PATRIBEL: 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.
PATRIBEL
Largest movements
- Tangible fixed assets +€271,890
up €271,890 (+32.3%), from €841,849 to €1.1m
- Cash -€22,377
down €22,377 (-51.6%), from €43,398 to €21,022
mainly Investment in fixed assets (net) (-€333,007) and Debts after one year (-€34,000)
- Short-term financial debts +€178,637
up €178,637 (+77.2%), from €231,363 to €410,000
of which Credit institutions: +€103,637
- Advances received +€100,000
new in 2026: €100,000
- Debts after one year -€34,000
down €34,000 (-37.6%), from €90,332 to €56,332
- Gross operating margin +€46,488
up €46,488 (+83.6%), from €55,587 to €102,074
- Depreciation +€15,535
up €15,535 (+34.1%), from €45,582 to €61,116
- Other operating charges -€15,380
down €15,380 (-59.4%), from €25,905 to €10,524
- Financial charges +€6,253
up €6,253 (+34.3%), from €18,252 to €24,506
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €896,102 | €1,145,651 | +€249,549 | +27.8% |
| Fixed assets | 21/28 | €852,703 | €1,124,594 | +€271,890 | +31.9% |
| Tangible fixed assets | 22/27 | €841,849 | €1,113,739 | +€271,890 | +32.3% |
| Land and buildings | 22 | €841,849 | €1,113,739 | +€271,890 | +32.3% |
| Financial fixed assets | 28 | €10,854 | €10,854 | = | 0.0% |
| Current assets | 29/58 | €43,398 | €21,057 | -€22,342 | -51.5% |
| Amounts receivable within one year | 40/41 | - | €35 | +€35 | |
| Other amounts receivable | 41 | - | €35 | +€35 | |
| Cash at bank and in hand | 54/58 | €43,398 | €21,022 | -€22,377 | -51.6% |
| Total equity and liabilities | 10/49 | €896,102 | €1,145,651 | +€249,549 | +27.8% |
| Equity | 10/15 | €73,474 | €79,638 | +€6,164 | +8.4% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €9,150 | €9,150 | = | 0.0% |
| Distributable reserves | 133 | €9,150 | €9,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€60,675 | -€54,511 | +€6,164 | +10.2% |
| Amounts payable | 17/49 | €822,627 | €1,066,012 | +€243,385 | +29.6% |
| Amounts payable after more than one year | 17 | €90,332 | €56,332 | -€34,000 | -37.6% |
| Financial debts | 170/4 | €90,332 | €56,332 | -€34,000 | -37.6% |
| Amounts payable within one year | 42/48 | €716,842 | €995,251 | +€278,409 | +38.8% |
| Current portion of amounts payable after more than one year | 42 | €34,000 | €34,000 | = | 0.0% |
| Financial debts | 43 | €231,363 | €410,000 | +€178,637 | +77.2% |
| Credit institutions | 430/8 | €196,363 | €300,000 | +€103,637 | +52.8% |
| Other loans | 439 | €35,000 | €110,000 | +€75,000 | +214% |
| Advances received on contracts in progress | 46 | - | €100,000 | +€100,000 | |
| Other amounts payable | 47/48 | €451,479 | €451,251 | -€228 | -0.1% |
| Accrued charges and deferred income | 492/3 | €15,453 | €14,430 | -€1,024 | -6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,582 | €61,116 | +€15,535 | +34.1% |
| Other operating charges | 640/8 | €25,905 | €10,524 | -€15,380 | -59.4% |
| Gross operating margin | 9900 | €55,587 | €102,074 | +€46,488 | +83.6% |
| Operating profit (loss) | 9901 | -€15,900 | €30,434 | +€46,333 | |
| Financial income | 75/76B | €164 | €236 | +€72 | +44.2% |
| Recurring financial income | 75 | €164 | €236 | +€72 | +44.2% |
| Financial charges | 65/66B | €18,252 | €24,506 | +€6,253 | +34.3% |
| Recurring financial charges | 65 | €18,252 | €24,506 | +€6,253 | +34.3% |
| Profit (loss) for the period before taxes | 9903 | -€33,989 | €6,164 | +€40,153 | |
| Income taxes | 67/77 | €37 | €0 | -€37 | -100% |
| Profit (loss) for the period | 9904 | -€34,026 | €6,164 | +€40,190 | |
| Profit (loss) for the period to be appropriated | 9905 | -€34,026 | €6,164 | +€40,190 |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.