PADU: 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.
PADU
Largest movements
- Tangible fixed assets -€52,974
down €52,974 (-8.7%), from €605,938 to €552,964
of which Land and buildings: -€41,564
- Receivables within one year -€13,150
down €13,150 (-36.1%), from €36,380 to €23,230
of which Trade receivables: -€7,374
- Debts after one year -€35,184
down €35,184 (-7.2%), from €491,841 to €456,657
- Trade debts -€10,065
down €10,065 (-48.5%), from €20,743 to €10,678
- Current portion of long-term debt -€9,608
down €9,608 (-32.3%), from €29,793 to €20,184
- Other debts -€8,695
down €8,695 (-92.7%), from €9,381 to €686
- Financial charges -€4,123
down €4,123 (-61.9%), from €6,662 to €2,539
- Gross operating margin -€3,214
down €3,214 (-5.3%), from €60,928 to €57,714
- Depreciation +€1,060
up €1,060 (+2.0%), from €51,914 to €52,974
- Other operating charges -€855
down €855 (-24.2%), from €3,530 to €2,675
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 | €658,753 | €594,498 | -€64,255 | -9.8% |
| Fixed assets | 21/28 | €605,938 | €552,964 | -€52,974 | -8.7% |
| Tangible fixed assets | 22/27 | €605,938 | €552,964 | -€52,974 | -8.7% |
| Land and buildings | 22 | €558,364 | €516,801 | -€41,564 | -7.4% |
| Plant, machinery and equipment | 23 | €65 | €28 | -€36 | -56.5% |
| Furniture and vehicles | 24 | €47,509 | €36,135 | -€11,374 | -23.9% |
| Current assets | 29/58 | €52,815 | €41,534 | -€11,281 | -21.4% |
| Stocks and contracts in progress | 3 | €12,917 | €13,664 | +€747 | +5.8% |
| Stocks | 30/36 | €12,917 | €13,664 | +€747 | +5.8% |
| Amounts receivable within one year | 40/41 | €36,380 | €23,230 | -€13,150 | -36.1% |
| Trade receivables | 40 | €30,484 | €23,110 | -€7,374 | -24.2% |
| Other amounts receivable | 41 | €5,896 | €120 | -€5,776 | -98.0% |
| Cash at bank and in hand | 54/58 | €1,713 | €1,790 | +€77 | +4.5% |
| Deferred charges and accrued income | 490/1 | €1,805 | €2,849 | +€1,045 | +57.9% |
| Total equity and liabilities | 10/49 | €658,753 | €594,498 | -€64,255 | -9.8% |
| Equity | 10/15 | €103,738 | €103,385 | -€353 | -0.3% |
| Contributions | 10/11 | €62,178 | €62,178 | = | 0.0% |
| Capital | 10 | €62,178 | €62,178 | = | 0.0% |
| Issued capital | 100 | €62,178 | €62,178 | = | 0.0% |
| Reserves | 13 | €18,081 | €18,081 | = | 0.0% |
| Distributable reserves | 133 | €18,081 | €18,081 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,479 | €23,126 | -€353 | -1.5% |
| Amounts payable | 17/49 | €555,015 | €491,112 | -€63,902 | -11.5% |
| Amounts payable after more than one year | 17 | €491,841 | €456,657 | -€35,184 | -7.2% |
| Financial debts | 170/4 | €491,841 | €456,657 | -€35,184 | -7.2% |
| Amounts payable within one year | 42/48 | €63,173 | €34,455 | -€28,718 | -45.5% |
| Current portion of amounts payable after more than one year | 42 | €29,793 | €20,184 | -€9,608 | -32.3% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €20,743 | €10,678 | -€10,065 | -48.5% |
| Suppliers | 440/4 | €20,743 | €10,678 | -€10,065 | -48.5% |
| Taxes, remuneration and social security | 45 | €3,257 | €2,907 | -€350 | -10.7% |
| Taxes | 450/3 | €3,257 | €2,907 | -€350 | -10.7% |
| Other amounts payable | 47/48 | €9,381 | €686 | -€8,695 | -92.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,914 | €52,974 | +€1,060 | +2.0% |
| Other operating charges | 640/8 | €3,530 | €2,675 | -€855 | -24.2% |
| Gross operating margin | 9900 | €60,928 | €57,714 | -€3,214 | -5.3% |
| Operating profit (loss) | 9901 | €5,485 | €2,065 | -€3,419 | -62.3% |
| Financial income | 75/76B | €40 | €121 | +€82 | +204.9% |
| Recurring financial income | 75 | €40 | €121 | +€82 | +204.9% |
| Financial charges | 65/66B | €6,662 | €2,539 | -€4,123 | -61.9% |
| Recurring financial charges | 65 | €6,662 | €2,539 | -€4,123 | -61.9% |
| Profit (loss) for the period before taxes | 9903 | -€1,138 | -€353 | +€785 | +69.0% |
| Income taxes | 67/77 | €149 | €0 | -€149 | -100.0% |
| Profit (loss) for the period | 9904 | -€1,286 | -€353 | +€934 | +72.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,286 | -€353 | +€934 | +72.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.