PALLADIO: 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.
PALLADIO
Largest movements
- Current investments -€165,000
no longer reported in 2025 (was €165,000)
- Cash +€47,218
up €47,218 (+177%), from €26,619 to €73,836
mainly Current investments (+€165,000) and Depreciation (+€22,366)
- Receivables within one year +€36,688
up €36,688 (+6.2%), from €589,703 to €626,391
of which Other amounts receivable: +€36,456
- Tangible fixed assets -€20,491
down €20,491 (-3.6%), from €574,988 to €554,497
of which Land and buildings: -€21,449
- Reserves -€35,927
down €35,927 (-3.7%), from €958,070 to €922,144
of which Distributable reserves: -€32,062
- Other debts -€27,463
down €27,463 (-12.6%), from €217,261 to €189,798
- Current portion of long-term debt -€20,984
no longer reported in 2025 (was €20,984)
- Tax, wage and social debts -€16,544
down €16,544 (-73.0%), from €22,654 to €6,110
- Gross operating margin -€969,251
down €969,251 (-97.6%), from €993,273 to €24,022
- Taxes -€200,358
down €200,358 (-90.8%), from €220,591 to €20,233
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 | €1,357,375 | €1,255,316 | -€102,059 | -7.5% |
| Fixed assets | 21/28 | €574,988 | €554,497 | -€20,491 | -3.6% |
| Tangible fixed assets | 22/27 | €574,988 | €554,497 | -€20,491 | -3.6% |
| Land and buildings | 22 | €573,313 | €551,864 | -€21,449 | -3.7% |
| Plant, machinery and equipment | 23 | - | €1,755 | +€1,755 | |
| Furniture and vehicles | 24 | €1,675 | €878 | -€797 | -47.6% |
| Current assets | 29/58 | €782,386 | €700,819 | -€81,568 | -10.4% |
| Amounts receivable within one year | 40/41 | €589,703 | €626,391 | +€36,688 | +6.2% |
| Trade receivables | 40 | €7,723 | €7,955 | +€232 | +3.0% |
| Other amounts receivable | 41 | €581,980 | €618,436 | +€36,456 | +6.3% |
| Current investments | 50/53 | €165,000 | - | -€165,000 | |
| Cash at bank and in hand | 54/58 | €26,619 | €73,836 | +€47,218 | +177% |
| Deferred charges and accrued income | 490/1 | €1,064 | €592 | -€473 | -44.4% |
| Total equity and liabilities | 10/49 | €1,357,375 | €1,255,316 | -€102,059 | -7.5% |
| Equity | 10/15 | €1,059,211 | €1,023,284 | -€35,927 | -3.4% |
| Contributions | 10/11 | €101,141 | €101,141 | = | 0.0% |
| Capital | 10 | €101,141 | €101,141 | = | 0.0% |
| Issued capital | 100 | €101,141 | €101,141 | = | 0.0% |
| Reserves | 13 | €958,070 | €922,144 | -€35,927 | -3.7% |
| Non-distributable reserves | 130/1 | €10,114 | €10,114 | = | 0.0% |
| Legal reserve | 130 | €10,114 | €10,114 | = | 0.0% |
| Tax-exempt reserves | 132 | €98,550 | €94,686 | -€3,864 | -3.9% |
| Distributable reserves | 133 | €849,406 | €817,344 | -€32,062 | -3.8% |
| Provisions and deferred taxes | 16 | €32,850 | €31,562 | -€1,288 | -3.9% |
| Deferred taxes | 168 | €32,850 | €31,562 | -€1,288 | -3.9% |
| Amounts payable | 17/49 | €265,314 | €200,470 | -€64,844 | -24.4% |
| Amounts payable within one year | 42/48 | €262,091 | €197,795 | -€64,296 | -24.5% |
| Current portion of amounts payable after more than one year | 42 | €20,984 | - | -€20,984 | |
| Trade debts | 44 | €1,192 | €1,886 | +€695 | +58.3% |
| Suppliers | 440/4 | €1,192 | €1,886 | +€695 | +58.3% |
| Taxes, remuneration and social security | 45 | €22,654 | €6,110 | -€16,544 | -73.0% |
| Taxes | 450/3 | €22,654 | €6,110 | -€16,544 | -73.0% |
| Other amounts payable | 47/48 | €217,261 | €189,798 | -€27,463 | -12.6% |
| Accrued charges and deferred income | 492/3 | €3,223 | €2,675 | -€548 | -17.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,887 | €22,366 | -€8,522 | -27.6% |
| Other operating charges | 640/8 | €12,486 | €4,593 | -€7,893 | -63.2% |
| Gross operating margin | 9900 | €993,273 | €24,022 | -€969,251 | -97.6% |
| Operating profit (loss) | 9901 | €949,900 | -€2,937 | -€952,836 | |
| Financial income | 75/76B | €29,351 | €32,467 | +€3,116 | +10.6% |
| Recurring financial income | 75 | €29,351 | €32,467 | +€3,116 | +10.6% |
| Financial charges | 65/66B | €13,762 | €6,334 | -€7,428 | -54.0% |
| Recurring financial charges | 65 | €13,762 | €6,334 | -€7,428 | -54.0% |
| Profit (loss) for the period before taxes | 9903 | €965,489 | €23,196 | -€942,292 | -97.6% |
| Transfer from deferred taxes | 780 | €1,932 | €1,288 | -€644 | -33.3% |
| Income taxes | 67/77 | €220,591 | €20,233 | -€200,358 | -90.8% |
| Profit (loss) for the period | 9904 | €746,829 | €4,251 | -€742,578 | -99.4% |
| Transfer from tax-exempt reserves | 789 | €5,796 | €3,864 | -€1,932 | -33.3% |
| Profit (loss) for the period to be appropriated | 9905 | €752,626 | €8,116 | -€744,510 | -98.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.