PARDAF: 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.
PARDAF
Largest movements
- Cash +€37,353
up €37,353 (+78.9%), from €47,320 to €84,673
mainly Net result for the year (+€35,688) and Tax, wage and social debts (+€12,793)
- Receivables within one year -€2,392
down €2,392 (-96.5%), from €2,480 to €88
of which Trade receivables: -€1,956
- Tangible fixed assets -€1,775
down €1,775 (-5.7%), from €31,304 to €29,530
of which Other tangible fixed assets: -€22,164
- Profit (loss) carried forward +€35,688
up €35,688 (+35.5%), from -€100,591 to -€64,904
- Tax, wage and social debts +€12,793
up €12,793 (+62.0%), from €20,651 to €33,444
of which Remuneration and social security: +€8,647
- Debts after one year -€12,000
down €12,000 (-100%), from €12,000 to €0
- Advances received -€5,065
down €5,065 (-12.8%), from €39,668 to €34,603
- Trade debts +€1,561
up €1,561 (+19.2%), from €8,116 to €9,677
- Other operating charges -€19,111
down €19,111 (-90.6%), from €21,103 to €1,992
- Staff costs -€15,300
down €15,300 (-9.7%), from €158,280 to €142,980
- Gross operating margin -€7,092
down €7,092 (-3.5%), from €201,977 to €194,884
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 | €81,104 | €114,290 | +€33,186 | +40.9% |
| Fixed assets | 21/28 | €31,304 | €29,530 | -€1,775 | -5.7% |
| Tangible fixed assets | 22/27 | €31,304 | €29,530 | -€1,775 | -5.7% |
| Plant, machinery and equipment | 23 | €6,581 | €27,747 | +€21,166 | +322% |
| Furniture and vehicles | 24 | €2,559 | €1,783 | -€777 | -30.3% |
| Other tangible fixed assets | 26 | €22,164 | €0 | -€22,164 | -100% |
| Current assets | 29/58 | €49,800 | €84,760 | +€34,961 | +70.2% |
| Amounts receivable within one year | 40/41 | €2,480 | €88 | -€2,392 | -96.5% |
| Trade receivables | 40 | €1,956 | €0 | -€1,956 | -100% |
| Other amounts receivable | 41 | €524 | €88 | -€436 | -83.3% |
| Cash at bank and in hand | 54/58 | €47,320 | €84,673 | +€37,353 | +78.9% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €81,104 | €114,290 | +€33,186 | +40.9% |
| Equity | 10/15 | -€36,326 | -€639 | +€35,688 | +98.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €45,673 | €45,673 | = | 0.0% |
| Non-distributable reserves | 130/1 | €29,409 | €29,409 | = | 0.0% |
| Reserves not available under the articles | 1311 | €29,409 | €29,409 | = | 0.0% |
| Tax-exempt reserves | 132 | €844 | €844 | = | 0.0% |
| Distributable reserves | 133 | €15,420 | €15,420 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€100,591 | -€64,904 | +€35,688 | +35.5% |
| Amounts payable | 17/49 | €117,430 | €114,928 | -€2,502 | -2.1% |
| Amounts payable after more than one year | 17 | €12,000 | €0 | -€12,000 | -100% |
| Financial debts | 170/4 | €12,000 | €0 | -€12,000 | -100% |
| Amounts payable within one year | 42/48 | €105,430 | €114,928 | +€9,498 | +9.0% |
| Trade debts | 44 | €8,116 | €9,677 | +€1,561 | +19.2% |
| Suppliers | 440/4 | €8,116 | €9,677 | +€1,561 | +19.2% |
| Advances received on contracts in progress | 46 | €39,668 | €34,603 | -€5,065 | -12.8% |
| Taxes, remuneration and social security | 45 | €20,651 | €33,444 | +€12,793 | +62.0% |
| Taxes | 450/3 | €10,170 | €14,315 | +€4,146 | +40.8% |
| Remuneration and social security | 454/9 | €10,481 | €19,128 | +€8,647 | +82.5% |
| Other amounts payable | 47/48 | €36,995 | €37,205 | +€209 | +0.6% |
| Non-recurring operating income | 76A | €8,044 | €0 | -€8,044 | -100% |
| Remuneration, social security and pensions | 62 | €158,280 | €142,980 | -€15,300 | -9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,003 | €9,516 | +€512 | +5.7% |
| Other operating charges | 640/8 | €21,103 | €1,992 | -€19,111 | -90.6% |
| Gross operating margin | 9900 | €201,977 | €194,884 | -€7,092 | -3.5% |
| Operating profit (loss) | 9901 | €13,590 | €40,396 | +€26,806 | +197% |
| Financial income | 75/76B | €32 | €203 | +€170 | +526% |
| Recurring financial income | 75 | €32 | €203 | +€170 | +526% |
| Financial charges | 65/66B | €5,243 | €4,525 | -€717 | -13.7% |
| Recurring financial charges | 65 | €5,243 | €4,525 | -€717 | -13.7% |
| Profit (loss) for the period before taxes | 9903 | €8,380 | €36,074 | +€27,694 | +330% |
| Income taxes | 67/77 | €398 | €386 | -€13 | -3.2% |
| Profit (loss) for the period | 9904 | €7,981 | €35,688 | +€27,706 | +347% |
| Profit (loss) for the period to be appropriated | 9905 | €7,981 | €35,688 | +€27,706 | +347% |
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 17 October 2026 via checked.be.