PALATRADE: 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.
PALATRADE
Largest movements
- Cash +€147,784
up €147,784 (+73.7%), from €200,406 to €348,190
mainly Net result for the year (+€133,897) and Depreciation (+€47,370)
- Receivables within one year +€66,077
up €66,077 (+25.5%), from €258,872 to €324,949
- Tangible fixed assets -€47,371
down €47,371 (-25.0%), from €189,521 to €142,150
- Reserves +€91,245
up €91,245 (+4.7%), from €1.9m to €2.0m
of which Distributable reserves: +€93,502
- Trade debts +€46,404
up €46,404 (+61.5%), from €75,433 to €121,837
- Profit (loss) carried forward +€42,652
up €42,652 (+45.6%), from €93,502 to €136,154
- Gross operating margin +€85,400
up €85,400 (+14.0%), from €608,616 to €694,016
- Taxes +€47,071
new in 2025: €47,071
- Staff costs +€17,786
up €17,786 (+4.1%), from €431,280 to €449,066
- Other operating charges -€16,200
no longer reported in 2025 (was €16,200)
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 | €2,380,060 | €2,571,403 | +€191,343 | +8.0% |
| Fixed assets | 21/28 | €189,655 | €142,284 | -€47,371 | -25.0% |
| Tangible fixed assets | 22/27 | €189,521 | €142,150 | -€47,371 | -25.0% |
| Furniture and vehicles | 24 | €189,521 | €142,150 | -€47,371 | -25.0% |
| Financial fixed assets | 28 | €134 | €134 | = | 0.0% |
| Current assets | 29/58 | €2,190,405 | €2,429,119 | +€238,714 | +10.9% |
| Amounts receivable after more than one year | 29 | €344,547 | €358,292 | +€13,745 | +4.0% |
| Other amounts receivable | 291 | €344,547 | €358,292 | +€13,745 | +4.0% |
| Stocks and contracts in progress | 3 | €1,142,568 | €1,134,203 | -€8,365 | -0.7% |
| Stocks | 30/36 | €1,142,568 | €1,134,203 | -€8,365 | -0.7% |
| Amounts receivable within one year | 40/41 | €258,872 | €324,949 | +€66,077 | +25.5% |
| Trade receivables | 40 | €258,872 | €324,949 | +€66,077 | +25.5% |
| Cash at bank and in hand | 54/58 | €200,406 | €348,190 | +€147,784 | +73.7% |
| Deferred charges and accrued income | 490/1 | €244,012 | €263,485 | +€19,473 | +8.0% |
| Total equity and liabilities | 10/49 | €2,380,060 | €2,571,403 | +€191,343 | +8.0% |
| Equity | 10/15 | €2,112,199 | €2,246,096 | +€133,897 | +6.3% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Capital | 10 | €74,368 | €74,368 | = | 0.0% |
| Issued capital | 100 | €74,368 | €74,368 | = | 0.0% |
| Reserves | 13 | €1,944,329 | €2,035,574 | +€91,245 | +4.7% |
| Non-distributable reserves | 130/1 | €7,437 | €7,437 | = | 0.0% |
| Legal reserve | 130 | €7,437 | €7,437 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,169 | €1,912 | -€2,257 | -54.1% |
| Distributable reserves | 133 | €1,932,723 | €2,026,225 | +€93,502 | +4.8% |
| Profit (loss) carried forward | 14 | €93,502 | €136,154 | +€42,652 | +45.6% |
| Provisions and deferred taxes | 16 | €1,359 | €608 | -€751 | -55.3% |
| Deferred taxes | 168 | €1,359 | €608 | -€751 | -55.3% |
| Amounts payable | 17/49 | €266,502 | €324,699 | +€58,197 | +21.8% |
| Amounts payable after more than one year | 17 | €104,431 | €105,736 | +€1,305 | +1.2% |
| Financial debts | 170/4 | €104,431 | €105,736 | +€1,305 | +1.2% |
| Amounts payable within one year | 42/48 | €138,242 | €184,646 | +€46,404 | +33.6% |
| Trade debts | 44 | €75,433 | €121,837 | +€46,404 | +61.5% |
| Suppliers | 440/4 | €75,433 | €121,837 | +€46,404 | +61.5% |
| Taxes, remuneration and social security | 45 | €48,969 | €48,969 | = | 0.0% |
| Taxes | 450/3 | €48,969 | €48,969 | = | 0.0% |
| Other amounts payable | 47/48 | €13,840 | €13,840 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €23,829 | €34,317 | +€10,488 | +44.0% |
| Remuneration, social security and pensions | 62 | €431,280 | €449,066 | +€17,786 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,290 | €47,370 | -€920 | -1.9% |
| Other operating charges | 640/8 | €16,200 | - | -€16,200 | |
| Gross operating margin | 9900 | €608,616 | €694,016 | +€85,400 | +14.0% |
| Operating profit (loss) | 9901 | €112,846 | €197,580 | +€84,734 | +75.1% |
| Financial income | 75/76B | €9,026 | €11,857 | +€2,831 | +31.4% |
| Recurring financial income | 75 | €9,026 | €11,857 | +€2,831 | +31.4% |
| Financial charges | 65/66B | €31,379 | €29,221 | -€2,158 | -6.9% |
| Recurring financial charges | 65 | €31,379 | €29,221 | -€2,158 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | €90,493 | €180,216 | +€89,723 | +99.1% |
| Transfer from deferred taxes | 780 | €752 | €752 | = | 0.0% |
| Income taxes | 67/77 | - | €47,071 | +€47,071 | |
| Profit (loss) for the period | 9904 | €91,245 | €133,897 | +€42,652 | +46.7% |
| Transfer from tax-exempt reserves | 789 | €2,257 | €2,257 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €93,502 | €136,154 | +€42,652 | +45.6% |
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 18 October 2026 via checked.be.