34,264 | €20,479 | -€13,785 | -40.2% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €34,264 | €20,479 | -€13,785 | -40.2% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €34,264 | €20,479 | -€13,785 | -40.2% |
| Current assets | 29/58 | €191,665 | €242,678 | +€51,013 | +26.6% |
| Stocks and contracts in progress | 3 | €30,380 | €30,380 | = | 0.0% |
| Stocks | 30/36 | €30,380 | €30,380 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €142,432 | €203,908 | +€61,476 | +43.2% |
| Trade receivables | 40 | €110,291 | €147,908 | +€37,617 | +34.1% |
| Other amounts receivable | 41 | €32,141 | €56,000 | +€23,859 | +74.2% |
| Cash at bank and in hand | 54/58 | €16,415 | €5,568 | -€10,847 | -66.1% |
| Deferred charges and accrued income | 490/1 | €2,437 | €2,822 | +€385 | +15.8% |
| Total equity and liabilities | 10/49 | €225,929 | €263,158 | +€37,229 | +16.5% |
| Equity | 10/15 | €5,454 | -€73,382 | -€78,836 | |
| Contributions | 10/11 | €43,381 | €43,381 | = | 0.0% |
| Reserves | 13 | €45,594 | €45,594 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,214 | €1,214 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,214 | €1,214 | = | 0.0% |
| Distributable reserves | 133 | €44,380 | €44,380 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€83,521 | -€162,357 | -€78,836 | -94.4% |
| Amounts payable | 17/49 | €220,475 | €336,540 | +€116,065 | +52.6% |
| Amounts payable after more than one year | 17 | €14,978 | €8,892 | -€6,086 | -40.6% |
| Financial debts | 170/4 | €14,978 | €8,892 | -€6,086 | -40.6% |
| Amounts payable within one year | 42/48 | €205,240 | €325,621 | +€120,381 | +58.7% |
| Current portion of amounts payable after more than one year | 42 | €5,933 | €6,086 | +€153 | +2.6% |
| Financial debts | 43 | €3,943 | - | -€3,943 | |
| Credit institutions | 430/8 | €3,943 | - | -€3,943 | |
| Trade debts | 44 | €57,502 | €77,136 | +€19,634 | +34.1% |
| Suppliers | 440/4 | €57,502 | €77,136 | +€19,634 | +34.1% |
| Taxes, remuneration and social security | 45 | €105,137 | €118,573 | +€13,437 | +12.8% |
| Taxes | 450/3 | €54,054 | €60,555 | +€6,501 | +12.0% |
| Remuneration and social security | 454/9 | €51,082 | €58,018 | +€6,936 | +13.6% |
| Other amounts payable | 47/48 | €32,726 | €123,826 | +€91,100 | +278.4% |
| Accrued charges and deferred income | 492/3 | €256 | €2,026 | +€1,770 | +690.9% |
| Remuneration, social security and pensions | 62 | €188,102 | €184,467 | -€3,635 | -1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,229 | €13,785 | +€3,556 | +34.8% |
| Other operating charges | 640/8 | €6,109 | €19,599 | +€13,490 | +220.8% |
| Non-recurring operating charges | 66A | €605 | - | -€605 | |
| Gross operating margin | 9900 | €178,622 | €142,303 | -€36,319 | -20.3% |
| Operating profit (loss) | 9901 | -€26,423 | -€75,548 | -€49,125 | -185.9% |
| Financial income | 75/76B | €104 | €544 | +€440 | +421.7% |
| Recurring financial income | 75 | €104 | €544 | +€440 | +421.7% |
| Financial charges | 65/66B | €8,531 | €3,526 | -€5,005 | -58.7% |
| Recurring financial charges | 65 | €8,531 | €3,526 | -€5,005 | -58.7% |
| Profit (loss) for the period before taxes | 9903 | -€34,850 | -€78,529 | -€43,680 | -125.3% |
| Income taxes | 67/77 | €134 | €307 | +€173 | +128.7% |
| Profit (loss) for the period | 9904 | -€34,984 | -€78,836 | -€43,852 | -125.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€34,984 | -€78,836 | -€43,852 | -125.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.