PADO - SPENCER: 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 - SPENCER
Largest movements
- Cash +€5,650
up €5,650 (+20.3%), from €27,805 to €33,455
mainly Tax, wage and social debts (+€10,596) and Net result for the year (+€896)
- Receivables within one year +€3,248
up €3,248 (+50.0%), from €6,496 to €9,744
of which Other amounts receivable: +€2,306
- Deferred charges and accrued income +€882
new in 2025: €882
- Stocks and contracts +€552
up €552 (+79.3%), from €696 to €1,248
- Tax, wage and social debts +€10,596
up €10,596 (+187%), from €5,661 to €16,257
of which Taxes: +€5,913
- Trade debts -€1,160
down €1,160 (-72.8%), from €1,593 to €433
- Profit (loss) carried forward +€896
up €896 (+12.1%), from -€7,414 to -€6,517
- Gross operating margin +€16,992
up €16,992 (+90.6%), from €18,760 to €35,752
- Staff costs +€7,996
up €7,996 (+32.6%), from €24,560 to €32,556
- Depreciation -€1,084
no longer reported in 2025 (was €1,084)
- Taxes +€816
no longer reported in 2025 (was -€816)
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 | €34,997 | €45,330 | +€10,332 | +29.5% |
| Current assets | 29/58 | €34,997 | €45,330 | +€10,332 | +29.5% |
| Stocks and contracts in progress | 3 | €696 | €1,248 | +€552 | +79.3% |
| Stocks | 30/36 | €696 | €1,248 | +€552 | +79.3% |
| Amounts receivable within one year | 40/41 | €6,496 | €9,744 | +€3,248 | +50.0% |
| Trade receivables | 40 | €5,307 | €6,249 | +€942 | +17.8% |
| Other amounts receivable | 41 | €1,189 | €3,495 | +€2,306 | +194% |
| Cash at bank and in hand | 54/58 | €27,805 | €33,455 | +€5,650 | +20.3% |
| Deferred charges and accrued income | 490/1 | - | €882 | +€882 | |
| Total equity and liabilities | 10/49 | €34,997 | €45,330 | +€10,332 | +29.5% |
| Equity | 10/15 | €18,698 | €19,594 | +€896 | +4.8% |
| Contributions | 10/11 | €7,252 | €7,252 | = | 0.0% |
| Contributions outside capital | 11 | €7,252 | €7,252 | = | 0.0% |
| Other | 1109/19 | €7,252 | €7,252 | = | 0.0% |
| Reserves | 13 | €18,859 | €18,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €17,000 | €17,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,414 | -€6,517 | +€896 | +12.1% |
| Amounts payable | 17/49 | €16,300 | €25,736 | +€9,436 | +57.9% |
| Amounts payable after more than one year | 17 | €9,046 | €9,046 | = | 0.0% |
| Other amounts payable | 178/9 | €9,046 | €9,046 | = | 0.0% |
| Amounts payable within one year | 42/48 | €7,253 | €16,690 | +€9,436 | +130% |
| Trade debts | 44 | €1,593 | €433 | -€1,160 | -72.8% |
| Suppliers | 440/4 | €1,593 | €433 | -€1,160 | -72.8% |
| Taxes, remuneration and social security | 45 | €5,661 | €16,257 | +€10,596 | +187% |
| Taxes | 450/3 | €4,551 | €10,464 | +€5,913 | +130% |
| Remuneration and social security | 454/9 | €1,109 | €5,793 | +€4,684 | +422% |
| Remuneration, social security and pensions | 62 | €24,560 | €32,556 | +€7,996 | +32.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,084 | - | -€1,084 | |
| Other operating charges | 640/8 | €2,326 | €2,157 | -€169 | -7.3% |
| Gross operating margin | 9900 | €18,760 | €35,752 | +€16,992 | +90.6% |
| Operating profit (loss) | 9901 | -€9,210 | €1,040 | +€10,250 | |
| Financial income | 75/76B | €186 | €0 | -€186 | -100.0% |
| Recurring financial income | 75 | €186 | €0 | -€186 | -100.0% |
| Financial charges | 65/66B | €494 | €144 | -€351 | -70.9% |
| Recurring financial charges | 65 | €494 | €144 | -€351 | -70.9% |
| Profit (loss) for the period before taxes | 9903 | -€9,518 | €896 | +€10,415 | |
| Income taxes | 67/77 | -€816 | - | +€816 | |
| Profit (loss) for the period | 9904 | -€8,702 | €896 | +€9,598 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,702 | €896 | +€9,598 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.