Pagaderke: what changed
What changed
Pagaderke
NACE 88.911, Day nurseries and crèches
filed annual accounts (NBB)
Net result for the year
-€25,261
2024 · €41,945-€67,206
Equity
€8,229
2024 · €33,490-€25,261
Cash
€93
2024 · €3,254-€3,160
Balance sheet total
€685,158
2024 · €487,087+€198,071
Largest movements
Assets
- Receivables within one year +€208,369
up €208,369 (+46.9%), from €444,388 to €652,757
of which Trade receivables: +€214,819
Equity and liabilities
- Tax, wage and social debts +€428,950
up €428,950 (+266%), from €161,487 to €590,437
of which Remuneration and social security: +€325,723
- Trade debts -€230,311
down €230,311 (-93.9%), from €245,185 to €14,874
- Profit (loss) carried forward -€25,261
new in 2025: -€25,261
- Other debts +€14,250
up €14,250 (+71.1%), from €20,050 to €34,300
Income statement
- Staff costs +€202,824
up €202,824 (+24.2%), from €839,749 to €1.0m
- Gross operating margin +€200,272
up €200,272 (+22.4%), from €893,474 to €1.1m
- Financial charges +€51,760
up €51,760 (+532%), from €9,727 to €61,486
- Other operating charges +€19,493
up €19,493 (+2,715%), from €718 to €20,211
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€41,945
Gross operating margin
+€200,272
Staff costs
-€202,824
Depreciation
+€3,393
Other operating charges
-€19,493
Financial income
+€3,621
Financial charges
-€51,760
Taxes
-€415
Result 2025
-€25,261
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€11,776
Investment
-€1,827
Financing
+€10,443
Cash 2024
€3,254
From operations (derived)
-€11,776
Net result for the year
-€25,261
Depreciation
+€10,056
Receivables within one year
-€208,369
Deferred charges and accrued income
-€1,091
Trade debts
-€230,311
Tax, wage and social debts
+€428,950
Other debts
+€14,250
Investment (derived)
-€1,827
Investment in fixed assets (net)
-€1,827
Financing
+€10,443
Debts after one year
+€4,623
Current portion of long-term debt
+€5,016
Short-term financial debts
+€803
Cash 2025
€93
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €487,087 | €685,158 | +€198,071 | +40.7% |
| Fixed assets | 21/28 | €39,445 | €31,217 | -€8,228 | -20.9% |
| Intangible fixed assets | 21 | €26,265 | €23,265 | -€3,000 | -11.4% |
| Tangible fixed assets | 22/27 | €13,180 | €7,951 | -€5,228 | -39.7% |
| Plant, machinery and equipment | 23 | - | €1,492 | +€1,492 | |
| Furniture and vehicles | 24 | €1,321 | €513 | -€808 | -61.2% |
| Other tangible fixed assets | 26 | €11,859 | €5,947 | -€5,912 | -49.9% |
| Current assets | 29/58 | €447,642 | €653,942 | +€206,300 | +46.1% |
| Amounts receivable within one year | 40/41 | €444,388 | €652,757 | +€208,369 | +46.9% |
| Trade receivables | 40 | €61,694 | €276,513 | +€214,819 | +348% |
| Other amounts receivable | 41 | €382,695 | €376,245 | -€6,450 | -1.7% |
| Cash at bank and in hand | 54/58 | €3,254 | €93 | -€3,160 | -97.1% |
| Deferred charges and accrued income | 490/1 | - | €1,091 | +€1,091 | |
| Total equity and liabilities | 10/49 | €487,087 | €685,158 | +€198,071 | +40.7% |
| Equity | 10/15 | €33,490 | €8,229 | -€25,261 | -75.4% |
| Reserves | 13 | €33,490 | €33,490 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,472 | €2,472 | = | 0.0% |
| Distributable reserves | 133 | €31,018 | €31,018 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€25,261 | -€25,261 | |
| Amounts payable | 17/49 | €453,597 | €676,929 | +€223,332 | +49.2% |
| Amounts payable after more than one year | 17 | €8,710 | €13,333 | +€4,623 | +53.1% |
| Financial debts | 170/4 | €8,710 | €13,333 | +€4,623 | +53.1% |
| Amounts payable within one year | 42/48 | €444,888 | €663,596 | +€218,709 | +49.2% |
| Current portion of amounts payable after more than one year | 42 | €7,931 | €12,948 | +€5,016 | +63.2% |
| Financial debts | 43 | €10,235 | €11,038 | +€803 | +7.8% |
| Credit institutions | 430/8 | €10,235 | €11,038 | +€803 | +7.8% |
| Trade debts | 44 | €245,185 | €14,874 | -€230,311 | -93.9% |
| Suppliers | 440/4 | €245,185 | €14,874 | -€230,311 | -93.9% |
| Taxes, remuneration and social security | 45 | €161,487 | €590,437 | +€428,950 | +266% |
| Taxes | 450/3 | - | €103,227 | +€103,227 | |
| Remuneration and social security | 454/9 | €161,487 | €487,210 | +€325,723 | +202% |
| Other amounts payable | 47/48 | €20,050 | €34,300 | +€14,250 | +71.1% |
| Remuneration, social security and pensions | 62 | €839,749 | €1,042,573 | +€202,824 | +24.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,449 | €10,056 | -€3,393 | -25.2% |
| Other operating charges | 640/8 | €718 | €20,211 | +€19,493 | +2,715% |
| Gross operating margin | 9900 | €893,474 | €1,093,745 | +€200,272 | +22.4% |
| Operating profit (loss) | 9901 | €39,558 | €20,906 | -€18,652 | -47.2% |
| Financial income | 75/76B | €12,114 | €15,735 | +€3,621 | +29.9% |
| Recurring financial income | 75 | €12,114 | €15,735 | +€3,621 | +29.9% |
| Financial charges | 65/66B | €9,727 | €61,486 | +€51,760 | +532% |
| Recurring financial charges | 65 | €9,727 | €61,486 | +€51,760 | +532% |
| Profit (loss) for the period before taxes | 9903 | €41,945 | -€24,846 | -€66,791 | |
| Income taxes | 67/77 | - | €415 | +€415 | |
| Profit (loss) for the period | 9904 | €41,945 | -€25,261 | -€67,206 | |
| Profit (loss) for the period to be appropriated | 9905 | €41,945 | -€25,261 | -€67,206 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.