PARDOEN: 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.
PARDOEN
Largest movements
- Cash -€287,733
down €287,733 (-46.7%), from €615,776 to €328,043
mainly Contributions, distributions and other (-€387,000) and Tax, wage and social debts (-€30,136)
- Receivables within one year -€13,354
down €13,354 (-24.6%), from €54,217 to €40,863
of which Trade receivables: -€12,881
- Reserves -€354,873
down €354,873 (-47.5%), from €746,994 to €392,121
of which Distributable reserves: -€354,873
- Other debts +€70,000
up €70,000, from €0 to €70,000
- Tax, wage and social debts -€30,136
down €30,136 (-62.1%), from €48,506 to €18,371
of which Taxes: -€30,136
- Debts after one year -€12,443
down €12,443 (-10.5%), from €118,645 to €106,202
- Current portion of long-term debt +€11,947
up €11,947 (+97.6%), from €12,237 to €24,184
- Gross operating margin -€126,706
down €126,706 (-66.4%), from €190,899 to €64,192
- Taxes -€38,628
down €38,628 (-63.6%), from €60,728 to €22,101
- Financial income +€4,367
up €4,367 (+192.3%), from €2,271 to €6,638
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 | €933,492 | €624,084 | -€309,408 | -33.1% |
| Fixed assets | 21/28 | €261,561 | €255,144 | -€6,417 | -2.5% |
| Tangible fixed assets | 22/27 | €261,561 | €255,144 | -€6,417 | -2.5% |
| Land and buildings | 22 | €232,879 | €227,525 | -€5,354 | -2.3% |
| Plant, machinery and equipment | 23 | €1,935 | €2,816 | +€881 | +45.5% |
| Furniture and vehicles | 24 | €2,995 | €2,335 | -€660 | -22.0% |
| Other tangible fixed assets | 26 | €23,752 | €22,468 | -€1,284 | -5.4% |
| Current assets | 29/58 | €671,931 | €368,940 | -€302,991 | -45.1% |
| Amounts receivable within one year | 40/41 | €54,217 | €40,863 | -€13,354 | -24.6% |
| Trade receivables | 40 | €41,861 | €28,980 | -€12,881 | -30.8% |
| Other amounts receivable | 41 | €12,356 | €11,883 | -€473 | -3.8% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €615,776 | €328,043 | -€287,733 | -46.7% |
| Deferred charges and accrued income | 490/1 | €1,939 | €34 | -€1,904 | -98.2% |
| Total equity and liabilities | 10/49 | €933,492 | €624,084 | -€309,408 | -33.1% |
| Equity | 10/15 | €753,194 | €398,321 | -€354,873 | -47.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €746,994 | €392,121 | -€354,873 | -47.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €746,994 | €392,121 | -€354,873 | -47.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €180,298 | €225,763 | +€45,465 | +25.2% |
| Amounts payable after more than one year | 17 | €118,645 | €106,202 | -€12,443 | -10.5% |
| Financial debts | 170/4 | €118,645 | €106,202 | -€12,443 | -10.5% |
| Amounts payable within one year | 42/48 | €61,381 | €119,562 | +€58,180 | +94.8% |
| Current portion of amounts payable after more than one year | 42 | €12,237 | €24,184 | +€11,947 | +97.6% |
| Trade debts | 44 | €638 | €7,007 | +€6,369 | +998.1% |
| Suppliers | 440/4 | €638 | €7,007 | +€6,369 | +998.1% |
| Taxes, remuneration and social security | 45 | €48,506 | €18,371 | -€30,136 | -62.1% |
| Taxes | 450/3 | €46,756 | €16,621 | -€30,136 | -64.5% |
| Remuneration and social security | 454/9 | €1,750 | €1,750 | = | 0.0% |
| Other amounts payable | 47/48 | €0 | €70,000 | +€70,000 | |
| Accrued charges and deferred income | 492/3 | €272 | €0 | -€272 | -100.0% |
| Remuneration, social security and pensions | 62 | - | €40 | +€40 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,025 | €8,083 | +€58 | +0.7% |
| Other operating charges | 640/8 | €991 | €2,268 | +€1,277 | +128.9% |
| Gross operating margin | 9900 | €190,899 | €64,192 | -€126,706 | -66.4% |
| Operating profit (loss) | 9901 | €181,883 | €53,802 | -€128,081 | -70.4% |
| Financial income | 75/76B | €2,271 | €6,638 | +€4,367 | +192.3% |
| Recurring financial income | 75 | €2,271 | €6,638 | +€4,367 | +192.3% |
| Financial charges | 65/66B | €4,931 | €6,212 | +€1,281 | +26.0% |
| Recurring financial charges | 65 | €4,931 | €6,212 | +€1,281 | +26.0% |
| Profit (loss) for the period before taxes | 9903 | €179,223 | €54,228 | -€124,995 | -69.7% |
| Income taxes | 67/77 | €60,728 | €22,101 | -€38,628 | -63.6% |
| Profit (loss) for the period | 9904 | €118,495 | €32,127 | -€86,368 | -72.9% |
| Profit (loss) for the period to be appropriated | 9905 | €118,495 | €32,127 | -€86,368 | -72.9% |
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 12 October 2026 via checked.be.