Paludek: 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.
Paludek
Largest movements
- Current investments -€84,642
down €84,642 (-48.4%), from €175,000 to €90,358
- Cash -€76,576
down €76,576 (-82.9%), from €92,419 to €15,843
mainly Debts after one year (-€140,873) and Net result for the year (-€66,483)
- Tangible fixed assets -€37,253
down €37,253 (-2.8%), from €1.3m to €1.3m
of which Land and buildings: -€48,642
- Debts after one year -€140,873
down €140,873 (-22.9%), from €616,139 to €475,266
of which Financial debts: -€139,969
- Reserves -€59,350
down €59,350 (-6.6%), from €904,501 to €845,151
of which Distributable reserves: -€59,350
- Gross operating margin -€101,801
down €101,801 (-62.0%), from €164,237 to €62,436
- Financial charges -€47,058
down €47,058 (-96.7%), from €48,681 to €1,623
- Staff costs +€8,257
up €8,257 (+44.2%), from €18,670 to €26,927
- Other operating charges +€4,897
up €4,897 (+26.6%), from €18,416 to €23,312
- Depreciation +€3,660
up €3,660 (+4.8%), from €75,640 to €79,300
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 | €1,618,039 | €1,419,790 | -€198,250 | -12.3% |
| Fixed assets | 21/28 | €1,341,842 | €1,304,589 | -€37,253 | -2.8% |
| Tangible fixed assets | 22/27 | €1,341,842 | €1,304,589 | -€37,253 | -2.8% |
| Land and buildings | 22 | €1,312,344 | €1,263,703 | -€48,642 | -3.7% |
| Plant, machinery and equipment | 23 | €4,343 | €21,601 | +€17,258 | +397.4% |
| Furniture and vehicles | 24 | €25,155 | €19,285 | -€5,870 | -23.3% |
| Current assets | 29/58 | €276,197 | €115,200 | -€160,997 | -58.3% |
| Amounts receivable within one year | 40/41 | €8,778 | €9,000 | +€222 | +2.5% |
| Trade receivables | 40 | €1,147 | €9,000 | +€7,853 | +684.5% |
| Other amounts receivable | 41 | €7,631 | €0 | -€7,631 | -100.0% |
| Current investments | 50/53 | €175,000 | €90,358 | -€84,642 | -48.4% |
| Cash at bank and in hand | 54/58 | €92,419 | €15,843 | -€76,576 | -82.9% |
| Total equity and liabilities | 10/49 | €1,618,039 | €1,419,790 | -€198,250 | -12.3% |
| Equity | 10/15 | €992,384 | €925,901 | -€66,483 | -6.7% |
| Contributions | 10/11 | €80,750 | €80,750 | = | 0.0% |
| Reserves | 13 | €904,501 | €845,151 | -€59,350 | -6.6% |
| Non-distributable reserves | 130/1 | €8,075 | €8,075 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,075 | €0 | -€8,075 | -100.0% |
| Other | 1319 | - | €8,075 | +€8,075 | |
| Distributable reserves | 133 | €896,426 | €837,076 | -€59,350 | -6.6% |
| Profit (loss) carried forward | 14 | €7,133 | €0 | -€7,133 | -100.0% |
| Amounts payable | 17/49 | €625,655 | €493,889 | -€131,767 | -21.1% |
| Amounts payable after more than one year | 17 | €616,139 | €475,266 | -€140,873 | -22.9% |
| Financial debts | 170/4 | €608,615 | €468,646 | -€139,969 | -23.0% |
| Other amounts payable | 178/9 | €7,524 | €6,620 | -€904 | -12.0% |
| Amounts payable within one year | 42/48 | €9,517 | €18,622 | +€9,106 | +95.7% |
| Trade debts | 44 | €9,517 | €18,245 | +€8,728 | +91.7% |
| Suppliers | 440/4 | €9,517 | €18,245 | +€8,728 | +91.7% |
| Taxes, remuneration and social security | 45 | €0 | €378 | +€378 | |
| Taxes | 450/3 | €0 | €378 | +€378 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €18,670 | €26,927 | +€8,257 | +44.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,640 | €79,300 | +€3,660 | +4.8% |
| Other operating charges | 640/8 | €18,416 | €23,312 | +€4,897 | +26.6% |
| Gross operating margin | 9900 | €164,237 | €62,436 | -€101,801 | -62.0% |
| Operating profit (loss) | 9901 | €51,511 | -€67,103 | -€118,614 | |
| Financial income | 75/76B | €5,743 | €2,585 | -€3,158 | -55.0% |
| Recurring financial income | 75 | €5,743 | €2,585 | -€3,158 | -55.0% |
| Financial charges | 65/66B | €48,681 | €1,623 | -€47,058 | -96.7% |
| Recurring financial charges | 65 | €48,681 | €1,623 | -€47,058 | -96.7% |
| Profit (loss) for the period before taxes | 9903 | €8,574 | -€66,140 | -€74,714 | |
| Income taxes | 67/77 | €1,441 | €343 | -€1,098 | -76.2% |
| Profit (loss) for the period | 9904 | €7,133 | -€66,483 | -€73,616 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,133 | -€66,483 | -€73,616 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.