PASADENA: 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.
PASADENA
Largest movements
- Tangible fixed assets -€16,509
down €16,509 (-4.0%), from €413,677 to €397,168
of which Land and buildings: -€19,725
- Receivables within one year -€9,813
down €9,813 (-93.4%), from €10,510 to €696
- Debts after one year -€38,867
down €38,867 (-12.0%), from €324,074 to €285,206
- Reserves +€20,422
up €20,422 (+29342.2%), from €70 to €20,492
- Tax, wage and social debts -€4,428
down €4,428 (-30.2%), from €14,670 to €10,242
- Taxes +€1,605
up €1,605 (+18.6%), from €8,637 to €10,242
- Financial charges -€1,081
down €1,081 (-13.6%), from €7,937 to €6,856
- Gross operating margin -€709
down €709 (-1.2%), from €58,725 to €58,016
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 | €439,747 | €412,559 | -€27,188 | -6.2% |
| Fixed assets | 21/28 | €413,677 | €397,168 | -€16,509 | -4.0% |
| Tangible fixed assets | 22/27 | €413,677 | €397,168 | -€16,509 | -4.0% |
| Land and buildings | 22 | €412,468 | €392,744 | -€19,725 | -4.8% |
| Plant, machinery and equipment | 23 | €1,208 | €841 | -€367 | -30.4% |
| Furniture and vehicles | 24 | - | €3,583 | +€3,583 | |
| Current assets | 29/58 | €26,071 | €15,391 | -€10,680 | -41.0% |
| Amounts receivable within one year | 40/41 | €10,510 | €696 | -€9,813 | -93.4% |
| Other amounts receivable | 41 | €10,510 | €696 | -€9,813 | -93.4% |
| Cash at bank and in hand | 54/58 | €14,797 | €13,917 | -€880 | -6.0% |
| Deferred charges and accrued income | 490/1 | €764 | €778 | +€14 | +1.9% |
| Total equity and liabilities | 10/49 | €439,747 | €412,559 | -€27,188 | -6.2% |
| Equity | 10/15 | €57,493 | €77,916 | +€20,422 | +35.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €70 | €20,492 | +€20,422 | +29342.2% |
| Distributable reserves | 133 | €70 | €20,492 | +€20,422 | +29342.2% |
| Profit (loss) carried forward | 14 | €38,824 | €38,824 | = | 0.0% |
| Amounts payable | 17/49 | €382,254 | €334,644 | -€47,610 | -12.5% |
| Amounts payable after more than one year | 17 | €324,074 | €285,206 | -€38,867 | -12.0% |
| Financial debts | 170/4 | €324,074 | €285,206 | -€38,867 | -12.0% |
| Amounts payable within one year | 42/48 | €58,181 | €49,437 | -€8,743 | -15.0% |
| Current portion of amounts payable after more than one year | 42 | €43,247 | €38,867 | -€4,380 | -10.1% |
| Trade debts | 44 | €263 | €328 | +€65 | +24.9% |
| Suppliers | 440/4 | €263 | €328 | +€65 | +24.9% |
| Taxes, remuneration and social security | 45 | €14,670 | €10,242 | -€4,428 | -30.2% |
| Taxes | 450/3 | €14,670 | €10,242 | -€4,428 | -30.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,187 | €20,314 | +€127 | +0.6% |
| Other operating charges | 640/8 | - | €486 | +€486 | |
| Gross operating margin | 9900 | €58,725 | €58,016 | -€709 | -1.2% |
| Operating profit (loss) | 9901 | €38,538 | €37,217 | -€1,322 | -3.4% |
| Financial income | 75/76B | €827 | €304 | -€523 | -63.3% |
| Recurring financial income | 75 | €827 | €304 | -€523 | -63.3% |
| Financial charges | 65/66B | €7,937 | €6,856 | -€1,081 | -13.6% |
| Recurring financial charges | 65 | €7,937 | €6,856 | -€1,081 | -13.6% |
| Profit (loss) for the period before taxes | 9903 | €31,428 | €30,664 | -€764 | -2.4% |
| Income taxes | 67/77 | €8,637 | €10,242 | +€1,605 | +18.6% |
| Profit (loss) for the period | 9904 | €22,792 | €20,422 | -€2,370 | -10.4% |
| Profit (loss) for the period to be appropriated | 9905 | €22,792 | €20,422 | -€2,370 | -10.4% |
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 3 October 2026 via checked.be.