PARDOES: 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.
PARDOES
Largest movements
- Stocks and contracts +€58,583
up €58,583 (+18.8%), from €311,642 to €370,225
- Receivables within one year -€31,718
down €31,718 (-33.9%), from €93,641 to €61,923
of which Trade receivables: -€31,608
- Cash -€13,386
down €13,386 (-3.5%), from €378,126 to €364,740
mainly Trade debts (-€98,147) and Investment in fixed assets (net) (-€78,809)
- Trade debts -€98,147
down €98,147 (-27.1%), from €362,030 to €263,884
- Profit (loss) carried forward +€74,195
up €74,195 (+4.3%), from -€1.7m to -€1.6m
- Other debts +€36,905
up €36,905 (+2.5%), from €1.5m to €1.5m
- Tax, wage and social debts +€33,684
up €33,684 (+109%), from €30,966 to €64,650
of which Remuneration and social security: +€28,758
- Current portion of long-term debt -€17,197
down €17,197 (-58.2%), from €29,527 to €12,330
- Gross operating margin +€528,166
up €528,166, from -€54,766 to €473,400
- Write-downs +€298,162
up €298,162, from -€298,162 to €0
- Staff costs +€32,266
up €32,266 (+14.3%), from €226,093 to €258,359
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 | €1,220,567 | €1,242,306 | +€21,739 | +1.8% |
| Fixed assets | 21/28 | €429,646 | €430,246 | +€600 | +0.1% |
| Tangible fixed assets | 22/27 | €429,646 | €430,246 | +€600 | +0.1% |
| Plant, machinery and equipment | 23 | - | €13,615 | +€13,615 | |
| Furniture and vehicles | 24 | €429,646 | €416,632 | -€13,014 | -3.0% |
| Current assets | 29/58 | €790,921 | €812,060 | +€21,139 | +2.7% |
| Stocks and contracts in progress | 3 | €311,642 | €370,225 | +€58,583 | +18.8% |
| Stocks | 30/36 | €311,642 | €370,225 | +€58,583 | +18.8% |
| Amounts receivable within one year | 40/41 | €93,641 | €61,923 | -€31,718 | -33.9% |
| Trade receivables | 40 | €93,531 | €61,923 | -€31,608 | -33.8% |
| Other amounts receivable | 41 | €111 | €0 | -€111 | -100% |
| Cash at bank and in hand | 54/58 | €378,126 | €364,740 | -€13,386 | -3.5% |
| Deferred charges and accrued income | 490/1 | €7,512 | €15,172 | +€7,661 | +102% |
| Total equity and liabilities | 10/49 | €1,220,567 | €1,242,306 | +€21,739 | +1.8% |
| Equity | 10/15 | -€693,277 | -€619,082 | +€74,195 | +10.7% |
| Contributions | 10/11 | €1,013,550 | €1,013,550 | = | 0.0% |
| Capital | 10 | €1,013,550 | €1,013,550 | = | 0.0% |
| Issued capital | 100 | €1,013,550 | €1,013,550 | = | 0.0% |
| Reserves | 13 | €16,355 | €16,355 | = | 0.0% |
| Non-distributable reserves | 130/1 | €16,355 | €16,355 | = | 0.0% |
| Legal reserve | 130 | €16,355 | €16,355 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,723,182 | -€1,648,987 | +€74,195 | +4.3% |
| Amounts payable | 17/49 | €1,913,844 | €1,861,388 | -€52,456 | -2.7% |
| Amounts payable after more than one year | 17 | €12,330 | €0 | -€12,330 | -100% |
| Financial debts | 170/4 | €12,330 | €0 | -€12,330 | -100% |
| Amounts payable within one year | 42/48 | €1,888,460 | €1,843,705 | -€44,755 | -2.4% |
| Current portion of amounts payable after more than one year | 42 | €29,527 | €12,330 | -€17,197 | -58.2% |
| Trade debts | 44 | €362,030 | €263,884 | -€98,147 | -27.1% |
| Suppliers | 440/4 | €362,030 | €263,884 | -€98,147 | -27.1% |
| Taxes, remuneration and social security | 45 | €30,966 | €64,650 | +€33,684 | +109% |
| Taxes | 450/3 | €7,980 | €12,906 | +€4,926 | +61.7% |
| Remuneration and social security | 454/9 | €22,986 | €51,744 | +€28,758 | +125% |
| Other amounts payable | 47/48 | €1,465,937 | €1,502,842 | +€36,905 | +2.5% |
| Accrued charges and deferred income | 492/3 | €13,054 | €17,682 | +€4,629 | +35.5% |
| Non-recurring operating income | 76A | €4,625 | €54 | -€4,570 | -98.8% |
| Remuneration, social security and pensions | 62 | €226,093 | €258,359 | +€32,266 | +14.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,838 | €78,209 | -€4,629 | -5.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€298,162 | €0 | +€298,162 | |
| Other operating charges | 640/8 | €2,767 | €1,408 | -€1,359 | -49.1% |
| Non-recurring operating charges | 66A | €41 | €0 | -€41 | -100% |
| Gross operating margin | 9900 | -€54,766 | €473,400 | +€528,166 | |
| Operating profit (loss) | 9901 | -€68,343 | €135,424 | +€203,767 | |
| Financial income | 75/76B | €372 | €115 | -€258 | -69.2% |
| Recurring financial income | 75 | €372 | €115 | -€258 | -69.2% |
| Financial charges | 65/66B | €57,159 | €61,343 | +€4,184 | +7.3% |
| Recurring financial charges | 65 | €57,159 | €61,343 | +€4,184 | +7.3% |
| Profit (loss) for the period before taxes | 9903 | -€125,130 | €74,195 | +€199,325 | |
| Profit (loss) for the period | 9904 | -€125,130 | €74,195 | +€199,325 | |
| Profit (loss) for the period to be appropriated | 9905 | -€125,130 | €74,195 | +€199,325 |
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 1 November 2026 via checked.be.