PALEDO: 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.
What changed
PALEDO
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€18,165
2024 · €78,075-€96,240
Equity
€17,380
2024 · €35,545-€18,165
Cash
€9,025
2024 · €5,445+€3,580
Balance sheet total
€1.0m
2024 · €921,670+€119,746
Largest movements
Assets
- Tangible fixed assets +€162,573
up €162,573 (+23.5%), from €692,355 to €854,929
of which Land and buildings: +€159,522
- Current investments -€50,000
no longer reported in 2025 (was €50,000)
Equity and liabilities
- Debts after one year +€110,695
up €110,695 (+21.9%), from €505,506 to €616,200
of which Financial debts: +€110,695
- Profit (loss) carried forward -€17,467
down €17,467 (-29.3%), from -€59,678 to -€77,145
- Other debts +€12,296
up €12,296 (+7.1%), from €171,981 to €184,277
Income statement
- Gross operating margin -€128,141
down €128,141 (-73.8%), from €173,524 to €45,383
- Financial charges +€5,324
up €5,324 (+19.2%), from €27,670 to €32,994
- Depreciation +€4,517
up €4,517 (+14.4%), from €31,417 to €35,934
- Other operating charges -€3,478
down €3,478 (-44.3%), from €7,854 to €4,376
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.
Result 2024
€78,075
Gross operating margin
-€128,141
Depreciation
-€4,517
Provisions
-€111
Other operating charges
+€3,478
Other operating items
+€7,820
Financial income
+€1,302
Financial charges
-€5,324
Taxes
+€31
Deferred taxes and other
+€29,221
Result 2025
-€18,165
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.
From operations
+€32,247
Investment
-€148,507
Financing
+€119,840
Cash 2024
€5,445
From operations (derived)
+€32,247
Net result for the year
-€18,165
Depreciation
+€35,934
Receivables within one year
-€4,165
Deferred charges and accrued income
+€572
Provisions
-€565
Trade debts
+€2,467
Tax, wage and social debts
+€3,874
Other debts
+€12,296
Investment (derived)
-€148,507
Investment in fixed assets (net)
-€198,507
Current investments
+€50,000
Financing
+€119,840
Debts after one year
+€110,695
Current portion of long-term debt
+€6,370
Short-term financial debts
+€2,775
Cash 2025
€9,025
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €921,670 | €1,041,417 | +€119,746 | +13.0% |
| Fixed assets | 21/28 | €692,355 | €854,929 | +€162,573 | +23.5% |
| Tangible fixed assets | 22/27 | €692,355 | €854,929 | +€162,573 | +23.5% |
| Land and buildings | 22 | €691,980 | €851,502 | +€159,522 | +23.1% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €375 | €257 | -€118 | -31.5% |
| Other tangible fixed assets | 26 | - | €3,170 | +€3,170 | |
| Current assets | 29/58 | €229,315 | €186,488 | -€42,827 | -18.7% |
| Amounts receivable within one year | 40/41 | €170,194 | €174,359 | +€4,165 | +2.4% |
| Trade receivables | 40 | €12,119 | €35,019 | +€22,900 | +189.0% |
| Other amounts receivable | 41 | €158,074 | €139,340 | -€18,734 | -11.9% |
| Current investments | 50/53 | €50,000 | - | -€50,000 | |
| Cash at bank and in hand | 54/58 | €5,445 | €9,025 | +€3,580 | +65.7% |
| Deferred charges and accrued income | 490/1 | €3,676 | €3,104 | -€572 | -15.6% |
| Total equity and liabilities | 10/49 | €921,670 | €1,041,417 | +€119,746 | +13.0% |
| Equity | 10/15 | €35,545 | €17,380 | -€18,165 | -51.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €89,023 | €88,325 | -€698 | -0.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €87,163 | €86,465 | -€698 | -0.8% |
| Profit (loss) carried forward | 14 | -€59,678 | -€77,145 | -€17,467 | -29.3% |
| Provisions and deferred taxes | 16 | €176,631 | €176,066 | -€565 | -0.3% |
| Provisions for liabilities and charges | 160/5 | €147,643 | €147,311 | -€332 | -0.2% |
| Environmental obligations | 163 | - | €147,311 | +€147,311 | |
| Other liabilities and charges | 164/5 | €147,643 | - | -€147,643 | |
| Deferred taxes | 168 | €28,988 | €28,756 | -€233 | -0.8% |
| Amounts payable | 17/49 | €709,494 | €847,970 | +€138,477 | +19.5% |
| Amounts payable after more than one year | 17 | €505,506 | €616,200 | +€110,695 | +21.9% |
| Financial debts | 170/4 | €469,966 | €580,660 | +€110,695 | +23.6% |
| Other amounts payable | 178/9 | €35,540 | €35,540 | = | 0.0% |
| Amounts payable within one year | 42/48 | €203,988 | €231,770 | +€27,782 | +13.6% |
| Current portion of amounts payable after more than one year | 42 | €30,375 | €36,745 | +€6,370 | +21.0% |
| Financial debts | 43 | - | €2,775 | +€2,775 | |
| Credit institutions | 430/8 | - | €2,775 | +€2,775 | |
| Trade debts | 44 | €1,358 | €3,825 | +€2,467 | +181.6% |
| Suppliers | 440/4 | €1,358 | €3,825 | +€2,467 | +181.6% |
| Taxes, remuneration and social security | 45 | €274 | €4,147 | +€3,874 | +1416.4% |
| Taxes | 450/3 | €274 | €4,147 | +€3,874 | +1416.4% |
| Other amounts payable | 47/48 | €171,981 | €184,277 | +€12,296 | +7.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,417 | €35,934 | +€4,517 | +14.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€443 | -€332 | +€111 | +25.0% |
| Other operating charges | 640/8 | €7,854 | €4,376 | -€3,478 | -44.3% |
| Non-recurring operating charges | 66A | €7,820 | - | -€7,820 | |
| Gross operating margin | 9900 | €173,524 | €45,383 | -€128,141 | -73.8% |
| Operating profit (loss) | 9901 | €126,875 | €5,405 | -€121,470 | -95.7% |
| Financial income | 75/76B | €8,134 | €9,436 | +€1,302 | +16.0% |
| Recurring financial income | 75 | €8,134 | €9,436 | +€1,302 | +16.0% |
| Financial charges | 65/66B | €27,670 | €32,994 | +€5,324 | +19.2% |
| Recurring financial charges | 65 | €27,670 | €32,994 | +€5,324 | +19.2% |
| Profit (loss) for the period before taxes | 9903 | €107,340 | -€18,153 | -€125,492 | |
| Transfer from deferred taxes | 780 | - | €233 | +€233 | |
| Transfer to deferred taxes | 680 | €28,988 | - | -€28,988 | |
| Income taxes | 67/77 | €277 | €245 | -€31 | -11.4% |
| Profit (loss) for the period | 9904 | €78,075 | -€18,165 | -€96,240 | |
| Transfer from tax-exempt reserves | 789 | - | €698 | +€698 | |
| Transfer to tax-exempt reserves | 689 | €86,965 | - | -€86,965 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,890 | -€17,467 | -€8,577 | -96.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.