PATALTHO: 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.
PATALTHO
Largest movements
- Cash +€194,964
up €194,964 (+280.0%), from €69,632 to €264,597
mainly Current investments (+€160,271) and Receivables after one year (+€69,450)
- Current investments -€160,271
down €160,271 (-51.0%), from €314,270 to €153,999
- Receivables after one year -€69,450
down €69,450 (-82.1%), from €84,600 to €15,150
- Receivables within one year +€33,216
up €33,216 (+133.2%), from €24,943 to €58,160
- Deferred charges and accrued income +€26,515
up €26,515 (+28.0%), from €94,557 to €121,073
- Provisions +€52,848
new in 2025: €52,848
- Other debts -€27,000
down €27,000 (-31.0%), from €87,000 to €60,000
- Reserves -€17,000
down €17,000 (-3.5%), from €480,096 to €463,096
of which Distributable reserves: -€15,140
- Short-term financial debts +€11,812
new in 2025: €11,812
- Current portion of long-term debt -€8,444
no longer reported in 2025 (was €8,444)
- Provisions +€52,848
new in 2025: €52,848
- Gross operating margin +€31,854
up €31,854 (+19.7%), from €161,802 to €193,656
- Financial charges +€11,736
up €11,736 (+25.9%), from €45,309 to €57,045
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 | €603,639 | €617,253 | +€13,614 | +2.3% |
| Fixed assets | 21/28 | €15,636 | €4,275 | -€11,361 | -72.7% |
| Tangible fixed assets | 22/27 | €15,636 | €4,275 | -€11,361 | -72.7% |
| Plant, machinery and equipment | 23 | - | €1,542 | +€1,542 | |
| Furniture and vehicles | 24 | €15,636 | €2,733 | -€12,903 | -82.5% |
| Current assets | 29/58 | €588,003 | €612,978 | +€24,975 | +4.2% |
| Amounts receivable after more than one year | 29 | €84,600 | €15,150 | -€69,450 | -82.1% |
| Other amounts receivable | 291 | €84,600 | €15,150 | -€69,450 | -82.1% |
| Amounts receivable within one year | 40/41 | €24,943 | €58,160 | +€33,216 | +133.2% |
| Other amounts receivable | 41 | €24,943 | €58,160 | +€33,216 | +133.2% |
| Current investments | 50/53 | €314,270 | €153,999 | -€160,271 | -51.0% |
| Cash at bank and in hand | 54/58 | €69,632 | €264,597 | +€194,964 | +280.0% |
| Deferred charges and accrued income | 490/1 | €94,557 | €121,073 | +€26,515 | +28.0% |
| Total equity and liabilities | 10/49 | €603,639 | €617,253 | +€13,614 | +2.3% |
| Equity | 10/15 | €500,912 | €485,093 | -€15,819 | -3.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €480,096 | €463,096 | -€17,000 | -3.5% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €478,236 | €463,096 | -€15,140 | -3.2% |
| Profit (loss) carried forward | 14 | €2,216 | €3,397 | +€1,181 | +53.3% |
| Provisions and deferred taxes | 16 | - | €52,848 | +€52,848 | |
| Provisions for liabilities and charges | 160/5 | - | €52,848 | +€52,848 | |
| Other liabilities and charges | 164/5 | - | €52,848 | +€52,848 | |
| Amounts payable | 17/49 | €102,727 | €79,312 | -€23,415 | -22.8% |
| Amounts payable within one year | 42/48 | €102,727 | €79,312 | -€23,415 | -22.8% |
| Current portion of amounts payable after more than one year | 42 | €8,444 | - | -€8,444 | |
| Financial debts | 43 | - | €11,812 | +€11,812 | |
| Other loans | 439 | - | €11,812 | +€11,812 | |
| Trade debts | 44 | €383 | - | -€383 | |
| Suppliers | 440/4 | €383 | - | -€383 | |
| Taxes, remuneration and social security | 45 | €6,900 | €7,500 | +€600 | +8.7% |
| Taxes | 450/3 | €6,900 | €7,500 | +€600 | +8.7% |
| Other amounts payable | 47/48 | €87,000 | €60,000 | -€27,000 | -31.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,621 | €13,054 | -€1,567 | -10.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €52,848 | +€52,848 | |
| Other operating charges | 640/8 | €889 | €830 | -€59 | -6.7% |
| Gross operating margin | 9900 | €161,802 | €193,656 | +€31,854 | +19.7% |
| Operating profit (loss) | 9901 | €146,292 | €126,924 | -€19,368 | -13.2% |
| Financial income | 75/76B | €2,936 | €3,634 | +€698 | +23.8% |
| Recurring financial income | 75 | €2,936 | €3,634 | +€698 | +23.8% |
| Financial charges | 65/66B | €45,309 | €57,045 | +€11,736 | +25.9% |
| Recurring financial charges | 65 | €45,309 | €57,045 | +€11,736 | +25.9% |
| Profit (loss) for the period before taxes | 9903 | €103,919 | €73,513 | -€30,406 | -29.3% |
| Income taxes | 67/77 | €29,719 | €29,332 | -€387 | -1.3% |
| Profit (loss) for the period | 9904 | €74,200 | €44,181 | -€30,019 | -40.5% |
| Profit (loss) for the period to be appropriated | 9905 | €74,200 | €44,181 | -€30,019 | -40.5% |
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 9 October 2026 via checked.be.