PADO GROUP: what changed
Two financial 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 GROUP
Largest movements
- Financial fixed assets +€285,884
up €285,884 (+3.7%), from €7.6m to €7.9m
- Debts after one year +€251,689
up €251,689 (+4.6%), from €5.5m to €5.7m
of which Other amounts payable: +€295,552
- Profit (loss) carried forward +€138,545
up €138,545 (+20.1%), from €689,989 to €828,534
- Short-term financial debts -€113,352
down €113,352 (-10.2%), from €1.1m to €1.0m
of which Credit institutions: -€113,352
- Gross operating margin -€8,288
down €8,288 (-3.0%), from €280,160 to €271,872
- Financial charges -€6,765
down €6,765 (-21.1%), from €32,123 to €25,358
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.
Derived cash bridge
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 | €7,654,438 | €7,936,155 | +€281,717 | +3.7% |
| Fixed assets | 21/28 | €7,644,747 | €7,930,631 | +€285,884 | +3.7% |
| Financial fixed assets | 28 | €7,644,747 | €7,930,631 | +€285,884 | +3.7% |
| Current assets | 29/58 | €9,690 | €5,524 | -€4,167 | -43.0% |
| Amounts receivable within one year | 40/41 | €2,516 | €2,516 | = | 0.0% |
| Other amounts receivable | 41 | €2,516 | €2,516 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €6,943 | €2,765 | -€4,178 | -60.2% |
| Deferred charges and accrued income | 490/1 | €231 | €243 | +€11 | +4.8% |
| Total equity and liabilities | 10/49 | €7,654,438 | €7,936,155 | +€281,717 | +3.7% |
| Equity | 10/15 | €722,989 | €861,534 | +€138,545 | +19.2% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €3,000 | €3,000 | = | 0.0% |
| Distributable reserves | 133 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €689,989 | €828,534 | +€138,545 | +20.1% |
| Amounts payable | 17/49 | €6,931,449 | €7,074,621 | +€143,172 | +2.1% |
| Amounts payable after more than one year | 17 | €5,464,307 | €5,715,996 | +€251,689 | +4.6% |
| Financial debts | 170/4 | €470,525 | €426,662 | -€43,863 | -9.3% |
| Other amounts payable | 178/9 | €4,993,782 | €5,289,334 | +€295,552 | +5.9% |
| Amounts payable within one year | 42/48 | €1,467,142 | €1,358,625 | -€108,516 | -7.4% |
| Current portion of amounts payable after more than one year | 42 | €43,194 | €43,863 | +€670 | +1.5% |
| Financial debts | 43 | €1,113,352 | €1,000,000 | -€113,352 | -10.2% |
| Credit institutions | 430/8 | €113,352 | €0 | -€113,352 | -100% |
| Other loans | 439 | €1,000,000 | €1,000,000 | = | 0.0% |
| Trade debts | 44 | €4,503 | €3,336 | -€1,167 | -25.9% |
| Suppliers | 440/4 | €4,503 | €3,336 | -€1,167 | -25.9% |
| Taxes, remuneration and social security | 45 | €38,039 | €36,871 | -€1,167 | -3.1% |
| Taxes | 450/3 | €32,607 | €30,086 | -€2,520 | -7.7% |
| Remuneration and social security | 454/9 | €5,432 | €6,785 | +€1,353 | +24.9% |
| Other amounts payable | 47/48 | €268,054 | €274,554 | +€6,500 | +2.4% |
| Non-recurring operating income | 76A | €1,250 | €0 | -€1,250 | -100% |
| Remuneration, social security and pensions | 62 | €54,036 | €56,804 | +€2,768 | +5.1% |
| Other operating charges | 640/8 | €87 | €1,078 | +€991 | +1,142% |
| Gross operating margin | 9900 | €280,160 | €271,872 | -€8,288 | -3.0% |
| Operating profit (loss) | 9901 | €226,037 | €213,990 | -€12,047 | -5.3% |
| Financial income | 75/76B | €1,032 | €0 | -€1,032 | -100% |
| Recurring financial income | 75 | €1,032 | €0 | -€1,032 | -100% |
| Financial charges | 65/66B | €32,123 | €25,358 | -€6,765 | -21.1% |
| Recurring financial charges | 65 | €32,123 | €25,358 | -€6,765 | -21.1% |
| Profit (loss) for the period before taxes | 9903 | €194,945 | €188,631 | -€6,314 | -3.2% |
| Income taxes | 67/77 | €52,826 | €50,086 | -€2,740 | -5.2% |
| Profit (loss) for the period | 9904 | €142,119 | €138,545 | -€3,574 | -2.5% |
| Profit (loss) for the period to be appropriated | 9905 | €142,119 | €138,545 | -€3,574 | -2.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.