PADOZA: 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.
PADOZA
Largest movements
- Cash +€69,993
up €69,993 (+131%), from €53,381 to €123,374
mainly Debts after one year (+€45,795) and Net result for the year (+€40,143)
- Intangible fixed assets +€29,992
new in 2025: €29,992
- Receivables within one year -€15,902
down €15,902 (-15.6%), from €102,145 to €86,243
of which Trade receivables: -€19,576
- Stocks and contracts +€15,801
up €15,801 (+10.4%), from €152,407 to €168,208
- Tangible fixed assets -€13,920
down €13,920 (-21.9%), from €63,560 to €49,640
of which Furniture and vehicles: -€7,919
- Debts after one year +€45,795
up €45,795 (+96.4%), from €47,507 to €93,302
of which Financial debts: +€45,795
- Reserves +€40,143
up €40,143 (+18.5%), from €217,173 to €257,316
- Tax, wage and social debts -€18,380
down €18,380 (-32.5%), from €56,515 to €38,134
of which Taxes: -€18,028
- Current portion of long-term debt +€14,547
up €14,547 (+99.2%), from €14,659 to €29,205
- Trade debts +€4,951
up €4,951 (+20.7%), from €23,969 to €28,920
- Gross operating margin -€62,938
down €62,938 (-35.1%), from €179,348 to €116,411
- Staff costs -€41,458
down €41,458 (-48.1%), from €86,152 to €44,693
- Depreciation -€9,330
down €9,330 (-37.7%), from €24,761 to €15,430
- Taxes -€8,825
down €8,825 (-35.1%), from €25,151 to €16,326
- Financial income -€4,025
down €4,025 (-42.6%), from €9,438 to €5,413
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 | €379,527 | €466,583 | +€87,056 | +22.9% |
| Fixed assets | 21/28 | €69,660 | €85,732 | +€16,072 | +23.1% |
| Intangible fixed assets | 21 | - | €29,992 | +€29,992 | |
| Tangible fixed assets | 22/27 | €63,560 | €49,640 | -€13,920 | -21.9% |
| Plant, machinery and equipment | 23 | €2,919 | €2,529 | -€390 | -13.3% |
| Furniture and vehicles | 24 | €41,730 | €33,811 | -€7,919 | -19.0% |
| Leasing and similar rights | 25 | €18,912 | €13,300 | -€5,612 | -29.7% |
| Financial fixed assets | 28 | €6,100 | €6,100 | = | 0.0% |
| Current assets | 29/58 | €309,867 | €380,851 | +€70,984 | +22.9% |
| Stocks and contracts in progress | 3 | €152,407 | €168,208 | +€15,801 | +10.4% |
| Stocks | 30/36 | €152,407 | €168,208 | +€15,801 | +10.4% |
| Amounts receivable within one year | 40/41 | €102,145 | €86,243 | -€15,902 | -15.6% |
| Trade receivables | 40 | €102,145 | €82,569 | -€19,576 | -19.2% |
| Other amounts receivable | 41 | - | €3,674 | +€3,674 | |
| Cash at bank and in hand | 54/58 | €53,381 | €123,374 | +€69,993 | +131% |
| Deferred charges and accrued income | 490/1 | €1,934 | €3,026 | +€1,092 | +56.5% |
| Total equity and liabilities | 10/49 | €379,527 | €466,583 | +€87,056 | +22.9% |
| Equity | 10/15 | €236,878 | €277,021 | +€40,143 | +16.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €217,173 | €257,316 | +€40,143 | +18.5% |
| Distributable reserves | 133 | €217,173 | €257,316 | +€40,143 | +18.5% |
| Profit (loss) carried forward | 14 | €1,113 | €1,113 | = | 0.0% |
| Amounts payable | 17/49 | €142,650 | €189,562 | +€46,913 | +32.9% |
| Amounts payable after more than one year | 17 | €47,507 | €93,302 | +€45,795 | +96.4% |
| Financial debts | 170/4 | €42,019 | €87,814 | +€45,795 | +109% |
| Other amounts payable | 178/9 | €5,488 | €5,488 | = | 0.0% |
| Amounts payable within one year | 42/48 | €95,142 | €96,260 | +€1,118 | +1.2% |
| Current portion of amounts payable after more than one year | 42 | €14,659 | €29,205 | +€14,547 | +99.2% |
| Trade debts | 44 | €23,969 | €28,920 | +€4,951 | +20.7% |
| Suppliers | 440/4 | €23,969 | €28,920 | +€4,951 | +20.7% |
| Taxes, remuneration and social security | 45 | €56,515 | €38,134 | -€18,380 | -32.5% |
| Taxes | 450/3 | €48,520 | €30,493 | -€18,028 | -37.2% |
| Remuneration and social security | 454/9 | €7,994 | €7,642 | -€353 | -4.4% |
| Remuneration, social security and pensions | 62 | €86,152 | €44,693 | -€41,458 | -48.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,761 | €15,430 | -€9,330 | -37.7% |
| Other operating charges | 640/8 | €1,403 | €1,281 | -€121 | -8.7% |
| Gross operating margin | 9900 | €179,348 | €116,411 | -€62,938 | -35.1% |
| Operating profit (loss) | 9901 | €67,033 | €55,005 | -€12,028 | -17.9% |
| Financial income | 75/76B | €9,438 | €5,413 | -€4,025 | -42.6% |
| Recurring financial income | 75 | €9,438 | €5,413 | -€4,025 | -42.6% |
| Financial charges | 65/66B | €3,626 | €3,950 | +€324 | +8.9% |
| Recurring financial charges | 65 | €3,626 | €3,950 | +€324 | +8.9% |
| Profit (loss) for the period before taxes | 9903 | €72,845 | €56,469 | -€16,377 | -22.5% |
| Income taxes | 67/77 | €25,151 | €16,326 | -€8,825 | -35.1% |
| Profit (loss) for the period | 9904 | €47,694 | €40,143 | -€7,551 | -15.8% |
| Profit (loss) for the period to be appropriated | 9905 | €47,694 | €40,143 | -€7,551 | -15.8% |
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 17 October 2026 via checked.be.